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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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Monitor and track financial performance regularly to make informed business decisions.

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Financial management involves planning, organizing, and controlling a company's financial resources. Accounting, on the other hand, focuses on recording and reporting financial transactions.
All businesses, organizations, and individuals who engage in financial transactions are required to maintain financial management and accounting records.
Financial management and accounting records can be filled out manually or using accounting software. It is important to accurately record all financial transactions and maintain organized records.
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.
Financial management and accounting records must include details of income, expenses, assets, liabilities, and equity.
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