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Financial management is the managerial activity which is concerned with planning and controlling of the firm's financial resources.
It is concerned with acquiring financing and managing assets to accomplish the overall goal of a business enterprise mainly maximization of shareholders wealth.
In today's world where positive cash flow is more important than book profit, financial management can also be defined as planning for the future of a business enterprise to ensure a positive cash flow.
Some experts also refer to financial management as the science of money management. Financial management compromises of forecasting, planning, organizing, directing, coordinating and controlling of all activities relating to acquisition and application of the financial resources of an undertaking in keeping with its financial objectives.
marto answered the question on March 4, 2019 at 09:43
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