Question

Managing your finances is a daily or weekly personal activity for financial well-being. Health care facilities also need close financial monitoring for decision making and improvement activities. Explain two (2) professional development activities you can peruse to improve your financial management skills for career advancement?

Answer 1

Financial management skills are very essential for career advancement. It must need some professional development activities to achieve the objectives which are as follows:

1. Planning and organising financial resources.

2. Controlling and monitoring financial resources.

3. Competitive advantage

4. Writing a detailed and clear business plan.

5. Monitoring the financial progress.

6. Cash flow management.

7. Covering day to day costs

8. Good record keeping system

9. Meeting tax deadlines

10. Efficient stock control

11. Business financing options

12. Making proper plan, misson and vision

13. Commit to saving money.