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What is the definition of 'financial management'?
One of the three areas of the discipline of finance. It deals with the operation of the firm (both the investment decision and the financing decision) from the firm's point of view.ITs called financial mamagement or corporate finance
What is statement of budgetary resources?
The Statement of Budgetary Resources (SBR) is a financial statement used by U.S. federal agencies to provide information about the budgetary resources available for the period, including new budget authority, adjustments, and any resources that were used. It reconciles the budgetary resources with the actual outlays and obligations incurred during the reporting period. The SBR helps ensure transparency and accountability in federal financial management by showing how budgetary resources are allocated and utilized. It is a required part of federal financial reporting under the Government Accountability Office (GAO) standards.
What is the relevance of management to accountants?
Management is the process of coordinating people and other resources to achieve the goals and objectives of the organization. Thus, management if relevant to accountants in that they must choose and coordinate all available resources to accomplish their objective. These resources would include, material, human, financial, and informational (including internal and external environment factors) resources.
What is the difference between the perspective of financial management and accounting?
Financial management focuses on the strategic planning, organizing, directing, and controlling of financial activities, aiming to maximize shareholder value and ensure the efficient use of company resources. In contrast, accounting primarily deals with the systematic recording, reporting, and analysis of financial transactions, providing a historical view of a company's financial performance and position. While financial management is forward-looking and concerned with future financial strategies, accounting is retrospective and emphasizes compliance and accurate financial reporting.
Who are those entities which are subject to commission on audit?
Entities subject to the Commission on Audit (COA) in the Philippines include all government agencies, instrumentalities, and government-owned and controlled corporations. This also extends to local government units (LGUs) and other entities that receive government funds or resources. The COA is responsible for ensuring transparency, accountability, and proper financial management within these entities. Additionally, it audits any private entities that manage public funds or resources on behalf of the government.
Which of these offices repares a statement as to how the US government will distribute its financial resources over the next fiscal year?
office management and budget
Which offices prepares a statement telling how the US government will distribute it's financial resources over the next fiscal year?
Office of Management and Budget
What office prepares a statement telling how the US government will distribute its financial resources over the next fiscal year?
office of management and budget
What is the management of the money materials and resources of a government?
The management of money, materials, and resources of a government is known as public financial management (PFM). It involves planning, directing, monitoring, and controlling government finances to ensure efficient allocation and use of resources. This includes budgeting, revenue generation, expenditure management, and financial reporting to achieve economic stability and public welfare. Effective PFM promotes transparency, accountability, and sustainability in the use of public resources.
How can I find resources and support for helping with money management?
You can find resources and support for money management by seeking out financial literacy programs, workshops, and online resources offered by organizations like banks, non-profits, and government agencies. Additionally, consider reaching out to financial advisors or counselors for personalized guidance and support.
What is the difference between business management and finance management?
Financial management is the management of monetary resources in an organization. Business management is the management of all aspects of an organization, not only monetary resources but human resources, marketing etc.. as well.
What office prepares a statement telling how the US government will distribute its finnacial resources over the next fiscal year?
The Office of Management and Budget (OMB) prepares a statement detailing how the U.S. government will allocate its financial resources for the upcoming fiscal year. This document is known as the President's Budget Request and outlines the administration's priorities for federal spending and revenue. It serves as a proposal to Congress, guiding budget negotiations and appropriations.
Relationship management is a waste of financial resources Discuss?
Discuss the understanding by some authorities that relationship management is a waste of an organisation's resources.
Purpose of financial administration act?
The Financial Administration Act (FAA) is designed to ensure the proper management and accountability of public funds in government operations. It establishes the legal framework for financial governance, including budgeting, accounting, and reporting processes. The act aims to promote transparency, efficiency, and effectiveness in the use of taxpayer resources, thereby enhancing public trust in government financial practices. Additionally, it sets out the roles and responsibilities of various government entities in financial management.
What was the shift in the GAO's focus in the 1980s?
From the early 1980s, the GAO's focus centered on the development of financial and management systems. As a means of improving management of the government, resources were directed to improving internal control systems.
What is the definition of 'financial management'?
One of the three areas of the discipline of finance. It deals with the operation of the firm (both the investment decision and the financing decision) from the firm's point of view.ITs called financial mamagement or corporate finance
What is the goal if IT Financial Management?
The goal of IT Financial Management is to ensure that optimal use is made of the organization's financial resources and that this is achieved in compliance with the regulatory framework within which the IT service provider operates.
