... changing in response to technological advances that have significantly reduced the amount of time it takes to produce financial reports. Financial managers now perform more data analysis and use it to offer senior managers ideas on how to maximize profits. They often work on teams, acting as business advisors to top management. Financial managers need to keep abreast of the latest computer technology in order to increase the efficiency of their firm's financial operations. Brealey-Myers-Allen (2005) found the following: The financial manager stands between the firm's operations and the financial (or capital) markets, where investors hold the financial assets issued by the firm. The financial manager's role is illustrated in the next figure, which traces the flow of cash from investors to the firm and back to investors again. The flow starts when the firm sells securities to raise cash (arrow 1 in the figure). The cash is used to ...

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