The Only Thing To Hate About Personal Finance Management Is The Term ‘PFM’ (2)

Finance ManagementFinance is concerned with the acquisition and use of the firm’s financial resources. It has been ranked highly for providing business courses for Veterans and for providing courses that are highly desirable in the health sector management. Other ways of saving some money is by tapping into the corporate partners program whereby two students working in the same company incase enroll for online business; they will be given 4% ($2488) tuition waiver.

But the financial theories cannot be accurately compared with the ‘Scientific Method’ that applies to physics science. For example, the financial analyst can predict from the historical trend that the rate of interest will change in a definite pattern. Despite this, financial guidelines and theories are useful in financial decision making. He opines ‘finance is the science of knowing how to predict financial consequences and the art of knowing when to act’. It assists the financial managers of today to avoid the difficulties of tomorrow.Finance Management

This is the main responsibility of the finance manager to analyze and study various profitable ventures to invest the funds and it will help to get maximum return from the investment. The finance manager is the responsible person to take adequate decisions regarding net profit of the company. The key function of a finance manager is cash management and this depends on the future functions in an organization. The financial control is one of the major function of the finance manager along with the procurement and utilization of finance.

Thus, financial management means to plan and control the finance of the company. According to Dr. S. C. Saxena, the scope of financial management includes the following five A’s. Anticipation: Financial management estimates the financial needs of the company. All other functional areas such as production management , marketing management, personnel management, etc. A finance manager has to select amongst the various alternatives available to him.

Efficient financial management is required for survival, growth and success of the company or firm. Private Finance: – It is concerned with requirements, receipts, and disbursement of fund in case of an individual, a profit seeking business organization and a non-profit organization. Personal Finance: – Personal finance deals with the analysis of principle and practices involved in managing one’s own daily need of fund.

Finance Management