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| *Ostroff, Fair and Company>>>Government & Non-Profit |
How job of financial manager nonprofit differ from financial manager profit seeking firm? |
how is the job of a financial manager in a nonprofit organization different from that of a financial manager with a profit seeking firm? I believe the job is very similar in both organizations. The financial manager needs to ensure that the company is performing its intended role within the monetary constraints of the business. In a non-profit or not for profit business they will still be concerned about delivering services within a budget to ensure that expenses are covered and everyone is paid. In a profit seeking firm the financial manager has many of the same concerns, ensuring that everything is running within the budgets which have been set up. The biggest difference is probably when dealing with funding the business. A profit seeking firm will be looking at debt market, the bank or stock markets to raise funds for the business if the business is not providing enough cash for its needs. A non profit firm will be looking at grants, government agencies and benefactors to raise cash for the same reasons. Both careers can be extremely rewarding! Good Luck! Source(s): Senior Financial Controller |
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