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In simple terms, financial management can be defined as managing the finance(funds).Basically, it is related with acquisition and utilisation of the funds that is how funds have been acquired and whether these funds have been properly utilised or not .Financial management helps in achieving the objectives of the company like it helps in survival of the company,helps in growth of the company.Many companies get liguidated just because of the reason that they have not properly manage their finace.Moreover companies have scarce resources which needs to be utilised in such a manner which gives more return than the cost.So Financial management is the need of the day.
Financial management is very important for a newly formed company.When a company starts ,it requires a lot of funds which can be acquired from both long term sources and short term sources.These funds can be used in acquiring the assets.But the main concern is that these funds should be utilised in those resources which will give more return.So finacial management will help in giving all answers to these questions
by Pankaj Sharma February 04, 2008