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Vice – President for Finance

Treasurer

Controller

Cash manager

Credit manager

Tax manager

Cost Accounting Manager

Capital Expenditures

Financial Planning

Financial Accounting Manager

Data Processing Manager

a) treasurer

b) controller

c) cash manager

d) cost accounting manager

e) credit manager

f) financial accounting manager

g) data processing manager h) tax manager

1) regulates the flow of cash;

2) supervises the issues of tax payments;

3) manages credit issues;

4) is responsible for financial planning and planning capital expenditure;

5) processes all financial information concerning the firm

6) supervises cost accounting;

7) supervises financial accounting;

8) is in charge of controlling expenditure.

А В

Vocabulary

Use your dictionary to look up any new words.

  1. Write the following words in the correct column.

financial task (2) include development application monitoring creating evaluating credit (2) investing excess cash (2) acquiring issuing additional spinning-off interpret report (2) improve data optimally effective finance (2) similarly need (2) understand like (3) remember critical expect survive essential (2) challenge (2) face (2) entire (2) function (2) greatly.

Nouns (23)

Verbs (17)

Adjectives (7)

Adverbs (3)

financial

  1. Combine a word in A with a word in B to form a suitable noun phrase

E.g. financial manager

A B

  1. financial (3) 1) cash

  2. business 2) management (2)

  3. credit 3) accountant

  4. excess 4) activity

  5. cash 5) challenge

  6. equity 6) business

  7. top 7) manager

  8. good 8) securities

  9. small 9) statement

10) careful 10) life

11) essential 11) strength

12) entire 12) balance

13) accounting 13) policy

14) matters

Reading

  1. Read text 6 and think of the suitable title.

TEXT 6

The financial manager’s task include the development, application, and monitoring of policies and decisions regarding such business activities as:

  • Creating and evaluating credit policies for customers

  • Investing excess cash balances

  • Acquiring another company

  • Issuing additional equity securities

  • Spinning-off a subsidiary

A financial manager for a business is the doctor who interprets the report and makes recommendations to the patient regarding changes that would improve health. Financial managers use the data prepared by the accountants and make recommendations to top management regarding strategies for improving the financial strength of the firm.

A manager cannot be optimally effective at finance without understanding accounting. Similarly, a good accountant needs to understand finance. Accounting and finance, finance and accounting – the two go together like bread and butter.

As you may remember, financing a small business is a difficult but critical function if a firm expects to survive those important first five years. The simple reality is, the need for careful financial management is an essential ongoing challenge a business of any size must face throughout its entire life.

All financial managers functions depend greatly on the information provided by the accounting statements such as:

  • Planning

  • Budgeting

  • Obtaining funds

  • Controlling funds

(funds management)

  • Collecting funds

(credit management)

  • Auditing

  • Managing taxes

  • Advising top management on financial matters

  1. Comprehension check.

Here are some answers about financial manager’s work. Write the questions.

  1. What ___________________________________________________________?

The major task of financial manager is the development, application and monitoring of policies and decisions of a business.

  1. Who ____________________________________________________________?

Accountants collect and choose data for financial managers.

  1. Whom ___________________________________________________________?

Financial managers suggest the top management ways of improving the financial standing of the firm.

  1. In what case ______________________________________________________?

Without understanding accounting a manager cannot be effective at finance.

  1. What ____________________________________________________________?

Accounting statements.

Role – play

Work in pairs.

Imagine that you are a human resource manager who selects employees to fill vacancies of:

  • a finance manager

  • a treasurer

  • a controller

Tell them about your company. Ask them about their education, business experience and professional qualification. Also have a talk with candidates about their official duties.