What is financial management and examples?
Financial management is concerned with the duties of the financial managers in the business form.
Finance is the art and science of managing money
Financial services are concerned with the design and delivery of advice and financial products to individual businesses and governments.
Financial managers actively manage the financial affairs of any type of business.
a. Financial and non-financial
b. Private and public
c. Large and small
d. Profit-seeking and not for profit.
Financial management is organized into six section
- Relationship of finance and related disciplines
- Scope of financial management
- The goal of financial management
- Agency problem
- Organization of the finance function
- The emerging role of finance managers in India
Is finance a part of economics?The financial management can be described in the light of the two broad areas of economics (a) Macroeconomics (b) microeconomics
Macroeconomics is concerned with the institutional structure of the banking system, money, and capital markets, financial intermediaries, monetary, credit and fiscal policies and economic policies dealing with and controlling the level of activity within the economy.
Microeconomics deals with the economic decisions of individuals and organizations.