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In: Accounting

Elaborate 5 (FIVE) methods of managing risks for finance/accounting profession in different industries during this pandemic...

Elaborate 5 (FIVE) methods of managing risks for finance/accounting profession in different industries during this pandemic situation.

-New Gaps in Internal Control

- Going digital

- Redesigning operating models

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Expert Solution

Financial Risk Management

In padamic Situation Financial Risk Managenent is the practice of protecting econmic value in a firm by using financial instruments to manage exposure to risk,, operating risk , financial instruments to manage exposure to risk: business risk, legal risk, reputational risk, sector risk etc.

financial Risk management can be qualitative and quantitative. As a specialization of risk management financial risk management focusess on when and how to hedge using financial instruments to manage costly exposure to risk.

Relation between the Fiancial Function with Accounting

Management is a process of converting information in to action and according is a source of most of the information that is used for this purpose. According generates information/ data relating to operations of the firm

Accontng is sub funcgtion of finance. we can say that where the jobAccount hence the worrk of Finance manager starts. this is because accountants prepare financial statmwnts for the organization.

Business Process Design & Resign

A well - defined accounting and reportingstruture, controlling tools hels in genrating useful information, implement corporate policies & procedures smoothening the consolidation processes

The method Of Financial Managent

  • Financial Forecasting and planning
  • Procurement of funds
  • Investment Decision
  • Managent of Income
  • Advising the Top Managent

ekkarill92 answered 2 years ago
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