subject: Some Useful Tips To Manage Personal Finance And Legal Formalities For Organizations [print this page] Some Useful Tips To Manage Personal Finance And Legal Formalities For Organizations
The whole success of any organization depends upon the financial management of that unit. The world of business is not untouched by the name of personal finance. A finance manager of an organization can keep all the financial transaction on the right track. In the other form we can say the finance manager is a back bone of any big unit. Every organization issues a balance sheet every year. A balance sheet is a mirror of profit or loss of any organization. A well planned finance manager presents a disciplined balance sheet of the organization. He is expert in his business, also declares the yearly expenses and the budget of the company. So preparation of balance sheet becomes necessary here are some tips.
From thee exact calculation of income the liabilities are deducted. The liabilities can be in the form of tax, other investments, loans, investors share, company rent and other form of investment for the betterment of the company.
The expense of the company is calculated keeping a close eye of the workers salary, telephone, mobiles. Computers, the car EMI's and children school fees and other short expenses are mentioned while preparing a balance sheet.
To run a business smoothly without the other department of the company also plays a very important role. The success of the business also takes the help of debt management, man management or discipline management of the company. These departments look into the various other short expenses of the company or any outstanding of the company or on the company. The other investment, in which the money is channelized towards the company is counted as an asset. They are also managed by the other responsible department of the company. A best self finance management may consider the underwritten things.
Avoid the extra expenses by educating the children and company workers about the role of money in everyday life.
Developing a habit to open a saving account among the children and other elders too.
Avoid purchasing unnecessary things to avoid blockage of the money.
The saving of the children should be invested on the premiums of the life savings.
In order to run a successful organization the concerned departments should also keep a legal advisor for daily updates about the legal formalities and actions to be taken in time. A company's legal advisor plays an important role to go through the matters of the court. The form of the company should be decided before putting the business to run. Except this the memorandum of the company is an important literature by which the company shows the nature of business and form of the company. Thus a legal advisor of the company is a most important person who should not be underestimated. He performs the following work.
A knowledgeable legal advisor keeps a record of business incorporates.
A well and learned legal advisor tracks meeting of the board and laws side by side.
A legal advisor keeps records of company's shareholders and agreement.
Keeps a record of workers agreement.
Responsible for obtaining and preparing stock strategies.
To run an organization the role of an accountant is not ignored. He looks after the company's audit and the scheduled review of the company. Another important task of book keeping is done in the company. A book keeper is kept in the company who keeps all the record of accounting in a book form and maintains it regularly. The company keeps a current account to do all the transactions of the company. The other important segment is human resource and management. For this a human resource manager is kept in the company to accomplish the task of man management.
