Explain process of financial control, Financial Management

Assignment Help:

Financial Control: - The establishment as well as use of financial control devices is an important function of financial management. These devices comprise:

Budgetary Control
Cost Control
Ratio Analysis etc.

Process of Financial Control:-

Setting the standards
Measurement of genuine Performance
Comparison of genuine Performance with standards
Finding deviations as well as taking remedial actions.

Related Discussions:- Explain process of financial control

Agency policy theorem, How might management try to solve the problems foun...

How might management try to solve the problems found in agency theorem

Create a report that fully explains both directors views, The Directors of ...

The Directors of Rohan Plc are discussing the importance of the dividend policy on the market value of their firm. The Chairman considers that the dividend is important and does a

Pay back method, Ask I have included a simple capital investment problem wh...

Ask I have included a simple capital investment problem which is in Course Documents. We are going to use the same numbers for several classes and look at some of the ways that cap

Determine about the shareholders, Determine about the Shareholders Shar...

Determine about the Shareholders Shareholders, being the owners of the company, elect board of directors and vote on major issues that affect functioning and long term plans of

Importance of the cost of capital, Q. Importance of the cost of capital? ...

Q. Importance of the cost of capital? 1. Evaluating financial performance: the actual profitability of the project is compared to the projected overall cost of capital and th

Exchange requirements-, Exchange Requirements To ensure money supply, s...

Exchange Requirements To ensure money supply, some central banks require some or all of its foreign exchange receipts (generally from exports) be exchanged for the local curren

Compare and contrast a forward contract and an option, QUESTION (a) Bri...

QUESTION (a) Briefly define foreign exchange rate risk and the three different types of exchange rate risks (b) Identify and outline the different methods of internal and ex

Define how do mergers affect small businesses, How do mergers affect small ...

How do mergers affect small businesses? A: As per to a recent study by Federal Reserve and Wharton Financial Institutions Center economists, not a big deal. Their analysis reve

Net present value of the Lease, how to calculate the net present value when...

how to calculate the net present value when there is company tax rate and rate of return assume that lease is for 2 years payable at the begining of the yr, at the end of two yrs t

Accounting period - accounting principle, Accounting Period - Accounting Pr...

Accounting Period - Accounting Principle Accounting period refers to span of time at the end of that and for which the financial statement are prepared to throw light on the r

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages