Task 2

Task 2 paragraph 3 and 4

Financial management is closely related to accounting. In most firm both areas

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are the responsibility of the vice president of finance of the chief of finance officer. But,

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accountant’s main function is to collect and present financial data. Financial managers

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use financial statement prepared by accountants to make financial decisions. Financial

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managers focus on cash flow and outflow of cash.

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Finance is a central activity in every firm. Financial managers have a complex and

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challenging job. They analyze financial data prepared by accountants and prepare and

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implement financial plans. The chief financial officers (CFO) and their staffs coordinate

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information from such as marketing and production to develop and carry out financial

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strategies. In a small firm, the finance function may be handled by either the accounting

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department or one or two people. The finance department oversees day-to-day financial

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operations. The key activities of the financial managers are financial planning,

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