significance of financial management in business management
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Financial management refers to the strategic planning, organising, directing, and controlling of financial undertakings in an organisation or an institute. It also includes applying management principles to the financial assets of an organisation, while also playing an important part in fiscal management
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The main duty of a financial manager is to measure organisational efficiency through proper allocation, acquisition and management. ... It helps business firm to take financial decisions. It prepares guideline for earning maximum profits with minimum cost. It increases shareholders' wealth.
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