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Supply Chain Management

INTRODUCTION

1. FINANCIAL MANAGEMENT

What is financial? Financial means money. Hence corporate financial management is the management of the firm's assets and liabilities. It involves ways to obtain and use money effectively so that we are all better off.

Financial management involves several specialties, budgeting anticipated revenues and costs, accounting for receipt and disbursement of funds once the budget is enacted, purchasing goods and services, Investing idle funds, issuing short and long term debt to buy equipment and construct facilities, controlling risks from accidents, fire, theft and liability suits and after the fiscal year ends, auditing financial transactions for legal compliance and adherence to accepted accounting principle.

Why is financial management important? Proper financial planning is important for the survival of any firms be it large or small. The intensified interest in financial management reflects the fact that public managers need these......


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Approximate Word Count: 437
Approximate Pages: 2 (250 words per double-spaced page)

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