Define FMS. What types of systems are FMS systems. Name and define how 3 are used...
Define FMS. What types of systems are FMS systems. Name and define how 3 are used in industry.
Homework Answers
FMS stands for financial management system. They are one of the basic systems of an organization. They planning, arranging and manage the funds to facilitate operational activities and all the related activities in the organization. They are feedforward type of control system. The funds are first planned, then allocated on basis of forecast of strategies.
The FMS systems help strengthen the economy of the organization. Secondly, they ensure there is a positive cash flow in the organization. Also, FMS monitor the funds allocation and utilization such that they are properly utilized. Reducing wastages and eliminating any illegal activities or thefts.
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Define FMS. What types of systems are FMS systems. Name and
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