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The action of regulating, organising, planning, and monitoring the financial resource is known as financial management. The Financial Management does set goals and objectives for its working process in order to achieve organisational progress. This makes it possible to better maintain the financial operations of businesses that raise money, use it, make payments, assess risk, account for it, and do other actions related to financial assets. Scope of financial management A company cannot function effectively until it has documented its profit and loss together with the precise method of expenditure. The management is assisted by financial management in making decisions about spending and saving, respectively.
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