Financial Management is the management of the finances of a business or an organization in order to achieve financial goals. Sound financial management is essential in all types of organizations whether it be profit or non-profit as it involves efficient use of the resources. A financial manager is required to ensure that sufficient funding is available to meet the needs of the business like investment in equipment and stocks, payment for employees and fund sales made on credit. In a country like India where resources are scarce and the demand for funds are many, the need of proper financial management is enormous.
Courses & eligibility:
Most of the universities offer education in financial management at the post graduate level. Generally, for undergraduate courses, the eligibility is 10+2 with 50% marks and for post graduate courses, the aspirant must be at least a graduate, preferably in commerce. Students are selected through an entrance examination followed by group discussion and a personal interview..
Finance is one of the most important aspects of business management. Without proper financial planning a new enterprise is unlikely to be successful. Managing money (a liquid asset) is essential to ensure a secure future, both for the individual and an organization. Generally MNCs are hot destinations for candidates qualified in financial management.
A beginner can expect a salary between Rs 15000-Rs20000. Remuneration depends on the nature of the Country & organization and one’s experience .