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Introduction To Financial Management and Accounting
Let’s Begin by splitting these terms into two in other for you to properly understand these concepts.
What is Financial Management?
Financial management is a term
used to describe the status of management, finances and economic resources of
an organization. It entails managing the organization’s economic activities efficiently
to maximize results and also achieve financial objectives. Financial management
aids management in better decision-making. It is important to note that the key
objective of financial management in an organization is mainly to create wealth
for the business itself, its investors, provide a good source of funding and fetch
more profit at adequate risk by using the organization's resources efficiently.
What is Accounting?
This concept specifically deals with the measurement, processing, and documentation of financial transactions of an organization. Accounting constitutes the summary and complete analysis of data to be reported to the management, shareholders, investors tax officials etc. The primary objective is reporting the financial information or transactions using Generally Accepted Accounting Principles.
Comparison Between Financial management and Accounting
The key difference between
financial management and Accounting has it that Financial management deals with
the management in terms of finance and even investments for individuals,
entities, and organization while on the other hand Accounting is the process of
recording, maintaining, and reporting the company’s financial affairs, which
shows the company’s clear financial position, using generally accepted
accounting principles. The importance of using generally accepted principles cannot
be over emphasized.
This is the reason why at Maximedge, we are delighted to give you that professional training you stand in need of and also to get you certified, determined and ready to accomplish the task ahead. Our courses are educating, inspiring and designed to also empower the society.
Our Financial Management & Accounting Courses Includes:
- Ø Auditing Financial Statements
- Ø Internal Control, Compliance and Risk Management
- Ø Financial crimes and anti-money laundering strategies
- Ø Finance for Non-Financial Managers
- Ø International Tax Aspects of Mergers, Acquisitions and Corporate Finance
- Ø Comprehensive Basic Accounting Training
- Ø Financial Management
- Ø Audit and Internal Control
- Ø Business Analysis with Excel
- Ø Public Sector Financial Management
- Ø Risk Based Approach to Financial Auditing
- Ø Budget Planning & Forecasting
- Ø Credit Control and Debt Management
- Ø Cash Flow Management & Working Capital Optimization
- Ø Treasury Management
- Ø Investment Fund Operations
- Ø Pension Funds Management
- Ø Project Cost Control
- Ø Cost Reduction & Management Guides
- Ø Construction Economics
- Ø Strategic Planning, Effective Budgeting & Cost Control
- Ø Spreadsheet Skills for Finance Personnel
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