Topic: How To Manage Your Finances Effectively and Efficiently For Your Personal Finance, Your Business and Your Organization 

There are eight pillars for effective and efficient financial management. They are: (1) Budgeting, (2) Double-Entry Book-Keeping, (3) Accounting, (4) Financial Statement Analysis, (5) Saving, (6) Credit Score Management, (7) Investing, and (8) Taxes, Insurance and Estate Planning.

In this talk, we will look at how to manage finances effectively and efficiently by using these eight pillars for your personal finance, your business, and your organization.

The first pillar, Budgeting, refers to creating a plan to spend one’s funds. The second pillar, Double-Entry Book-Keeping, is a robust system of recording financial transactions comprehensively and accurately in well organized ledgers, accounts and journals. It is a system with checks and balances to ensure data integrity and accuracy. The third pillar, Accounting, refers to the process of keeping financial accounts and financial statements, which are written records that convey business activities and the financial performance of a company. Financial statements are often audited by government agencies, accountants or firms to ensure accuracy and for tax, financing, or investing purposes. The fifth pillar, Saving, refers to depositing a portion of one’s income. Saving is deferred consumption. In regards to the sixth pillar, a credit score is a number that serves as a prediction of how likely an individual or entity is to pay a loan back on time based on the information from one’s credit reports. Credit score management refers to managing credit score factors, five of which are one’s payment history, total debt, usage of available credit, length of credit history, credit mix and new credit. The seventh pillar, Investing, refers to a commitment of finances and assets to generate more returns later. The eighth pillar, Taxes, Insurance and Estate Planning, refers to the good understanding and legal application of tax laws, protection against losses through insurance, and asset protection through estate planning. These are the eight pillars for effective and efficient financial management.

Mastering these eight pillars, both in theory and practice, is essential in managing finances effectively and efficiently.

Keynote Speaker:
Allan Anthony Rwabutaza, Ph.D.

Zoom Video Call (Information Sent to Members and Registered Guests):

Event’s Registration Deadline: 11:30 pm, Thursday, September 14, 2023.

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