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The importance of Financial Management

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The importance of Financial Management

Robin Jarvis
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Robin Jarvis is Head of SME Affairs at the ACCA and Professor of Accounting at Brunel University. 

As Head of SME Affairs he advises ACCA on SME policy issues.

Robin has experience of starting a business which was successfully sold after 12 years of trading. Additionally he has been a director of two SMEs and is currently a non-executive director of a on-line publishing company.

Information

It is important that performance is measured regularly to ensure targets are met.  It  is also appropriate to monitor how well sections of the business are performing. The key performance measures should include both quantitative and qualitative measures. The companies auditors should have a view as how effective are the management information systems. The main problems in managing customers and suppliers overseas are foreign exchange exposures, the distance in terms of relationships and cultural differences.  

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