Is financial control not an element of financial management?
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.
According to question no 2 of ICAI module it is not an element so which answer to refer?
Answer is wrong.