Financial Management

The Financial Management that you need to have a planning, organizing, directing and controlling the financial activities such a procurement and utilization of funds of the enterprise. And it also means applying general management principles to financial resources of the enterprise. 

The Accounts Receivable also known as debtors, this is the money owned to a business or a clients and this will be shown on the balance sheet as an asset. And it is one of the basics of operating a business for keeping up with the money that is owed by clients as well as maintaining an accurate record of money received from clients that is to be applied to the amounts they currently owe. And also to identify the aging on older accounts and work with the client to resolve any issues that may be preventing the payment of accounts that are older than standard terms of payment.

The Accounts Payable also known as creditors is the money owed by the business to its suppliers and it will be shown on the balance sheet as the liability. It is the unpaid accounts, bills or statement for goods or services by outside services, vendors or suppliers. This debt often must pay, either partially or in full, each month.

The General Ledger is a book of final entry summarizing all of a company’s financial transactions, through offsetting debit and credit accounts. And it is also a collection of the firm’s accounts. 

The Fixed Assets also known as non- current asset or as property, plant and equipment, this is the term used in accounting for the assets and the property which it will cannot be easily converted into cash. And it includes here the tangible or non-tangible assets.

The Cash Management or Treasury Management is the cash inflow and cash outflow in the bank. It is the certain services offered in primarily to larger business customers. It will be used to describe all bank accounts( such as the checking accounts) that provided in to business in a certain size, but it is more often called to used to describe the specific services such as the cash concentration, the zero balance accounting. It usually used the checks deposit slip to deposit the cash in the bank. The outflow of cash is measured by the money you pay every month to salaries, suppliers, and creditors. The inflows are the cash you receive from customers, lenders, and investors. 

Posted By: Sarah Jean Icoy