Master Note of Accounting and Finance

What is Management? Management is the process of planning, organizing, staffing, leading and controlling the resources (include human, physical, financial, and information) of an organization to achieve its goals efficiently and effectively. What is Financial Management? Finance is the branch of management. It is an art and science of managing money. The proper management of money is called Finance. Finance refers to funds needed by individuals, businesses and government. Finance studies money and its management. Financial management is the process of planning, organizing, directing and controlling the financial activities in an organization.  Importance of Financial Management Financial management is importance for various reasons of the company they include: It provides guidelines of financial planning It helps to identify the sources of funds It helps to allocate the resources properly It increases the efficiency It reduces the costs It provides information though financial re