Financial Management | definition, concept

Financial Management | definition, concept

Financial Management :-

Financial management is the process of planning, organizing, and controlling an organization's financial resources to achieve its goals and objectives.

It involves:

1. Planning :- Setting financial goals and objectives.

2. Organizing :- Allocating financial resources to achieve goals.

3. Controlling :- Monitoring and review financial performance.

Financial management includes activities such as :-

- Budgeting and forecasting
- Financial reporting and analysis
- Funding and financing
- Risk management
- Investment decisions

Effective financial management helps organizations :-

- Achieve their goals and objectives
- Maximize profits and returns
- Minimize risks and losses
- Make informed financial decisions
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