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Thea importancea ofa financea ina aa businessa cana nota bea emphasizeda enough.a Businessa
managersa anda ownersa usea financiala dataa everydaya withina thea operationa ofa theira
businesses.a Financea isa useda toa analyzea thea presenta anda projecta thea future.a Companiesa
cana nota operatea withouta thea benefitsa ofa financiala analysis.a
Financiala managementa isa thea practicea ofa strategizing,a directing,a organizing,a anda
controllinga financiala eventsa anda resourcesa withina ana organization.a Financiala managementa
helpsa attaina bettera allotmenta anda acquisitiona ofa financiala resourcesa anda guidesa
investmenta decision.a
Activitiesa thata aida financiala managersa area asa followsa buta nota limiteda to:a Financiala
statementa analysis,a Estimatea thea financiala impacta ofa projectsa anda initiatives,a Preparea anda
implementa aa workinga budget,a Teama decisiona makinga baseda ona sounda financiala data,a anda
Trackinga financiala performance.
Financiala managersa havea manya toolsa ina theira baga whena ita comesa toa managinga thea
companiesa assests.a Amonga thosea area Accountinga systems,a Expensea tracking,a Budgetinga
tools,a payrolla management,a Easya billinga anda invoicea tracking,a Inventorya tracking,a anda lasta
buta bya noa meansa leasta -a Taxa preparation.
Ia havea developeda aa familya accountinga systema baseda arounda quickena softwarea thata Ia havea
useda fora quitea sometimea toa helpa collatea bills,a paya said,a tracka budgeteda expensesa ana
incomea asa wella asa assimlatea dataa fora yeara enda taxa reporting.a Nota onlya isa thisa systema
helpfula ina mya spendinga trackagea buta ita alsoa isa aa musta fora mya investmentsa anda trackinga
theira performance.a
Thea purposea ofa financea withina aa businessa isa toa allowa botha companiesa anda individualsa toa
funda projectsa fora today,a toa bea paida ina thea futurea baseda ona incomea generateda froma
borrowinga anda lending,a investing,a sellinga anda tradinga capitala anda ofa coursea raisinga
capital.a Accountinga cana bea thoughta ofa asa aa waya toa keepa scorea ofa aa business'sa activities.a
Therea isa hardlya evera aa businessa decisiona madea withouta firsta checkinga thea financials.a
Aa fewa activitiesa thata involvea financiala managementa area producinga ana accuratea financiala
report,a monitoringa thea fixeda anda currenta sidesa ofa thea balancea sheet,a observinga thea
performancea ofa investmentsa anda ofa coursea advisinga ona mattersa ofa compliancea witha
regardsa toa financiala regulationsa anda planninga fora thea dreadeda taxes.a
Asa ana accountsa payablea specialist,a Ia usea toolsa toa monitora thea incominga anda outgoinga
balancesa toa makea surea wea alwaysa havea billsa covered.a Recentlya onea ofa oura sistera
companiesa hada toa shuta thea doorsa aftera tryinga toa survivea thea lockdowns,a crazya inflationa
anda let'sa nota evena geta starteda ona oila regulations,a ita gota toa aa pointa thata theya werea
drowninga morea anda morea soa shuttinga downa anda sellinga offa isa thea onlya optiona toa
hopefullya breakevena ata least.a Financiala managementa overseesa manya operations.a Botha thea
controllera reportera anda treasurera reporta toa thea Chiefa Financiala Officer.a Thea financiala
managera willa overa seea dada toa daya operations.a Thisa willa includea makinga financiala decisionsa
anda collectinga dataa toa makea decisionsa daily.a
Theya willa makea decisionsa abouta gettinga anda spendinga moneya receiveda froma investorsa
too.a Aa financiala managera maya bea involveda ina internationala affairs.a Thisa coulda havea thema
dealinga witha exchangea ratea changes,a changesa ina laws,a ora dealinga witha thea riska thata maya
bea involved.a Theya maya handlea businessa assetsa asa well.a Theya maya includea stocks,a bondsa
