Question

What finacial management functions does admin support regarding recruitment, regarding conditions of service requests such as housing allowance Financial disclousers and Transfers.

What financial management functions does Admin support do regarding montoring of PMDS, regarding training

What financial management functions admin Do regarding Building mainteannce and OHS, regarding transport, ICT, Finance, Asset management and procurement

Answer 1

Financial management is formed to determine the financial position and take up various activities like recruitment,training sessions and solving financial disputes.For recruitment in financial management one should possess good accounting knowledge and should be able to record and maintain financial records.Financial management deducts housing allowance from salary as company needs to pay the amount for the stay.This management even derives the financial position by inflow-outflow of cash,settling  transfer amount or credit amount, by preparing profit and loss,balance sheet.In this manner the financial disclosures are made.

Financial management even closely observes the training given regarding Performance Management Development System(PMDS).It ,makes sure that training is carried out efficiently and all the required knowledge and skills are delivered properly.

Financial management ascertains the costs incurred on buildings 'maintenance,ICT,OHS,transport,Finance,Asset management and procurement.It inspects if the buildings are maintained clean and neat,checks if the rate purchased assets and received amount tallies or not.It makes sure that the assets received are procured and used correctly.It detects the frauds and misappropriations.Financial management analyses the company's issues relating to finance and financial position by ascertaining the income and revenue received.It even checks if the costs incurred on transportation,exporting to another place are accurate or not.It determines the resources spent and allocated to Information and communications technology (ICT) are used efficiently or not.If in case resources are not used efficiently then financial management takes necessary actions and decisions for optimum usage.

Therefore,Financial management plays a key function in maintaining financial records and taking financial decisions ,inspecting the usage of resources allocated to various departments.