“Financial management is the activity concerned with planning, raising, controlling and administering of funds used in the business.” – Guthman and Dougal “Financial management is that area of business management devoted to a judicious use of capital and a careful selection of the source of capital in order to enable a spending unit to move in the direction of reaching the goals.”
Through this implementation, DOJ gains a single enterprise resource planning (ERP) system to manage information across all DOJ components. Specifically, UFMS streamlines and standardizes business processes and procedures across all DOJ components, providing secure, accurate, timely, and actionable financial data to management personnel.
Estimation of Capital Requirement Procurement and Allocation of Funds Distributing the Surplus Determining the Structure of Capital Maintaining Financial Control
What Are The Primary Objectives Of Financial Management? Profit Maximization. The basic objective of financial management is to achieve optimal profit, both in the short and long run. Proper Mobilization. Effective mobilization is one of the most important objectives of financial function. ... Improved Efficiency. ... Business Survival. ... Balanced Structure. ...
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