Understanding financial management

The entire gamut of planning, organizing, directing and controlling the monetary operations of any establishment is financial management.

Irrespective of whether the liability is for a minuscule business, one subsidiary of a large corporation or the whole conglomerate itself, the process of handling finance is the same. There could be variations in the methods and magnitude of acquiring and utilization of funds certainly but the importance of skilled financial management is unquestionable.

Checking cash flow of both receipts and expenditure, forecasting the movement of money to observe whether there will be shortage or surplus and plan accordingly for loans or investments, are some of the functions of financial management. Limiting the consequences of risks arising from disasters caused by products or processes of an industry, establishing and updating accounting systems for business dealings also fall under the basic financial management functions. It should be noted here that it is necessary to understand that the designing and diversification programs that are best suited for financial management of the business.

Knowledge about special State and Federal laws and regulations, and also of International procedures and operations that influence and have a direct or indirect impact on the company, admirable interpersonal and analytical skills and aptitude for clear communication to deal with diverse people and to work as a team with other departments of the firm, and a basic understanding of what the higher authorities expect from a financial manager is an absolute necessity, a pre-condition to apply for this job.

Visionary thinkers who have the same goals for the financial resources of the enterprise as its proprietors, and who have an eagerness and passion to promote and develop the business in the currently prevalent global economy are qualified of being an asset themselves to any business house.

You can always hire some of the best financial advisors who can manage your personal or business finances.

YOU MAY ALSO LIKE

  • 4 budget-friendly smartphones that spell quality

    When we talk about phones, each one of us would love to get our hands on the phone that is currently reigning the market. We are blown away by the different features it is equipped with, the HD cameras that click pictures that look straight out of a photo shoot, the massive storage that wouldn't have you fretting since you wouldn't have to delete any images! Such a 4G phone is what we crush upon. However, the bubble is ruthlessly burst when we think of the next step that emerges after you select your dream phone: the budget.

    Before you start sobbing, here's a good news for you - all those features of the 4G phone that captured your fancy can now be found in certain budget-friendly phones as well. Here's a list of some budget-friendly phones that you shouldn't give a miss when you come across a 4G phones sale.

    • Moto G5 Plus - Simply put, Moto G5 Plus is the perfect budget-phone ever. You can avail all those wonderful features you were fascinated with in a more expensive phone. The Moto G5 Plus comes with a sturdy metal design, a 5.2 inch full HD screen, lightning-fast charging, fingerprint sensor with a 64 GB internal storage!
    • Moto G4 - A 4G phone in $129! A dream come true for a lot of individuals who were mesmerized by the features of a 4G phone and wished for a budget-friendly phone. This phone is compatible with all the major US carriers and has 32 GB internal storage. If the phone's exterior is what you are worried about, fret not. The phone's robust exterior gives it a very refined look
    • iPhone 5S - iPhone is everyone's dream phone, hands down. If you think that you can't avail of an iPhone, think again. The iPhone 5S, though visibly smaller than its successors, is considered to be the most user-friendly among the entire lot. The HD camera, the huge internal memory, and the fact that it fits right into the palm of your hands, makes it quite endearing to the users
    • HTC One A9 - Here's a 4G phone that goes easy on your wallet yet hits hard with the features. This phone might look similar to the iPhone but that's where the similarities end. An android-powered phone with a 32 GB internal storage, long-lasting battery, and a decent camera at a good price is what you cannot afford to lose

    These 4G phones, though budget-friendly, have an acquired quality to it. Price and quality repel each other at times, but not with these phones. So, the next time when you wouldn't know which phone to choose in a 4G phones sale, think of these phones.

