THE IMPORTANCE OF EFFECTIVE FINANCIAL MANAGEMENT TO THE OVERALL SUCCESS OF AN ORGANIZATION
- Project Research
- 1-5 Chapters
- Quantitative
- Simple Percentage
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
BACKGROUND OF THE STUDY
Planning one's finances requires making efficient use of one's resources (Kotze et al, 2021). Nearly all endeavors necessitate the application of financial resources. Since financing is required for the purchase of most things, there must be some form of financial management. It is impossible to amass financial resources and then employ them in any way (Nwonye, 2021).
First and foremost, financial planning entails anticipating the importance of financing, operating, and financial policies on the organization's future position and putting in place the appropriate measures that may be required (Kunene, 2021). The decision pertaining to the financial planning centers on the nature, extent, and make-up of the capital funds. It is a description of the management of capital resources, which includes the decision regarding the ratio of debt to equity (Kotze et al, 2021).
In the same way that fuel is essential to the operation of a motor vehicle or other type of running machine, financial planning is essential to the management of any corporation. Regardless of the structure, ownership, or size of the financial department of the company, there is a need to ensure that all aspects of financial planning and control in an organization are carried out to the highest possible degree of effectiveness. In doing so, it is possible to become more versatile and increase one's proficiency in financial matters (Kunene, 2021).
When it comes to the planning and making of financial decisions for the corporate firm, the financial management plays a very important role. The individual who is in charge of the company's finances and who holds the position of financial manager is accountable for those responsibilities (Nwonye, 2021). It is due in large part to the contribution that he or she makes to the company's ability to realize its corporate objectives, which includes shaping the corporation's financial future.
1.2 STATEMENT OF PROBLEMS
We are living in the days of economic fluctuation and recession, in variably inflation has become paramount and the order of the day in so many economics. Banks are folding up, while those in operations are within the time (Kotze et al, 2021). There are clashes in the global stock market, most investors have incurred financial losses, banking merger and acquisition is not yielding much fruit as expected the prospective investors are afraid to invest, the investment trend is not stable, the financial experts failing in their professional duties in the economic crunch is harder (Kunene, 2021).
Related Project Materials
INFORMATION TECHNOLOGY AND SERVICES DELIVERY IN NIGERIA
ABSTRACT:- The aim of this study was to examine the role of IT in service delivery at the Tertiary hospitals in Rivers State....
EFFECTS OF LITERATURE CIRCLES AND SCAFFOLDING INSTRUCTIONAL STRATEGIES ON SENIOR SECONDARY SCHOOL STUDENTS’ ACHIEVEMENT AND ATTITUDE TO PROSE LITERATURE IN ENGLISH
ABSTRACT
Literature indicates that students‘ poor command of English language, unwillingness to engage in reading tasks and lack of...
AN ANALYSIS OF DELAY IN ENFORCEMENT OF CONTRACTUAL JUDGMENTS AS IMPEDIMENT TO FOREIGN DIRECT INVESTMENTS (FDI) IN NIGERIA
ABSTRACT
Foreign Direct Investment (FDI) is about economic prosperity and wealth creation of developing economies, (FDI) brings with it c...
ANTIBACTERIAL ACTIVITY OF THE LEAF EXTRACTS OF ALCHORNEA CORDIFOLIA (Euphorbiaceae) AGAINST ISOLATES FROM PATIENTS WITH RESPIRATORY TRACT INFECTION IN UNIVERSITY TEACHING HOSPITAL
ABTRACT
Many bacterial species have been reported to develop resistance to antibiotics commonly prescribed for respiratory tract infectio...
A REVIEW OF CHALLENGES FACING MEDIA IN DISSEMINATION OF INFORMATION (A CASE STUDY OF NIGERIA TELEVISION AUTHORITY)
BACKGROUND OF THE STUDY
The art of communication as we know it now has evolved over many generations. Humans have...
COMPARATIVE STUDY OF STUDENTS’ ACADEMIC ACHIEVEMENT IN SOCIAL STUDIES IN PUBLIC AND PRIVATE JUNIOR SECONDARY SCHOOLS IN KANO STATE, NIGERIA.
ABSTRACT
The study examined the academic achievement of students in social studies in public and private junior secondary schools in Kano...
IMPROVING URBAN RESIDENTS AWARENESS OF THE IMPACT OF HOUSEHOLD ACTIVITIES ON CLIMATE CHANGE
ABSTRACT
This study was carried out to examine improving urban residents awareness of the impact of hou...
THE EFFECT OF CLASS SIZE AND OVER POPOLATION ON THE ACADEMIC PERFORMANCE OF SECONDARY SCHOOL STUDENTS
ABSTRACT
This research was performed to examine the influence of class room size on academic performance of secondary sc...
THE INVESTIGATION OF SPECIAL LANGUAGE NEEDS ANALYSIS OF WORKPLACE
Abstract
This study examined an investigation of special language needs analysis of workplaces in Lagos State. &nbs...
THE IMPACT OF ECONOMIC DEVELOPMENT AND GLOBALIZATION IN NIGERIA: A PHILOSOPHICAL ANALYSIS
INTRODUCTION
The process through which the economies of the world are being brought into modern interdependence is refer...
