Financial MANAGEMENT Flashcards
Is the strategic planning, organizing, directing and controlling undertakings with organization or individual. It is essentially about making sound financial decisions to achieve specific goals.
Financial Management
It is the art of managing money.
Financial Management
Setting financial objectives, creating budgets, and forecasting future performance
Planning
Establishing financial structure and systems to support the organisations goals.
Organizing
Overseeing financial operations and making day-to-day decisions.
Directing
Monitoring financial performance l, analyzing, financial data and taking corrective actions
Controlling
Increasing profitability for shareholders.
Profit Maximization
Growing the overall value of the organization
Wealth Maximization
Optimising the use of funds
Efficient Resource
Protecting the organization’s financial health
Risk management
Ensuring sufficient cash flow to meet obligations
Liquidity Management
Provides financial information to support informed decisions
Decision Making
