Financial management hierarchy incorporates all the finance management groups available in any industry. This is such a crucial management job that requires minimum of bachelors even for the lowest job title while for the higher level jobs, master’s degree is demanded by the companies The financial management hierarchy groups are described below in this article starting from the highest job title to the lowest one in the end.
Financial Director – The top most management position in the administrative financial management is of a financial director who is also referred to as the Chief Financial Officer, CFO.
Financial Consultant – These professionals are also termed as the financial advisors and are government authorized and licensed officials hired by a company to assist these companies in their beneficiary and profitable decisions relating to finance of the company. Financial Manager – This professional is basically the head of the finance department for a company and hence play a crucial part in managing as well as ensuring the company’s operating data and the professional standards of the firm is up to the requirement. Financial Trainee – The lowest level of the financial management hierarchy incorporates a financial trainee. One contemporaneous example where growth played a key role in the downfall of a company is the Hastie Group in Australia in 2012. As part of the module on the Role of Financial Management one issue you have looked at is the objectives of financial management.A  Growth is one of those objectives and it can be achieved in several ways.
HSC Business StudiesThis blog is dedicated to support students undertaking the New South Wales, BOS, Business Studies Course for 2013. Enter your email address to follow this blog and receive notifications of new posts by email. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. This case provides the opportunity to match financing alternatives with the needs of different companies. Wednesday and told George's secretary that he would cable his recommendations on Friday afternoon. Antonio, Strand Electronics has 950 employees and handles a volume of $85 million in sales annually.
Sage ERP Accpac Accounting and Financial Management software integrates your sales and service functions for streamlined, end-to-end financial management.
Sage Accpac ERP is a powerful set of tools to help you confidently streamline time-consuming accounting processes, manage your businessa€™ complex finances, and comply with regulations.
Automate your bank reconciliation process using Open Financial Exchange (OFX), a file format that lets you download bank data electronically.
Maintain all tax authorities and tax classes, and provide centralized tax reporting for Accounts Receivable, Accounts Payable, Order Entry, and Purchase Orders in one place.
Use custom macros to rearrange fields on entry forms to change how data is entered and processed, and to add business logic and rules to data entry.
Use Microsoft® Visual Basic for Applications for easy customization and interaction with other Windows-based applications. Automate recurring General Ledger, Accounts Receivable, and Accounts Payable transactions with scheduling and Reminder List capabilities. Set up schedules to remind you when recurring transactions become due and process them directly from the Reminder List. Automatically restart batch operations, such as importing or posting, when they are not completed successfully. Share user and security information among several company databases or create separate system databases to support different security needs.
The foundation of your accounting system with the flexibility to meet your current and future financial management requirements.
The General Ledger module is the foundation of your accounting system, with flexibility that meets the current and future financial management requirements of organizations of all types and sizes. Flag General Ledger accounts as inactive to stop using them, but retain them in the system for historical and reporting purposes. Set up and schedule recurring journal entries for transactions that are processed on a regular basis.
Automatically create budgets using prior year information or choose from seven other computation methods.
Produce fast, flexible, customized financial statements through full integration with MicrosoftA® Excel. Print consolidated statements or statements for any accounting division represented by an account number segment code.
Auto-reverse entries to eliminate manual accrual tracking and specify the period for the reversal. Included with the General Ledger module, Account Code Change provides a simple way to quickly and easily change, combine, or copy your important business data.
Set access rights for single or multi-segment validation or for single or multiple account validation. Add or remove user restrictions at any time in response to staffing changes, changes to your account structure, or as security concerns arise. Streamline cash flow processes, including rapid entry of vendor invoices, flexible cash disbursement, and full check reconciliation.
The Accounts Payable module provides robust accounting features to streamline your entire cash flow process and help you save money. Organize vendor records quickly and easily, and flag inactive records that are retained for historical reporting. Drill down from the vendor's transactions and payments in Vendor Activity to the originating transactions and payments. Drill down from General Ledger transaction history to Accounts Payable transactions and then to originating Purchase Orders transactions. Automatically distribute invoices to as many general ledger expense or asset accounts as you require by defining distribution sets. Set up and schedule recurring payables for invoices paid on a regular basis and automatically remind staff to process recurring payables.


