Responsibilities of Financial Management 1.

Maintain day-to-day financial control of the service within budget heads agreed by the trustee board. 2. Ensure that all finances are properly administered and monitored, including credit control. 3. Advise on the proper allocation of resources. Disadvantages of Sole Trader 1. Developing the business is also limited by the amount of capital personally available. 2. There is also the risk of unlimited liability, where the sole trader can be forced to sell personal assets to cover any business debts. Advantages of a corporation 1. Ownership is readily transferable. 2. Separate legal existence. 3. The ability of the corporation to draw on the expertise and skills of more than one individual What is social responsibility ? Being Socially Responsible means that people and organisations must behave ethically and with sensitivity toward social, cultural, economic and environmental issues. Striving for social responsibility helps individuals, organisations and governments have a positive impact on development, business and society with a positive contribution to bottom-line results.