Transcription of INTRODUCTION TO FINANCIAL MANAGEMENT
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INTRODUCTION TO FINANCIAL MANAGEMENT
INTRODUCTION TO FINANCIAL MANAGEMENTUNIT-1 MEANING OF FINANCIAL MANAGEMENT Financemaybedefinedastheartandscienceofm anagingmoney. Itincludesfinancialserviceandfinancialin struments. OF FINANCIAL MANAGEMENT Thetermfinancialmanagementhasbeendefined bySolomon, Itisconcernedwiththeefficientuseofanimpo rtanteconomicresourcenamely,capitalfunds . FinancialManagementdealswithprocuremento ffundsandtheireffectiveutilizationintheb usiness . Weston and Brigham : FINANCIAL MANAGEMENT is an area of FINANCIAL decision-making, harmonizing individual motives and enterprise goals . FINANCIAL MANAGEMENT IS CONCERNED WITH Financing Decisions Investment Decisions Dividend decisionsSCOPE OF FINANCIAL MANAGEMENT ,microandmacroenvironmentalfactorsareclo selyassociatedwiththefunctionsoffinancia lmanager. ,wecaneasilyunderstandtherelationshipbet weenthefinancialmanagementandaccounting.
The term financial management has been defined by Solomon, “Itis concerned with the efficient use of an important economic resource namely, capital funds”. The most popular and acceptable definition of financial management as given by S.C. Kuchal is that “Financial Management deals with procurement of funds and their effective
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