Issues that may occur within a financial management firm
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What are the primary responsibilities of a corporate financial staff? What are the most important financial management issues today? Why?
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Solution Summary
Financial management is merely the acquisition, financing, and management of assets of a company. Thus it is essential for management must be effective decision makers in areas such as investment, financing, and asset management.
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The primary responsibilities of a corporate financial staff are to implement policies set by the chairman board and to monitor operational processes of the firm. The management team is the chief executive officer (CEO), the chief operating officer (COO), and the chief financial officer (CFO).
Chief Executive Officer (CEO) ensures that directors adhere to company policies; smooth operations, and meeting financial obligations. It is interesting to note that some corporations use their chairman board for double duty for example, as CEO and board member. However, this practice is always acceptable to shareholders for fear that unethical practices may occur (conflict of interest).
Chief Operating Officer (COO) is responsible for the actual operations, including producing and selling the firm's products (Brigham & Houston, 2007, p.18). The senior officer helps to manage ...
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- MA, Capella University
- BA, Empire State College, NY
- MBA, Empire State College, NY.
- PhD , Concordia University
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