Financial Control
About Financial Control
Financial
controls are the procedures, policies, and means by which an
organization monitors and controls the direction, allocation, and usage
of its financial resources. Financial controls are at the very core of
resource management and operational efficiency in any organization.
Why is Financial Control important?
The benefits of financial control are
• Economic Use of Resources
• Maintenance of Adequate Capital
• Maximization of Profit
• Survival of Business
• Reduction in Cost of Capital
• Fair Dividend Payment
• Strengthening Liquidity
• Checking that everything is running on the Right Lines
• Detecting Errors or Areas for Improvement
• Increase in Goodwill
• Increasing Confidence of Suppliers of Funds
• Financial Discipline
• Coordination of Activities
• Ensuring Fair Return
• Reduction in Wastages
• Creditworthiness
• Setting the Standard
• Measurement of Actual Performance
• Comparing Actual Performance with Standard
• Finding Out Reasons for Deviations
• Taking Remedial Measures
Who should take the Financial Control Exam?
• Finance professionals
• Auditors
• Compliance Staff
• Entrepreneurs
• Innovators
• Anyone who wants to assess their finance skills
• Finance managers and senior executives
• Financial consultants
• Professionals working in outsourced companies responsible for finance
• Any professional with skills and knowledge on finance
• Anyone interested in finance
• Students
Financial Control Certification Course Outline
1. Financial Statements
2. Cash Flow
3. Fixed Capital Analysis
4. Capital Structure and Dividend Policy
5. Working Capital Analysis
6. Inventory Management
7. Cash Management Analysis
8. Foreign Exchange Orientation
9. Commodity Exchange
10. Financial Risk Management
11. Financial Controls