Financial Management Introduction, FM Articles, Case Studies, Financial Management Notes, Examples
There are many advantages of accounting and we will discuss that in this article. Accounting is viewed as the language of business, and therefore it offers several advantages to management. Accounting demands recording transactions and compiling them in reports. Correct accounting is essential for the success of a business.
Accounting helps the management to achieve several objectives. This article discusses about the main objectives of accounting. Some important objectives are: to keep accounting records, ascertain the profit or loss, calculate the financial position, communicate the accounting information, prove credit worthiness, aid logical decision making, efficiently wtilize the resources
Financial manager is an important position within the structure of any firm. A financial manager is responsible for providing financial advice and support to clients and colleagues to enable them to make sound business decisions. Financial managers oversee the preparation of financial reports, execute cash management strategies, and direct a corporation’s investment activities. Financial Manager …
The relationship between financial management and other functional areas can be defined as follows: 1. Financial Management and Production Department: The financial management and the production department are interrelated. The production department of any firm is concerned with the production cycle, skilled and unskilled labour, storage of finished goods, capacity utilisation, etc. and the cost …
Financial management is broadly concerned with the acquisition and use of funds by a business firm. In other words, FM is planning, directing, monitoring, organizing, and controlling of the monetary resources of an organization. FM scope may be defined in terms of the following questions: 1. How large should the firm be and how fast …
Financial management is defined as the management of flow of funds in a firm and it deals with financial decision making of the firm. Financial management includes any decision made by an investor that affects his finances. In financial management the emphasis is laid on optimum utilization of funds. Financial management is important to all …