Question

Discuss the prime goals of financial managment and also explain the responsibilities of the financial manager towards the achievement of the goals

Answer 1

The prime goals of any Financial Management are:

1. Planning

2. Controlling

3. Monitoring

4. Organizing

Financial Management is one the most important activity for any organization, the role of Financial Management is to plan control, monitor and organize the financial resources of any organization. In laymen's term, we can say that Financial Management is the practice of managing money of the firm.

The Financial Management deals with procuring funds for organization, managing the funds, allocating them and monitoring if they are being used as they have planned.