Register now or log in to join your professional community.
The costing manager seeks approvl of the finance manager as the finance manager is the person who can allocate funds if it is viable and is as per directons set by the company and its policy.
Technically, the level of Finance Manager is higher in the company's heirarchy. They both have their importance in the company, but usually in most of the companies Costing Managers are working under the supervision of of the Finance Manager.
the authority of financail manger is over the authorityof costing manager
Both having more or less authority but mostly if depend upon nature and policy of company, because in manufacturing concern i think cost manager having more authority and power then finance manager because cost manager having contacts with in the company.
It Depends Upon the Company Policy In Multinational Companies Director Finance or CFO Heads the Finance Department. The Cost & Budgeting Department is a part of Fiance Department therfore, Finance Director / Cheif Finance Officer / Finance Manager got the Approval Authority over the Costing Manager.
In Some Scenarios both Finance Manager and Costing Manager have to work together to make sure there is appropriate Cost and Budgetting done and also spent appropriately.
Authority should be least of the concerns in such scenarios.
If money cannot be spent appropriately, the two should be able to acknowledge that and work for alternatives considering the risks etc.
Costing Manager is a part of Fiancial manager. For that resons, Costing Manager will be accountable to Finacial Manager.
Financial manager approves the budget a costing manager may request. The both have to work together to make sure there is appropriate budgetting and is spent appropriately. Authority should be least of the concerns in such scenarios. If money cannot be spent, the two should be able to acknowledge that and work for alternatives considering the risks etc.
Its depends on the company policy and also individual ranking. but advisable, both side must discuss very profesionally in order to archieve the awesome result and helping boosting company profit.
Both are equaly important in a firm, no one had a authority over the other. Case to case and company to company it may differ
financial manager has authority over the costing manager
Better to ask your HR. As he will look what you company's hierarchy is.
