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For many professionals, financial management is a much-needed skill that is expected from a finance manager who is responsible for the finance functions of a business. It is an area where managers are required to be trained and have the expertise of offering analytical insights as well as strategic guidance to top executives in companies.
But Financial Management can be complicated. There are business financing, dividend policy decisions, investments, risk management, financial reports, and forecasts, behavioural finance – that is a lot to think about!
ACCA’s Financial Management (FM) course has all the necessary cornerstones for every finance manager’s career. It helps finance managers acquire the necessary and relevant knowledge and skills to contribute to the overall success of business finances as well as minimise the negative economic impact of the COVID-19 pandemic.
ACCA-certified finance managers would be able to act as key players in supporting their companies’ businesses as the COVID-19 crisis continues. It is during this time that they can showcase their expertise in relation to company investments, financing and dividend policy decisions as their companies face continued financial pressure. At this point, an ACCA-certified finance manager needs to be able to think clearly under pressure and stay updated with the latest information.
– Ensuring any financial management actions and process changes are essential for the future of the business.
– Adapting financial management information to reflect current circumstances.
– Updating cash flow and liquidity forecasts as well as generating liquidity in the short term.
– Considering the availability of immediate cash savings, bearing in mind the impact on customers, suppliers and workforce.
– Considering reduced dividends, reviewing distributable reserves and the ability to make payments.
– Re-analysing the value of the shares issued to shareholders.
– Considering how budgets need to be reallocated to match changed priorities.
– Optimising the capital structure.
– Communicating any changes and reinforcing policies that may now be particularly relevant. Eg. Home working expenses.
– Reviewing staff expenses’ policy in respect of changed working practices and circumstances.
– Increasing the frequency and quality of balance sheet reconciliations and substantiation to validate cash flow forecasts.
– Reviewing sundry debtors for collectability.
– Ensuring two-way communication around new risks arising and changes to risk profile.
The ACCA’s Financial Management (FM) Paper exists to help finance managers make all the right financial moves. With the adoption of multiple teaching strategies for effective coverage of a vast syllabus, finance managers will gain useful insights on business finance and valuations, working capital management, risk management and investment appraisal techniques etc.
They will also be comfortable with using technology to efficiently access and consolidate relevant data, work on relevant response options and present the information effectively. The course has gained international recognition as an authority on financial management issues to help like-minded professionals who want to excel in the finance industry.
Today, India’s financial sector has been one of the fastest growing sectors in the economy. It has witnessed increased private sector activities including an explosion of foreign banks, insurance companies, mutual funds, venture capital and investment institutions.
Taking the ACCA certification in Financial Management (FM) is essential in becoming a successful finance manager and staying relevant. It also empowers you to unlock limitless opportunities in the Indian finance industry. Finance managers can excel and shine in their roles with the proper knowledge and skills attained from ACCA’s well-recognised Financial Management (FM) paper.