He has to further handle ongoing assessments and attend meetings with statutory departments and auditors concerning tax issues. He has to ensure that all statutory dues are paid and returns filed on time. The finance manager is required to coordinate with auditors and tax consultants for finalisation of tax liabilities- both direct and indirect, preparation of returns such as TDS, Service Tax, GST etc. This process is followed by uploading financial statements and calling internal meetings for performance review. As a run-up to this, the finance manager is required to finalise provisions, reconcile accounts, co-ordinate with branches, subsidiaries and parent company for month-end closures. These activities typically include preparation of trading accounts, income statements and balance sheets. To carry out these activities, he needs strong coordination and communication skills. This role requires finance manager to make financial projections, revisions, forecasting, variance analysis against the standards, preparation of reports and overall analysis of the financial performance of the entity. If you are planning to take up professional courses in finance, it is pertinent that you know different roles it entails so that you can decide which area is your forte. Their role can be divided over major finance verticals for a better understanding. As the term suggests, “Finance Manager” is responsible for managing finances and ensuring the financial well being of the organisation.
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