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In simple terms, financial management can be explained as a self-control or discipline in an business that is mostly concerned with the management of money, expenses, earnings and credit rating. Financial management involves the assessment, organizing and management of financial assets of an company. It involves the use of fiscal tools and techniques as well as the preparation of reports. Financial control includes five main rules namely - cash flow, expense of capital, functioning, and financial balance. This also entails the recognition, way of measuring and reporting of financial transactions. The concepts and principles of this branch of accounting have…
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In simple terms, economic management can be defined as a discipline or field in an group that is primarily concerned with the management of cash, expenses, profits and credit rating. Financial control involves the assessment, preparing and supervision of financial information of an institution. It calls for the use of economic tools and techniques and the preparation of reviews. Financial managing includes five main ideas namely - cash flow, expense of capital, functioning, and financial balance. This kind of also entails the recognition, measurement and reporting of financial transactions. The concepts and principles of the branch of accounting have become…
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