The United State's economic recovery may still be shaky. However,
the potential role and overall job outlook for all occupational varieties
of financial managers seems to be expanding. As such positions grow more
lucrative and attractive to potential job seekers, these positions are also
increasingly more specific in the nature of the duties performed by
different aspects of the profession than ever before. According to the
U.S. Department of Labor, "almost every firm, government agency, and
organization has one or more financial managers who oversee the preparation
of financial reports, direct investment activities, and implement cash
management strategies. As computers are increasingly used to record and
organize data, many financial managers are spending more time developing
strategies and implementing the long-term goals of their organization."
(Job Outlook, 2004) All financial managers perform particular tasks that
are unique as well as specific their organization or industry. For
instance, "government financial managers must be experts on the government
appropriations and budgeting processes." In contrast, healthcare financial
managers must be knowledgeable about the often-labyrinthine issues
surrounding healthcare financing. (Job Outlook, 2004)
A financial manager, in contrast to an accountant, is thus a
quantitative and as well as a qualitative analyst with an eye upon the
future. Unlike an accountant, whom either records in dollar numbers what a
firm or an organization has done over the past year, or plots prospective
financial courses, when given a series of options by the firm's leaders, a
financial manager has a crucial role in determining what those potential
strategies will be. A financial manager not only determines the results of
a particular strategy and their potential cost, but also attempts to
develop a strategy that will bring the maximum bene...