Financial Forecasting

Definition of Financial Forecasting as it relates to Business, Financial Management, Administration

Financial Control refers to the systematic approach undertaken by an organization to manage, monitor and report its financial operations. It involves the establishment of policies, procedures and systems to ensure that financial resources are used effectively, efficiently and ethically in alignment with the organization's strategic objectives. Financial control includes budgeting, forecasting, financial planning, internal audit, financial reporting, and compliance with legal and regulatory requirements. The ultimate goal of financial control is to provide accurate and timely financial information to support decision-making and ensure the organization's financial sustainability.

Note
Related Categories ⇒