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Keystone Economic Supervision

Managing a business implies managing its money, no matter of your job subject. Your ability to help to make smart decisions about jobs relies on knowing about it regarding timelines and cash-flow measurements to track cash movement and payments, the benefit of securities and purchases, and how to decide overall cost effectiveness. To be able to do this, you want a good working information of a number regarding financial concepts.

Financial Management

An introduction to advanced concepts and methods of financial management. Topics include risk and return, asset evaluation, capital budgeting, capital structure, business financial planning and working capital management. An introduction to accounting emphasizing how general purpose financial statements communicate information about the business corporation’s performance and position for users external to management. The balance of the course examines major elements of the statements such as cash, receivables, inventory, long-lived assets, depreciation, payroll, bonds, and other liabilities and stocks. Financial management software provides businesses with a full suite of accounting functions to track daily financial operations and generate quarterly and annual financial statements. In addition, it provides tools for reporting, analysis, budgeting, and planning. This tutorial covers the main elements of grants financial management and administration for CNCS-grant recipients.

The Association for Financial Professionals confers the Certified Treasury Professional credential to those who have at least 2 years of relevant experience or 1 year of experience and a graduate degree in business, finance, or a related field. Treasurers and finance officers direct an organization’s budgets to meet its financial goals. They oversee investments and other plans to raise capital, such as issuing stocks or bonds, to support their organization’s growth. Topics include international financial markets, exchange rates, interest rates and inflation, exchange rate risk management, working capital management, capital budgeting, country risk analysis, long-term financing, and global strategic planning.

Topics include federal and CNCS regulations, written policies and procedures, internal controls, financial management systems, managing cash, budget controls, documentation, time and activity reporting, matching requirements, and financial reporting. Grant recipients are encouraged to enhance their financial management skills in this user-friendly, online environment by accessing regulatory and procedural content related to their particular grant program. Updates to the course material are currently underway and will be completed by summer 2020. Strategic financial management encompasses all of the above plus continuous evaluating, planning, and adjusting to keep the company focused and on track toward long-term goals. When a company is managing strategically, it deals with short-term issues on an ad hoc basis in ways that do not derail its long-term vision. Strategic financial management includes assessing and managing a company’s capital structure, the mix of debt and equity finance employed, to ensure a company’s long-term solvency.

Financial planning works from the strategic and business plans to identify what financial resources are needed to obtain and develop the resources to achieve the goals in the two types of plans. Typically, financial planning results in very relevant and realistic budgets — budgets are addressed later on in this topic. So be sure to consider business planning for each of your products and services. A business owner and his management team require timely and accurate reports in order to make decisions and run the company effectively. The staff members responsible for financial management must determine the key pieces of information the owner and his team need for decision making. They then design reports to provide this information in a format that is most useful to the management team. The financial management aspect of planning involves accurately forecasting the company’s revenues, expenses and resulting net profit.

The business owner uses the forecast – sometimes called a budget – as a tool to manage the company. Significant negative variances to forecast indicate that the business environment and his company’s performance in the marketplace were not what he assumed they would be when he created his annual plan. Analyzing these variances focuses his attention on changes he needs to make to his strategies or operations to get the company back on course to reaching its goals. The Financial Management major is specifically designed to prepare students for careers in corporate money management and investment. The curriculum is closely tied to professional financial services practice.

Upon finalization of the financial supervision program, you will have a solid foundation in finance that will serve you throughout your career. Speaking and understanding the language of finance are essential skills for leaders and managers throughout an organization; smart business decisions rest on this fundamental knowledge. Without a clear understanding of financial analysis and management, you lack credibility with finance managers and business leaders. The CFA Institute confers the Chartered Financial Analyst certification to investment professionals who have at least a bachelor’s degree or 4 years of work experience, or a combination of experience and education, and who pass three exams.