Track, calculate, and automatically retain a portion of an invoice to handle common billing practices in the construction industry. View your vendor payments by bank range, vendor range, check status, transaction type, date range, year and period range, and check number range.
Generate and print system checks for current payables and forced transactions with or without payments advices. Change discount percentages or amounts as required and establish standard payment selection criteria for creating check batches. Print a journal of the entries posted in each posting run, listing key pieces of information for tracking each detail. Works with Accounts Payable, Inventory Control, Purchase Orders, Tax Services, Serialized Inventory, Lot Tracking, Project and Job Costing.
Track outstanding balances, apply cash to outstanding invoices, create recurring charges for quick invoicing of monthly charges, and complete bank reconciliation.
With the Accounts Receivable module, you can manage your customers and fine-tune customer relations by keeping track of important sales information and outstanding balances. Create summary or detailed invoices using the item price list and calculate taxes on a summary or line-by-line basis. Organize customer records quickly and easily, and create an unlimited number of ship-to locations for each customer. Flag customer records as inactive when you wish to discontinue regular use but want to retain the record in the system for historical and reporting purposes. Drill down from General Ledger transaction history to Accounts Receivable transactions and then to originating Order Entry transactions. Schedule any number of recurring charge invoices for fast invoicing of monthly charges, and update recurring charges automatically by amount or percentage. Create adjustment batches automatically to write off small account or transaction balances, and choose whether to charge interest on overdue balances or individual invoices.
Specify the debit and credit amounts for each detail entered in Adjustment Entry and for miscellaneous adjustments in Receipt Entry. Drill down from the customer's transactions and receipts in Customer Activity to the originating transactions and receipts. Print and review complete transaction details, including the details of receipts and adjustments applied to transactions, and keep a complete transaction history. View your customer receipts by bank range, customer range, receipt status, transaction type, date range, year and period range, and receipt number range. Review up-to-the-minute information including current balance, last activities and complete transaction details, and detailed statistics for each customer account.
Send statements and invoices to your customer's billing address, customer's e-mail address, or contact's e-mail address. Set up standard e-mail messages you can automatically send to your customers with their documents.
Print aged Trial Balance, Overdue Receivables, Customer Transactions, Customer List and Statistics, and General Ledger transaction reports using sorting and selection options to focus on desired transactions. Included with the Accounts Receivable module, the AR Inquiry module allows you to manage receivables with remarkable agility and intelligence and reinvest cash through your business faster with optimized collections. Concentrate your efforts on clients who fit specific criteria that you define and prioritize using the Customer Filter, such as days overdue, dollars over limit, call back date, and more. Gain a single point of reference for all of your customer details through Customer Inquiry, and address customer questions during live calls.
Find specific AR documents such as an AR Invoice, based on the document number alone with the AR Document Inquiry.
Included with Accounts Receivable module, Customer Number Change provides a simple way to quickly and easily change, combine, or copy your important business data. Works with Accounts Receivable, Inventory Control, Purchase Orders, Bank Services, Tax Services, Serialized Inventory, Lot Tracking, Sales Analysis, Project and Job Costing. The Multi-Currency module delivers powerful and comprehensive multi-currency accounting functions. The global market requires a highly functional software system to deal with multi-currency accounting exchanges and transactions.
Enter General Ledger and Accounts Payable transactions that affect more than one company by automatically distributing transactions across two or more companies. The Intercompany Transactions module lets you enter General Ledger and Accounts Payable transactions that affect more than one company by automatically distributing transactions across two or more companies.
Process intercompany General Ledger journal entries and intercompany Accounts Payable invoices, debit notes, and credit notes. Create an unlimited number of routes to define relationships between companies, including multilevel routes. Automatically make loan account entries for intercompany transactions and distribute invoices to as many General Ledger accounts as required by defining distribution sets. Fully integrate with Tax Services to handle tax computations for expensed, allocated, or recoverable taxes.
Enter transaction references and descriptions to provide a detailed audit trail for reconciliation purposes.
Print an intercompany loan account reconciliation report to identify loan accounts that do not agree.
