Managing Financial Resources

MANAGING FINANCIAL
RESOURCES

INTRODUCTION
To manage financial resources in an organisation, it is essentially
required that professionals must consider several terms which bring proper
control over financial resources. There is need to consider the availability of
resources such as material, funds, labour and hours which are required to be
managed in a cost efficient manner. Main motive of accounting professionals is
to manage the funds and expenses of organisation.

MANAGEMENT OF FINANCIAL
SHORTFALLS
To manage financial shortfalls in an organisation, there are various techniques
which will be best funnelling tactic for accounting professionals such as:
Priorities: The main priorities of a corporation is to make payments of necessary
activities such as staff salaries, purchasing material, inventory management, fuel
expenses, repairs and maintenance, etc. It ensures that the business must invest
initial amount over required activities.