The essence of any business is to ensure that the financial affairs of that business are correctly and astutely handled. Obviously, this includes its day to day running, keeping books and records, ensuring budgets are calculated, profits correctly analysed …and more.
Then of course, there is also that tax aspect of the business …and as VAT vendors or not, this usually requires the input of professional accountants. A previous article that we wrote ‘Why Accountants should be handling your tax matters’ tells you exactly why.
But there is still more, and that is the financial advice that is generally needed to ensure correct Financial Management of a business in the broader sense. Also remember that many SMEs have proprietors whose personal financial affairs are in some ways inextricably linked to the business, so additional personal financial advice is often required.
Obviously then there’s far more to Financial Management than just Accounting, so let’s look at why…
Why is it important?
As the London School of Business and Finance puts it “Financial management is one of the most important aspects in business. In order to start up or even run a successful business, you will need excellent knowledge in Financial Management.”
What is it exactly?
They go on to say, “Essentially, Financial Management refers to strategic planning, organising, directing and controlling financial matters in any business, or organisation, regardless of size. It also includes applying management principles to the financial assets of an organisation, while also playing an important part in fiscal management. Maintaining enough supply of funds for the business/organisation is also a part of it.”
What does it achieve?
- It ensures that the business maintains sufficient funds and supply of additional funds
- It ensures the optimum and efficient utilisation of the business’ funds
- It creates safe investment opportunities
- On a larger scale it ensures shareholders get good returns on their investment
What do we offer as Advisory services to effect good Financial Management?
At Sky Financial we pride ourselves on providing not only superior cloud based solutions, but also holistic, comprehensive solutions for all our clients regardless of size or status. Additional to our professional Accounting and Tax services we provide many Advisory services which include:
- Project and expansion feasibility and evaluation studies
- Financial performance analysis
- Corporate governance
- Implementing financial systems
- Budgeting
- Forecasting
- Business planning
- Valuations …and Capital-raising services
Contact us to find out why we have many loyal and satisfied clients and discover for yourself that when you partner with us, there’s far more to Financial Management than just Accounting!