Scope of Financial Management:
The Scope of financial management is vast and important to business. This is involved in all level of management and all fields of human activities. We can prove that devoid of good financial management, no group can be alive. Organization is obliging for people and wants welfare of public. However, it requires fund, money and cash and for getting it, it uses methods of financial management. Therefore financial management makes his place all over. Never understand it as the name of book but it is practical science to support business to live courteous life in society.
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Routine reports are submitted to dissimilar levels of management according to a fixed time schedule. Special reports are needed for special purposes. The reason of obtaining such type of reports, and the time limit in which such type of reports are to be submitted, has to be particularly and clearly laid down.
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