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ACCOUNTING AND FINANCIAL MANAGEMENT FOR SUSTAINABLE DEVELOPEMNT

Mukoro, D. O. (2009) ACCOUNTING AND FINANCIAL MANAGEMENT FOR SUSTAINABLE DEVELOPEMNT. Journal of Management and Enterprise Development, 6 (3). ISSN 1117-1677

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Abstract

IUsiness enterprise is essentially an economic organization and has to maximize the welfare or the interest f the members. For this, it has to earn surplus profit, savings or by whatever name it is called, on its perations. This means that its receipts should be more than its expenses over a period of time, though what rill be done with this surplus depends upon the objectives, philosophy, ideology and a number of other 1ctors. The objectives of this paper is to find ways of measuring the success of a business enterprise, which ; to compare the volume of. such surplus with investment made in business, and how the financial 1anager' s maximization of the market value of the firm. Since the financial manager is a key member of the )p management team, his decisions are felt throughout the firm. Funds flow to industries where earnings xpectations are high, and the individual firm allocates its available funds to projects that promise the rate of ~turns, always considering the risk involved. The paper recommends that financial managers should be oncerned with the selection of specific goals like the types of assets that organization should acquire, the mount of the funds that should be used for expansion, the sources and application of funds, followed with 1e strategic components of financial planning: setting financial objectives, planning ongoing operations, apital budgeting and optimal financing structure. Profit planning compels management for sustainable uture of our economy.

Item Type: Article
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Hannah Akinwumi
Date Deposited: 05 Mar 2015 19:48
Last Modified: 05 Mar 2015 19:48
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/3693

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