Financial Management Challenges Essay

Find at least two articles from the ProQuest database that high spot and discourse two of the biggest challenges confronting fiscal directors today. One of the articles should be about the challenge of keeping ethical fiscal unity and the other article should be on any other challenge that a fiscal director may confront ( e. g. . competition. foreign markets. authorities intercession. etc. ) .

Fiscal directors face countless challenges ethical and fiscal alike. These challenges can be known to impact the repute of the house. and the ethical attack taken can put a positive or negative moral standing for the house. The challenges entirely would be a tough occupation for any normal single. but fiscal directors besides must cover with the lifting demands that have been placed on the establishment that span over a much wider country and trade with a infinite different activities. The first part will be ethically concentrated and touch on unity and market coverage.

There are a batch of mediocre leaders out at that place ; I know. they’ve been my foremans. However. when it comes to fiscal directors. mediocre merely won’t do the occupation. But what’s the difference between a good leader and a mediocre one? Making a occupation merely to acquire paid and utilizing the smallest sum of attempt to make so is typically the mentality of a bad or second-rate leader. Knowing your occupation includes many undertakings. one of which and most significantly is to take others with good illustrations of ethical and fiscal duties is an illustration of a great leader. The deficiency of leading in every degree of the organisation can impact the whole ethical unity of the fiscal director. “This leads to the offering of payoffs. inaccurate timesheets describing or the proviso of misdirecting information. ” ( Hennessey. 2007 ) . The ethical standing of the fiscal director affects the overall proviso of the quality accomplishments in the analysis of the certification. “The fiscal director non being adept plenty to follow the persons. who are responsible for the fiscal records. could intend the loss of the direction. ” ( Hickman and Byrd. 2011 ) . Intelligibly. false coverage would be unethical and illegal actions for a fiscal director to partake in. This will destroy the firm’s repute and trust.

Fiscal record coverage requires the overall care of precise and complete records and can be a immense challenge. “The deficiency of evident or documented policies and actions in the care of the fiscal records affects the overall ethical unity of the fiscal director. “ ( Hickman and Byrd. 2011 ) . The fiscal director must do measure each state of affairs and be able to explicate policies that will assist in the growing of the house to a successful point and beyond. “The ailment will of a fiscal director non describing the truth or the overall analysis of the house makes his behavior un-ethical. ” ( Chan. 2005 ) . These unethical patterns will finally take to the jobs covering with legal liabilities that happen due to the design of the fiscal systems. Each of which is backed by a set cheques and balances that occur in the procedure of keeping the fiscal paperss. The absence of conformity to this alone design affects the overall running of the company’s activities. Faulty coverage will damage the company’s trust publically and internally. Stockholders. employees and stakeholders likewise would wholly be affected by unethical patterns within a house.

Foreign markets. apart from fiscal unity are another challenge. “The clip period and prohibition on the entry of the foreign market affects the fiscal manager’s rating or procedure of describing. ” ( Hickman and Byrd. 2011 ) . “The inconsistent ordinances and strong regulation of jurisprudence in the foreign markets should be reported to the stakeholders. ” ( Chan. 2005 ) . Fiscal directors are expected to describe ethical issues that affect a firm’s market. “The challenge of cultural misinterpretation of the house and the investing that the fiscal director has presented to the market could take to the disconnected diminution of gross revenues or prohibition of the establishment. This prohibition will intend the loss of all the financess that will hold been invested. ” ( Hennessey. 2007 ) . A hapless appraisal of the human resource financess and the concern operational cost may take to a diminution in the net income of the house. Once net income begins to worsen. stockholders are more likely to force to replace a fiscal director due to the public presentation of the firm’s direction.

In decision. fiscal unity and foreign markets scenarios affect the overall activities of the fiscal directors. Unethical patterns of fiscal directors affect about every facet of the house. The deficiency of formation of a relationship with the participants and clients in the foreign market will take to the overall diminution of the firm’s market portion. “The fiscal directors should look at the proviso of morally approved attacks in the activities of the house. ” ( Chan. 2005 ) .

Mention
Chan. R. ( 2005 ) : Does the Natural-Resource-Based View of Emerging Economy? Survey of
Foreign Enterprises in China: Journal of Management Studies. 42 ( 3 ) . 625-672 Hennessey. J. ( 2007 ) . Communicating the Value of Energy Efficiency Projects to Financial
Decision Makers In Not-for-profit Markets. Strategic Planning For Energy & A ; the
Environment. 26 ( 4 ) . 55-66. Retrieved from Pro-Quest
Hickman. K. and Byrd. J. ( 2013 ) : Necessities of finance: San Diego. Calcium: Bridge point Education
Inc. Retrieved from Pro-Quest
Norton. E. ( 1991 ) . Factors impacting capital construction determinations. The Financial Review. 26 ( 3 ) .
431-431 Retrieved from Pro-Quest