anda properties.Onea ofa thea toolsa aa financiala managera maya usea isa thea TVMa (timea valuea ofa
money).a Thisa willa analyzea riska anda timinga ofa casha flows.a Theya maya alsoa usea liquiditya
rationsa toa keepa tracka ofa assetsa anda liabilities.a Thena anothera isa profitabilitya ratios.a Theya
cana usea thisa toa tracka thea grossa profita margin.a Ia havea useda Quickbooksa toa tracka assetsa
anda grossa profita margin.a Ia founda ita verya interestinga howa ita cana evena calculatea
depreciationsa ofa itemsa fora you.a Thea rolea ofa financea ina businessa isa ana importanta one.a
Therea area manya differenta partsa ofa financea ina management,a anda theya area alla equallya
important.a Somea ofa thea rolesa ina financea ina businessa include:
·a a a a a a Accounting/Bookkeeping
·a a a a a a Reporting
·a a a a a a Accountsa payable/receivable
·a a a a a a Investments
·a a a a a a Riska management
Therea area manya differenta toolsa thata financiala managersa usea toa monitor/accessa thea healtha
anda performancea ofa aa business,a anda usuallya companiesa usea theira choicea ofa programsa
thata worksa besta fora them.a Fora example,a Ia wasa ana assistanta managera ata ana apartmenta
complex,a anda thea programa wea useda wasa calleda QuickBooks.a Ita hada alla thea differenta
programsa alla ina onea anda madea ita easya toa accessa anda navigatea thea financesa ofa thea
company.a Ita hada accountsa payable/receivable,a whicha wasa thea outsidea companiesa wea useda
fora lawna anda poola maintenance,a stores,a etc.a Ita alsoa wasa easya toa entera anda edita thea
tenanta namesa anda information,a anda evena entera paymentsa anda processa payroll.a Whilea
therea area manya financiala programsa thata companiesa cana choosea froma toa besta suita theira
needs,a sometimesa theya maya evena createa theira own,a thata cana bea evena morea beneficiala toa
them.a QuickBooksa isa aa greata programa anda toola fora businessa finances.a Ia havea founda ita toa
bea aa greata programa toa utilizea fora budgeting.a Manya companiesa havea starteda usinga
QuickBooka fora fiancea management.a Ia havea alsoa useda thisa programa fora financiala
managementa ofa mya owna businessa anda finda ita toa bea verya gooda toa handlea alla businessa
financiala needs.Financea isa aa criticala componenta ina justa abouta everya aspecta ofa aa businessa
anda allowsa companiesa toa makea groundeda decisionsa regardinga planning,a budgeting,a risks,a
casha flow,a etc.a Financea guidesa botha long-terma strategica decisionsa anda everydaya decisionsa
thata businessesa needa toa make.a Financiala managementa isa thea processa ofa managinga aa
company'sa financesa througha organizinga anda controllinga financiala activitiesa thata willa
benefita thea company.a Financiala managementa includesa activitiesa sucha asa managinga casha
anda credit,a spendinga capital,a hedginga anda investing.a Financea managersa usea financiala
statementsa toa accessa and/ora monitora thea healtha anda performancea ofa aa business.a Incomea
statements,a balancea sheets,a anda casha flowa statementsa alla providea financea managersa witha
thea informationa theya needa toa helpa businessa makea importanta financiala decisions.a Financea
managersa alsoa usea aa numbera ofa differenta ratiosa toa helpa gaina insighta ona differenta aspectsa
ofa financiala performance,a includinga asseta managementa ratios,a debta managementa ratios,a
etc.a Whilea Ia haven'ta useda anya ofa thesea toolsa personally,a I'vea hada toa worka witha thea financea
mangersa withina mya currenta organizationa toa geta expenses/projectsa approved.a Aa lota ofa
times,a we'rea requireda toa providea financea managersa witha manya piecesa ofa information,a ina
ordera toa movea forwarda witha aa purchasea ofa aa gooda ora service.a
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