Financial Management means the collection of finance for an organization at a low cost and using it for incurring maximum profits. It is a process where one needs to plan and control the company’s finance for achieving its planned objectives.
Definition
Howard and Apon have defined financial management as the process of planning and controlling functions to finance the company’s function.
Joseph and Massie have defined financial management as the company’s operational activity for efficient utilization of the funds which is essential for smooth operations.
Financial Management: Characteristics
The characteristics of financial management are as follows-
Objectives of Financial Management
Why is it important?
No matter how small or large a business organization is, adequate finance is a must. It is only it manages capital sufficiently can it aim for expansion and survival in the business.
Importance of financial management are-
Links of Previous Main Topic:-
Links of Next Finance Topics:-