ABSTRACT
The role of the financial director in a company is strictly connected to the financial decisions. Financial decision-making requires specific knowledge and skills. This requires also the ability to understand the relation between the operating activities of the company and the need for funds with efficiency taken into account. It is necessary to understand the impact of the environment (especially the financial market) on the company's running, as well. All of these make the job of a financial manager quite challenging. The aim of this chapter is to unveil the specificity of financial flows and decisions. Then, the complexity of financial issues and the scope of duties of financial managers are revealed. Later, the changes in the financial function and financial managers are described. Then, the current research on the role and position of financial managers was reviewed. The description goes through the complex scope of duties of the financial managers against other managers' duties, and goes further through time with the changing role of the financial managers since the Fifties of the XX century up till now.
