LEVELS OF MANAGEMENT: The number of levels in management increases when the size of the business and work increases

and vice versa. The level of management determines a chain of command, the authority & status enjoyed by any managerial position. The levels of management can in three broad categories:
Top level Middle level Low level

Top Level of Management It consists of board of directors, chief executive or managing director. The top management is the ultimate source of authority and it manages goals and policies for an enterprise. It devotes more time on planning and coordinating functions. Middle Level of Management The branch managers and departmental managers constitute middle level. They are responsible to the top management for the functioning of their department. They devote more time to organizational and directional functions. In small organization, there is only one layer of middle level of management but in big enterprise

there may be senior and junior middle level management. Lower Level of Management Lower level is also known as supervisory / operative level of management. It consists of supervisors, foreman, section officers, superintendent etc. According to R.C. Davis, Supervisory management refers to those executives whose work has to be largely with personal oversight and direction of operative employees. In other words, they are concerned with direction and controlling function of management.

The majority of financial managers start their careers as accountants after having undertaken professional accountancy training. Vacancies are advertised via the internet, by careers services, specialist recruitment agencies, in newspapers and publications. The professional accountancy bodies also produce vacancy lists, which include training opportunities. Larger employers offer structured graduate training schemes and opportunities to gain experience via placements and vacation taster courses. Skills required for a finance manager Leadership Skills: A financial manager oversees the finance or accounting department of an organization,

which requires leadership skills and the ability to direct the activities of others. A leader must be able to supervise workers, as well as delegate duties to other skilled finance workers. Communication and Business Skills: Financial managers work with other managers in the company and must have the ability to break down complex financial information into ordinary language. Managers must have business knowledge and an understanding of various departments in the organization. Job Knowledge: A financial manager must have an education in finance, accounting or economics to work in the position. In companies with an international reach, the financial manager must have expertise in international finance and global economics. International finance and global economics requires a strong knowledge of compliance laws and regulations. Interpersonal Skills: The manager of the financial department in a company interacts with workers and management in all aspects of the business, which requires interpersonal skills. Interpersonal skills are also an important quality when directing the activities of

workers and when working on a team to resolve financial problems and issues in the organization. Skills Required for Finance Manager at Low Level Management: The candidate should have knowledge about commercial and business environment. The candidate should have excellent communication skills. The candidate should have good decision making qualities. The candidate should have the potential to lead and motivate others. The candidate should have analytical approach towards work. The candidate should have knowledge about technical skills. The candidate should be aware of time management. The candidate should have problem solving technique.

Generally Indian Railways recruit finance managers through SCRA and through Civil Services Examination which is conducted by UPSC every year.

 The Finance and Accounts functions are integrated with the executive at all levels in the Railways. At the apex level of policy formulation, the Financial Commissioner, Railways, assisted by Additional Member (Finance), Additional Member (Budget), Adviser (Finance) and Adviser (Accounting Reforms) incharge of Budgeting, Expenditure, Earnings, Accounting and Accounting Development/Reforms, is there to aid and guide the Ministry of Railways. At the Zonal level, the General Manager is aided by the Financial Adviser and Chief Accounts Officer along with his assistants. At the Divisional level, which is only an administrative unit of a Zonal Railway, an identical arrangement exists to assist the Divisional Railway Manager in finance and accounts matters. The stores organisation, which is responsible for procurement of stores and materials worth thousands of crores of rupees, is again assisted by Divisional Finance Manager. In short we can say that there is hardly any part of railway activity with which the Accounts and Finance organisation is not directly associated in the decision-making process. In addition, officers of the Service also occupy management posts such as Divisional Railway Managers, Divisional Finance Managers, and Auditor Officers etc.