A financial management system is the methodology and software that an organization uses to oversee and govern its income, expenses, and assets with the objectives of maximizing profits and ensuring sustainability. An important step in becoming a data analyst is working in any possible job such as a computer programmer, an administrative executive, a database administrator or a financial assistant. It is an essential part of organisational management and cannot be seen as a separate task to be left to finance staff or the honorary treasurer. Financial management involves planning, organising, controlling and monitoring financial resources in order to achieve organisational objectives.
There is no one model of a financial management system that suits all organisations, but there are some basics that must be in place to achieve good practice in financial management. Financial stewardship: your organisation must take good care of the financial resources it has been given and ensure that they are used for the purpose intended. Accounting standards: your organisation’s system for keeping financial records and documentation must observe accepted external accounting standards. Masters Programmes Discover your true potential with our world-class, action-oriented degree programmes.
We designed this course for the personal and professional development of graduates who want to work in accounting, strategy, finance and management fields. It is also suitable for other professionals wishing to fill the role of financial management in a private or government organisation. Strategic financial management integrates the financial management function into business strategy and every other part of an organisations operation. Applying strategic financial management knowledge and skills improves an organisations effectiveness and efficiency.
A distinctive course feature is its focus on present-day national and global developments in business strategy, management, accounting and finance. Helping an organisation compete more successfully through better strategy and financial management can be a rewarding career, in the UK or internationally. In this module you develop your knowledge and understanding of the fundamental concepts of finance, and the way in which financial decisions are reflected in financial statements.
You develop knowledge and a reflective understanding of methodological and philosophical issues in research and consultancy with specific reference to finance. You develop your knowledge and understanding of the fundamental theoretical principles of corporate finance. As the business environment becomes more complex and global, there is an increasing need for managers to understand the role that management accounting plays in supporting strategy and driving performance. You can use this essential business research tool and gain real-life financial experience.