Essay on Financial Management and Planning

Submitted By Bark12

Words: 326

Pages: 2

Open Document

Financial Management and Planning
FIN/486
January 12, 2015

Financial Management
Financial management consists of planning, forecasting, analysis, evaluation, and legal and regulatory issues. Financial management is the key to an efficiently running operation. Planning and forecasting are used to set goals and determine how the company will achieve those objectives. Analyzing and evaluations ensure that the organization is on track and achieved the set goals. A company is often made up of financial managers: accounts receivables and payables, payroll, tax and regulatory compliance, risk management, shareholder and investor relations, and accurate record keeping. The finance department is made up of the chief financial officer (CFO), controller, accountants, and analyst.
The objectives of sound financial management are: profitability, growth, efficiency, liquidity, and return on capital. It is important that a company be profitable so that liabilities can be paid and, in turn, foster growth. The management team should also focus on covering debt, ideally three times over, not just revenue. Objectives should be obtainable and in the right areas. Financial efficiency primarily means accounting accuracy to maintain a balance of liquidity to pay debts. An indicator of a corporation’s health is return on equity or well investors’ money is being used.
The Financial Planning Cycle The financial planning cycle includes: addressing the financial position, creating a business

Reporting Practices and Ethics Paper

Ethics Proper, precise, and ethically sound financial management and reporting is required of all healthcare organizations. According to Wisconsin Government (1994), “agencies are required to have an effective financial management system as a condition of receiving federal funds. Federal and state rules and regulations establish several criteria that the financial systems of agencies receiving funds must meet” (Basic Elements of an Effective Financial Management System, para. 1). Throughout this paper…

Words 950 - Pages 4

HNDB CLASS MANAGEMENT ACCOUNTING CHAPTER 1 Essay

Business Management Accounting Management Accounting The nature and purpose of cost and management accounting Contents 1 Accounting for management 2 Cost and management accounting versus financial accounting Accounting for management „ Introduction to cost and management accounting „ Data and information „ Attributes of good information „ Planning, decision-making and control „ Strategic, tactical and operational planning „ Cost, revenue…

Words 3769 - Pages 16

Essay about chapter 1

Objective 1.1 1) Management accounting: A) focuses on estimating future revenues, costs, and other measures to forecast activities and their results B) provides information about the company as a whole C) reports information that has occurred in the past that is verifiable and reliable D) provides information that is generally available only on a quarterly or annual basis Answer: A 2) Managers use management accounting information to ________ strategy. A) choose B) communicate C) implement…

Words 801 - Pages 4

Essay about Finance: Financial Management

What is Financial Management? Abstract Proper financial management is a very important aspect of a business. The most common organizational structure in a business has three key objectives, which are to create wealth for the business, generate cash, and provide an adequate return on investment. Everyone needs health coverage. There are too many Americans who are uncovered and medical expenses are not cheap. The Affordable Care Act puts consumers back in charge…

Words 1201 - Pages 5

Sample FPSB Financial Plan

Sample FPSB Financial Plan Table of Contents I. EXECUTIVE SUMMARY................................................................................................... 3 FINANCIAL MANAGEMENT ............................................................................................ 3 CURRENT POSITION ................................................................................................................... 3 PROPOSED POSITION ..........................................................…

Words 9723 - Pages 39

Economy: Finance and Projection Group Exercise Essay

Business Plan and Financial Modeling Technique Course Contents Chapter 1: Introduction 1.1 Objectives & Expectation Collection 1.2 Presentation by participants on MF operation in their organization 1.3 Overview of business planning framework Chapter 2 Situation Analysis 2.1 Institutional Analysis 2.1.1 Vision Building of MFIs – Existing Vision and Mission- Presentation by Participants 2.1.2 Conceptual clarity on Vision and Mission of MFIs 2.1.3 Group work : Finalization of Vision…

Words 379 - Pages 2

Essay on Charetered Managament Institute Level 7 Diploma - Course Details

Strategic Management and Leadership Level 7 Strategic Management and Leadership Contents Page Qualification structures Unit 7001 Unit 7002 Unit 7003 Unit 7004 Unit 7005 Unit 7006 Unit 7007 Unit 7008 Unit 7009 Unit 7010 Unit 7011 Unit 7012 Unit 7013 Unit 7014 Personal development as a strategic manager Strategic performance management Financial management Strategic information management Conducting a strategic management project Organisational direction Financial planning Strategic marketing…

Words 3591 - Pages 15

Cope Essay 1

Mba 613 Chapter 1 Budget: the quantitative expression of a proposed plan of action by management and is an aid to coordinating what needs to be done to execute that plan. P.10 Chief Financial Officer (CFO): also called the finance director, is the executive responsible for overseeing the financial operations of an organization. P. 13 Control: comprises taking actions that implement the planning decisions, deciding how to evaluate performance, and providing feedback and learning to help…

Words 570 - Pages 3

Essay about TAOBAO Chart With Task A

operations management; A planning personnel, responsible for product of document description, online marketing and sales promotions planning; An artist, be responsible for store visual beautification; A financial personnel, responsible for financial management; In addition, also need with accordingly with sales customer service personnel and logistics personnel, responsible for sales and after sales and distribution of work. (a) Operations manager 1. Responsible for store the overall planning, marketing…

Words 541 - Pages 3

Dealer groups Essay

1990s, financial advice was provided by various professionals such as stock and managed fund brokers and insurance agents, who incidentally also have products to sell. This origin is evident in the fact that several of the current large Personal Financial Planning organizations identified are associated with stockbroking companies, fund managers and insurance companies, hence the industry practice of referring to Personal financial Planning organizations as “dealer groups”. The financial planning…

Words 2588 - Pages 11