Financial management is the practice of handling a companys finances in a way that allows it to be successful and compliant with regulations. It involves planning, organizing, directing, and controlling funds in a corporation or for an individual. Financial management uses ratios, equities, and debts to reach investment goals. The objectives of financial management include maximizing profits, tracking liquidity and cash flow, ensuring compliance with regulations, developing financial scenarios, and managing relationships with investors and boards of directors. The scope of financial management encompasses planning, budgeting, and forecasting. It helps companies allocate funds to meet costs and obligations while ensuring there are enough resources for emergencies and new business opportunities.
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