Financial management

Financial management

The process of managing financial resources, including management decisions concerning accounting and financial reporting, forecasting, and budgeting.

Industry: Business administration

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Financial management

Payment by results (PBR)

Business administration; Financial management

A system of remuneration in which pay is linked to productivity. See also piecework and work study.

Budget-based institution

Business administration; Financial management

An organisation that is required to prepare, and work to, a budget.

Forecasting

Business administration; Financial management

A series of techniques for trying to predict the future on the basis of known data, usually with regard to the economy or some aspect of it like sales, demand or the need for manpower planning. ...

Activity-based costing (ABC)

Business administration; Financial management

A method for costing products, used in accounting since the late 1980s, which links the overall cost of a product to the total cost of the various activities within a business organisation that ...

A form of taxation which is not paid directly to the government, as in direct taxation, but added to the cost of goods and services; for example, Value Added Tax or the tax on cigarettes and petrol ...

Creative accounting

Business administration; Financial management

A form of accounting in which the presentation of financial data is manipulated to the advantage of an organisation in any way possible within the law (or not, as the case may be).

Shadow price

Business administration; Financial management

A guess or best estimate of the price of a product in the absence of a market in that product which can actually provide one. See also opportunity cost.