profit-loss account 32

May 13th, 2015
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Abraham Lincoln University
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profit and loss statement describe objective of profit maximization vs wealth maximization

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Q.1 Discuss the objective of profit maximization vs wealth maximization.The financial management come a long way by shifting its focus from traditionalapproach to modernapproach. The modern approach focuses on wealth maximization ratherthanprofit maximization.Thisgives a longer term horizon for assessment, making way forsustainable performance by businesses.A myopic person or business is mostly concerned aboutshort term benefits. A short term horizon canfulfill objective of earning profit but may not helpin creating wealth. It is because wealth creation needsa longer term horizon The

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