The finance manager’s main responsibilities are to procure and effectively utilize funds while considering the financial implications of all decisions. All decisions involving the management of funds fall under their jurisdiction. The finance manager must manage funds to optimize utilization and ensure that procurement is balanced in terms of risk, cost, and control. The accountant’s
The term financial management has emerged from the generic discipline of management. In order to understand financial management, it is better to start with an understanding the term management. Management, simply put, is all about securing the optimal use of the resources at the disposal of the firm towards the attainment of some predetermined goals.
The academic discipline of financial management may be viewed in terms of various specialized fields. In each field, the financial manager is dealing with the management of money and claims against money. Distinctions arise because different organizations pursue different ‘Objectives and do not face the same basic set of problems. Field of Finance These are
What is Financial? Finance is defined as the provision of money at the time when it is required. Every enterprise, whether big, medium, or small, needs finance to carry on its operations and to achieve its target. In fact, finance is so indispensable today that it is rightly said to be the blood of an