Emerging and developing small and medium-sized businesses often reduce financial management to just work with output of financial accounting. However those companies need gradually to solve advanced financial management tasks going beyond the financial accounting. This is an area of management accounting, controlling, calculation of product costs ,budgeting ,investment decisions , pricing, financial analysis, inventory optimization, analysis and proposals for management measures, preparation of documents for bank loans etc. This opens up scope for co-operation with a consultant who, in co-operation with accounting staff either addresses or proposes working pratices, which will facilitate the future aquisition and evaluation of information from corporate information system.
Finance is the blood of the company. Keep clear the way, where and why flow.
Good financial management will help businesses to navigate through the jungle full of pittfals.