A financial manager has three main duties. They are to manage
the budget of the company, keep a report of all financial
transactions and to manage the financial teamThe role of the
financial manager, particularly in business, is changing in
response to technological advances that have significantly reduced
the amount of time it takes to produce financial reports. Financial
managers main responsibility used to be monitoring a companys
finances, but they now do more data analysis and advise senior
managers on ideas to maximize profits. They often work on teams,
acting as business advisors totop executives. Financial managers
typically do the following: Prepare financial statements, business
activity reports, and forecasts Monitor financial details to ensure
that legal requirements are met Supervise employees who do
financial reporting and budgeting Review company financial reports
and seek ways to reduce costs Analyze market trends to find
opportunities for expansion or for acquiring other companies Help
management make financial decisions
Financial managers are responsible for the financial health of
an organization. They produce financial reports, direct investment
activities, and develop strategies and plans for the long-term
financial goals of their organization. Financial managers work in
many places, including banks and insurance companies.Typical work
activitiesThe roles of financial managers can vary enormously. In
larger companies for instance, the role is more concerned with
strategic analysis, while in smaller organisations, a financial
manager may be responsible for the collection and preparation of
accounts.In general, tasks across roles may include: providing and
interpreting financial information; monitoring and interpreting
cash flows and predicting future trends; analysing change and
advising accordingly; formulating strategic and long-term business
plans; researching and reporting on factors influencing business
performance; analysing competitors and market trends; developing
financial management mechanisms that minimise financial risk;
conducting reviews and evaluations for cost-reduction
opportunities; managing a company's financial accounting,
monitoring and reporting systems; liaising with auditors to ensure
annual monitoring is carried out; developing external relationships
with appropriate contacts, e.g. auditors, solicitors, bankers and
statutory organisations such as the Inland Revenue; producing
accurate financial reports to specific deadlines; managing budgets;
arranging new sources of finance for a company's debt facilities;
supervising staff; keeping abreast of changes in financial
regulations and legislation.
Medicinal eggsBritish scientists have created a breed of
genetically modified hens that produce cancer-fighting medicines in
their eggs. The animals have had human genes added to their DNA so
that human proteins are secreted into the whites of their eggs,
along with complex medicinal proteins similar to drugs used to
treat skin cancer and other diseases.What exactly do
thesedisease-fighting eggscontain? The hens lay eggs that have
miR24, a molecule with potential for treating malignant melanoma
and arthritis, and human interferon b-1a, an antiviral drug that
resembles modern treatments for multiple sclerosis.
This is probably the most remarkable example of how far science
is able to go with modern DNA and cross fertilization techniques;
the dolion is a cross between a lion and a dog. In order to produce
this incredible rare animal (only 3 dolions exist in laboratories
the photo above is of Rex, the first ever produced), individual
strands of DNA from each creature must be combined and re-inserted
in to a host egg. This is similar to theliger(lion/tiger
crossbreed) with the exception that the liger is able to be
produced without prior manipulation of the DNA of either breed of
animal.
