DEFINITION OF FINANCIAL MANAGEMENT
The term financial management has been described by management experts in several ways reflecting the duties and responsibilities of a finance manager over the years. Some of the popular definitions are as follows -
- Bonneville and Dewey - 'Financing consists of the raising, providing, man aging of all the money, capital or funds of any type to be used in connection with the businesses
- Phillippatus - 'Financial Management is concerned with the managerial decisions that result in the acquisition and financing of long-term and short term credits for the firm'
- R.C.Osborn - 'Finance Function is the process of acquiring and utilizing funds of a business'