What is financial management?

Financial management refers to the process of planning, controlling, and monitoring an organization's financial resources. It involves analyzing the company's financial information to make decisions that will maximize profits and minimize costs. Financial management ensures that the organization has the necessary funds to carry out its operations and achieve its goals. This involves budgeting, forecasting, financial statement analysis, risk management, and investment analysis. Effective financial management is essential for long-term sustainability and growth of any business.

This mind map was published on 16 May 2023 and has been viewed 76 times.