INTEGRATION PAPER

Integration Paper

Integration Paper

How important do you now view accounting and finance to be in relation to strategic decision making? Has the module changed your opinions in this regard?

The current crisis, the globalization of finance and lack of financial resources, have reduced the margin error in the strategic decision-making. These issues also force employers and financial managers to make decisions based not only on intuition, but in theory, methods, models and proven practices that will ensure the success at the lowest possible cost (Khan & Jain 2007, Pp. 114-124). The financial analysis for each of the commercial organization is performed with answers to questions that arise in the analysis of the company and during the operations including various management decisions. Thus, analysis of financial statements can be a tool for detection and diagnosis of the crisis and the positive trends in the organization (Brigham & Ehrhardt 2010, Pp. 540-796). To perform this function, the financial manager must work out strategy for the analysis of financial statements to meet the basic requirements of the financial analysis and the requirements of the private investigator. In-depth analysis of financial statements also reveals problems in the availability and condition of the property potential of the organization, including obsolescence of fixed assets of the enterprise.

How can you link what you have learned in Finance and Accounting for Managers with what you took away from your previous modules?

Financial management has direct relation to other modules. In any area of management, finance plays a vital role in the performance and operations of the organization. Marketing, human resource management, strategic management, and other areas require support of financial management. Financial managers use organizational objectives as a decision criterion.

Marketing department cannot launch a campaign or a new product without the consent of the finance department. It is ...