"The business function concerned with profitability, expenses, cash and credit..."
The principles and practices of budgeting, accounting, and financial planning in the context of recreational organizations, ensuring long-term sustainability and prudent use of resources.
Financial Statements: This involves understanding the basics of financial statements and how they are used to analyze the financial health of an organization.
Budgeting: This includes learning about the various types of budgets, such as operating budgets, capital budgets, and cash budgets, and how they are used in financial planning.
Forecasting: This involves predicting future financial outcomes based on historical data and other relevant factors.
Cost Accounting: This includes understanding how costs are allocated and how they impact the overall financial performance of an organization.
Revenue Management: This involves maximizing revenue streams and ensuring that pricing strategies are aligned with organizational goals.
Cash Management: This involves managing cash flows and ensuring that there is sufficient liquidity to meet the organization's financial obligations.
Financial Analysis: This involves using financial data to assess the financial health of an organization and identify areas for improvement.
Investment Management: This includes understanding investment options, risk management strategies, and developing investment policies that align with the organization's objectives.
Debt Management: This involves managing debt obligations and debt financing options, such as bonds or loans.
Financial Planning: This involves developing long-term financial plans that align with the organization's goals and objectives.
Taxation: This includes understanding tax laws and regulations and how they impact financial decision-making.
Asset Management: This involves managing the organization's assets, including both tangible and intangible assets, to maximize their value.
Financial Risk Management: This involves identifying and mitigating financial risks, such as interest rate risk or exchange rate risk.
Financial Reporting: This includes preparing financial reports that adhere to Generally Accepted Accounting Principles (GAAP) and other regulations.
Corporate Finance: This involves understanding how financial decisions impact the overall strategy and structure of the organization.
Personal Financial Management: It is the management of one's personal finances, including budgeting, saving, investing, and managing debt.
Corporate Financial Management: It involves managing the financial resources of a corporation, including financial planning, capital budgeting, and managing the company's investments.
Non-profit Financial Management: It includes managing the financial resources of a non-profit organization, including budgeting, fundraising, and managing grants.
Public Financial Management: It includes managing the finances of the government, including budgeting, public revenue management, and debt management.
Investment Financial Management: It involves managing investments on behalf of clients or investors, including portfolio management, risk management, and financial analysis.
Asset Financial Management: It includes managing the assets of an individual or a company, including real estate, equipment, and inventory.
Risk Financial Management: It involves managing financial risk, including identifying, analyzing, and managing various types of financial risk, such as credit risk and market risk.
Strategic Financial Management: It focuses on managing a company's finances in the context of its overall strategic goals, including financial planning, forecasting, and analysis.
"...maximizing the value of the firm for stockholders."
"...short- and long-term financial resources..."
"Financial managers (FM) are specialized professionals directly reporting to senior management, often the financial director (FD)."
"The function is seen as 'Staff', and not 'Line'."
"...to ensure the objectives of the enterprise are achieved."
"Profitability, expenses, cash and credit..."
"...so that the organization may have the means to carry out its objective as satisfactorily as possible."
"...to carry out its objective as satisfactorily as possible."
"The efficient acquisition and deployment of financial resources..."
"...stockholders."
"Profitability" is one of the key areas of concern in financial management.
"The financial director (FD)"
"...the business function concerned with profitability, expenses, cash and credit..."
"...to ensure the objectives of the enterprise are achieved."
"The business function concerned with... cash and credit..."
"...senior management"
"Expenses" are one of the key areas of concern in financial management.
"...efficient acquisition and deployment of both short- and long-term financial resources..."
"To ensure the objectives of the enterprise are achieved."