Basically, administration is a form of activity or effort carried out to assist, regulate, or serve activities so that they can be achieved in accordance with their goals. This is of course very much needed by the company so that all its interests can be managed properly.
Understanding administration can also be interpreted as a form of activity carried out by a group of people with several stages regularly and led more effectively and efficiently using the right means in order to achieve the goals that have been previously set together. In the process, the administration will develop its work and functions.
In general, it can be interpreted that administrative activities can only be carried out if the interested person is able to carry out the administrative activities themselves.
If the implementation can be done more quickly, then of course it will be more profitable for the company. One of the important keys so that administrative work can be carried out properly, then everyone in it must be able to cooperate properly in accordance with their respective responsibilities.
If you don’t do this, then the entire process that is running will be hampered and become an obstacle, so it can’t run smoothly.
In this modern and all-digital era, administrative work principles will greatly assist the entire company development process. This is very useful in order to be able to drive various company operational activities.
In addition, the company must understand the system and organization as a whole so that its business can develop according to what is expected. What’s more, finance is one of the important components in any business.
Definition Financial Administration in a Broad and Narrow Meaning
The following is a broad and narrow definition of financial administration:
- In Broad Meaning
Financial administration in a broad sense is a guideline that is closely related to the use and implementation of existing funds within an organization to produce organizational activities. This includes managing finances which consists of planning, regulation, accountability, and financial supervision.
- In the Narrow Meaning
Financial administration in a narrow sense includes all activities related to recording, data collection, and expenditures for funding various company operational activities in the form of financial management and accounting.
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