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Importance of Financial Management in Businesses: Online Degree in UAE

29-Nov-2017 16:45:20 / by Nabeela D'Sa

Nabeela D'Sa

Most, if not all, organizations (both governmental and private sectors) have at least one finance manager reporting to the CEO, Director or Centre Head on investment activities, financial reports and developing and carrying out cash-management. This to say is a vital role is an understatement and an online degree in UAE on financial management in businesses would be a real boon.

Although the responsibilities of a financial manager vary according to the company and the position, some of the common tasks include preparing reports that are required by regulatory authorities, such as receivables and payables. Finance managers are responsible for other vital statements such as the balance sheet, income statements and analyses of future earnings and expenditures. All these describe and determine the organisations financial health.

...an online degree in UAE on financial management in businesses would be a real boon...

Considering the work load and the importance of reliable information from the finance department, every employer looks for a skillful, switched on employee who can help direct the business onto the right path and more importantly keep it there, financially! Hence, to compete with the ever changing requirements of business owners and corporations attaining a qualification in financial management increases your worth in the market as well as your job security.

The effective management of a company's cash flow can make or break the organisation. Cash flow is positive will allow the investors to look forward to growing the business as compared to being concerned about the 'now'. Finance managers help businesses manage their cash flow to ensure a positive balance is maintained and this is a skill learned through experience or through a masters in finance.

Typically, a career in the field of finance needs a masters degree at the least and courses available include topics such as fundamentals of business finance, business finance and ethics, business finance and law, tax laws, accounting principles and management, e-commerce finance and other relevant topics. These programs help candidates learn the skills of focusing on different aspects of the business like systems integration, business strategies, technology implementation and HR requirements.

Today in the UAE, there is tremendous demand for accountants and finance managers who have experience in dealing with VAT and Duties. Regulatory changes have put pressures on organisations to ensure that their finance managers are capable of handling new businesses and continued growth of established clients by effectively managing their invoices, billing cycles and settlements. The introduction of VAT has spurred demand for VAT experienced finance managers, credit controllers, cash flow accountants and risk assessment officers.

In order to climb aboard the expressway successfully, you would need to equip yourself with the skills and knowledge required for ensuring a business remains tax compliant. These skills can be learned through a recognised and reputed Masters in Finance or a Continuing Professional Development (CPD) course.


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Topics: Finance

Nabeela D'Sa

Written by Nabeela D'Sa

 

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