Role of Financial Management As it is said that “It is not about having a lot of the money it’s all about managing them”. Financial Management means planning, organising, controlling and directing financial activities of an organisation or monetary resources of an organisation. Each and every firm must maintain an adequate amount of finance for the smooth running of their business. Any business will run smoothly with the active management of Finance.
Role of Finance Management There are several roles played by financial management in monitoring a company's business. They are as follows:
Finance decisions and controls: Financial management has a role to manage financial decisions and exercising control over the finances of the organisation. They make the use of ratio analysis, profit and loss analysis, financial forecasting.
Allocation and utilisation of Financial Resources: It is important to ensure that all financial activities of an organisation are used effectively and efficiently so that organisation is profitable, sustainable and viable in the long run.
Cash Flow Management : It is important for organisations to have sufficient working capital and cash flow to meet their operational expenses and emergencies. Financial management keeps track of what cash comes in and goes out all times.
Risk Management : Sound financial management prepares an organisation to forecast risks and plans strategies to tackle risks and emergencies effectively.
Which is the best institute to do this course from? Realpro Management and Skills School (RMS) is the best skill development and training college in the northern region. Its collaboration is with Tata Institute of Social SciencesSVE. RMS school not only gives theoretical knowledge but also imbibes industry industry-related which are needed to perform a job effectively are taken care of by them.RMS School aims to make youth entry skilled so that they can contribute not only in their development but can work for the betterment of the nation. A wide variety of courses are offered such as diploma and post graduation courses. RMS School aims to enhance the future of the students by giving them quality education.