Write a bunt the importance and characteristics of financial management
Answers
Financial management is the activity concerned with planning, raising, controlling and administering of funds used in the business.” – Guthman and Dougal
“Financial management is that area of business management devoted to a judicious use of capital and a careful selection of the source of capital in order to enable a spending unit to move in the direction of reaching the goals.” – J.F. Brandley
“Financial management is the operational activity of a business that is responsible for obtaining and effectively utilizing the funds necessary for efficient operations.”- Massie
Nature, Significance, and Scope of Financial Management
Financial management is an organic function of any business. Any organization needs finances to obtain physical resources, carry out the production activities and other business operations, pay compensation to the suppliers, etc. There are many theories around financial management: