Question

Why do organisations need policies regarding expenditure and financial management processes? Discuss in 100 to 120 words.(In Australian Accounting Environment) (Plz type up your answer)

Answer 1

Policies regarding expenditure and Financial Management are the most important part of a company to stay organised in terms of a financial availability.
Financial planning and strategy is essential to work according to the company's goals on to successfully implement and achieve the goal with which company is proceeding with their structure organisation need expenditure and financial management process to successfully assess the overall availability of asset and to plan accordingly. Management is also required to create an equilibrium between different processes. Financial Management and expenditure policies also increases company understanding towards changing market and to forecast available opportunities as well as threats for financial expenditures of the organisation which increases its overall market impact and improved business deliverables.