Explain process of financial control, Financial Management

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

Explain the diversify investor's portfolio internationally, Why might it be...

Why might it be very simple for an investor desiring to diversify his portfolio internationally to buy depository receipts as compared to the actual shares of the company? Answ

What number of seats generates that maximum revenue, Q. In planning a resta...

Q. In planning a restaurant, it is estimated that a revenue of $6 per seat will be realized if the number of seats is at most 50. On the other hand, the revenue on each seat will d

Policy conflicts in debt and monetary management, Policy Conflicts in Debt ...

Policy Conflicts in Debt and Monetary Management: Co-ordination of operations is important so as to avoid differences in the policies of cash and debt management of the governm

Analysing performance through ratios, Analysing performance through ratios ...

Analysing performance through ratios Ratios are an effective way of analysing financial statements. A ratio is 2 figures compared to each other and can either be in absolute te

Board of directors, Q. Board of Directors Board of Directors - Individu...

Q. Board of Directors Board of Directors - Individuals responsible for overseeing the affairs of an entity including the election of its officers. Board of a CORPORATION which

Define can a corporation have too much working capital, Can a corporation h...

Can a corporation have too much working capital? Explain. A firm can have very much working capital if it is losing the opportunity to invest in high returning fixed assets and

Valuation an option-free bond with the tree, Let us construct a binom...

Let us construct a binomial interest rate tree for a 5.5% option free bond taking Table 3 as the binomial interest rate tree. Table 1 shows the various values in

FINANCIAL MANAGEMENT IS INTERDISCIPLINARY, RELATIONSHIP OF FINANCIAL MANAGE...

RELATIONSHIP OF FINANCIAL MANAGEMENT WITH OTHER BUSINESS FUNCTIONS

Cost of equity from new common stock, Weaver Chocolate Co. expects to gain ...

Weaver Chocolate Co. expects to gain $3.50 per share during the present year, its expected dividend payout ratio is 65%, its expected constant dividend growth rate is 6.0%, and its

Cash flow valuation technique, Cash Flow Valuation Technique The aim o...

Cash Flow Valuation Technique The aim of this research is to empirically enquire into how to value a company using discounted cash flow valuation technique within its real lif

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages