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Hi, need to submit a 2000 words essay on the topic Managing Accounting in Multinational Finance.Within the multinational company, the treasurer is regarded as one of the highest financial offices. Whi
Hi, need to submit a 2000 words essay on the topic Managing Accounting in Multinational Finance.
Within the multinational company, the treasurer is regarded as one of the highest financial offices. While the role of the treasurer is diverse and many varied, their overarching role is that of the acquisition and custody of funds. In addition to these elements, the cashier regularly reports on elements related to cash-flow within the firm, develops financial budgets, and considers means of cash conservation. With the multinational company context, the treasurer must maintain relationships with banks, as well as insurance and pension fund entities (Weaver and Weston, 2001). While within the company, all the committee members share some monetary responsibility, the treasurer can be regarded as the locus of financial responsibility. In this role, they prepare financial reports to be understood and presented to other committee members. In considering this role they act as a trustee. This term refers to an individual who is entrusted with charitable financial resources. In fulfilling this responsibility the trustee must be able to manage the budgetary reports, analyzing expenditures, and forecasting future financial positions. Still, this is ultimately a committee activity (cahs online, 2010).
Considered from a more specific context, the treasurer is responsible for developing strategic decision making in terms of the organization's risk management strategy when the financial risk does not directly deal with a commodity. For instance, it was indicated that 90% of the instances wherein the company deals with foreign exchange risks the treasury department assumes control of instituting the risk management initiatives (Corporate treasurers, 2006). One can compare this to cases where the major areas of risk exposure are from energy or non-agricultural commodities, as in these instances the treasury is responsible only thirty-percent of the time.
