Financial administration:
Financial administration is concerned with the organization and performance of the government machinery which is responsible for executing different financial activities of the state. Preparing the budget for specific financial year is the master financial plan of the government. The different works, beginning with the objectives of designing a budget, the techniques of preparing it, presentation of the budget, passing or sanctioning, execution, auditing, and implementation and so on comprised the subject matter of financial administration.
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As per the classification according to nature costs can be categorized into Direct and Indirect.
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Most large businesses are busy in a number of dissimilar operations, with each containing its own levels of profitability, growth and risk.
An entire set of financial statements generally involves a balance sheet, a statement of profit and loss, a cash flow statement and those notes and other statements and explanatory material which are an integral part of the financial statements.
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