According to the modern approach the term financial management provides a conceptual and analytical framework for financial decision making. That means, the finance function covers both acquisition of funds as well as their allocation. This new approach views the term financial management in a broader sense. It is viewed as an integral part of overall management. An organization should be effective in its management process to create and expand its operations. Financial Management is the art and skill of developing techniques to create effectiveness in this process. The commitment of funds to capital projects gives rise to strategic management decisions, which if turn out to be wrong, may seriously impair the company’s overall profitability and growth. This book discusses the theory of financial management, outlines the relevant tools and techniques for analysing financial decisions, and presents information about environment relevant for corporate growth. Students and professionals find this practical reference book useful in all areas of corporate financial management and accounting.
