Type of paper: Report

Topic: Finance, Project, Director, Money, Church, Religion, Advertising, Marketing

Pages: 2

Words: 550

Published: 2020/12/10

The finance director is important in a project. The financier director determines the costs of the project and the revenue streams that may be obtained to fund the project. The finance director, therefore, makes forecast regarding the costs of the project. In this case the finance director analyses the amount of money needed for advertising the church.
The costs of the staff used should be analyzed by the finance director. The hourly costs of the people who should do the project are conducted by the finance director. The staff needed for actualizing the church marketing project must be determined and their costs calculated. Finances are wasted if proper staff cost analysis is not conducted. It is, therefore, important that the costs are arrived at in advance before the advertising project commences.
The finance director will analyze the cash flow of the church advertising project. Cash flow is useful in determining the capital required for the project. A cash flow budget is designed for the purpose of making forecasts. Forecasts should be made as regards the amount of money needed for the advertising. The cash flow information is important in making the decision whether to invest the surplus or seek additional funding for the church advertising project project. Analyzing the cash flow is necessary in comparing the actual costs of advertising and the budgeted costs. In this project most of the funding will come from donations and church contributions. Cash deficits should be considered in the process of coming up with a budget and the contingency measures put in place to ensure that financial shortages do not arise.
Management of risks is important in this advertising project. However, this project has little risks because it only involves marketing. The foreseeable and unforeseeable risks should be considered in the project. This role may not be exercised fully due to the less risky nature of this marketing project.
The finance director works with the person responsible for marketing to assess the benefits of any advertisement that is made. A cost benefit analysis of the project must be done by the finance director to determine the viability of any marketing plan. Every resource used by the project must be justified. The necessity of the expenditure should be assessed before it is approved. Only adverts that attract benefits to the church should be financed.
The sources of funds must be identified by the finance director. The finance director determines whether money will be obtained from loans or contributions. The sources of the money for church advertising must be identified to ensure that know shortages arise as the marketing project progresses.
The finance director makes a careful investment choice with the capital surplus or a capital that need not be placed in immediate use. Capital should not be left ideal in the bank account but should be invested to make more revenue for running the project.
A contingency fund should be established to take care of unexpected expenditures or to accommodate mistakes in cost estimation of the advertising. Low estimation of costs is a problem with many projects. Unexpected costs should, therefore, be considered when making budget estimates for the church advertisement.
The finance director is mandated to prevent wastage of finances by ensuring that funds follow responsibilities. An advertisement should only be undertaken if it is beneficial to the church. Unnecessary expenditure should be avoided by avoiding speculative spending. Any advert should market the church. If it does not achieve this end, it should not in the budget.
Proper financial planning is important for the success of any project. Good finance control and monitoring skills is essential for any finance director. The finance director’s role is, therefore, important in the planning and execution of the project.

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WePapers. (2020, December, 10) Finance Role Report. Retrieved June 15, 2024, from https://www.wepapers.com/samples/finance-role-report/
"Finance Role Report." WePapers, 10 Dec. 2020, https://www.wepapers.com/samples/finance-role-report/. Accessed 15 June 2024.
WePapers. 2020. Finance Role Report., viewed June 15 2024, <https://www.wepapers.com/samples/finance-role-report/>
WePapers. Finance Role Report. [Internet]. December 2020. [Accessed June 15, 2024]. Available from: https://www.wepapers.com/samples/finance-role-report/
"Finance Role Report." WePapers, Dec 10, 2020. Accessed June 15, 2024. https://www.wepapers.com/samples/finance-role-report/
WePapers. 2020. "Finance Role Report." Free Essay Examples - WePapers.com. Retrieved June 15, 2024. (https://www.wepapers.com/samples/finance-role-report/).
"Finance Role Report," Free Essay Examples - WePapers.com, 10-Dec-2020. [Online]. Available: https://www.wepapers.com/samples/finance-role-report/. [Accessed: 15-Jun-2024].
Finance Role Report. Free Essay Examples - WePapers.com. https://www.wepapers.com/samples/finance-role-report/. Published Dec 10, 2020. Accessed June 15, 2024.

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