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What is the purpose of IT financial management?
The purpose of Financial Management is to ensure that: • Money is managed and spent wisely • The financial resources available align fully with the organization's plans and requirements for IT service delivery • Investment decisions are sound and relevant to the organizations objectives • Financial risks are identified and managed effectively • Governance arrangements are in place to ensure the effective stewardship of financial resources and to define clear accountabilities • The organization complies with all relevant financial regulatory obligations and the overall financial policy and strategy of the business.
What are the risks associated with buying liabilities?
The risks associated with buying liabilities include potential financial losses, legal obligations, and negative impacts on creditworthiness. Liabilities can lead to debt accumulation, interest payments, and potential default if not managed properly. It is important to carefully assess and understand the liabilities before making a purchase to mitigate these risks.
What are the potential risks and benefits associated with debt rollover?
Debt rollover can help manage short-term financial needs but may lead to higher interest costs and long-term debt accumulation. It can provide flexibility but also increase financial risk if not managed carefully.
Non financial risk?
i assume by non-financial risks, you mean business risks. Business risks refer to the kind of risks that could damage the performance of the business (IE, change of management, decreasing customer base, etc)
Should I get a credit card for my LLC?
Getting a credit card for your LLC can be beneficial for managing expenses and building credit, but it also comes with risks if not managed properly. Consider your business needs and financial discipline before deciding.
What are the major Categories of risks?
Pure and speculative risks
How do you known what stock to buy?
Your broker can advise, but it is speculative & there are risks.
What is the difference between pure and speculative risk?
1. Pure Risk situations are those where there is a possibility of loss or no loss. There is no gain to the individual or the organization. WHERE AS Speculative Risks are those where there is a possibility of gain as well as loss. The element of gain is inherent or structured in such a situation. 2. Pure risks are generally insurable while the speculative ones are not. 3. The conceptual framework of the risk pooling can be applied to the pure risks, while in most of the cases of speculative risks where it is not possible. However, there may be some situation where the law of mathematical expectation might be useful. 4. Speculative risk carry some inherent advantages ti the economy or the society at large while pure risks like uninsured catastrophes may be highly damaging. 5. In pure risk, for example - a car meet with an accident or it may not meet with an accident. If the insurance policy is bought for the purpose, then if accident does not occur, there is no gain to the insured. Contrarily, if the accident occurs, the insurance company will indemnify the loss. In speculative risk, for example - if you invest in the stock market, you may either gain or lose on stocks.
What is the purpose of IT financial management?
The purpose of Financial Management is to ensure that: • Money is managed and spent wisely • The financial resources available align fully with the organization's plans and requirements for IT service delivery • Investment decisions are sound and relevant to the organizations objectives • Financial risks are identified and managed effectively • Governance arrangements are in place to ensure the effective stewardship of financial resources and to define clear accountabilities • The organization complies with all relevant financial regulatory obligations and the overall financial policy and strategy of the business.
What is speculative business?
A business is speculative to the extent that it takes risks and tries things who outcome is uncertain. A specualtion in essence says "Maybe this will happen..." as compared to known quantities and established commercial patterns.
What is the meaning of financial statement level risk?
Financial statement level risks are risks of materials misstatement of the financial statements. These are the same for both audit of financial statements and audit of internal control.
What do you call a person who takes financial risks to start a company?
A person who takes financial risks to start a company is called an entrepreneur
What are the risks associated with buying liabilities?
The risks associated with buying liabilities include potential financial losses, legal obligations, and negative impacts on creditworthiness. Liabilities can lead to debt accumulation, interest payments, and potential default if not managed properly. It is important to carefully assess and understand the liabilities before making a purchase to mitigate these risks.
What are the potential risks and benefits associated with debt rollover?
Debt rollover can help manage short-term financial needs but may lead to higher interest costs and long-term debt accumulation. It can provide flexibility but also increase financial risk if not managed carefully.
Non financial risk?
i assume by non-financial risks, you mean business risks. Business risks refer to the kind of risks that could damage the performance of the business (IE, change of management, decreasing customer base, etc)
What are the financial risks for a veterinarian?
The financial risks for a veterinarian are mainly associated with the demand for their services. A veterinarian needs to invest in modern equipment but this does not guarantee jobs.
Should I get a credit card for my LLC?
Getting a credit card for your LLC can be beneficial for managing expenses and building credit, but it also comes with risks if not managed properly. Consider your business needs and financial discipline before deciding.
