Student Name: Dimalaluan, Trisha Andrei P.

Section: BSBA-FM 2-3

Financial Management Insights 1

Introduction to Financial Management

1. Based on your understanding on the definition of Financial Management, In your

own words:

a. Create your own definition of what Financial Management is. Explain and
elaborate.

➢ Financial management, as I see it is a multidimensional field that

requires a thorough understanding of one's financial situation,
including both inflows and outflows. Its scope goes much beyond
merely bookkeeping, though, as it also includes proactively
identifying possible budgetary problems and developing viable
solutions. This all-encompassing strategy equips people to take
control of their money, make wise choices, and secure their financial
future. This systematic management of finances is the cornerstone
for establishing stability and security in a time of economic
unpredictability.

b. Provide examples in your daily lives that you already are or will be
applying Financial Management.

➢ As a college student living in a dorm, I actively track my everyday

expenses as a form of financial management in my day-to-day life.
I can keep track of my spending clearly as a result of this habit. I go
a step further by creating a weekly budget, which enables me to
organize and distribute money effectively. I evaluate my spending
at the end of each week or month and make changes as necessary
to make sure my financial goals are reached. I'm able to keep control
of my finances and make wise financial decisions whilst to this
disciplined approach.

2. You are the Finance Manager of a big and reputable company:

a. What traits and skills do you need to possess to be able to perform your
job? Provide examples.
 ➢ Several essential qualities and skills are required to function well as
a finance manager in a respectable organization. First and foremost,
having excellent financial judgment is crucial. This includes having a
thorough understanding of accounting procedures, financial market
dynamics, and financial principles. Making wise decisions, for
example, requires the ability to examine financial data, assess
investment opportunities, and discern economic trends. Analytical
abilities are a vital asset as well. It's necessary to have the ability to
analyze technical financial data and derive valuable insights. This
ability can be used in a variety of situations, such as finding ways to
cut costs, spotting financial hazards, or maximizing investment
portfolios.

b. As a self-reflection, how do you see yourself as A Finance Manager? What

will be your strengths? What are the areas you can improve? Explain and
elaborate.

➢ I can honestly say that my strong analytical and financial skills are
my greatest assets. I may not have (yet) a solid grasp of financial
concepts, but eventually learning them will help me make wise
decisions since I have the basic skills to discern issues based on my
financial experiences. As I continue to develop my understanding of
financial principles by the help of this subject, my foundation of
analytical skills will prove beneficial. My ability to discern issues
based on your financial experiences will help me navigate financial
challenges effectively and make wise decisions that align with the
company's objectives. My commitment to ongoing learning and
growth will be a powerful tool in achieving success as a Finance
Manager. Leadership, for instance, is an area I acknowledge requires
continual enhancement. While I have experience working in teams,
it's essential to dedicate more effort to developing my leadership
skills. This will allow me to motivate and lead my team more
effectively, driving them towards financial goals.