Financial management is concerned with the maintenance and creation of economic value or wealth. Consequently, every business manager is becoming more concerned in increasing decision making skills to be in a better position to deal with financial decisions, such as when to introduce a new product, when to invest in new assets, when to replace existing assets, when to borrow from banks, when to raise issue to stocks or bonds, when to extend credit to a customer and how to maintain effective cash management.
The services under financial management include
- Strategic financial management;
- Development of financial forecasts;
- Development of budgets and cash flow forecasts;
- Financial business valuations;
- General accounting, book-keeping and secretariat duties.