Functions of Financial Management:

Question 1

involves the development of financial goals, objectives, and strategies that align with the organization’s overall strategic plan.

Answer 1

Financial Planning

Question 2

involves the development of a detailed financial plan that outlines the organization’s anticipated income, expenses, and capital expenditures over a specific period.

Answer 2

Budgeting

Question 3

involves the interpretation and evaluation of financial data to assess the organization’s financial performance, identify trends, and make informed decisions about resource allocation.

Answer 3

Financial Analysis

Question 4

involves the procurement of financial resources required to achieve the organization’s financial goals.

Answer 4

Financing

Question 5

involve the allocation of financial resources to various projects or investments to generate returns.

Answer 5

Investment Decisions

Question 6

involves the identification, assessment, and mitigation of financial risks to the organization.

Answer 6

Risk Management

Question 7

involves the preparation and dissemination of financial information to stakeholders.

Answer 7

Financial Reporting