FINANCIAL CONTROLS FOR BUSINESS

  • An organisation operates with financial resources from its owners, shareholders as well as funds from banks and trade creditors. These resources are used by the management and staff in different departments for different activities. The outcome of the use of these resources must be beneficial to the customers, suppliers, employees and the shareholders of the organisation. Some of the owners or shareholders are not involved in the daily business operations and so they need an assurance that resources are use in a rightful way.
  • As part of the assurance, there is a system of accountability with a check-and-balance process. The process is to assure the bankers and owners of the organisation that financial resources are not misused. Business people and professional managers call this a system of financial controls.
  • This programme provides a practical knowledge base and approach to the learner to implement a proper accountability process in the organisation.