State the primary objective of financial management.
class-12th business studies
Asked By Nilima Kapoor
Provide support for decision making. Financial management provides managers with the information and knowledge they need to support operational decisions and to understand the financial implications of decisions before they are made. It also enables managers to monitor their decisions for any potential financial implications and for lessons to be learned from experience, and to adapt or react as needed.
Ensure the availability of timely, relevant and reliable financial and non-financial information. Financial management gives managers the information that either forms the basis for calculating financial information, or is used for management control and accountability purposes.Manage risks. Financial management enables an organization to identify, assess and consider the financial consequences of events that could compromise its ability to achieve its goals and objectives and/or result in significant loss of resources.