What is financial management?
Financial management involves planning, organising, and controlling a business’s financial resources. It covers how money is earned, spent, and invested.
Why is financial management important?
Effective financial management ensures that a business remains profitable and solvent. It supports decision making, investment planning, and risk control.
What activities are included in financial management?
Activities include budgeting, forecasting, cash flow management, investment analysis, and financial reporting.
How does financial management support growth?
It helps allocate resources efficiently and identify opportunities for expansion while managing financial risk.
What tools support financial management?
Businesses use accounting software, financial reports, and forecasting tools to manage finances effectively.