What is financial management accounting?
Financial Management Accounting is the support most often associated with the Chief Financial Officer (CFO) and finance department of a company. These services primarily involve looking into the future by converting a business plan into a budget or financial model and helping a company manage to its plan. CFO’s provide management and the board with financial clarity and visibility into the financial results—why they occurred and what can be done to improve financial performance in the future. These services include financial oversight, financial trend analysis, cash management, debt management, board and management reporting, dashboards, benchmarking, budgeting and forecasting.
Why financial management is important for a company?
While ensuring a business is both successful and profitable are the main aims of financial management, it also seeks to: support compliance and regulation adherence. maximise profits, stakeholder returns and overall company value. track liquidity and cash flow.
Does FOMCS provide financial management accounting module?
Your business wallet! FOMCS it records all the debits / credits of your business from all your yacht charter bookings, yacht sales, associates and yacht services in 28 different currencies. Receive notifications of any pending payments or overdue collections. You can get reports with different filters to have a complete management of your financial balances.
As your business grows, you need a reliable all-in-one company management software and that’s FOMCS!