... are: - Financial management is a distinct area of business management - i.e. financial manager has a key role in overall business management - Prudent or rational use of capital resources -proper allocation and utilization of funds - Careful selection of the source of capital - Determining the debt equity ratio and designing a proper capital structure for the corporate - Goal achievement - ensuring the achievement of business objectives viz. wealth or profit maximization. The essential objective of financial management can be categorized into two broad functional categories -recurring finance functions and non-recurring or episodic finance functions--defining the functional role of a financial manager. - Performing the regular finance functions including financial planning including assessing the funds requirement, identifying and sourcing funds, allocation of funds and income and controlling the use or utilization of funds towards achieving the primary goal of profit/wealth maximization. - Performing the non-recurring functions including, though ...

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