FINANCIAL

MANAGEMENT
TRAN KHANH LINH– F11C
F12-088
 TABLE OF CONTENTS

DIFFERENT APPROACH USED

TO SUPPORT DECISION
MAKING
01
FINANCIAL MANAGEMENT
PRINCIPLES WHICH ARE USED TO
SUPPORT EFFECTIVE FINANCIAL
02
STRATEGIES

THE ROLE OF MANAGEMENT

ACCOUNTANTS AND
ACCOUNTING CONTROL
03
SYSTEMS
DIFFERENT APPROACHES
USED TO SUPPORT
EFFECTIVE DECISION
MAKING
 DIFFERENT FORMAL AND INFORMAL APPROACHES USED TO
SUPPORT EFFECTIVE DECISION MAKING IN GIVEN
ORGANIZATIONAL EXAMPLE

Formal approach

Clear about who

participates when Build equality and Ensure the
Are made using
and how in the trust long term way transparence and
structures, systems and
decision making if which mean the efficiency in decisin
process
documented longer it is used making
properly
 INFORMAL
APPROACH

Faster in making
Through relationship,
Unclear about who decision and
networks and
participates when and how in flexible, adjustable Intranparent in
unwritten rules
the decision making if since there is no making decision
(Diefenbach and
documented properly proper protocol or
Sillience, 2011)
method
 APPLICATION
Formal approach :
Timo issue a decision to dismiss a manager of Sales and Distribution for the theft of Timo’s
confidential internal documents

Take to the Make

Discover the
Investigation Disciplinary decision:
violation
council dismissing
INFORMAL
APPROACH
Nowadays there are a lot of
organizations recruit employees
through relationship or networks
without a proper process. It can save
time and save cost but does not
transparent as well as ensure the ability
of the employees
 ANALYZE THE DIFFERENT FORMAL AND INFORMAL
APPROACH APPLIED TO SUPPORT DECISION-MAKING,
ADDRESSING BOTH ADVANTAGE AND DISADVANTAGE
Formal approach
In Timo’s case

- They clearly have a formal It might take a long time

process and stages in to finish whole
investigation -> ensure the investigation and make
transparence and fair before decision to dismiss that
making decision
employee
- Gain trust from Timo’s
employees from having a
clear and careful
investigation -> make a
better discipline and ethics
when working
INFORMAL
APPROACH
Advantage Disadvantage

-Quick -Confidentiality
-Low-cost way to implement time, -The employees’ ability to ensure the
manpower, result and productivity
-information related to corporate
culture, working environment,
remuneration or job specific will be
described to candidates before we
interview
 FINANCIAL MANAGEMENT
PRINCIPLES WHICH ARE USED TO
SUPPORT EFFECTIVE FINANCIAL
STRATEGIES
OBJECTIVE OF FINANCIAL
MANAGEMENT

PROFIT WEALTH
MAXIMIZATION MAXIMIZATION
FOR PROFIT MAKING ORGANIZATION

SAMSUNG, SOUTH KOREAN COMPANY THAT IS ONE OF THE

WORLD’S LARGEST PRODUCERS OF ELECTRONIC DEVICES.
SAMSUNG SPECIALIZES IN THE PRODUCTION OF A WIDE
VARIETY OF CONSUMER AND INDUSTRY ELECTRONICS,
INCLUDING APPLIANCES, DIGITAL MEDIA DEVICES, 
SEMICONDUCTORS, MEMORY CHIPS, AND INTEGRATED
 SYSTEMS. IT HAS BECOME ONE OF THE MOST-
RECOGNIZABLE NAMES IN TECHNOLOGY AND PRODUCES
ABOUT A FIFTH OF SOUTH KOREA’S TOTAL EXPORTS
• DATE FOUNDED: MARCH 1, 1938
• FOUNDERS: LEE BYUNG-CHUL
FOR NOT-FOR-PROFIT
ORGANIZATION
UNICEF aims

-Responds in emergencies to protect

the rights of children.

