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Financial management is about controlling the flow of money in and out of the organization. Every business needs to sell products or services, pay expenses, balance the books, and file taxes.
The characteristics of financial management:
The characteristics of financial management:
Manages all the financial resources.
It is a continuous function.
Proper utilisation of the funds.
Maintains balance between risk and profitability.
Facilitates cost control.
Involves analytical thinking.
Coordination between the various processes.
Financial management is the business function concerned with profitability, expenses, cash and credit. These are often grouped together under the rubric of maximizing the value of the firm for stockholders.
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