BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Creating financial plan
|
|
|
Evaluating financial status
|
|
|
Setting goals
|
|
|
Implementing financial plan
|
Detailed explanation-1: -1. Create and stick to a budget. Not only is budgeting one of the top financial goals people set each new year, but it’s also the foundation you should build all your other money goals on. A budget is how you make progress with your money.
Detailed explanation-2: -1) Identify your Financial Situation The first stage of the financial planning process constitutes assessment on what is happening in your life right now and how you can change your financial situation.
Detailed explanation-3: -Financial Management refers to the application of general management principles to the various financial resources which are projecting. This encompasses planning, organizing, directing and controlling of the financial activities.