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SOP Manual for Financial Management

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This article discusses “Financial Management and its SOP Manual”. Financial Management is one of the most important aspects in business. Larger organisations will have more specialized finance teams with many levels of management. In a smaller business, it may be the owner or a small team who have broader role and greater responsibility. In order to start up or even run a successful business, you will need excellent knowledge in financial management.

  • Maintaining enough supply of funds for the organisation.
  • Ensuring shareholders of the organisation to get good returns on their investment.
  •  Optimum and efficient utilization of funds.
  • Creating real and safe investment opportunities to invest in.
Role and Responsibility for finance department:
  • Bookkeeping
  • Management of Company’s Cash flow
  • Budgets and Forecasting
  • Advising and Sourcing longer term
  • Management of Taxes
  • Management of Company’s Investments
  • Financial Reporting and analysis
  • Assist managers in making key strategic decisions
Some of the international association of Financial Management:
  • Financial Management Association (FMA).
  •  Indian Finance Association (IFA).
  • The Association for Financial Professionals (AFP).
  • Media Financial Management Association (MFMA).
  • The Bankers Association for Finance and Trade (BAFT).
  • IT Financial Management Association (FMA).
  • American Association of Finance and Accounting (AAFA).
  • Construction Financial Management Association (CFMA).
  • Health Care Financial Management Association (HFMA).
  • Government Finance Officers Association (GFOA).
  • Financial Management Association Survey and Synthesis (FMASS).
  • Association of Government Accounts (AGA).
  • Fund Finance Association (FFA).
  • Dallas Association for Financial Professionals (DAFP).
  • Financial Management for Community Association (FMCA).
  • North Carolina Government Finance Officers Association (NCGFOA).
  • The Association for Financial Markets in Europe (AFME).
  • British Accounting & Finance Association (BAFA).
  •  MBA Dept Association (DA).
  • Student Finance Association (SFA).
  • Australian Finance Industry Association (AFIA).
  • Indian Bank’s Association (IBA).
  • Financial Management Association of Australia (FMAA).
  • Equipment Leasing and Finance Association (ELFA).
  • Global Financial Markets Association (GFMA).
  • Housing Association Finance (HAF).
  • Association of Indian Management Schools (AIMS).
  • Association for Education Finance and Policy (AEGP).
  • Kenya Bankers Association (KBA).
  • Canadian Bar Association (CBA).
  • Structured Finance Association (SFA).
  • Alternative Investment Management Association (AIMA).
  • Alzheimer’s Association (AA).
  • Digital Lenders Association of India (DLAI).
  • International Capital Market Association (ICMA).
  • Karnataka Golf Association (KGA).
  • Gujarat Cricket Association (GCA).
International Standard Related to this Industry:
  • ISO 15782-1: 2009 – Certificate Management for financial services
  •  ISO 15782 -1: 2003
  • ISO 22222: 2005 Personal financial planning certification
  •  ISO 9001: 2015
  •  ISO 9004: 2009
  •  ISO 31000: 2018
  •  ISO 27001: 2013
  •  ISO 45001: 2018
  • ISO 31000: 2009
Some of the magazines and journals that will keep you track on:

You Tube:
https://www.youtube.com/watch?v=fSyrXG6j81M 

Written by SOP Team

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