Financial Management – Design and Implementation of a Computerized Financial Management System for Public Institutions
Financial management is inextricable linked with financial planning. This notwithstanding, control parameters are outcomes of financial planning decisions. However, systematic planning in itself requires a degree of control in terms of its process and procedure.
Everyday, people take decision which can be less frequent or as a result of the importance at to it. In all cases, if the decision is to be taken on a rational bases, the decision maker will need information about the likely outcome and consequences of his decision. The luxury of being in a position of action (including in action) is open, in the future, to the decision maker. Otherwise, there is only one course of action and decision. [Read more…]