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Somaliland Development Fund Phase 2 (SDF2)Financial Management and Accounting Manual March 2019Contents ChapterTitlePageList of Abbreviations11. Introduction21.1Somaliland Development Fund ___ 21.2Objective
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What is financial management and accounting?
Financial management involves planning, organizing, and controlling a company's financial resources. Accounting, on the other hand, focuses on recording and reporting financial transactions.
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The main purpose of financial management and accounting is to track the financial health of a business, make informed financial decisions, and comply with financial regulations.
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Financial management and accounting records must include details of income, expenses, assets, liabilities, and equity.
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