Financial management at Forex
In a modern economy, financial flows are the main object of management at any enterprise, since every economic decision is directly or indirectly related to the movement of funds.
In a modern economy, financial flows are the main object of management at any enterprise, since every economic decision is directly or indirectly related to the movement of funds. Therefore, most managers in one way or another have to interact with financial services in the process of implementing their functional tasks.
In this regard, knowledge of the basics of financial management today is necessary for every middle and top manager of management for a deeper and more comprehensive understanding of the problems facing his enterprise and effective performance of his functions.
Finance is a specific area of economic relations associated with the formation, distribution (redistribution) and use of funds of funds.
Money, as the material basis of financial relations, plays a vital role in a market economy, expressing and harmonizing the interests of its participants, and also acting as a universal value equivalent.
The fund of funds is understood as their separate part, which has a designated purpose. The money held in such funds is called financial resources.
Currently, the management of financial resources is one of the main and priority tasks facing any enterprise. The priority of this direction in the system of enterprise management goals is due to the fact that finance is the only type of resource that can transform directly and with the shortest time interval in any other: means and objects of labor, labor, etc.
The rationality, expediency and efficiency of such a transformation largely determine the economic well-being of the enterprise, as well as all subjects interested in its functioning: owners, employees, contractors, the state, society as a whole.
The key role of financial resources in a market economy makes it necessary to separate the functions of their management into an independent sphere of activity - financial management.
Financial management is the management of financial resources and financial activities of an economic entity, aimed at implementing its strategic and current goals.
Broad and multifaceted in its content, financial management can be viewed in a variety of contexts:
- as a scientific discipline;
- as a financial management system for an economic object;
- as a type of entrepreneurial activity.
Financial management as a scientific discipline is a system of theoretical knowledge, concepts, models and developed on their basis applied methods, techniques, tools used in the process of making management decisions.
The theory and practice of financial management are in continuous development, responding to various changes in the economic environment.