Financial managers are responsible for the financial health of an organization. It is the portion of corporate profits paid out to stockholders.
The BSC supports the role of finance in establishing and monitoring specific and measurable financial strategic goals on a coordinated, integrated basis, thus enabling the firm to operate efficiently and effectively.
Financial managers focus on cash flows, the inflows and outflows of cash. Organizational skills.
As a result, resources are wasted, poor decisions get made, and the financial performance of the organization suffers. This has led to the role of finance in the strategic planning process becoming more relevant than ever.
The financial evaluation of these projects is key element of the approval process. Were generally accepted accounting principles GAAP followed?