Abstract
Competence, capability and capacity in financial management are crucial for the success of all commercial organizations. Financial literacy is required of most if not all of the significant decision makers within organizations, no matter what their official status might be, if those organizations are to function effectively. Traditionally, developing this literacy has been seen as just another training issue on the agenda for the company's training department. This paper will argue that financial literacy is so important to organizations that financial management education and training should be seen more as part of the financial management control system of the organization than as a self development issue. Directors of finance need to become involved in the financial education and training process, particularly at a strategic level, so as to ensure that the company's competence, capability and capacity in financial management are appropriate to the pace and direction of company development.
Published Version
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