Financial
Management
In
a business, the management of finance in order to achieve the financial
objectives is known as financial management. The main objectives of the
financial management are generating cash and provide an adequate return on
investment keep in mind the risks in the business. Financial Management has
three elements which are as under:
1. Financial Planning
In this case, management requires the exact information of cash in hand
for further investment.
Professionals have to make short and long term planning for the
enhancement of business.
2. Financial Control
Through Financial Control, managers can
achieve the business objectives.
3. Financial
Decision-making
The last element in financial management is Financial Decision-making.
Professionals have to
take steps
in investment, financing and dividends.
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