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Financial Management> Understand the meaning of financial management> Know about the various aspects of financial management> Know about the different terms used in financial management> Learn about the importance of raising funds and fund allocation through budgeting Introduction Every organization, irrespective of its size or ownership pattern, has to manage its finances. The overall objectives of an organization cannot be achieved in the absence of financial management. Many organizations fail in their objectives because of financial mismanagement and this failure rate is quite high among the small business enterprises. Hence, financial management is vital for all types of organizations, profit making as well as non-profit making. In case of non-profit making organizations also the effectiveness and performance depends on their financial resources management. Financial Management When we attempt to analyze the financial functions of an organization we find that funds (capital) have to be:> Procured> Allocated for various activities> Used effectively> Monitored Further,...

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