The importance of financial management can be described as management that mainly concerns with money. This aids in systematizing money in all parts of human life. Financial management basically deals with the personal and managerial financial management. Personal finance management will aid you in controlling the finance of your family that comprises budgeting; savings, investments, debt management and other concerns which are related to personal money via an individual can acquire personal goals. Whereas the organizational finance management signifies the management of finance of the business or organization to acquire financial objectives. The chief goal of Financial Management in an organizational is to provide wealth for the business, bring out cash and obtain maximum gain by utilizing the investments of the business considering the included risks. Financial management is very important for both organizations as well for individuals as it aids in managing the funds. This helps a...
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