Financial management consists of all activities concerned with obtaining money and using it effectively.
Financial management is a crucial component of both commercial and noncommercial activities since it helps to determine how best to get and use funds in a successful way. In the past, accountancy included the topic of financial management using conventional methods.
In order for the "organization to have the means to carry out its aim as satisfactorily as feasible," which is sometimes defined as maximizing the value of the company for investors, financial management is the business function that deals with profitability, expenses, cash, and credit.
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