How does modern financial manager is different from traditional financial manager?
Answers
Answer:
The main difference between Modern financial manager and a traditional financial manager is modern financial manager uses computer or other modern technologies for calculating the total income of the company and other datas. But a traditional financial manager uses paper or books for this and they do not use any modern technology.
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The scope of a financial manager's work has expanded from traditional to modern while fulfilling these functions. A modern finance manager must operate a link between a company's operations and the capital market on the one hand, and the capital market on the other.
Financial managers are accountable for supervising the accounts of large corporations, government agencies, and everything else in between. They supervise accountancy and report financial information, statement of cash flow, and profit estimates with their departments.
Traditional Perspective: Financial management is primarily concerned with the purchase, financing, and management of a company's assets in order to maximise the firm's wealth for its owners. The goal of financial management is to make the most efficient and sensible use of resources in order to achieve the firm's stated goal.