Financial Management
Efficient Financial Management plays a key role in any organization’s success. Therefore it is essential to manage this department in the most professional manner. Finance plays a ‘Business Partner’ role in the overall growth of an enterprise. It is not only concerned with Accounting and Tax-Related issues, but more importantly, Finance provides valuable inputs to chalk-out way-forward for any Company.
Components of ‘Financial Management’ are:
- Development & Implementation of Finance Policy including Appropriate ‘Delegation of Authority at various Level’.
- Compliance of Financial Statements as per Nepal Financial Reporting System (NFRS)
- Advising and implementation on the appropriateness of ‘Finance Software’
- Balance Sheet Management (Actual & Projected)
- Profit & Loss Account (Actual & Projected)
- Cash Flow (Actual & Projected)
- Comprehensive Tax Management
- Budgets and Forecasts
- Development & Implementation of Professional MIS System:
- Monthly Variance Reports
- Daily Cash Flow Reports
- Weekly Receivables & Payables Reports
- Periodic Bank Reconciliation
- Coordination with Audit for:
- Internal Audit & Compliance
- Statutory Audit
- Regulatory Audits (if applicable)
- Advising on aspects of optimization of Assets
- Optimization of Costing Structure
- Analysis of existing investment projects
- Elaboration of tailor-made business plans taking account of clients’ specifics
- Analysis on Feasibility of New Products and New Branches from Financial perspectives.
- Management of ‘Authorized Signatories’ for Official Documents and Bank Accounts.
- Debt structuring to suit client needs.
- Check-List Method for all Regulatory Reports Filings such as:
- Reports to Office of Company Registrar
- Reports to Tax Office
- Reports to Local Wards/Municipalities
- Structured Reports to relevant Regulatory Bodies (Depending upon nature of the Organization)
- Training on various aspects of Finance, such as:
- Financial Statements as per NFRS Standards
- Tax Management
- MIS
- Budgeting
- Others
- Play a critical role in the overall ‘Strategic Management Process’ of the Company.
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