Business And Financial Management: Fill & Download for Free

Importance of Financial Management cannot be over-emphasized. It is, indeed, the key to successful business operations. Without proper administration of finance, no business enterprise can reach its full potentials for growth and success. Money is to an enterprise, what oil is to an engine.Financial management is all about planning investment, funding the investment, monitoring expenses against budget and managing gains from the investments. Financial management means management of all matters related to an organization’s finances.The best way to demonstrate the importance of good financial management is to describe some of the tasks that it involves:-(i)Taking care not to over-invest in fixed assets(ii)Balancing cash-outflow with cash-inflows(iii)Ensuring that there is a sufficient level of short-term working capital(iv)Setting sales revenue targets that will deliver growth(v)Increasing gross profit by setting the correct pricing for products or services(vi)Controlling the level of general and administrative expenses by finding more cost-efficient ways of running the day-to-day business operations, and(vii)Tax planning that will minimize the taxes a business has to pay,This answer is taken from our SFM faculty AADITYA JAIN SIR CA CS CMA INTER FM FINAL SFM ELECTIVE PAPER STOCK MARKET CLASS FACULTY’s BOOK.

How did I attain my financial security gold laying goose you ask?Ok, my path is not easy and it is not for everyone, as it is unique to my skills. I will share an easier way to financial security.The easy way:No debt to start anything with.Get a job. Divide the income 5 ways:Living expenses.Life goals savings. (marriage, car, education,etc)Emergency savings.Investments options. (let it compound)Start an online home business. Divide the income 5 ways:Living expenses.Life goals savings. (marriage, car, education,etc)Emergency savings.Investments options. (let it compound)Start an online business. Divide the income 5 ways: ( well, you get the idea)Quit the job once you have 3–5 stable online businesses. Then:Sell one business and buy real estate and rent it.Create new online business and wait for it to mature. Then:Sell one business and buy real estate and rent it.Create new online business and wait for it to mature. Then:(you get the idea, repeat)Now you have 3–5 real estates. Use their rent to buy more real estate.Now you haveFinancial investments portfolio compounding.Real estate rents.Online businesses income.Sell all remaining online businesses and put the money in the financial investments portfolio and let it compound.If you have 5–10 real estates you can retire on the rents. Let the financial portfolio compound.When the financial portfolio matures take half the profits every year and add it on top of the rent money and live like a king.This process can take anywhere from 5–15 years to finish. The key is toStay out of debt so you can try as many times as possible with online businesses, no matter how many times you fail you can try again next month, unlike with debt. after next 5 years.Create as many sources of income as possible, not just to increase the revenues, but to dilute the risk of losing one source of income or another.When in doubt.. compound. The whole point is reinvesting most of your revenue and spending less than one source of income.P.S: you are allowed to use debt when your online businesses are big enough to hire a financial manager.

I have ranked them from easiest to hardest(1 to 7) as below:1. Accounting1. Business Laws1. Cost Accounting and Financial Management1. Taxation1. Advanced Accounting1. Auditing Assurance1. ITSMWait !!! Are not all subjects numbered as 1 ?Yes, because all are easy, please change your mindset.