What is financial management?

What will be an ideal response?

Financial management involves the strategic planning and budgeting of short- and long-term funds for current and future needs. A business is created to sell a good or service, and, of course, to make a profit. Producing, marketing, and distributing a product are important aspects of generating a profit. Even more important, however, is the company's ability to pay for the resources required to accomplish these tasks. Without management of finances, there is no business!