The finance function in selected Maltese companies : a 1998-1999 assessment

Abstract

This paper sets out to analyse the Finance Function in a selection of Maltese enterprises. The enterprises studied were selected from the various industries in the Maltese economy. The first chapter of the dissertation sets out to define the finance function. It also highlights the various roles of the financial manager, and it emphasis the distinction between the accountant, the management accountant and the financial manager. Included in Chapter 1 is the scope of the dissertation and the research methodology. Chapter 2, on the other hand, takes the managerial aspect of the finance function into more detail. It is divided into the management of cash, debtors, working capital and stock. Although the financial manager has various other functions, as can be noted in Chapter 3, I could conclude that the above mentioned are the most prominent managerial functions of the financial manager. Chapter 3, the 'Findings' chapter, indicates the importance the finance people give to the finance function, especially in the large organisations. Chapter 3 also emphasises the concept of change, although Chapter 4 further elaborates on the subject. The 'Findings' chapter includes the response to my interviews, suggestions and proposals for a better finance function in future organisations. Chapter 4, "Re-designing the Finance Function", includes studies carried out by leading consultancy firms, like KPMG and Develin and Partners, who suggest a new face for the modern finance function.