This website uses cookies to ensure you have the best experience. Learn more

Financial Management As A Profession Essay

941 words - 4 pages

INTRODUCTIONFinancial Management means the efficient and effective management of money (funds) in such a manner as to accomplish the objectives of the organization. It is the specialized functions directly associated with the top management. The significance of this function is not only seen in the 'Line' but also in the capacity of 'Staff' in overall administration of a company. It has been defined differently by different experts in the field.It includes how to raise the capital, how to allocate it i.e. capital budgeting. Not only about long term budgeting but also how to allocate the short term resources like current assets. It also deals with the dividend policies of the share holders.The nature of financial management is the relationship with economics and accounting, as well as its functions and scope. Financial management is important in many aspects of life. One needs it for business, as well as for their personal life.Finance is used by individuals (personal finance), by governments (public finance), by businesses (corporate finance), as well as by a wide variety of organizations including schools and non-profit organizations. In general, the goals of each of the above activities are achieved through the use of appropriate financial instruments, with consideration to their institutional setting. Finance is one of the most important aspects of business management. Without proper financial planning a new enterprise is unlikely to be successful. Managing money (a liquid asset) is essential to ensure a secure future, both for the individual and an organization.CAREERS IN FINANCIAL MANAGEMENTManagement accountant - this type of post would involve working closely with the head of finance, to establish systems and processes to enable the timely and accurate delivery of monthly management accounts and budget information. The post holder would be involved in the annual budget setting process, provide ongoing support and direction for the budget holders as well as investigating and reporting on variances. They would also be involved in ad hoc projects and reports, such as contributing to the five-year business planning processes. The employer in this example was looking for candidates to be an active finalist or qualified accountant with experience of delivering a financial management service. Alongside expertise in computerized finance packages and proven analytical skills, an ability to demonstrate strong inter-personal, planning and team working skill.Assistant director of finance - working closely with the director of finance and commissioning. This would be an operational role focused on delivering high quality finance, planning and reporting function. The post holder would be responsible for improvements in systems and processes to improve the speed of reporting, financial analysis and planning and internal controls. This type of role would demand an ability to implement tight controls, effective communication, interpersonal and staff...

Find Another Essay On financial management as a profession

Pharmacy as a profession Essay

1834 words - 7 pages test regularly. Most of the pharmacy nowadays is providing this service long time ago and it is convenient for people who live far away from hospital and reduces their waiting time in hospital. Conclusion Pharmacist is a profession that can help the public to live a healthy life by providing appropriate medication for them when necessary. Pharmacist is evolving as a popular profession in most of the places in the

The United States Army as a Profession of Arms

625 words - 3 pages of rules of engagement. The ethical Soldier is a member of this profession and understands his role as such. At the forefront of this profession is the Soldier. The Army “creates its own expert knowledge, both theoretical and practical.”2 This shows that the Army is constantly refining its knowledge of the expertise. The Army expects the self-development of its Soldiers in a continuous manner. Even though the environment many change, the Army

KNOWLEDGE MANAGEMENT AS A MANAGEMENT TOOLS

983 words - 4 pages Internet, the environment drastically changes. Today, due also to the offshoring of data management functions and the globalization of business enabled by the Internet, companies may know little or nothing about the users (including, in many cases, employees) accessing their systems and it is more difficult for companies to deter users from accessing information contrary to company policies. Finally, as a result of trends toward ubiquitous computing

Human Resource Management as a competitive advantage

2390 words - 10 pages is key to delivering financial success in such a highly perishable, inimitable and subjective industry, (Lockwood & Jones, 1994). From experience, it is the human assets that are a key source of sustainable advantage. However, this utopian ideology is hard to achieve in an industry characterised by high labour turnover, poor perceptions as employers and stressful working conditions, (Berta, 2003). Moreover, 75% of the hospitality workforce in

Paper on moderation management as a treatment

1377 words - 6 pages during chemical use screenings, 1) to abstain from use if they are 'dependent' drinkers, or 2) to practice moderation if they are not dependent. A dependent drinker is defined as one who, as a result of one's drinking, experiences increased alcohol related health risks, an inability to control consumption, growing tolerance, need for consumption, and/or withdrawal signs without regular consumption. Moderation management attempts to help the

