Relationship of Financial Management to Other Organizational Services

The financial management of a company is the very core of business as it brings the past, present, and future together. Organizations that are poorly managed in the financial area impact every other department from marketing to credit and collections. All eyes in the company must turn to the numbers at some point and all financial managers must develop the ability to communicate essential financial information in a way that makes it useful for decision making.

The financial dynamics of an organization can be complex and impact every function of a business. Marketing can only build a campaign based on an allotted budget. Managers can only give salary increases to staff if the company is earning enough profit. Obtaining organizational credit relies on sound financial performance. Adequately outfitting a business with appropriate levels of management, staff, and operating resources relies on the company being financially successful.

Presenting…the Finances!

When you think about presentation skills, it’s normal to first look to the sales department meeting with customers or the call center taking client calls or even debt collectors contacting clients. But financial management also requires developing presentation skills because financial managers must be able to present relevant information that leads to sound decision making.

In fact, financial managers require business training on many levels in order to be effective integrators within the organization.

* Develop, interpret, and manage critical data
* Identify relevant financial information which assists departmental managers with decision making related to staffing and other resource management
* Identify areas where financial performance can be improved such as through increased debt collections
* Identify financially high risk areas within organization
* Manage assets within company that leads to product or service improvements
* Manage accounts to produce increased sales and collections
* Develop cost savings measures
* Identify financial resources available which enable organization to pursue strategies supporting mission

Personnel working within the financial management areas are employed in a variety of positions ranging from executive officers to front line managers. The interesting aspect of financial management is that it can be position which focuses solely on financial issues or it can be a job function included in a larger job structure.

For example, an accountant working in the finance department may only work with financial data and reports. A debt collection department manager may use financial management skills to monitor results but also manages staff, communicates with customers, and serves as the contact point between his or her department and other organizational functions.

Organizationally Pervasive

For that reason, it is important to determine all organizational positions which can benefit from financial management training. It is an essential function that is pervasive. Managers can use the skills to look back to see what has been successful and unsuccessful; to the present to determine if current strategies are successful; and to the future to establish long term financial goals.

Good financial management is essential for quality customer service, strategic planning, credit management, and marketing success. Financial management provides a barometer for competitive status and customer satisfaction.

Financial Management for Married Female Entrepreneurs: A Little Known Secret To Improve Net Worth

As women, especially as married female entrepreneurs, we often struggle with making money because we believe that we can’t increase our income or manage our money very effectively. And if we’re currently carrying debt we tend to think that we’re doomed to be in debt for the rest of our lives, because we don’t feel competent about getting out of debt.

If you have been struggling with debt for a while, it’s likely you hold the belief that you are powerless to change your situation. As a result you feel negative about yourself. You start to feel incompetent. And then you begin to feel stuck, bitter and resentful. This has an impact in other areas of your life because you don’t feel motivated about building your business or hopeful about career options.

Money issues are often a reflection of self-esteem and self-worth.

“If you look closely, you will discover that you don’t necessarily get what you deserve in life but instead you get no more and no less than what you actually believe you deserve. Only to the degree that you appreciate your innate human worthiness will your subconscious mind open up to life’s bounty. Success involves talent, effort and creativity, but first of all it requires a willingness to receive.” Those words were written and shared by Dan Millman in Everyday Enlightenment.

An exercise that you can do is to imagine that you are walking up to the ocean. Pretend that the ocean represents everything that is available to you; prosperity, abundance and having more money. As you walk towards the ocean imagine that you are bringing a container with you to collect all the prosperity and abundance that is available to you. Now look down and notice the size of container you are carrying with you to receive this prosperity. Are you carrying a thimble or are you bringing with you a huge bucket? How large is your container?

Ram Das shared in one of his lectures, ” The rain may pour down from the heavens but if you only hold up a thimble, a thimble full is all you will receive.”

You can tell the size of the container that you are holding by your internal beliefs and actions. As you experience increased self-worth around money you will begin to charge more for your services and if you are carrying debt you will begin to take the actions steps you need to get out of debt. And finally you will no longer accept any excuse as being a reason why you can’t build wealth – because building wealth is your divine birthright.

Wallets, Your Personal Financial Manager

Wallets, one of our most important accessories

Undermining the importance of certain things is not a very wise thing to do, especially when it comes to things like wallets. Stepping out of the house or travelling without a wallet in our pocket can make us highly vulnerable and susceptible to losing money. Tiny in size but extremely useful in terms of functionality, the wallet is anything but a nondescript accessory. It is in fact one of the most unassuming and yet important, indispensable accessories that we carry with us everyday. It comes with multiple features and a host of advantages, and is perhaps one of the best things to have happened to man as far as financial technology is concerned.

