Abstract
This study was carried out with a view of assessment of financial management as a tool for control in public sector. With special reference to ministry of finance, Borno State and to suggest on how to alleviate them. These included: (1) lack of good records keeping. (2) Mismanagement of funds and, (3) centralization of meaning financial resources in the execution of the ministry among other things: the reviewed was the review of related literature. The related was management, public sector, financial control, characteristics of financial control result in key areas, objective of financial control, and import of financial control and financial management. Following importance description of method of data collection, one hundred (100) management staff were issued to them. Some expected validity of the instrument use for the research work were personal interview. Similarly, the presentation of the various information received from the respondents were been tabulated and shown. There are various discussions in the outcome of the summary, conclusion and observed recommendations based on the outcome of the research work to the case study and of course, the acknowledgment of the various past writers used.
Highlights
Financial management means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds of the enterprise
“Management is concerned with creating and maintaining environment in which people can accomplish goals efficiently and effectively control in management is the process of ensuring that action is achieved with desired goals or result while financial management comprises the forecasting planning, organizing, directing, coordinating and controlling of all activities relating to the acquisition and application of the financial resources of an undertaking in keeping with its financial objectives
Since financial management is in assurance process it include the process of decision making, it covers the entire process of monetary action emanating from the decision, it covers the part of financial management, it is from part of planning, budgeting, accounting report and review
Summary
Financial management means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds of the enterprise. It means applying general management principles to financial resources of the enterprise The management of the finance of a business or organization in order to achieve financial objectives. The increasing specialization within the organization of an individual business has become essential. We are concerned with one fact of this specialization, part of the administrative function of accounting. Modern idiom has retitled it management a ccounting but this makes one wonder whether it means accounting for management and the action they taken or accounting management; whichever both are true, but for it to operate successfully
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