The term “financial control” covers all measures of coordination among a company’s finance department, as well as between the finance department and management. The strict separation between controlling and accounting is often inappropriate, as many financial specialists do not appreciate relevant information, if they are unaware of its origin, or the way it has been acquired. Furthermore, financial control aims to sustain the company’s solvency and to maximize shareholder value.
The goals profitability and liquidity are at the core of financial control. Liquidity is a necessity for a company’s existence. Hence, creditworthiness and solvency are fundamental issues to be addressed by the financial controller. To ensure profitability an effective use of available financial resources is vital. In this light, the task of financial control is to comply with the capital market’s perceptions. To achieve the aforementioned goals, that is to generate a risk adequate increase in shareholder value while assuring the company’s solvency, methods of financial planning and financial control, as well as methods for processing relevant information are used.
Our educational mission is to equip our students with the relevant methods of financial control and to promote independent thinking and problem-solving. This creates the foundation for life-long learning as a trained graduate.