One of the most critical aspects impacted by an organization’s decision is its finances. The growth or depreciation of the organization is dependent on the quality of its financial management and planning. With growing start-ups and businesses, the scope of financial management has grown to a grander scale.
While the primary factor of money management may seem to be saving money, there is much more to it than that. Good wealth management also includes efficiently managing the expenditures and multiplying the monetary capital in an organization.
Since the awareness and importance of Financial Management have plummeted over the years, more people have been choosing to pursue financial management courses to understand the nuances better and learn financial management professionally. If you are looking to pursue higher education at universities in the UAE, the best one is Manchester University, Dubai.
Scope of Financial Management
The majority of the decisions in any organization depend on its financial strength. As a graduate in Financial Management, you get to oversee crucial aspects of your company’s growth. There has been a drastic boost in the scope of financial management. As a professional, you can contribute in-
- Investment decision
As the financial manager of your company, you can give valuable input as to the prospective investments that the company may make. A financial manager makes major investment decisions with educated risk calculation and an estimate of benefits.
2. Working capital decision
As a financial manager, one also needs to make decisions surrounding the existing capital and liabilities of the company. Existing capital includes cash and securities, while liabilities are pending bills and overdrafts.
3. Financial decision
Major financial decisions for a company involve wisely creating a structure for withdrawing and investing in the company’s finances. The primary responsibility of a financial manager is to ensure optimal returns by maintaining a balance between equity and debt.
4. Dividend decision
A financial manager also develops a reasonable dividend policy for the organization to distribute or retain the profits. This helps to easily make use of the growth and expansion opportunities.
5. Ensuring liquidity
A crucial aspect of handling finances well is closely monitoring where the cash comes in from and goes out. A sound decision ensuring no underflow or overflow of money is another of a financial manager’s responsibilities.
6. Profit management
While a financial manager works toward saving up funds and maximizing the profits, they also must ensure limiting the costs and expenditures by curating a good policy for the organization. For this, a thorough study of the market is necessary.
It is always beneficial to pursue a post-graduation in the field of your interest. Manchester University, Dubai, is a leading institution that offers a Master’s degree in Financial Management. The best part about this part-time course is how it follows the blended-learning format and spans over 24 months. As a student, you get to experience first-hand the interplay between successful companies and the functioning of the market.
Pursuing a M.Sc. in Financial Management opens up a plethora of avenues for a career in finances. It gives you some much-needed exposure to the world of corporate financing and helps to gather up all the essential experience needed to embark on your journey as a financial manager.