Overview
Financial management is a crucial skill that involves planning and controlling financial resources to achieve desired outcomes. It encompasses various activities, including budgeting, investing, and financial analysis, which are essential for both individuals and organizations. Understanding financi...
Key Terms
Example: Creating a monthly budget to manage household expenses.
Example: The income statement shows a profit of $10,000 for the quarter.
Example: The balance sheet indicates total assets of $50,000.
Example: The cash flow statement shows a net cash inflow of $5,000.
Example: Investing in stocks can yield high returns over time.
Example: Risk management strategies include diversifying investments.