PFM encompasses a broader set of functions than financial management and is commonly conceived as a cycle of three phases, beginning with policy design and ending with external audit and evaluation.

FINANCIAL MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	True
B	False

Explanation:

Detailed explanation-1: -Financial management is strategic planning, organising, directing, and controlling of financial undertakings in an organisation or an institute. It also includes applying management principles to the financial assets of an organisation, while also playing an important part in fiscal management.

Detailed explanation-2: -Explanation: the ultimate goal of the business entity is to earn profits and increase the wealth of the shareholders because this is the main objective of businesses.

Detailed explanation-3: -Acquisition of Funds. Acquiring needed funds play a major part of the financial management, which involve possible source of finance at minimum cost.

Detailed explanation-4: -There are four recognized elements of financial management: (1) planning, (2) control-ling, (3) organizing and directing, and (4) decision making.

There is 1 question to complete.

BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

FINANCIAL MANAGEMENT