Financial management has evolved over the last 50 years. The evolution of financial management is divided into three phases:
a) The traditional phase
In this phase, the day to day financial management was considered necessary only during occasional events such as takeovers, mergers, expansion, liquidation etc. It also under takes financial decisions in the organization and the needs of outsiders such as investment bankers.
b) The Transitional Phase
During this phase, the day to day problems that financial mangers faced were given importance. The general problems related to funds analysis, planning and control.
c) The Modern Phase
It is still going on, the scope of financial management greatly increased now to carrying out financial analysis for a company. During these phase, many theories have been developed regarding efficient markets, capital budgeting, optimum pricing etc.
marto answered the question on March 4, 2019 at 09:47
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