  • Dealing with patients suffering from addiction
    Death by drug overdose in celebrities trouble us. They have fame, influence, and money, and they can get whatever they want. However, they are trapped in the vicious cycle of addiction. The year 2016 started with the death of singer Natalie Cole, nine-times Grammy award winner, who lost her fight against substance abuse. Daughter of the Jazz legend Nat King Cole, Natalie died in Los Angeles at the age of 65. Los Angeles in California has gained a notorious reputation for being rife with a serious drug problem. Many theorists have pointed out the need to intervene at a behavioral level for addicts. Dealing with an addict in the first stage, one needs to make changes in his psyche and behavior is dangerous. Once they have developed solid recovery tools, they can safely probe a patient’s psyche. For such patients, a phased approach is required. For some, the patient needs to uncover therapy and acquire recovery skills simultaneously. Such patients require a treatment plan that understands underlying issues that stop the recovery. Those patients with a major personality disorder who are dependent on drugs then therapy is of little use. It is important that psychotherapy is placed in a proper setting for it to take effect. People who have lifestyles and egos intact have shown improvement with the traditional psychotherapy. The failure to find pain, maladaptive, the way of thinking, feeling, and behaving leaves a person psychologically vulnerable to relapse and failure to achieve improvement. Ego deficit creates an addict’s inability to experience, label, process, and manage his or her emotional life. They face an emotional flooding with inner emptiness with an outer rush of emotions which they try to drown with the help of drugs. Drugs that are used for their ability to either numb, excite, calm, energize, sedate, sexualize, narcotize, and induce both ecstatic and fantasy states. They also have increased dependency on people around them; they manipulate the people so that they can be "taken care of." They themselves do not have the nurturing capacity and hence look for supplies from the outer world. If they do not have a family, they include another person as their "object" or "subject."  They extremely narcissist and pass responsibility and blame on others. These bail them out of every sort of problem. By avoiding personal responsibility, they fail at taking care of themselves. They try and manipulate others to take care of them with childlike behavior. It is the most important methodology to establish facts by taking complete biopsychosocial histories from patients and the direct behavior observation of the patient. The history is to be corroborated by the family and close friends, etc. Such history includes the following information: social history, medical history, educational history, sexual history, vocational history, family history, substance use history, and criminal history. If you wish to give yourself or a loved one another chance then get in touch with Los Angeles drug rehab or California drug rehab centers for more information.
  • A brief overview of personal loans from Discover
    A personal loan is one of the most preferred forms of borrowing in the market. It allows borrowers to achieve their personal goals with a flexible repayment tenure. Banks, as well as non-banking financial institutions, offer different types of personal loans that vary in terms of tenure and interest rate. Those with a bad credit score might have to pay a higher interest rate on the loan. The process of application and approval of the loan is simple and straightforward. There are multiple lenders in the industry, but Discover personal loan is known for its excellent customer service, a simple application process, and zero processing fees. They offer loans for different purposes and the loan has a long repayment tenure. You may use the funds for various reasons such as one or more of the following.
    • To finance purchases for your business
    • To consolidate your existing debts
    • To fund a wedding
    • To meet outstanding medical bills
    • To go a small vacation
    • To renovate your home
    You may use the personal loan calculator offered by Discover personal loan in order to estimate the amount you will be required to pay each month as an installment. Having a positive credit score goes a long way with regard to the interest rate and the tenure of the loan. The loan is available for varied tenures, but it also means that you will have to pay a higher amount of interest if the loan has a longer tenure. It is important to consider your monthly cash inflow in order to estimate the monthly installment amount you may be able to pay. If you wish to consolidate a loan, you may use the calculator to estimate the amount you will save on such a consolidation. It will help you turn your high-interest loan into a low-interest loan that is easier to repay. Personal loans are highly preferred by business owners as well as salaried employees to meet their financial needs. The loans have consumer-friendly terms and conditions and are easy to repay. Once you have decided the amount of loan you require, you may apply for the same online with an application form, an identity proof, and a proof of your income. The loan will be processed at the earliest and the funds will be transferred to your account. However, check your credit score before you make a loan application so that you know the amount of interest you may have to pay.
  • 5 best online accredited universities
    At the moment, pursuing studies via online universities can be an incredible option, especially if you are based in a region with limited academic options or have professional or personal responsibilities to take care of. Moreover, as compared to a traditional degree, it is a financially viable alternative. However, since the field of education has become increasingly competitive, it is imperative that you weigh the pros and cons before arriving on a final decision. Your first job is to check the university's reputation, types of courses offered, the faculty, mode of instruction and last but not the least its accreditation status. It natural that gathering all this data can be a time-consuming task, therefore, to make your work easier, here are some best accredited online universities of 2018 that you can consider applying to. Harvard University The Harvard University has an extensive range of academic options for all kinds of students such as podcasts, free courses, non-credit certificate programs and graduate degrees. Harvard is one of the best online accredited universities that use various technologies and platforms to make online education less challenging and more rewarding. One such example that demonstrates their effort is the edX platform which was a collaborative project between Harvard and MIT. Harvard offers two types of online programs, i.e., entirely self-directed courses which have to been completed within a certain timeframe and are only available online. The second type, on the other hand, is delivered in a hybrid format, i.e., a combination of online and on-campus instruction. Students enrolled in credit-based programs at Harvard Online will be given transcripts. Columbia University If you are specifically interested in finishing a master’s degree, then Columbia University Online is one place you can rely on. Apart from graduate programs, they offer numerous non-credit certificate programs for people who wish to work in the fields of business, health information technology, and environmental sustainability. These specialized courses can also help in grooming students for advanced-level degrees such as a master’s degree at Columbia University. The courses are either just available online or in a hybrid form with evening classes and fieldwork options during the weekend. Furthermore, students who opt for Columbia’s online classes get access to other academic opportunities such as the Coursera programs which include virtual classes of the partnered universities across the world. Johns Hopkins University The John Hopkins University is one of the most celebrated institutions in the country for their research and educational efforts. Currently, they have over 240 degree and certificate courses spread across nine divisions which covers a broad range of online programs. These online options are associated with disciplines such as teaching, engineering, healthcare, business, arts, and science. Course offerings are pretty comprehensive comprising bachelor’s, master’s, doctorate and professional certificate classes. These can be pursued as part-time or full-time programs. Moreover, they are delivered in both formats, online and hybrid. The students studying online at John Hopkins University are provided with online resources such as JHU library materials, academic advisement, a 24/7 help desk, student assistance via phone, e-mail, and Skype. University of Southern California At University of Southern California (USC) Online, you can explore numerous graduate-level and certificate programs including popular subjects such as engineering, psychology, and teaching to specially-tailored programs such as Geriatric Dentistry and Geospatial Leadership. Depending on the nature of the course, the mode of its delivery will be decided. For instance, a teaching or social work degree will require field work, so it will be managed in a hybrid format. However, there’s no need to worry as USC will help the students located in distant regions to arrange their research base. The USC, at the moment, also has some programs specially designed for military students and their coursework involves subjects such as military social work and cybersecurity. Moreover, they offer a master’s degree in business for veterans. Illinois Institute of Technology (IIT) The IIT currently only focuses on fields such as science, technology, and research. Therefore, their online courses essentially cover specializations concerning business, human sciences, architecture, and applied technology through hybrid or online medium of instruction. Students can choose from bachelor’s or master’s degrees. IIT has developed some of its own online professional development courses which are a combination of lectures and lab work. A considerate number of these courses are suitable for people working in the IT industry. Apart from the above mentioned best online accredited universities, you can also check schools like Drexel University, Carnegie Mellon University, Lehigh University, Florida Institute of Technology, University of Denver and New York University for great online courses. These best online accredited universities also offer financial aid to their students studying remotely.
  • How to choose the right pizzelle maker
    For cookie lovers, one of the ongoing struggles is to find the best pizzelle makers available in the market. Pizzelle refers to a kind of dessert of Italian origin, similar to waffles, which is made of flour, eggs, butter, vanilla, and other flavorings. The delicious dessert is the result of a combination of the finest ingredients as well as the use of the best pizzelle maker. There is a huge variety of pizzelle makers available in the market. If you're looking to find a pizzelle maker, here are a few things to consider while making the final pick. Electric or stovetop pizzelle maker While making the choice of a pizzelle maker, one of the primary considerations is between the electric or stovetop version. While the electric variety that uses an electrical source for power is more popular and is available in both nonstick and uncoated surfaces, the stovetop variety is more of a traditional kind that uses an outside heat source for baking. One of the advantages of an electric pizzelle maker is a fixed cooking time due to a constant temperature, unlike the stovetop version where cooking time varies because of inconsistent temperatures. Uncoated vs. nonstick Another important point to consider is whether to go for the uncoated or opt for the nonstick type. Although the uncoated variety makes crispier and thinner cookies, it needs seasoning of the pizzelle maker before baking to avoid sticking. Nonstick variety, on the other hand, is much more convenient to use due to the non-stick coating which makes baking as well as after-use cleaning easier. Shape and size of the pizzelle maker Pizzelle makers are available in different shapes and sizes. The size selection should depend on the number of cookies you are planning to bake. Pizzelle makers can make from a two to four pizzelle at a time and the choice rests on you. User-friendliness of the pizzelle maker While choosing a pizzelle maker, there are a few other things that you need to consider. Before making the final selection, make sure you have answers to the following questions.
    • Is the pizzelle maker you’re choosing easy to operate and clean?
    • Does the material stick to the plates often?
    • Is the product safe to use with all the necessary equipment?
    Lastly, don’t forget to read online reviews and compare prices, before buying a pizzelle maker. Also, to ensure high quality and durability, you must invest in a branded pizzelle maker.
  • 4 best lactose-free milk products to buy in 2021

