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Financial Management
Is financial control not an element of financial management?
Answers (4)
Yes, Financial control is an element of Financial Management. There are three key elements to the process of financial management: 1) Financial Planning Management need to ensure that enough funding is available at the right time to meet the needs of the business. 2) Financial Control Financial control is a critically important activity to help the business ensure that the business is meeting its objectives. Financial control addresses questions such as: o Are assets being used efficiently? o Are the businesses assets secure? o Do management act in the best interest of shareholders and in accordance with business rules? (3) Financial Decision-making The key aspects of financial decision-making relate to investment, financing and dividends.