Ipsit Pallav

What are the things if a Finance Manager learns, will be helpful in long run?

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by Ipsit Pallav
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RE: What are the things if a Finance Manager learns, will be helpful in long run?

Dr. Anand Wadadekar, PhD
Dr. Anand Wadadekar, PhD
Verified Career Expert
Founder & CEO: Discovering Careers India
  • pune

Hello My Dear Finance Manager Aspirant,

Your question is very very apt in terms of the crux of the role of a Finance Manager. A Finance Manager factually is a very senior level position in a corporate and the person occupying that named post is generally expected to be having considerable amount of work experience in years, with relevant high end domain knowledge and people skills. These three aspects are considered as very important for any type of high level of designation occupying candidates.

I would like to thank you for approaching CareerGuide for seeking clarification on your fantastic query.

Finance Management domain:

As you may be aware that finance management domain is one of the critical and the very important aspects for a business organisation. Finance is a thing which is very critical for an organisation and the return on investments and cost of funds are the two most important aspects in the finance domain and there fore there is high requirement of managing it effectively.

In my more than seven years of career counselling experience, I have rarely come across students who want to know about other things which need to be learnt to become successful in the career and that too in the long run.

In my MBA Finance days at SIBM Pune, one of our professors said that 'if it is finance, then it has to be tough. If it is not tough, then it is not finance".

I would like you to remember this statement and do things and take efforts based on this.

Things which will be helpful to a Finance Manager in the long run:

According to me, since finance domain itself is full of complexities, one has to be very perfect and trained domain knowledge wise. This is the field where the only important thing at the end of the day is important is 'domain knowledge and command'.

There fore I would suggest that for a long run benefit and to sustain the growing competition of talent and intelligence, the below points need to be mastered extremely well:

  • Accounting
  • Taxation
  • Audit
  • Financial Analysis
  • Ratio Analysis
  • Management Accounting
  • Accounting Standards
  • Accounting Rules
  • IFRS
  • Indirect Taxation Laws
  • Direct Taxation Laws

The above were the domain knowledge aspects.

Non-technical aspects:

As a Finance Manager, you are not only supposed to be a master of accounts and finance, but also importantly you should be a people's person.

  • Politeness
  • Team Building
  • Leadership
  • Humble
  • Motivator
  • Communication
  • Presentation
  • Personality

Best Luck

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