The essay should demonstrate a student's ability to integrate and synthesize course concepts with selected readings to communicate his/her understanding of financial management concepts and their...

Running Head: FINANCIAL ACCOUNTING                        1
FINANCIAL ACCOUNTING                                 6
FINANCIAL ACCOUNTING
INDIVIDUAL RESEARCH PAPER: TOPIC 2
CHALLENGES FACED BY FINANCIAL MANAGERS IN A CHANGING ECONOMIC ENVIORNMENT
Executive Summary
Macro-economic changes have major impact on businesses. The extent of impact grows with the size of the operations of the business and also on the presence in multiple countries. The developments of globalization, technological innovations, introduction of new directives in different countries, skills of work force along with other changes such as growing political instability, growing environmental concerns and rising oil prices are identified as few major changes that has impacted the businesses all over the world.
The Finance managers have to work with the uncertainties and confusions that may be a result of such macroeconomic changes. A finance department ca
ies a huge responsibility to meet the financial balance in the organization. Observing the cu
ent dynamics and forecasting its negative impact on the business are two of the major challenges of the manager, who is recommended to meet some of which by constant upgradation of employee skills and adopting technologically advanced innovations.
Table of Contents
Executive Summary    2
Introduction    4
Challenges faced by Finance Managers due to Changes in the Macroeconomics Environment and its Impact    4
Globalization    4
Technological Changes    5
Directives    5
Work Force    5
Dynamic Global Environment    6
Recommendations    6
Conclusion    7
References    9
Introduction
Businesses witness many macroeconomic changes. These changes certainly influence the operations of the businesses. The changes in macroeconomics can be large, convoluted, complex and confusing. It may affect different organizations differently. The Finance Managers have to work with the uncertainties and confusions, which may be a result of such macroeconomic changes.
A finance department has a vast number of responsibilities on its shoulders to keep the financial balance in the company. It is important that the finance managers are skilled to take the company through the changing times avoid any panic or disruptions that may affect the company and the stakeholders of the organization.
Challenges faced by Finance Managers due to Changes in the Macroeconomics Environment and its Impact
There are various factors of macroeconomics that can affect the organizations. A finance manager has to evaluate the possible risk of the change that can affect the organization. These changes may be related to the nature of the business that the organization is involved in. The finance manager has to foresee the possible implications of such changes in the present processes and methods of the business. Some of the macroeconomic changes that are occu
ing in recent times and are relevant to most businesses are globalization, technological changes, directives, work force and dynamic global environment.
Globalization
Globalization has
ought the countries around the globe together on a similar platform. This has taken many businesses to make their presence in multiple nations very conveniently. As mentioned Lee, Cheng, Chong and Sia (2018), with a global perspective of the businesses, the manager, has to observe the...