Financial Management Essay: Energy Policy
-
Tamara Team
- November 30, 2022
Home » Sample Essays & Research Papers » Financial Management Essay: Energy Policy
Financial Management and Energy Policies
Financial Management Essay: Introduction
Financial management is essential for federal policies or programs because financial management’s primary focus is to evaluate the sources and prepare financial reports. In this sense, and more specifically, this paper is focused on analyzing the energy policy and its relation to financial management. Firstly, the energy policy of the United States addresses issues of energy production, distribution, and consumption, such as building codes and gas mileage standards (“Wikimedia,” 2020). Also, energy policy’s responsibility is managing energy sources and organizing these sources’ continuity. Secondly, energy policies are liable for finding reproducible sources for the United States of America. One can infer that energy policies management is highly related to financial management because financial reports provide analyzing financial numbers in order to make investments for reasonable areas.
Body Paragraphs
Financial management’s strengths are managing all costs and proving efficient investments. Also, financial management’s strengths include financial accounting, financial planning, and financial strategy. More specifically, financial management provides all numbers, organizes cash flow; specifically, financial management tends to direct costs and spends. In this sense, capital budgeting is an essential variable for financial management because it provides to make decent investment decisions. In other words, the financial decision is related to making investments on new sources or raising finance from various sources of the policy.
Weaknesses in financial management controls have clear causes and remedies. It only has to identify the problem areas, determine why these controls are not adequate and apply the corresponding corrective action (Markgraf, 2016). In other words, financial management’s weaknesses are not providing solutions for the problems; specifically, it merely determines areas that have problems in the policies. In this sense, inefficient areas in the policy can be seen in the financial reports, but it cannot be solved by financial reports, and biggest weakness in financial management is not providing solutions for the inefficient areas, and problems.
Expenditure management is a part of financial management, and expenditure management involves all the procedures are necessary to ensure that the payments of sums owed by the department are controlled in an efficient, effective and timely manner. The main focuses of expenditure management are processing invoice payments from necessary sources of the department, and managing the relationships between the department’s payroll and accounting system. In other words, expenditure management is responsible for managing spending and payments in the most efficient way. Also, expenditure management provides efficiency and effectiveness in financial management.
Conclusion
To sum up, energy policy is liable for managing all energy sources and providing security in energy sources for the United States. Also, energy policies are liable for finding and managing reproducible sources. More specifically, energy policies manage all energy sources and provide employment opportunities. In this sense, financial relations in energy management provides investment areas and preparing financial management reports for energy policy. In other words, these financial reports include energy policy’s revenue and cost reports in order to provide energy policy to see current costs and revenue. Also, another improvement suggestion for energy policy should focus on combining expenditure management and financial management in order to see the most efficient numbers in its current reports. Eventually, energy policies have already made their investments on reproducible sources or new sources. Therefore, energy policy’s financial management is adequate for improving, and it should aim to be more effective in future.
References
Markgraf, B. (2016, October 26). Weakness in Financial Management Internal Controls.
Wikimedia Foundation. (2020, June 20). The public policy of the United States. Wikipedia.
Contents
Recently on Tamara Blog
Myself as a Writer Essay
Discover the passion and purpose behind a writer’s journey in the ‘Myself as a Writer Essay.’ Explore writing as an escape, therapy, and tool for impact.
Essay about Failure
This essay about failure explores the concept of failure as a natural and inevitable part of life and how it can be an opportunity for growth and learning.
Why Dogs Are better than Cats Essay
Explore the benefits of a dog in this why dogs are better than cats essay, including loyalty, versatility, health benefits, companionship, and entertainment.
Procrastination Essay
This procrastination essay explores the causes, impact, and strategies for overcoming it. Learn about the factors such as lack of motivation and more.
Essay on George Washington
Explore the life, leadership qualities, impact, and legacy of the first President of the United States with this comprehensive essay on George Washington.
Essay about Nursing Profession
In this comprehensive essay about nursing profession, learn about their role, training, specializations, challenges, rewards, and the future of nursing.