Activity of Financial management Samples †MyAssignmenthelp.com

Question: How Financial Management Fits Larger Managerial Framework? Answer: Overview Financial management is the most important activity for any organisation. The firms financial resources are concerned with planning, procuring and controlling. Integrated knowledge about business growth and plan Business growth comes in many structures and should be precisely arranged and custom-made to the concerned business. Business growth can mean numerous things including sales development, showcase extension and business value growth. This course had provided me learning of use of appropriate channels to advertise (the ways you get items to your clients) regarding key concentration of sales and business growth. Business Plan is essential guide to success and with this coursework I will be able to develop roadmap. Learning provided in this course assisted me in developing strategy for success to guide for the selected market. Effectiveness and understanding of managerial finance Business growth and survival is fully depended on effective financial-management. Business objectives can be achieved by monitoring financial resources which involves planning, organizing and controlling. Effective use of resources can be done if there is a good financial management, fulfilment of commitments, can gain competitive advantage and can prepare for long-term financial stability.Managerial finance will assist me in developing better business plans to ensure its clarity and feasibility. Further it will assist me in monitoring financial position. In addition to this; I will be able to keep accounting records up to date supported by tax and legal compliances. Ethical practice for financial management Ethics are principles in light of creating the best choice. An individual or business works with the help of these principles. I hold fast to and advocate the following standards and obligations governing my expert and moral conduct. To the best of my knowledge and capacity I will operate with trustworthiness and integrity. Further; strategic distance will be maintained to prevent genuine conflicts of concern among individual and practiced connections. The data I provide or consider will be viable, finished, and reliable and justified as per the concerned objective. Standards and directions are agreed by me of elected, state, universal, district and national governments, and other suitable private laws and codes. Effect positive social change within the organization Although, the fact that changes might be an inevitable piece of working together, it isn't generally embraced with open arms by representatives, chiefs or entrepreneurs. Changes in business can enable it to remain updated with industry patterns, which make the clients, attract towards and help in maintaining current clients. The ability of making changes in an organisation helps workers to get new opportunities. The effectiveness in work comes with changes, which can make for employees and more fulfilled clients. Worker mentalities and resolve are affected by positive philosophical changes in an organisation. Action Plan My goal is to attain the knowledge about the share markets and financial market. I have chosen this goal as in future I want to work infinance related job. So for that I should have complete knowledge about the financial market but I have not applied the same in a practice scenario. The goal is important for me as I lack the knowledge in this field and further my career depends on this. This knowledge will help me in understanding the share market as I would like to do job as a stock trader or broker in future. The work of stock trader is to advice and help people to deal in share market in different shares so I have to aware with the recent trends related to my business. For that I should have full knowledge about this field and in future I will apply it in my career field. This will help me to develop me professionally as well as personally. Another reason to choose this goal is that, nowadays a lot of scandals and malfunctioning are taking place in share market. If I will have proper knowledge about the market and leading misconducts, it will help me to stop future scandals to some extent. This will bring a positive change in the society. For this various resources are available from which I can gain knowledge, like from newspaper, attending seminars or by investing in shares itself. The two objectives for achieving goal are:- To gain practical knowledge by practically working in the market Develop my knowledge regarding shares and help in enhancing my career Both of these objectives are the grounds on which I will be able to attain my goal. Goal Objectives Target Proficiency Development Opportunities Timelines To gain complete knowledge about share and financial markets. To gain practical knowledge by practically working in the market Develop my knowledge regarding shares and help in enhancing my career Practical knowledge to implication of finance. To attend seminars related to financial market awareness and share market. To gain knowledge from newspapers and media or by investing in shares. Approximately 3-4 months Social Change Impact Liquidity could be attractive to financial specialists since it will be less demanding for a speculator to get his or her cash from the investment however, I leaned such lesson from the course and it will help me to take wise decisions for financial management. Including this, I learned how to calculate financial ratios for a company that I can apply to any business or a real entity to know about its financial feasibility (Fridson and Alvarez, 2011). Adding to this, I have learnt howfinance is an important part of any organization, particularly one looking for speculators. For example: in the monetary world, movement demonstrates how an organization is dealing with its benefits. I can specifically say that I know I can make best use of financial analysis, in respect to particular business and can contribute to a change. I can further analysis achievements, funds and patterns and can identify and misconducts held in financial part of business. During the course, I was aware that funds can be produced from abroad via two conspicuous sources of capital like as Foreign Direct Investment (FDI) and Foreign Institutional Investors (FII). This information will help me in future when I will start my own business, as I will consider various sources, where from I can get money. Proper investigation of usage of obtained funds is the activity of a money related trough I can manage finance more accurately. While working in a firm can take care of things as the financial knowledge gained from this course has helped me to know how I can manage my personal as well as corporate finance (Zeichnerand Liston, 2013). My knowledge of fund management will be helpful in assessing funds and contributing in the fund management of companies where I will probably work, in this manner I could bring social change. I can advise the firm or a person that regardless of whether their funds are ideally designated. To finish this task, I must rely upon financial knowledge that I have gained from the course, tactful and clever (Moon, 2013). I furthermore should understand the requests and necessity of the individual or the firm and should come up with some deliberately excused plan with the goal that the last one can appreciate ideally and all this I have learned through course that is helpful in bringing social change. References Fridson, M.S., Alvarez, F., (2011).Financial statement analysis: a practitioners guide. John Wiley amp; Sons. Moon, J.A., (2013).Reflection in learning and professional development: Theory and practice.Routledge. Zeichner, K.M., Liston, D.P., (2013).Reflective teaching: An introduction. Routledge.