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What is a computerised financial management information system?
financial information
How can someone learn to do financial management?
Well bro you know what? You can't really learn Financial Management. Its a technique for analysis of financial information. U wanna be good in it?? Well start analysing various balance sheets of different industries.. Or u can also take up a course for Management in finance..
What are the components of a financial information system?
Funds management, financial accounting, controlling
What are the components of financial information system?
Funds management, financial accounting, controlling
What are the characteristics of financial management information system?
A financial information management system is accurate, integrated with other systems and analytical. A good system will help management avoid problems by generating reports.
How does cost accounting connect with financial accounting and management accounting?
Management accounting gathered data or information from cost accounting and financial accounting. After that, it analyzes and interprets the data to prepare reports and provide necessary information to the management.
What application do management information systems have in financial management?
The chief financial officer analyzes historical and current financial activity, projects future financial needs, and monitors and controls the use of funds over time using the information developed by the MIS department.
What the relationship between financial management and management?
Financial management and management are closely interconnected and interdependent within an organization. Financial management is a specialized function that focuses on the planning, organizing, controlling, and directing of financial resources to achieve the goals and objectives of an organization. On the other hand, management encompasses a broader set of activities that involve planning, organizing, coordinating, leading, and controlling resources (including financial resources) to achieve overall organizational objectives. Here are some key aspects of the relationship between financial management and management: Decision-Making: Financial management provides crucial financial information and analysis that supports managerial decision-making. It helps managers assess the financial implications of various options and make informed choices that align with the organization's goals and financial sustainability. Resource Allocation: Financial management plays a significant role in resource allocation within an organization. It involves determining how financial resources should be allocated across different departments, projects, or initiatives to optimize their utilization and achieve desired outcomes. This aligns with the broader management function of allocating resources effectively and efficiently. Performance Monitoring: Financial management provides tools and techniques to monitor and measure the financial performance of an organization. It involves analyzing financial statements, conducting financial ratio analysis, and preparing financial reports to assess the organization's financial health. This information aids management in evaluating the overall performance and making necessary adjustments to ensure financial stability and growth. Budgeting and Planning: Financial management involves the development and implementation of budgets, which are crucial management tools for planning, controlling, and monitoring organizational activities. Effective financial planning and budgeting help management set financial targets, allocate resources, and evaluate performance against established financial goals. Risk Management: Financial management plays a vital role in identifying, assessing, and managing financial risks within an organization. It involves evaluating potential risks related to investments, capital structure, liquidity, and financial markets. Management utilizes financial information to make risk-informed decisions and implement strategies to mitigate financial risks. Communication and Reporting: Financial management provides financial information to management, enabling effective communication and reporting. Financial reports, such as income statements, balance sheets, and cash flow statements, provide insights into the financial results and financial position of the organization. Management utilizes this information to communicate financial performance to stakeholders and make informed strategic decisions.
Should a management accounting system provide both financial and non financial information?
accounting system provide both financial and non financial information.explain.
What are the roles of Management in Accounting?
The role of management levels in accounting is to get full information about the financial position in the organization to get the decision
What are the purpose of management accountong?
The purpose of management or managerial accounting is to obtain financial information to help make business decisions. Another type of accounting is financial accounting.
Financial and management accounting?
The Financial accounting is mainly for the people outside a given organization such as the shareholders. The management accounting provides information to the people within a given organization.
