If numbers are your forte and making a career in commerce stream your dream then you must consider pursuing a course in Financial Management. The filed is a blend of topics like Capital Raising, Hedging, Portfolio Making, etc. designed specially to help organisations improve business strategies to achieve long term goals related to resources, profits and costs included in maintaining financial strength. Here is an insightful blog covering importance, popular courses, top universities and scope of Financial Management!
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What is Financial Management?
Financial Management is a concept of financial planning which includes the study of Accounting, Business Management, and Strategic Management. It’s a holistic approach mans to plan and control the finance of the company. The goal of all the courses for this field is to impart financial skills to the aspiring candidates, some of them are given below:
- Determining capital requirements
- Determining capital structure
- Framing financial policies
- Allocation of financial resources
Financial Management is an essential function of any business. As businesses need finances to obtain physical resources, carry out the production exercises and other essential transactions like paying wages to the suppliers, etc. The scope is to ensure efficient utilization of the capital through effective financial planning and control. Some of the important points are as follows:
- Financial Planning maintains a reasonable balance between outflow and inflow of funds so that the security of money is ensured among the cash flow of a business
- FM ensures that the suppliers of funds are easily financing in companies that adhere to employ the concept of financial planning
- It helps in creating growth and development programs that help in gaining the strong financial position of the company with adequate funds to be secured and utilizes at the time of any crisis
- Financial Planning overcomes risks that are concerned with the dynamic market trends and can be faced easily through enough funds
- Lastly, it aims to reduce the uncertainties which can be an obstacle to the growth of the company, hence optimizing the stability and profitability.
Find out how to make a career in Management Information Systemt!
Functions of Financial Management
Objectives for Financial Management
As we know the Financial Management deals with the organizing, planning, and controlling of transactions like the procurement and utilization of funds. Its objectives include the efficient utilization of the capital through effective financial planning and control of resources. Here is a list of some popular objectives of Financial Management:
|Wealth maximization||Profit maximization|
|Create Goodwill||Prepare Capital Structure|
|Proper Estimation of Total Financial Requirements||Proper Mobilisation|
|Proper Utilisation of Finance||Maintaining Proper Cash FlowSurvival of Company|
|Proper Coordination||Creating Reserves|
|Increase Efficiency||Financial Discipline|
|Reduce Cost of Capital||Reduce Operating Risks|
A long list of prestigious universities offers various graduate and undergraduate courses in Financial Management, have a look at some of the popular ones:
|Financial Management MSc||University of Birmingham|
|MSc Financial Management||Sheffield Hallam University|
|Graduate Certificate in Financial Planning||Centennial College of Applied Arts and Technology|
|International Accounting and Financial Management MA||University of Glasgow|
|MSc in Accounting and Financial Management||University of York|
|Ontario College Graduate Certificate in Financial Planning||George Brown College|
|Master of Financial Mathematics, Australia||The University of Queensland|
|Master of Financial Analysis, Australia||La Trobe University|
|Accounting, Accountability and Financial Management MSc||King’s College London|
The eligibility criteria and application process may differ to a great extent for UG and PG courses. In this case, the best option is to connect with Leverage Edu experts who will brief you with the right procedure to apply at your dream university!
A career in Financial Management offers lucrative job opportunities for those who have acquired the right skill set and academic qualifications. Enlisted below are some of the career opportunities in this field:
- Branch Managers
- Cash Managers
- Financial Controllers
- Credit Managers
- Directors and Managing
- International Finance Managers
- Risk and Insurance Managers
- Treasurers and Finance Officers
Here is a list of Finance Interview Questions!
Hopefully, this blog has helped you to acquire all the necessary information about the career in Financial management and its associated fields. Are you confused about which course and university to pick for higher education? Get in touch with Leverage Edu and get your career sorted!