The Transaction Analysis and Optional Field Creator module provides complete support for unlimited optional fields throughout all Sage Accpac applications. Transaction Analysis and Optional Field Creator allows you to define all the information you require for each General Ledger account, customer, vendor, item, transaction, and transaction detail, making it easy to record and track data from the originating transaction through to your General Ledger. Use Accounts Receivable to process single payments from a customer's head office and apply it to the subsidiary accounts. National Accounts Management lets you use Accounts Receivable to process single payments from a customera€™s head office and apply it to the subsidiary accounts.


During receipt entry, Accounts Receivable displays the transactions for all members of the national account at once, so you can quickly assign the payment to applicable customer accounts. The Communication Department creates, coordinates and manages comprehensive internal and external communications strategy of the financial administration including cooperation with public bodies of the Czech Republic. Financial management as we all know incorporates the classification, management and properly maintains the financial transactions of any organization. They work directly under the shareholders of the organizations and are even elected by the shareholders or by the CEO of the organization. Numerous years of vital experience is required by the organization for this honorable management position. This job title is further sub categorized in two categories aka internal financial consultants and external financial consultants.
Along with this, the growth and improvement of company’s financial area is also handled by this covetous professional.
He works as an assistant to the HOD of the finance department of a company along with handling and managing the company’s financial statements. This person is basically a finance graduate with little or even zero work experience in the industry.
It is the hub from which all other modules operate and affects nearly everything you do in your Sage Accpac systema€”from establishing security to searching for a record within a file.
It provides a robust feature set designed to handle your most demanding budgeting and processing needs.
Efficiently replace outdated information with a few keystrokes to remain current with elements critical to your business. This allows you to limit user activity to a prescribed set of accounts, blocking sensitive or confidential accounts from being seen or changed.
Accounts Payable has a powerful library of accounting and reporting features that facilitate rapid entry of vendor invoices, flexible cash disbursement and full check reconciliation using Bank Services. Increase your ability to quickly change, combine, or copy the numbers you need to run your business with only minimum effort. Accounts Receivable allows you to easily apply cash to outstanding invoices and create recurring charges for quick invoicing of monthly charges.
It's not necessary to know the customer number on the document-a useful feature when you're in a hurry. Efficiently replace outdated information with a few keystrokes to remain current with elements critical to your business.
Sophisticated multi-currency accounting management and the ability to process transactions in any number of currencies give your business the global competitive edge required in today's business world. Sage delivers with the multi-currency module in Sage Accpac - providing you and your business with the tools to get it done.
In addition, its built-in flexibility automatically generates intercompany loan account entries according to user-defined relationship tables called routes. Optional fields allow you to customize Sage Accpac and provide comprehensive reporting and analysis capabilities across your entire accounting system.
Imagine being able to trace the optional field information you define for customers and items to your Order Entry orders, Order Entry shipments, Order Entry invoices, Accounts Receivable invoices through to your General Ledger journal entries and accounts. It fulfills the spokesperson obligations and it is responsible for activities of directly subordinate units.
These individuals work under the amorous experience and guidance of a senior financial management official for gaining vital experience. In order to see all the Concept Maps in an integrated Learning Module you will need to GOTO Phronesis (see below) and Register for the Business Studies Course 2013.
System Manager includes effective tools that ensure data integrity and complete processing and security management, enabling users to work more productively. General Ledger fully integrates with all modules and is the key to maximizing the efficiency and accuracy of your financial data. Account Code Change also includes the ability to modify segment delimiters and the account segment length. With this comprehensive financial management tool, you can prioritize payments, negotiate terms, reduce bad debts,a€”all in a timely manner.
Accounts Receivable is also fully integrated with Bank Services, for complete bank reconciliation. This multi-currency accounting software empowers your business to effectively manage currency balances, execute accounting transactions, create reports, and much more. You can manage information more effectively and easily obtain necessary data for analyzing business operations and practices. It coordinates and methodically manages activities of spokespersons of the financial administration bodies. Minimum of two to three years of financial experience is required by the companies for hiring a financial associate. System Manager also allows Sage Accpac to run through a standard Web browsera€”without client softwarea€”centralizing IT management and lowering overall ownership costs.
With its powerful accounting and reporting features, Accounts Payable makes it easy to manage the detailed information your company requires. When communicating with media and public, it cooperates with management staff at all levels of the financial administration.
Additionally, System Manager provides employees, customers, and partners with secure anytime, anywhere access to Sage Accpac.
It is responsible for providing information on the activities of financial management to the public.



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