FINANCIAL MANAGEMENT – AN OVERVIEW

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<h1>Financial Management</h1>

<h4>by kishorright | studymode.com</h4>

FINANCIAL MANAGEMENT – AN OVERVIEW

Unit structure:

1. Introduction

2. Learning objectives

3. Section title

Meaning

Definition

Objective

Advantages of wealth maximization

Criticisms of wealth maximization

Scope & Functions of Financial Management

Role and function of the finance manager

Financial Management and Economic

Financial management and Accounting

Evolution of financial management

Functional areas of financial management

Financial decisions

Have you understood questions

Summary

Exercises

References

Financial Management - AV OVERVIEW

Meaning - Objectives of Financial

Management- ‘A’s of Financial Management - Scope and

Functions of Financial Management - Role and Functions of the

Financial Manager - Financial Management and Economics –

Financial Management and Accounting - Evolution of Financial

Management – Functional Areas Financial Management -

Financial Decisions - Financial requirement decisions -

Investment decision - Financing decision - Dividend decisions

Problems - Review Questions and Quiz. 1. INTRODUCTION

Financial management is an appendage of

the finance function. We have already discussed the finance

function and its significance. With the creation of a complex

industrial structure, this function has grown so much that is has

given birth to a separate subject — Financial Management -

which is today recognized as the most important branch of

business administration. One cannot think of any business act in

isolation from its financial implications. The management may

accept or reject a business proposition on the basis of its

financial viabilities. In other words, financial considerations

reign supreme particularly for line executives who are directly

involved in the decision-making process. In this connection,

Howard and Upton observe: “Financial management involves

the application of general management principles to a particular

financial operation”. 2. LEARING OBJECTIVES

On going through this lesson, you will be conversant with

• The meaning of finance & financial management

• The objectives of financial management

• Advantages & criticisms on the objective of

financial management • Scope and functions of finance

manager

• Finance and other related subjects

• The Functional areas of financial management

• The process of financial management

• The process of financial decisions

3.1 MEANING

Financial management is that part

of management which is concerned mainly with raising funds in the

most economic arid suitable manner; using these funds as

profitably (for a given risk level) as possible; planning future

operations; and controlling current performances and future

developments through financial accounting, cost accounting,

budgeting, statistics and other means. It guides investment where

opportunity is the greatest, producing relatively uniform

yardsticks for judging most of firm’s operations and

projects, and is continually concerned with achieving an adequate

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html, body { font-family: 'Open Sans', Arial; font-size: 11pt; line-height: 16pt; } @page { size: auto; margin: 25mm 25mm 25mm 25mm; } span.tab { width: 2em; height: 10px; display: inline-block; } h1 { font-weight: 400; padding: 0px; margin: 0 0 30px 0; } h4 { font-weight: 400; font-style: italic; padding: 0 0 15px 0; margin: 0 0 30px 0; border-bottom: 1px solid black; } Financial Management by kishorright | studymode.com FINANCIAL MANAGEMENT – AN OVERVIEW Unit structure: 1. Introduction 2. Learning objectives 3. Section title Meaning Definition Objective Advantages of wealth maximization Criticisms of wealth maximization Scope & Functions of Financial Management Role and function of the finance manager Financial Management and Economic Financial management and Accounting Evolution of financial management Functional areas of financial management Financial decisions Have you understood questions Summary Exercises References Financial Management - AV OVERVIEW Meaning - Objectives of Financial Management- ‘A’s of ...
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