Description Of Bank Muscat

The financial mangers goal is acquisition, financing, and management of assets. The challenges are investment, financing, and asset management decisions.

The Credit Union maintains a system for cashing checks that provides Members with fast, friendly, and efficient service, while minimizing Credit Union losses. Tellers are expected to use good judgment in cashing any check presented. Tellers have the responsibility of giving good service to Members while weighing the risk to the Credit Union.

Describe the duties of the financial manager in a business firm. Financial managers measure the firm's performance,

The financial manager establishes goals that will help to reach the organizations objectives, then creates steps in which they will use to achieve those goals.

According to Gitman, the goal of the firm, and therefore of all managers and employees, is to maximize the wealth of the owners for whom it is being operated (2009). The financial manager is responsible for acquiring sources of financing and allocate amongst competitive investment alternatives. The ultimate goal is to invest in projects yielding higher returns than amount of financing used to invest, so profits can be used satisfy claims and increase shareholder wealth. The issues facing financial managers are therefore to 1) increase sources of financing from investors and 2) increase shareholder wealth while maintaining a

Tellers are an essential part of the check clearing system. Knowing how this system works will enhance your understanding of check-hold procedures. Finally, you can use this knowledge to address questions and concerns that Members may have regarding float time and other clearing related-issues.

Financial management is important to the organization because it provides pertinent finance and accounting information to help managers accomplish the purpose of the organization. Financial accounting provides accounting information to external users. On the other hand, managerial accounting is more for managers (internal users) to use for things like planning, budgeting, etc. The definition of finance has changed over the years, but it’s used to ultimately evaluate previous decisions and make assessments for future decisions of the organization.

Finance is the study of applying specific value to things we own, services we use and decisions we make. Financial management is the process for and the analysis of making financial decisions in the business context. The major subareas of finance are investments, financial management, financial institutions, market, and international finance. Risk is a potential future negative impact to value and or cash flow. It is often discussed in terms of probability of loss and the expected magnitude of the loss.

The finance department functions include keeping records of financial activity for example the sales made by the business and providing managers with information that they can use in decision making for example cost of making products. For McDonalds the finance department would have to keep track of how many sales they make per day and what kind of meal or burger makes the most money. For Chester Zoo the finance department would have to do the same which is keeping records of how many sales they make per day and how much profit they make.

This is the first pace in financial. It is the duty of financial manager to primarily recognize the goals of the company. The subsequently responsibility is to decide on the suitable steps that have to be applied achieve the goals of the company (Baker and Baker, 2007, p. 6).

Financial Management is a critical aspect of any business in order to achieve a sustainable and efficient cash flow. It is essential in maintaining the link between a business’s future financial goals (profit maximization) and the resources that it has in order to achieve its objectives. Businesses demand certain common goals that increase a bussiness's all around achievement, Some of which involve; growth amongst assests, An increase in efficiency in all areas of the business whether it be management or not. And the ability to meet short term and long term debts. Finacial management undertakes the responsibility to implement and acheive these goals for the business using a range of strategies shaped to meet the needs of the business and

Hence, the tasks involved in Financial Management include: Ø Analysing financial needs Ø Forecasting financial needs Ø Managing working capital Ø Planning capital structures Ø Organising financial operations Ø Monitoring and controlling finances etc. In fact raising funds and allocating funds for business are the two prime financial management tasks.

Al Fahim Bank is located in Switzerland which works in the national and international bank market. At the end of the second period, Al Fahim Bank attained an annual surplus of SFr 507 million after tax. The bank achieved high level of improvements in the profit and loss accounts with the highest commission income and the least operating expenditure. Al Fahim Bank currently has the highest income from interest business then all other competitors. The Banks expenditure was raised by 78 million SFr. The balance sheet decreased by SFr 2 billion which is still below average in comparison to larger banks.

Each candidate has great experience at Menton bank. They all flourish in different ways in there positions they have. Karen Mitchell problems is “she simply refuses to sell.” With the new direction Menton is going, this is a big problem for Costanzo and Reeves to appoint her the new position as head of CSR. “I did try this selling thing but it just seemed to annoy people. Some said they were in a hurry and couldn’t talk now; others looked at me as if I were slightly crazy to bring up the subject of a different bank service than the one they were currently transacting. And then, when you got the odd person who seemed interested, you could hear the other customers in the line grumbling about the slow service” Mitchell said. (Lovelock, Wirtz, pg. 524)

The Chief Executive Officer (CEO) of FAM reports to the Executive Members. The CEO responsibilities include among others: