Track
Financial System
14 free lessons in this track.
Introduction to the financial system
The financial system is a set of systems and procedures used to manage financial resources within institutions and countries, with the aim of achieving…
Read articleObjectives of the financial system
The financial system seeks to achieve 11 main objectives that form the strategic framework through which the system operates at the level of individuals,…
Read articleThe relationship between the financial system and warehouse management
Integration between the financial system and warehouse management ensures accurate inventory valuation, improves cash flows, and supports strategic decisions.…
Read articleThe relationship between the financial system and customer management
Coordination between the financial system and customer management improves the accuracy of financial data, enhances credit risk management, and increases…
Read articleThe relationship between the financial system and marketing management
Collaboration between the financial system and marketing management ensures the achievement of financial and marketing objectives together and increases…
Read articleFinancial years interface
The Financial Years interface organizes financial data over time and enables comparison between periods and strategic decision making based on the performance…
Read articleChart of accounts
The chart of accounts is an organized set of lists and codes used to classify and record financial transactions, and it forms the backbone of any accounting…
Read articleAccount carryforward setup
Account carryforward setup is the process of transferring accounting data from one period to another accurately and professionally, and it goes through eight…
Read articleCost centers in the financial system
Cost centers are organizational units used to identify and track costs associated with different activities, which improves strategic decision making. Types of…
Read articleMain activities in the financial system
Eight core activities form the operating framework of the financial system and enable effective financial management while ensuring transparency and…
Read articleApproval authorities in the financial system
Approval authorities are levels of authorization granted to individuals to make specific financial decisions, intended to ensure the safe and orderly…
Read articleJournal entries
Journal entries are the processes in which financial transactions are recorded in the accounting books using the double entry system to ensure the books remain…
Read articleClosing reports
Closing reports are financial documents prepared at the end of the accounting period to summarize and analyze financial performance and provide insights for…
Read articleCustomer, sales representative, and supplier reports
Three types of reports directed to external parties that serve as strategic tools for improving business performance and relationship management. Customer…
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