Respond to EACH these two post in your own words
1.Financial Management
Financial managing includes overall budget plans for a company. An important aspect of Financial Management involves the Office of Management and Budget (OMB), which is responsible for submitting strategic plans related to program activities, as well as yearly performance plans to line up with associated budgets (Nigro, 2007).
How does financial management play a significant role in planning for tactical and operational endeavors?
In order for organizations to effectively carry out their core mission of safeguarding the public, organizations must ensure that they have the necessary financial resources at hand. This requires the application of sound and effective financial management practices (Prof et al., 2022). The necessary financial resources ensures needs are met in disaster incidents.
References
Nigro, F. (2007). The New Public Personnel Administration. Wadsworth.
Prof S., Megha S., & Bhar, M. (2022). Financial Management. Research Gate. https://www.researchgate.net/publication/371912316_Financial_Management/citation/download
2. The Emergency Management Plan (EMP) for Financial Management is a vital tool for managing resources effectively during emergencies. It outlines the procedures for allocating funds through Budget, Procurement, Fiscal Program Management, Financial Grants Management, and Disbursements. Financial management plays a crucial role in planning for tactical and operational endeavors, as it facilitates efficient resource allocation, cost estimation, expense monitoring, contract, and vendor management, and maintains documentation and compliance reporting for transparency. This comprehensive approach ensures that resources are utilized judiciously to support emergency operations, promote financial stability, and optimize effectiveness in response and recovery endeavors.
In essence, financial management ensures that the available budget is used wisely and efficiently. For example, let’s consider a fire station with a two-million-dollar budget. Spending 1.5 million dollars on a fancy fire truck and leaving insufficient funds to maintain other essential equipment would not be in the station’s best interest. Proper financial management ensures that the budget is distributed appropriately and that all necessary equipment is up-to-date.
Reference
Disaster Financial Management Guide. (n.d.). https://www.fema.gov/sites/default/files/2020-07/disaster-financial-management-guide.pdf Links to an external site.
- WE OFFER THE BEST CUSTOM PAPER WRITING SERVICES. WE HAVE DONE THIS QUESTION BEFORE, WE CAN ALSO DO IT FOR YOU.
- Assignment status: Already Solved By Our Experts
- (USA, AUS, UK & CA PhD. Writers)
- CLICK HERE TO GET A PROFESSIONAL WRITER TO WORK ON THIS PAPER AND OTHER SIMILAR PAPERS, GET A NON PLAGIARIZED PAPER FROM OUR EXPERTS
QUALITY: 100% ORIGINAL PAPER – NO ChatGPT.NO PLAGIARISM – CUSTOM PAPER
Looking for unparalleled custom paper writing services? Our team of experienced professionals at AcademicWritersBay.com is here to provide you with top-notch assistance that caters to your unique needs.
We understand the importance of producing original, high-quality papers that reflect your personal voice and meet the rigorous standards of academia. That’s why we assure you that our work is completely plagiarism-free—we craft bespoke solutions tailored exclusively for you.
Why Choose AcademicWritersBay.com?
- Our papers are 100% original, custom-written from scratch.
- We’re here to support you around the clock, any day of the year.
- You’ll find our prices competitive and reasonable.
- We handle papers across all subjects, regardless of urgency or difficulty.
- Need a paper urgently? We can deliver within 6 hours!
- Relax with our on-time delivery commitment.
- We offer money-back and privacy guarantees to ensure your satisfaction and confidentiality.
- Benefit from unlimited amendments upon request to get the paper you envisioned.
- We pledge our dedication to meeting your expectations and achieving the grade you deserve.
Our Process: Getting started with us is as simple as can be. Here’s how to do it:
- Click on the “Place Your Order” tab at the top or the “Order Now” button at the bottom. You’ll be directed to our order form.
- Provide the specifics of your paper in the “PAPER DETAILS” section.
- Select your academic level, the deadline, and the required number of pages.
- Click on “CREATE ACCOUNT & SIGN IN” to provide your registration details, then “PROCEED TO CHECKOUT.”
- Follow the simple payment instructions and soon, our writers will be hard at work on your paper.
AcademicWritersBay.com is dedicated to expediting the writing process without compromising on quality. Our roster of writers boasts individuals with advanced degrees—Masters and PhDs—in a myriad of disciplines, ensuring that no matter the complexity or field of your assignment, we have the expertise to tackle it with finesse. Our quick turnover doesn’t mean rushed work; it means efficiency and priority handling, ensuring your deadlines are met with the excellence your academics demand.
