Financial Management: Decision Making and Principles Report

This report delves into the core aspects of financial management, encompassing organizational activities such as planning, monitoring, and controlling. It explores various decision-making approaches, including autocratic, participatory, democratic, and consensus-based models, and their impact on organizations like Imperial Brands. The report analyzes formal and informal approaches, critically evaluating their use and impact on decision-making processes. Key financial management principles, such as managing financial resources and minimizing expenses, are identified and evaluated. The role of management accountants and the significance of accounting control systems are also examined, emphasizing their importance in maintaining ethical financial practices and ensuring long-term financial sustainability. The report concludes by highlighting the essential nature of financial management in building strategies, enhancing performance, and improving overall productivity.