FINANCIAL MANAGEMENT

The term financial management consist of two words financial and management, the term financial means deal with the money. So financial management means the management of the matter that deal with the money is known as financial managment.Financial management entails planning for the future of a person or a business enterprise to ensure a positive cash flow. It includes the administration and maintenance of financial assets. Besides, financial management covers the process of identifying and managing risks.

The financial management deals with assets of the organization and the expenditure. So the term financial management is very important in today business. Without the financial management the assets cannot be handled so for handling of assets financial management is necessary. The necessary of the financial management is common in every field. The primary usage of this term is in the world of financing business activities. However, financial management is important at all levels of human existence because every entity needs to look after its finances.