Financial Management can be defined as:
The management of the finances of a buisiness/organisation in order to achieve financial objectives
Taking a commerical busienss as the msot common organisational structure, the key objectives of financial mamagement would be to:
*create wealth for the business
*generate cash, and
*provide an adequate returnon investment bearing in mind the risks that the business is taking and the resources invested
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Totally in sync with the key objective of financial management.
ReplyDeleteWould like to add on few others key that i found (for reference):
*Provide support for decision making.
*Ensure the availability relevant and reliable financial/non-financial information.
*Strengthen accountability.
*Comply with authorities and safeguard assets.