The role of financial management in achieving profits

[Shigobad20201]

The task of the financial department is to carry out financial planning to know what will be the situation in the future, before taking any decision. As for the second task, it is to develop some control standards to find out the reality of the financial position of the institution and to know the extent of rationality of the decision.
How does it contribute to increasing the income of the institution?

The role of the financial management in a company is to perceive the future and to try every possible means to save for any future occurrence that might happen in the future.

 

[Kvngsammy]

Once your financial team is able to get a grasp or manage your resources well, they'll be able to reinvest a part of the profits to the business, to also enable the business stay solvent

 

[Swazykid4all]

If you own a meteropolitan business you have to hire an accountant to check and manage your financial records to avoid excess spending. You also have to avoid eating your profits.

 

[Sotherefore]

If you own a meteropolitan business you have to hire an accountant to check and manage your financial records to avoid excess spending. You also have to avoid eating your profits.

Well you have to make use of the profit you are making in a business because that was the main purpose for which the business was established , but however a situation in which you use the profit of a business extravagantly without saving is not the best.

 

[Shigobad20201]

A financial manager Job is to take care of all the affairs that deals with the finances planning of an institution or organisations, they need to see him before any decision is taken concerning the spending.

The task of the financial department is to carry out financial planning to know what will be the situation in the future, before taking any decision. As for the second task, it is to develop some control standards to find out the reality of the financial position of the institution and to know the extent of rationality of the decision.
How does it contribute to increasing the income of the institution?

 

[tyrim88]

One thing that can break down an institution or organisation is the capacity of the personel in the organisation having below par strategic approach towards finance,because you will need to balance the books appropriatelly for the organisation to be able to pursue future prospect.

 

[Shigobad20201]

The main role of a financial manager is to manage all the finances of the company , he or she always study and try knowing how money is coming in and going out of the company

 

[Sotherefore]

When the finance of a company or business organisation is well manage obviously it will lead to more profit and good maintenance of the business. Financial manager knows the right way to use money in a business organisation effectively without over spending.

 

[jordans]

mostly, The financial manager keeps up or makes benefit by controlling the organization's cash, keeping up with costs and making any essential alterations to how the company is investing cash. The monetary manager’s obligations incorporate budgetary arranging, contributing and financing. Maximizing the esteem of the firm is the most objective of the financial manager.

 

[joy101]

I believe when you plan the money well and also invest it in a good way you can able to manage your funds very well, and also to know how you spend your funds it can really help you to boost your business as well.

 

[Shigobad20201]

I believe when you plan the money well and also invest it in a good way you can able to manage your funds very well, and also to know how you spend your funds it can really help you to boost your business as well.

A financial manager knows the strenght and the weakness of the organisation he or she is working for , he knows when they are making profit and not , and he also knows when theres time to invest and run a business .

 

[Partisan]

Financial management is strategic planning, organising, directing, and controlling of financial undertakings in an organisation or an institute. It also includes applying management principles to the financial assets of an organisation, while also playing an important part in fiscal management.

The objectives involved in financial management include:

• Maintaining enough supply of funds for the organisation;
• Ensuring shareholders get good returns on their investment;
• Optimum and efficient utilisation of funds;
• Creating real and safe investment opportunities

 

[joy101]

You are correct.
He is to Manage money, try to maximize profits and look for more ways to generate more Mo you can manage your money well by planning how to use the money as well, then you can maximize your business profit that you have make from the business, never to spend too much on the business.

 

[Chibson]

Proper management and administration is very important in any business venture because it will help to make the business to progress. If the management of the business is not visionary then your chances of making profit will be low. It is also very important to lead by example as a business owner so that your employees can copy you.

 

[Shigobad20201]

Financial management is strategic planning, organising, directing, and controlling of financial undertakings in an organisation or an institute. It also includes applying management principles to the financial assets of an organisation, while also playing an important part in fiscal management.

The objectives involved in financial management include:

• Maintaining enough supply of funds for the organisation;
• Ensuring shareholders get good returns on their investment;
• Optimum and efficient utilisation of funds;
• Creating real and safe investment opportunities

You just listed the roles of a financial management over the business , an the most important role is to make sure that there's enough fund on ground to manage the business.

 

[tyrim88]

If you own a meteropolitan business you have to hire an accountant to check and manage your financial records to avoid excess spending. You also have to avoid eating your profits.

One thing that make a lot of businesses to go down is the issue of not managing your finances very well,it is mostly neglected in the sence that an owner would think that hw can manage the issue very well,until they fall into crises.