4. Profitability
Ensuring an organization’s overall operational efficiency
leads to the smooth
functioning of every organizational department. It, in turn, increases productivity,
which
comes with a direct, positive relationship with profitability. Hence,
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establishing effective financial control measures ensures the improved profitability
of any business.
5. Fraud prevention
Financial control serves as a preventative measure against fraudulent activities in
an organization. It can help prevent any undesirable
activities such as employee
fraud, and many others by monitoring the inflow and outflow of financial resources.
- Conclusion.
In conclusion, financial planning and control are
indispensable components of
sound financial management for individuals and organizations alike. By integrating
disciplined planning and effective
control measures, entities can optimize their
financial resources, mitigate risks, and work toward achieving their short- and
long-term objectives.
By embracing the symbiotic relationship between financial planning and control,
individuals and organizations can cultivate a
robust financial management
framework that fosters sustainability, growth, and resilience. This integrated
approach provides a solid foundation for realizing financial aspirations and
weathering the complexities of an ever-evolving economic landscape.
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-
Used literature.
- A.V. VAHOBOV, T.S. MALIKOV, “Finance “
- Literatures of
Oxford Academy
- Literatures of
Harvard Universities
- International financial information
- Financial slides
And another financial literatures.
