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
ANALYSIS OF THE LEGAL FRAMEWORK FOR THE REGULATION OF TOURISM AND HOSPITALITY INDUSTRY IN NIGERIA
ABSTRACT
Nigeria like other micro economies heavily dependent on petroleum, and sometimes Agriculture had to explore alternatives to grow...
INFLUENCE OF EARLY CHILDHOOD EDUCATION ON MINDFULNESS
ABSTRACT: The influence of early childhood education on mindfulness is ess...
THE DESIGN AND CONSTRUCTION OF A MICROCONTROLLER BASED DOT MATRIX ADVERT DISPLAY
Micro controller programmable Dot matrix information display system, is a system electronically designed and constructed, that is used to display d...
ASSESSMENT OF THE ROLE OF MICRO-FINANCE BANKS IN BUSINESS DEVELOPMENT IN ADAMAWA STATE
Background of the Study
With all the measures implemented to encourage new business, help existing businesses grow and to ultimately impr...
INFLUENCE OF SOCIO ECONOMIC BACKGROUND ON SECONDARY SCHOOL STUDENT PERCEPTION OF THEIR SCHOOL LEARNING ENVIRONMENT IN CALABAR MUNICIPALITY, CROSS RIVER STATE
Background to the study
Socio-economic background or status refers to a person’s position in a given group, societ...
THE ROLE OF VOCATIONAL EDUCATION IN SUPPORTING SUSTAINABLE AGRICULTURAL INNOVATIONS
ABSTRACT: The role of vocational education in supporting sustainable agricultural innovations is crucial for advancing environmentally-friendl...
THE INFLUENCE OF BUDGETARY CONTROL ON ORGANIZATIONAL EFFICIENCY
THE INFLUENCE OF BUDGETARY CONTROL ON ORGANIZATIONAL EFFICIENCY
This study aims to: (1) explore the impact of budgetary control systems o...
EFFECT OF TEACHERS’ PROFESSIONALISM ON STUDENTS’ ACADEMIC PERFORMANCE IN ENGLISH
Background of the Study
Education is a continuous process in human life. It is the process of training,...
THE IMPACT OF GLOBALIZATION ON THE INDUSTRIAL GROWTH OF NIGERIA (1980 - 2010)
ABSTRACT
This study is meant to investigate the impact of globalization on the Industrial Growth of Nigeria covering the range of 31years...
ASSESSING THE PERFORMANCE OF THE SENATE COMMITTEE ON NIGER DELTA DURING 7TH AND 8TH NATIONAL ASSEMBLY
Background to the study
The legislature is considered one of the most basic structures in any political system. Hence, A...
