What is financial management?

[Reedex]

It is pertinent for all business owners to be able to estimate the money that goes out and the one that comes into the busines. A simple calculation of profit and losses is essential and this could be a phenomenal to the financial management of the company.

 

[Springtime]

Financial management involves Financial planning and forecasting; Budgeting; Cashflow management and Analyzing the financial status of the business from time to time.

 

[cherry123]

financial management is having the ability to control your cash flow to have a positive outcome.

 

[riberet19]

This is simply managing the budget of a business, both reinvestment and internal/external expenses of the business in question. Good budget management is essential for the growth and stability of this business.

 

[Shavkat]

It is one of the part of feasibility studies. We need this to be conducted to determine if the company is gaining profit or not.

 

[Reedex]

Financial management involves Financial planning and forecasting; Budgeting; Cashflow management and Analyzing the financial status of the business from time to time.

You have raised a very good point because the financials of the company must be properly tracked in order to ensure effectiveness of business activities.

 

[eldavis]

Financial management has to do with the process of planning and organizing everything that has to do with finance to make sure that you do not over spend or misuse it.

 

[Stardom22]

Financial management refers to the planning, organising, and controlling of of the financial activities such as the procurement and utilization of the business funds. If handled well it can protect the business funds from being misused

 

[Yohanna]

Financial management is the ability to manage the finances of a business or individual effectively.

 

[Stardom22]

You are very right here. This is an ability to do all the planning, organising and controlling all the business financial activities and making sure all goes smoothly and the running of the business. This is not a joke.

 

[Bisolami]

It is pertinent for all business owners to be able to estimate the money that goes out and the one that comes into the busines. A simple calculation of profit and losses is essential and this could be a phenomenal to the financial management of the company.

I think a lot of people are always happy about their profit and they forget to calculate loss.

 

[uptrendfinancialsignal]

Financial management has a lot to do with your ability to manage your financials.

 

[arunima]

Financial management be it for business or for your personal finance is and important skill. It is very much required to run a business or your personal financial life smoothly without running into financial debts and crisis. People or business have to be disciplined around their finances and budget.

 

[SHAHID987]

Financial management is like how can you manage your Finance, it will be manage very smoothly when you have sound knowledge about all the aspects of a business. You must know budgeting, forecasting, spending and saving.

 

[IB D]

Financial management is a situation where financial resources are tracked to know how they come in and go out. It is an important aspect of business management.