It also includes applying management principles to the financial assets of an organisation, while also playing an important part in fiscal management. Take a look at the objectives involved:. The financial management department of any firm is handled by a financial manager. This department has numerous functions such as:. Doing a management course related to finance or gaining a finance degree offers excellent career opportunities.
Take a look at some of these diverse career options:. The official profile of the World's Business School.
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What is financial management? Take a look at the objectives involved: Maintaining enough supply of funds for the organisation; Ensuring shareholders of the organisation to get good returns on their investment; Optimum and efficient utilization of funds; Creating real and safe investment opportunities to invest in.stomexearjec.gq
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Financial management is also made up of certain elements. These include: Financial planning: This is the process of calculating the amount of capital that is required by an organisation and then determining its allocation. Financial control: This is one of the key activities in financial management.
Its main role is to assess whether an organisation is meeting its objectives or not. Is the management acting in the best financial interests of the organisation and the key stakeholders?
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Financial decision-making: This involves investment and financing with regards to the organisation. This department takes decisions about how the organisation should raise finance, whether they should sell new shares, or how the profit should be distributed. This department has numerous functions such as: Calculating the capital required: The financial manager has to calculate the amount of funds an organisation requires. This depends upon the policies of the firm with regards to expected expenses and profits. The amount required has to be estimated in such a way that the earning capability of the organisation increases.
Formation of capital structure: Once the amount of capital the firm requires has been estimated, a capital structure needs to be formed.
This involves debt equity analysis in the short-term and the long-term. This depends upon the amount of the capital the firm owns, and the amount that needs to be raised via external sources. Investing the capital: Every organisation or firm needs to invest money in order to raise more capital and gain regular returns. This could involve keeping a part of the net profit for contingency, innovation, or expansion purposes, while another part of the profit can be used to provide dividends to the shareholders. Money is required for various purposes in the firm such as payment of salaries and bills, maintaining stock, meeting liabilities, and the purchase of any materials or equipment.
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This can be done using financial tools such as financial forecasting, ratio analysis, risk management, and profit and cost control. The decisions we make are a reflection of our values and beliefs, and they are always directed towards a specific purpose.
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That purpose is the satisfaction of our individual or collective organisational needs. There are four types of values that we find in an organisational setting: individual values, relationship values, organisational values and societal values. Individual values reflect how you show up in your life and your specific needs-the principles you live by and what you consider important for your self-interest.
Organisational values reflect how your organisation shows up and operates in the world. Societal values reflect how you or your organisation relates to society.