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Andrew Mellon

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12y ago

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Why do organisations need policies regarding expenditure and financial management processes?

Organizations need policies regarding expenditure and financial management processes to ensure accountability, transparency, and consistency in financial decision-making. These policies help mitigate risks of fraud and mismanagement by providing clear guidelines for budgeting, spending, and reporting. Additionally, well-defined financial policies facilitate compliance with legal and regulatory requirements, ultimately supporting the organization's financial health and operational effectiveness.


Where does a payment go if you over pay on a mortgage?

It depends on your banks policies, but usually the overpayment is applied to the principal balance.


What are main elements of financial system in the Philippines?

One of the main elements of the financial system in the Philippines is financial claims. Other main elements are financial institutions, financial markets, government agencies, and law and policies.


What does a cfo do in a bank?

The corporate financial officer is responsible for setting the financial agenda for the organization. They help determine business practices and policies for banks.


How long does a principal have to review a recommended variable annuity transaction and make a suitability determination?

A principal typically has a specific timeframe to review a recommended variable annuity transaction and make a suitability determination, which is usually set by the firm's internal policies and regulatory guidelines. Generally, this process should occur within a reasonable period, often within 7 to 10 business days, to ensure compliance with suitability standards. It is essential for the principal to assess the client's financial situation, investment objectives, and risk tolerance before approving the transaction.

Related Questions

Role in which the president acts as the main architect of the nations public policies?

Chief Legislator


What does Genworth Financial do?

It is a company that offer life insurance policies to the public. Genworth Financial also provides many different other financial services outside of insurance policies.


What is a financial elk?

someone who buy policies


How did thomas jefferson change the federal financial policies?

Thomas Jefferson did change the federal financial policies by opposing a very strong centralized government.


How mch is mortgage insurance?

Depends on your principal, state & if other policies with same carrier.


Why do organisations need policies regarding expenditure and financial management processes?

Organizations need policies regarding expenditure and financial management processes to ensure accountability, transparency, and consistency in financial decision-making. These policies help mitigate risks of fraud and mismanagement by providing clear guidelines for budgeting, spending, and reporting. Additionally, well-defined financial policies facilitate compliance with legal and regulatory requirements, ultimately supporting the organization's financial health and operational effectiveness.


Why was Alexander Hamilton on money?

Alexander Hamilton was featured on U.S. currency, specifically the $10 bill, due to his pivotal role as the first Secretary of the Treasury and a key architect of the American financial system. He established the nation's financial foundation by advocating for a strong central government, creating a national bank, and implementing policies that promoted economic stability and growth. His vision and policies helped shape the United States' economic landscape, earning him a lasting legacy in American history.


What does the chancellor of exchequer do?

Makes decisions on Britain's financial policies.


Name for American Financial policies in 1980's?

Reaganomics


What is the department of education's job?

to set policies on financial aid


Name coined for financial policies adopted in America in 80s?

Reaganomics


Name coined for the financial policies adopted in America in the eighties?

Reaganomics