The wallet is our personal financial manager and one of the safest ways of keeping as well as carrying currency notes when on the move. It is splendidly versatile and goes a long way in securely storing our credit cards, debit cards, ID cards, coupons, receipts, keys, coins, passport size photos and more. And it does not end there. The quintessential accessory helps us have an overview of all our finances in one clutter free place and make full use of it when we require it the most. It keeps our monetary affairs pretty much simple, organised and private, and in a way goes on to becoming an extension of our personality.

So when it is about wallets, never compromise or take things for granted. Always opt for the one that has relevance in design, is crafted of the finest material and boasts of durability and a good make. The wrong shape can spoil the fit of your trouser or make it pop out of the pocket and what is worse, a fragile, low quality wallet can come apart at the slightest of tug, leaving the contents all over the place and leave you behaggled.

Shop the cost effective way; buy wallets online

With several accessory brands sprouting like mushrooms and online shopping portals multiplying with every passing day, it is not only a good but a great, cost effective idea to buy wallets online. It negates the obligation of storming the brick and mortar retail outlets and spares you the trouble of hopping from one shop to another. Shop online and find local, international and designer wallets along with other unique accessories without dropping a bead of sweat. Get started without much ado.

Financial Management

Many people would expect starting a business to be very easy. With a product or service to sell and enough knowledge to market it properly, many people think that they are ready to go. Starting a business, however, takes more than just products or services and simple knowledge. It takes much more if you want to make your business grow.

At the very start of the business, owners or shareholders will instantly be faced with financial matters that require financial decisions. Questions such as what assets to invest in and where to get the cash needed for such investments would require financial know-how. And as the business venture thrives, shareholders have to manage daily finances and make long-term financial decisions. All of this definitely requires more than just a little knowledge in business. It requires knowledge in an entirely different area – the area of financial management.

Defined, financial management is the process of planning financial decisions with the ultimate goal of maximizing the stockholders’ wealth. In the world of finance, financial management is also known by other names like corporate finance, business finance, and managerial finance.

While the ultimate goal of financial management is clear “maximizing stockholder’s wealth,” the path leading to this ultimate goal is paved with other small goals. Goals like day-to-day profitability and properly managing daily finances are generally regarded as short-term goals, and achieving these goals belongs to the realm of short-term financial management. Aside from these, financial management also tackles other long-term goals, including business profitability and viability.

Achieving the goals of financial management, both long term and short term, involves a lot of processes and activities. These usually include cash management, financial risk management, financial accounting, managerial accounting, and others.

Now, these may sound like a multitude of tasks, especially for businessmen who are only managing small businesses. With the many financial management software products available, however, handling all of these tasks may become easier. Alternatively, businessmen may avail themselves of the services of a financial manager or seek the aid of companies providing financial management services.

Debt Consolidation Loan Calculator – Indispensable Tool For Financial Management

In the contemporary world and industries, there are imminent issues that are most prevalent especially in the current condition of the economy. Thousands of people experience its impact such as job losses, massive financial crisis and unpaid debts and loans. Debt consolidation loan calculator is one effective way of gearing yourself with the right information in combating and beating the financial dilemmas you encounter.

It is primarily important to educate yourself of the different options in-store for you to access and use. Before you use the debt consolidation loan calculator in order to measure and determine possible options to resolve the problem, you need to learn and understand what debt consolidation is all about. It is essential to know how it works and the benefits it has to offer in the resolution of your problem.

It includes a certain process which requires you to acquire another loan in order to pay off all the other unsecured loans you may have incurred in the past. It simply implies that you are taking one big loan to finally solve and compensate all your other outstanding debts. The main purpose of this resort is often to secure a much lower and easier to pay interest rate or to secure a much convenient to pay fixed interest rate. With the help of a debt consolidation loan calculator, you will be given the chance to determine if opting for this resolution makes financial sense or not. This type of solution is almost always advisable to those who are dealing with credit card debt payments.

This option is not a generic solution which is proven effective and helpful for everyone who uses it. You can actually determine if you are a viable candidate before plunging into it through using debt consolidation loan calculator specially designed for this salient purpose. There is a standard or custom tool made depending on its manufacturer which has common entries specifically known in calculating your financial status.

The common components you will see in this tool are the very elements that must be checked and carefully weighed so that you will know what you next financial or payment step will be. Hence, you basically need to understand some of the fundamental entries in your debt consolidation loan calculator.

Credit card debts are one of the basic things to consider and are found in this standard loan calculating tool. You can enter your debts incurred through your credit card along with its interest rate. Other related entries in this category are your credit card payment and balance

Other important components included in the debt consolidation loan calculator are the loan balance which is the estimated or exact amount of the total outstanding balance on your loan. You must also include the loan payment which you are currently paying in a monthly or regular basis.

In order to minimize the impact and eventually surpass these pressing issues, it is vital to use indispensable tools geared towards remedying your debt and loan predicaments. Debt consolidation loan calculator will surely make a great difference in effective financial management.