Financial Management System
There are a wide range of activities that can be considered as financial activities. Many organisations, particularly large ones, have considerable numbers of daily transactions. The jobs of a bookkeeper, financial management system sales representative, clerical worker, and other personnel involved in record keeping can fall into one of three categories. The characteristics of each activity are designed to reflect the nature of the organisation's financial management system . All corporate management systems , whether financial , operational, or personnel oriented, feature some aspect of the role of financial management . But, it is generally accepted that a well-designed corporate financial management system saves money, reduces risk, and assures long-term financial management system viability. In fact, corporations would lose millions of dollars every year to financial mismanagement. The most common phases of a financial management system are: - Design and development - Impl...