-Promote the equal rights of women

and girls and to support their full
participation in the political, social,
and economic development of their
communities,
Critically analyze the key financial management

SMART
S: Specific
Medium M: Measurable
term:
1-5 years A: Attainable

Long term: more R: Relevant

than 5 yearsm
T: Time-bound
Short term

S: expanding the market and

increasing sales.

M: profit before tax to sales ratio

is not lower than 20%

A: getting ready for M&A

activities and expanding strong
cooperative relationships with
partners

R: increasing profits
Long term goal: hold the leading position
T: 2021
in Vietnam's dairy industry, becoming the
most valuable dairy company in Southeast
(Vietstock, 2019) Asia
 EVALUATE THE ROLE OF
MANAGEMENT ACCOUNTANTS AND
ACCOUNTING CONTROL SYSTEMS
ROLE OF MANAGEMENT
ACCOUNTANT
Generate Interpret
finanical financial
data data

Present
finanical
data
FPT IS has the highest success
rate for Enterprise Resource
Planning (ERP) system
implementation across
Vietnam.

With over 600+ ERP

consultants and strategic
relationships with world
leading vendors, FPT IS
delivers unmatched expertise
across a full range of industry-
specific ERP solutions
THE USE OF ACCOUNTING CONTROL
SYSTEM
-Methods or procedure that form the complete internal control
system of an organization

-Concerned with ensuring compliance with accounting policies and

procedures, protecting the organization's assets

- Preparing reliable and timely financial reports

INTERNAL CONTROL
SYSTEM
Advantage
-lead to a more efficiently run
organization.
-ensure a company's resources are utilized
only for their intended purposes, greatly
minimizing the risk of resource misuse
-prevents any financial irregularities by
detecting them quickly and thus resolving
any issues that arise in a timely manner
Disadvantage
-employee frustration or apathy may result
-an internal control system that is too
rigidly designed to allow for adaptation to
a particular organization may be difficult
to sustain
- company's auditors to become over-
dependent on the internal control system,
 REFERENCE
Available at: <https://smallbusiness.chron.com/managerial-accountants-role-business-planning-38322.html> [Accessed 11
May 2020].
Diefenbach, T. and Sillince, J., 2011. Formal and Informal Hierarchy in Different Types of
Edwards, 2019. Who Are The Largest Shareholders Of Apple? (AAPL). [online] Investopedia. Available at:
<https://www.investopedia.com/articles/markets/120115/top-5-apple-shareholders.asp> [Accessed 12 May 2020].
Fpt IS. 2020. FPT Information System - Công Ty Hệ Thống Thông Tin FPT > Views > Erp. [online] Available at:
<https://www.fpt-is.com/Views/erp/cid/26> [Accessed 12 May 2020].
Johnson, R., 2019. Managerial Accountant's Role In Business Planning. [online] Smallbusiness.chron.com.
Kenton, 2019. Understanding Profit. [online] Investopedia. Available at:
<https://www.investopedia.com/terms/p/profit.asp> [Accessed 12 May 2020].
Organization. Organization Studies, 32(11), pp.1515-1537.
Techcombank. 2019. Techcombank Xử Lý Nghiêm Khắc Cán Bộ Vi Phạm An Ninh Thông Tin | Techcombank. [online]
Available at: <https://www.techcombank.com.vn/gioi-thieu/goc-bao-chi/tin-tuc-cap-nhat/techcombank-xu-ly-nghiem-
khac-can-bo-vi-pham-an-ninh-thong-tin> [Accessed 12 May 2020].
UNICEF. 2020. UNICEF's Mission Statement. [online] Available at:
<https://www.unicef.org/about/who/index_mission.html> [Accessed 12 May 2020].
Vietstock. 2019. Vinamilk Đặt Mục Tiêu Doanh Thu Tối Thiểu 56,000 Tỷ Đồng, Sẵn Sàng M&A | Vietstock. [online]
Available at: <https://vietstock.vn/2019/03/vinamilk-dat-muc-tieu-doanh-thu-toi-thieu-56000-ty-dong-san-sang-ma-737-
663151.htm> [Accessed 12 May 2020].