Business Financing

Jun 27th, 2015
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Abraham Lincoln University
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According to Soloman, “Financial management is concerned with the efficient use of economic resources”. According to Phillippatus, “Financial management is concerned with management decision that result in acquisition and financing of long-term and short-term credits for the firm”.

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Financial ManagementFinancial management is mainly concerned with theproper management of funds. The finance managermust see that funds are procured in such a manner thatrisk, cost and control considerations are properlybalanced and there is optimum utilization of funds.According to Soloman, Financialmanagement is concerned with theefficient use of economic resources.According to Phillippatus, Financialmanagement is concerned withmanagement decision that result inacquisition and financing of long-termand short-term credits for the firm.Objectives of Financial ManagementBasic Objectives Other ObjectivesBasic Objectives: The basic objectives are Profit Maximisation Maintenance of liquid assets Wealth MaximisationOther ObjectivesEnsuring a fair return to shareholdersBuilding up reserves for growth andexpansionEnsuring maximum operational efficiency byefficient and effective utilization of finances.Ensuring financial discipline in theorganizationScope of Financial ManagementEstimating financial requirementDeciding capital structureSelecting a source of financeSelecting a pattern of InvestmentProper cash managementImplementing financial controlsProper use of surplusesNeed of Financial Management orFinancial DecisionsFinancing DecisionsInvestment DecisionsDividend DecisionsFunctional Areas of FinancialManagement

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