Financial Management is efficient use of the assets and funding resoures of an organization and ensures transparency and accountabity. Attract funding and partnerships: A financially-stressed nonprofit which lacks a sound financial management to ensure transparency and accountability may face problems in attracting continuous funding and long-term partnerships. A sound, professional and credible financial system and enable nonprofits to attract funding. Enhance decision-making: It is important that nonprofit leaders and managers understand the principles and techniques in financial management and integrate them with managerial decision-making or have staff that is knowledgeable in this area.   Basic Guide to Non-Profit Financial Management Free Management Library Nonprofit Sector Accounting: Issues and Recommendation Asia Pacific Philanthropy Consortium Accounting Guide for Nonprofits Asia Pacific Philanthropy Consortium <more...>   Assure stakeholders that every donated dollar to the nonprofit is well spent. Ensure integrity with processes that are done according to certain financial controls. Reduce risks by operating with an informed team on the accounting responsiblities and requirements a nonprofit must abide by. Good financial management such as generating good reports give the relevant information to the right people at the right time so that they can make sound business decisions.   Assess your current financial management system and provide advice on how to enhance it. Advise on how to manage the operating budget, credits and collections.  Provide basic tools,  training and advice on financial management, such as generating financial statement and annual reports, book-keeping and inventory management.
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