Financial Management
description
Transcript of Financial Management
![Page 1: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/1.jpg)
Financial Management
![Page 2: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/2.jpg)
Single EntryWhere do you find it?
![Page 3: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/3.jpg)
![Page 4: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/4.jpg)
![Page 5: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/5.jpg)
![Page 6: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/6.jpg)
Single Entry• Tracks key items
• cash
• bank
• Assets
• sales
• debtors?
![Page 7: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/7.jpg)
Evolution
![Page 8: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/8.jpg)
![Page 9: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/9.jpg)
![Page 10: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/10.jpg)
Double EntryConcepts
![Page 11: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/11.jpg)
What is double entry?
Recording each voucher twice?
More jobs for
accountants?Backup system
for accounts?
![Page 12: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/12.jpg)
![Page 13: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/13.jpg)
![Page 14: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/14.jpg)
Double EntryIllustration
![Page 22: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/22.jpg)
Adapted from www.principlesofaccounting.com
Click graphic to skip
![Page 24: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/24.jpg)
Adapted from www.principlesofaccounting.com
Click graphic to skip
![Page 25: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/25.jpg)
Advantages
• Reduced errors
• Reduced fraud
![Page 26: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/26.jpg)
AccountingPractice
![Page 27: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/27.jpg)
ProofMemory
DetailsAccount Head
Vouch for
One side of double entryCash Control
AnalysisSecond side
of entry
Accounting Flow
![Page 28: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/28.jpg)
SupportsBills & Cash Memos
![Page 29: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/29.jpg)
![Page 30: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/30.jpg)
![Page 31: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/31.jpg)
![Page 32: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/32.jpg)
![Page 33: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/33.jpg)
![Page 34: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/34.jpg)
![Page 35: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/35.jpg)
![Page 36: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/36.jpg)
![Page 37: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/37.jpg)
Proper Support
• Genuine
• Address / contact information of vendor
• Prepared / signed / dated by vendor
• Clear description of items, rate, value
• No alteration
![Page 38: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/38.jpg)
Taxi Payments• Vehicle number and model
• Driver / owner’s name, phone number, address
• Distance, places travelled
• Time and date
• Odometer reading
![Page 39: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/39.jpg)
![Page 40: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/40.jpg)
Checking Bills• Check…
• Items purchased are clearly shown
• Calculation (Price x Quantity)
• Totals
• Tick off the figures
• Look for Approval
• Mark As Paid after Payment.
![Page 41: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/41.jpg)
Doubt
• Name of Buyer?
• Date of bill / cash memo
![Page 42: Financial Management](https://reader036.fdocuments.us/reader036/viewer/2022070405/56813ed8550346895da94936/html5/thumbnails/42.jpg)
Further Reading
• AccountAble 2: Balancing the Accounts
• AccountAble 89: NGO Accounting
• AccountAble 90: Basis of Accounting