Goal-setting as A Management Tool

2150 words - 9 pages It is believed that goals are essential in our realistic society, especially in the business world. Goal-setting is becoming widely used in organizations as a management tool for assessment. "Goals are important because organisations exist for a purpose, and goals define and state that purpose" (Samson & Daft, 2003 p.214). For the attainment of this purpose, a consideration of an effective organization is a required part of a manager's job

Walmart: A Strategic Management Case study Financial Perspective

976 words - 4 pages Financial perspective: Objectives chosen are a. Increase return on investment b. improve asset utilization c. Ensuring positive cash flow by decreasing operating expense d. Maximize long-term profitability Learning & Growth perspective: Objectives chosen are a. Leveraging technology to improve productivity so as to close skill gaps. b. Foster open innovative culture and hire, develop and retain best performers Customer

Evaluation of Performance Management as a Management Process

3084 words - 12 pages The management process I have chosen to evaluate for this project is Performance Management. Performance Management is a management process put in place by an organisation to ensure that employees are aware of the level of performance expected of them in a particular role within said organisation, as well as any individual objectives they will need to achieve to achieve the overall organisational objectives. Evaluation of Performance

A DISCUSSION ABOUT THE FAILURE OF FINANCIAL ENGINEERING AND CORPORATE GOVERNANCE AS A CAUSE OF THE GLOBAL FINANCIAL CRISIS

1494 words - 6 pages Financial Globalization that has been described above as one of the reasons for the changes in the Corporate Governance. The main reason for this is that the Financial Globalization brought both a reduction in the regulation of the banking system and more liberalization of the economy than the one the system was able to accept in the long-term. Regarding the reduction in the regulation of the banking system, it was the neoliberalism that erupted

Practical Application of MBO as a Management Theory

1600 words - 6 pages for achieving pre-determined goals and objectives, that are ideally specific, time defined, challenging and measurable, (Schermerhorn et al, 2004).Management by Objective PrinciplesMBO endeavors to increase organizational performance by supporting goals and subordinate objectives throughout the organization. Hoopes (2003), discusses MBO as proposed by Peter Drucker referencing that, MBO requires a manager and subordinate to collaborate in setting

PRINCE 2 as a Methodology in Project Management

982 words - 4 pages PRINCE 2 as a Methodology in Project ManagementWhen I first started venturing into this field, project management has always just been about logically planning projects, setting targets (finances & time), retaining control of the project from start till completion and evaluating to review whether objectives have been met.My experience in this field has allowed me to better understand the essential roles and responsibilities of a project

Similar Essays

Fm As A Profession Essay

882 words - 4 pages Financial Management means the efficient and effective management of money (funds) in such a manner as to accomplish the objectives of the organization. It is the specialized functions directly associated with the top management. The significance of this function is not only seen in the 'Line' but also in the capacity of 'Staff' in overall administration of a company. It has been defined differently by different experts in the field.It includes

Nursing As A Profession Essay

1005 words - 5 pages could be also attributed to nursing university faculty shortages, financial barriers, general lack of educational commitment, and lack of cohesive nursing culture (47) which erodes the status and prestige of the profession. Furthermore, issues of compensation exist. A common complaint is the lack of pay differential between associate degree nurse pay and bachelor nurse pay. For example, the local differential at area hospitals may be as little as

Teaching As A Profession Essay

2323 words - 9 pages usually turn towards study in other fields with the same reasons as the Caucasian student does. The lack in financial compensation and classroom management are the reasons, but researchers have found in the case of the African American student, negative memories from their own personal experiences while in school contribute to them never considering the profession as an option. A.J. Branch, author of Increasing the number of teachers with

Army As A Profession Essay

682 words - 3 pages The US Army campaign issues in todays world are growing more relevant by the day. As a result it is increasingly important for the US Army to launched the Army White Paper the Profession of Arms. Have you ever hear about this campaign before and are you part of it? This white paper should meet a common understanding beyond the US Army soldiers, however the Army as a profession of arms it self. its has some meaning to fully understanding. In