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Objectives of Global Financial Management in Singapore

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Smart Union

Global financial management in Singapore aims to enhance the enterprise’s value and profitability locally and in other countries where that business is legally operating. It's essential for organisations based in the UAE and Singapore to ensure adequate record-keeping and maintenance of all financial activities, such as transaction documents, bank statements, receipts, and income sources.

 

Companies that offer accounting services for these organisations also provide global financial management to help enterprises effectively communicate financial information and measure processes. That way, they can help your organisation fulfil these objectives:

 

·        Compliance

 

Your organisation is required to keep and manage records of every financial activity. The ACRA and IRAS have established regulations for ensuring proper global financial management in Singapore. Following these regulations secures lawful and ethical global financial management systems.Keeping records also makes it easier for your organisation to make claims when necessary and prove its track record of flawless operations.

 

·        Transparency

 

Global financial management calls for the right talent and skill to ensure a seamless and transparent record-keeping process. When you have honest and reliable financial data, you can make informed business decisions regarding the usage of enterprise funds.

 

·        Profitability

 

Global financial management in Singapore can ensure an adequate and consistent flow of funds to your enterprise and establish the best capital structure to balance equity and debt. It also helps you make smart financial decisions when investing funds, so you can balance risks and returns.

 

·        Ensure liquidity

 

Short-term liquidity means that the enterprise is operating efficiently. That’s because unless your company fulfils its immediate financial obligations, the business cannot continue. Effective global financial management helps you analyse the current ratio to measure liquidity and determine what to do if that ratio goes down.

 

·        Improve solvency

 

Solvency is your company’s ability to fulfil its long-term financial obligation and is measured by your debt-to-equity ratio. A very high ratio indicates risk.

 

Financial management applies the general principles for managing a business organisation’s financial resources. It encompasses organising, planning, controlling, and monitoring the enterprise’s financial resources; while ensuring that corporate decision-making corresponds with business strategy. Proper global financial management in Singapore will help your organisation grow and thrive; while avoiding violations and penalties from the ACRA and IRAS.

 

 

About the author:


Name: Garry Taylor

 

Garry is a corporate financial management and corporate governance professional. He has extensive experience across extractive industries, manufacturing and international trade, in the listed, private and non-profit sectors. Garry is a member of CPA Australia and the Institute of Singapore Chartered Accountants; a fellow of the Chartered Institute of Secretaries, and a graduate of the University of Western Australia’s Executive MBA program.


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