THE ROLE OF FINANCIAL MANAGER IN A MANUFACTURING FIRM
(A CASE STUDY OF EMENITE LIMITED, EMENE ENUGU)
A PROJECT PRESENTED TO
THE SCHPOOL OF FIANCIAL STUDIES INSTITUTE OF MANAGEMENT AND TECHNILOGY (I.M.T) ENUGU.
MANUFACTURING FIRM
A CASE STUDY OF AMENITIES BUILDING PRODUCT (EMENE) LIMITED
PROPOSAL
The need for the effective financial management in any business organization which has the intention to make progress, profit, to expand and to grow in size has no alternative. The need to obtain funds, wisely invest funds in a viable or profitable prefects and manager effectively and efficiently the day to day cash in flows and out – flows with any business organization calls for a professional with the necessary skill and experience. This study tried to highlight the role of financial manager and the study was limited to Emenote Building product (Emene) Limited.
The second chapter of work will deal extensively on this work will deal extensively on the review related literatures and studies which are both local and foreign. The source of information were library, textbook, Journals, Magazines, Newspapers, Lectures, discussions with fellow student etc. .
The third chapter will deal with the methodology to be used in obtaining the data required for the were. The survey instruments will contain facts from interview method and observation of relevant documents relating to Emenite Building Product (Emene) Limited.
The chapter four of this prefect will deal with the history organization and problem of the Emenites Building product (Emene) limited, the status, duties, achievement and problem of the financial manager, whether financial management is recognized as one of crucial aspects of the firms decision making and whether the role of the financial manager are fully specified and whether he is given a free hand to perform his duties rather than receiving orders and approval from above.
Chapter five of this work which is the conclusion will be mainly recommendation based on findings in chapter three and four.
Methodology 36
Summary Recommendation and Conclusion 60
Bibliography 66
Reference 68
Appendix 69
INTRODUCTION
It has become a well known fact that without money a business cannot function consequently an understanding of finance, which is the appreciation of the role of money and its ability to measure. The measure of a business is essential for good management. However, money can be likened to a lubricant, too little and the business is a wash with all types of project for using the surplus cash some of which may be good risks while others may penalized the business. Again money presents its own problems particularly when inflation sets in and as a result the purchasing power will change from time to time.
Now, the role of financial managers becomes imperative consequently, the professions is one of the professions which is still struggle to assume its place in an organizational structure with the increasing complexity in human organization of there has arises more and more.
Specialization of people in various disciplines and therefore finance must take its on position. Financial manager is an expert trained in the field of finance, and the functions include planning for acquisition of funds and utilization of such funds in ways that will maximize the efficiency of an organization. The project researcher intended to project the role of financial manager as regards manufacturing firms and as J balty puts it “an adequate funds and cash flow is essential more than this, a business cannot afford to stand still.
In any competitive field it will be essential for improvement to introduce new products and to expand”. However, despite much publications and emphasis placed on the role of financial manager in any business organizations, most of our policy makers whether in private, public and governmental establishments have not realized these vital roles and the resultant effects are stagnation and collapse of many of our business activities with the claims and counter claims by various professionals and near professional. There is establishment among many business organizations which are confronted with certain problems and which need expert advice. In this case management’s must try to recognize and consult the service of financial manager this alternative in business is to be very carefully considered before a judicious choice can be made.
1.2 THEORETICAL FRAMEWORK
1.2.1 HISTORY SUPPORTING THEORIES
The study of financial management has undergone a lot of changes since its inception as a subject of its own.
According to E.F Briham and F. Weston “during 1940s, 1950s finance was continued to be taught as descriptive institutional subjects viewed from the outside rather than from in his own view stated that at some decades ago, the scope of financial manage
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