Reduce the risk
The beginning of a effective risk management strategy is a good loss-prevention program. Fire drills, safety inspection, and equipment maintenance are good prevention programs to have.
Learn moreManaging Risk
Avoid the risk
Many risks cannot be avoided. Fire, theft and injury is always a risk, but some companies avoid risk by outsourcing business. The threat of lawsuits has driven away many companies from profitable business.
Learn moreSelf-insure against the risk
Many companies have turned to self-insurance because they either cannot find or afford the insurance. This lowers the cost of insurance and allows companies to insure only big losses.
Learn moreBuy insurance against the risk
Insurance is the armor individuals, businesses and organisations use to protect themselves from financial risk.
Learn moreManagerial accounting is used to provide information and analysis to
managers within the organisation to assist them in decision making.
Certified management account (CMA)
Financial accounting is used to provide information and analysis to
people outside the organisation.
Certified public accountant (CPA)
Financial auditors examine the health of the organisation and also looks into the operational efficiencies and effectiveness.
Certified internal auditor (CIA)
Financial Management
This is the process of managing the firm's resources so it can meet it's goals and objectives.
Capital Budget
Spending plans for major asset purchases
Cash Budget
Projected cash inflows and outflows
Operating Budget
Summarises the business's financial activities