Insurance and finance are closely interwoven fields of business, not least because they both involve money. Investment management: risk and profit analysis, risk aversion, terms, types of investments, portfolio diversification. With their skill, luck, careful planning and good management; they have turned many businesses into profitable ones. A second reason that public finance is interesting is that in many countries what people are being held to account for is also changing. Risk managers control financial risk by using strategies to limit or offset the probability of a financial loss or a company’s exposure to financial uncertainty. This is determined by the extent to which public financial management of local government administration has impact on effective and judicious use of public financial resources in Bayelsa state. Proper distribution of finance to all the departments will increase the efficiency of the entire company. To meet this objective, the Financial Action Task Force has published 49 recommendations.
Each of these processes, including financial management itself, should incorporate subprocesses and techniques, including management, forecasting, strategic planning, planning and budgeting, procurement, disbursements, control, and communications (The African Development Bank Group’s Guidelines for Financial Management and Financial Analysis of Projects, 2002).
Sound public financial management supports aggregate control, prioritization, accountability and efficiency in the management of public resources and delivery of services, which are critical to the achievement of public policy objectives, including achievement of the Millennium Development Goals (PEFA Steering Committee, 2004).
Until recently, control” has been viewed as a system of ex ante financial and compliance controls that generally are operated by a central government agency, usually the Ministry of Finance. An efficient finance function helps identify and deliver specific improvements in order to unlock value and resources thus freeing up time for improved decision support activities. This is evidenced by the findings that to a slight extent local government financial management have impacts on effective and judicious use of public financial resources in Bayelsa state. What we try to show is that there are approaches to financial management that can be tailored to the approach to management and governance that governments have adopted. The finance manager must estimate the total financial requirements of the company. And, 28{606b15cb8282e5ec3580d0e72c193589ece6551be175750a8e347f0d91362e12} indicate to a slight extent of local government public financial management performance.
In the last decade of so, there has been a growing interest in the quality of public sector financial management in developing countries. Deciding additional finance : Sometimes, a company needs additional finance for modernization, expansion, diversification, etc. The success of an enterprise depends on the effective management of capital invested by shareholders and a proper corporate governance framework.
