Basic Financial Management Questions and Answers
Basic Financial Management Questions and Answers: Submit Your Question
- Board of directors
- Executive Committee
-> Financial Controller
•Accounting and Costing
•Statistics and Finance
•Taxes and Insurance
- Deciding the financial needs
- Raising the funds required
- Allocation of funds
•Fixed assets management
•Working capital management
- Allocation of Income
- Control of Funds
- Evaluation of Performance
- Corporate Taxation
- Other duties : to prepare annual accounts, carrying out internal audit, safeguarding securities, present financial reports to top management. Etc.
Non recurring Duties :
- Preparation of financial plan at the time of company promotion
- Financial adjustments in times of liquidity crisis
- Valuation of the firm at the time of acquisition and merger etc.
Uniform costing method can be advantageously applied:
-In single organisation having number of branches.
-In a number of firms in the same industry who are inter connected through trade association.
- In industries which are similar such as cotton, gas and electricity.