A Research Proposal of Inventory and POS System for Bida Mart in the City of San Jose Del Monte, Bulacan

Vol.4, No.1

Abstract

What is a financial management system? It is planning, organizing, directing, and controlling
the financial activities of a company, such as procurement and utilization of funds. It means
applying general management principles to the financial resources of the company. For
individuals, it is meant to manage earnings in order to have good financial health and
stability in the future. The common problems in this system are low sales and excessive
costs, which are the two most evident causes of financial trouble. For a company,
unexpected costs, excessive debts, lack of savings, poor credit, overspending, and a lack of
financial planning and budgeting are some additional contributing factors.
Financial management attempts to assist compliance and regulation adherence in addition
to its primary goal of ensuring a company is both effective and profitable. Maximizing
revenue returns to investors and corporate value follows the cash flow and liquidity. Utilizing
resources efficiently, keeping your end stakeholders' promises, gaining a competitive edge,
and setting up your company for long-term financial stability are all made possible by good
financial management.
By creating reports, planning for the future, and managing budgets, financial management
entails controlling a company's financial status. No matter the size of the company, financial
management has the same objectives and duties. Planning strategically for a company's
income and expenses is referred to as financial management. This involves choices
regarding budgeting, borrowing money, and raising capital. Setting financial goals and data
analysis are further components of financial management. You can create an income budget
with the aid of financial management because planning spending savings and investment
priorities with a budget can help you make the most of your income to stick to the budget,
not go beyond, and put money towards savings in accordance with your lifestyle plan.