What Is Financial Management? Identify the Duties and Responsibilities of Financial

question 81

Essay

What is financial management? Identify the duties and responsibilities of financial managers.

---

Definitions:

Profits

The financial surplus remaining after all expenses, including taxes and operating costs, have been deducted from total revenue.

Management Responsibilities

The duties and obligations that managers have to oversee and guide their organization effectively.

Personal Liability

The legal responsibility of an individual to satisfy debts or obligations from their personal assets.

Joint Stock Company

A partnership agreement in which company members hold transferable shares, whereas all the goods of the company are held in the names of the partners.