StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Managing Financial Resources - Essay Example

Cite this document
Summary
The paper "Managing Financial Resources" is a perfect example of an essay on management. Managing the financial resources of a company is a very important function that must be administered well by the managerial staff of the firm. The most important financial resource that must be tightly controlled is the cash account of the organization. Without cash, a company will seize to exist…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER92.1% of users find it useful

Extract of sample "Managing Financial Resources"

The paper "Managing Financial Resources" is a perfect example of an essay on management. Managing the financial resources of a company is a very important function that must be administered well by the managerial staff of the firm. The most important financial resource that must be tightly controlled is the cash account of the organization. Without cash, a company will seize to exist. The movement of cash in a company is depicted in the statement of cash flow of a firm. The statement of cash flow divides the movement of cash into three activities which are operating, financing, and investment activities. The assets of the company are a resource that also must be administered well. A ratio that tells a manager whether the organization is using its assets well is the return on assets (ROA) metric. Return on assets measures how effective a company has been at generating profit from its assets (Garrison & Noreen). 

It is important to form managers to establish control mechanisms to protect the financial resources of a company. A way to monitor the use of financial resources is by doing recurrent internal audits of the resources of the enterprise. I agree that managing the financial resources of a company is a very important function. When companies do not protect their financial resources it could lead to bad economic outcomes. Take for example the case of the Enron corporation. This company filed the largest bankruptcy in the history of the United States at the time because the managerial team did an extremely poor job of protecting its financial resources. Instead, the executives robbed Enron of millions of dollars in bonuses by cooking up the books. The success of a business highly depends on the ability of the company to manage its financial resources well.  Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Managing Financial Resources Essay Example | Topics and Well Written Essays - 250 words, n.d.)
Managing Financial Resources Essay Example | Topics and Well Written Essays - 250 words. https://studentshare.org/management/1886329-managing-financial-resources
(Managing Financial Resources Essay Example | Topics and Well Written Essays - 250 Words)
Managing Financial Resources Essay Example | Topics and Well Written Essays - 250 Words. https://studentshare.org/management/1886329-managing-financial-resources.
“Managing Financial Resources Essay Example | Topics and Well Written Essays - 250 Words”. https://studentshare.org/management/1886329-managing-financial-resources.
  • Cited: 0 times

CHECK THESE SAMPLES OF Managing Financial Resources

Factors to Consider during Employee Selection

Aims/ Objectives of the project The objectives of the project include Enhance fire safety awareness among school going children Reduce the number incidences in Southampton Improving the general community safety Expanding our community out reach program Managing resources effectivelyStaff Recruitment The execution of the project requires two full time staff who can act as community safety practitioner....
10 Pages (2500 words) Assignment

Principles of Finance Used in Decision-Making Process at Working Computers

nbsp;The company published its audited financial report annually as a legal requirement for all limited companies quoted in the Stock Exchange (Bailey and McIntyre, 2005).... The company published its audited financial report annually as a legal requirement for all limited companies quoted in the Stock Exchange (Bailey and McIntyre, 2005).... The finance managers make strategic decisions based on the financial information collected from the financial statements to demystify and clarify for non-financial stakeholders or executives the basics of financial analysis....
8 Pages (2000 words) Assignment

Financial Management for Decision Makers

… The paper entitled 'financial Management for Decision Makers' is a great example of a Finance and Accounting Assignment.... financial analysis of M2 Telecommunication Company involves the valuation of its shares using returns on their investment and the rate of return which is determined by all the investors.... The paper entitled 'financial Management for Decision Makers' is a great example of a Finance and Accounting Assignment.... financial analysis of M2 Telecommunication Company involves the valuation of its shares using returns on their investment and the rate of return which is determined by all the investors....
5 Pages (1250 words) Assignment

Managing Financial Resources and Decisions - Life Mimetics Company

… The paper "Managing Financial Resources and Decisions - Life Mimetics Company " is a perfect example of a finance and accounting case study.... The paper "Managing Financial Resources and Decisions - Life Mimetics Company " is a perfect example of a finance and accounting case study.... In financial terms, opportunity costs are the best choices that should be chosen in order to utilize the limited resources effectively.... Finance and Opportunity Costs From the Life Mimetic balance sheet as of 31st December, the financial statement reveals that there are payables that are constituting a large proportion of the financial costs....
4 Pages (1000 words) Case Study

The Performance Measurement of Morrison Supermarket Implementing Balanced Scorecard

The examination of performance measurement of Morrison Company is done on four key areas such as financial orientation, financial constrained but on improvement basis, balanced and rotational basis.... The result of this analysis is gained by the use of financial statements which is able to provide performance indicators and strategies used (Bailey and McIntyre, 2005).... It uses both the financial information and the business operations to produce more accurate performance evaluation....
10 Pages (2500 words)

Management of Coffeeville Pty Ltd

This will entail the planning and implementation of the approaches in financial management, scrutinizing and directing finances, supporting the team members whose roles include features of operating financial resources, and the review and evaluation of the effectiveness of the processes of Managing Financial Resources corresponding with the financial objective of both the workgroup and the company (Khan and Jain, 2007).... In this report, you will find a concise description of the results of performance, the skills and know-how required to go about the management of financial resources within teamwork in Coffeeville....
12 Pages (3000 words) Case Study

Business Planning as Essential Element of Any Business

For any business to succeed and gain a competitive advantage, it must have a good business plan which will help it to work towards achieving the goals by allocating various activities and resources effectively (Finch 2005).... Business planning also enables businesses to allocate various resources effectively by following the breakdown as indicated in the business plan.... The components of a business plan include the mission statement, company description, market analysis, management team, the plan for marketing, analyzing the company's SWOT, financial statement, and the summery....
7 Pages (1750 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us