FINANCIAL CONTROL OF FUNCTIONAL ACTIVITIES OF THE ORGANISATION

1
This is to certify that this piece of work entitled “FINANCIAL CONTROL OF
FUNCTIONAL ACTIVITIES OF THE ORGANISATION” is the original
work of IUGET BONAMOUSSADI AFM GROUP B, submitted as
assignment in partial fulfilment of success in ADVANCED FINANCIAL
MANAGEMENT is now ready for approval.
Signature: _______________________ Date: _________________________
Dr FOMINYAM JONATHAN
(COURSE FACILITATOR)
CERTIFICATION

2
To our lecturer DR FOMINYAM JONATHAN
DEDICATION

3
Before presenting this work we will like to show and express gratitude and
thank some people for their physical, mental and financial support and guidance.
Firstly, we want to express our heartfelt gratitude to DR FOMINYAM
JONATHAN our lecturer, who despite his busy scheduled took out time to
guide and assist us in making this work what it is.
Special thanks to our research methodology lecturer, Mr NJIMANTED
GODFREY for the knowledge he gave us to frame this work.
Finally, thanks to all GROUP B members who contributed in making this work
realistic and successful.
ACKNOWLEDGEMENT

4
Financial control is an important elements in the company. Many businesses fall
nowadays because of the poor control of finances which led to either insolvency
or even bankruptcy making financial control challenging to many managers. If
the financial control is effective, the company will grow effective in the future.
Financial control is also one of the tools used to control performance of the
organization. This study aims at assessing the effect of financial performance on
the performance of the organisation. The specific objectives of this study were
to assess the role of financial control of functional activities in the performance
of an organisation, to explore the challenges faced by the organisation in their
financial control of functional activities, to propose possible solutions to
challenges and recommendations to be made to the organisation. In order to
achieve these objectives the work was divided into several groups who made
research separately and then came together to form this piece of work.
Secondary research was used to collect data. Hence, the conclusion that
financial control has effect on the financial performance of an organisation.
Key Words: Financial Control, Functional Activities
ABSTRACT

5
CERTIFICATION.................................................................................................1
DEDICATION......................................................................................................2
ACKNOWLEDGEMENT.....................................................................................3
...............................................................................................................................3
ABSTRACT..........................................................................................................4
TABLE OF CONTENT........................................................................................5
PART ONE............................................................................................................7
GENERAL INTRODUCTION.............................................................................7
1.1 INTRODUCTION....................................................................................7
1.2 Problem Statement.......................................................................................8
1.3. Objectives of the Study...............................................................................8
1.4 Research Questions......................................................................................9
1.5 Hypotheses...................................................................................................9
1.6 Organisational layout of the study.............................................................10
PART TWO.........................................................................................................11
FINANCIAL CONTROL OF FUNCTIONAL ACTIVITIES OF THE
ORGANISATION...............................................................................................11
2.1 Identification of functional areas in an organization.................................11
2.2 PURPOSE OF FINANCIAL CONTROL.................................................13
2.3 IMPORTANCE OF FINANCE CONTROL.............................................14
2.4 Types of Financial Control........................................................................16
2.5.1 Problems of financial control.................................................................17
2.5.2 Proposed solution to financial control problems....................................21
2.6 Processes involved in financial control in an organization.......................21
2.7 RELATED DOCUMENTS.......................................................................23
PART THREE.....................................................................................................24
GENERAL CONCLUSION................................................................................24
TABLE OF CONTENT

6
3.1 SUMMARY OF FINDINGS.....................................................................24
3.2 PROBLEMS ENCOUNTERED................................................................24
3.3 CONCLUSION.........................................................................................25