3 Answers
Financial management is the process of planning, controlling and maintaining the financial resources of an individual or a business.
The following are the fundamentals of financial accounting:
- It focuses on wealth maximization
- It maintains the stability of cash
- It ensures the long term survival of the firm
- It ensures optimum utilization of resources
Financial management is a process of planning, implementing, and controlling the use of financial resources to achieve personal financial goals.
The fundamentals of financial management are the four basic principles that all managers should have in mind:
- Budgeting
- Investing
- Paying bills and debts
- Tracking spending and saving
The fundamentals of financial management are the basics of money and how it is used. These are the skills that we use to manage our personal finances and to make decisions about how to invest our money.
The basics of personal finance include understanding your net worth, managing your cash flow, creating a budget, and saving for the future.
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