    Milk has recently come under scrutiny for its high lactose content. The human body has no problem with lactose when young. However, as one gets older, lactase, an enzyme that breaks down lactose into simple sugars, decreases. This makes it difficult for the body to tolerate milk sugar. Therefore, lactose intolerance is a common problem.

    People that are lactose intolerant can go with lactose-free milk products, which contain lactase to help digestion. Many brands sell lactose-free milk, but here are the best of them.

    Westsoy unsweetened soymilk
    Certified by USDA Organic, a certificate granted to all organic agricultural products, Westsoy unsweetened soymilk is high in protein. It contains no nuts and gluten, and most importantly, is free of lactose. It is made from natural organic ingredients that are as good and healthy as the ingredients in regular milk. Also, it doesn’t contain additional ingredients like sweeteners or additives and is a good source of potassium as well as iron.

    So Delicious coconut milk
    With over 30 years of experience in dairy-free spaces, So Delicious sells frozen desserts, melty shreds, creamy yogurt alternatives, and smooth plant-based beverages and creamers. Its coconut milk is lactose-free, gluten-free, and contains no artificial flavors or colors, hydrogenated oil, and trans fat. It is certified vegan and is a great substitute for dairy milk.

    Silk almond milk
    This almond milk by Silk is low in fat but is a good source of calcium, making it great for the bones. It also doesn’t contain saturated fat, cholesterol, almonds, and fructose corn and is an excellent source of iron, potassium, and vitamin D, A, and E. It has a bit of vanilla flavor as well, providing 450 mg of calcium per cup serving, which is 50% more than regular dairy milk.

    Califia Farms oat milk
    This oat milk tastes delicious and feels just like dairy milk. It has less sugar than sweetened plant milk and is an excellent source of calcium and omega-9 fatty acids. Like all the other milk products on this list, the Califia Farms oat milk doesn’t contain gums, stabilizers, or carrageenan. There’s no nuts, soy, gluten, and preservatives in it either.