The article examines the issues of development of approaches and practice of financial management of an organization under current conditions. Today the highly competitive, volatile and complex external environment implies the changing role of the finance within the organization. Among the key competencies in the field of financial management we may see a growing importance of financial strategy and its link with corporate strategy, of improvement of approaches to costs and profitability analysis, of investment projects assessment and correlation between financial and non-financial goals, of ethical issues in finance and business and application of information technologies, and of work with large volume of data. The paper considers the practical aspects of transformation of finance role within a company, in particular, the directions for improving the work of modern financial management, issues of costs and profitability analysis, usage of new technologies and automation of financial operations.
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