Objectives and Dimensions of Financial Management
Simply, financial management known as those managerial activities that is required to procure funds at the least cost and their effective deployment. For an organization finance is known as blood. No business can ignore the role of finance. On the understanding of its branch it is known as science which manages the money of a company. Traditionally, it was known as a branch of knowledge with focus on the procurement of funds. In the modern approach it is known as the procurement of the least cost funds and its effective utilization for maximization of share holder’s wealth. In the globalize world after the impact of information technology financial management have added new dimensions in the field of accounting and finance. About the goal of financial management it is clear that financial management of a firm is maximization of economic welfare of its shareholders. Broadly, it fulfills two goals – profit
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