Discuss the importance of accounting and financial management? What are the 4 financial objectives for any...

Discuss the importance of accounting and financial management? What are the 4 financial objectives for any business organization?

please give two examples

Expert Solution

Answer :

The importance of Accounting :

Accounting helps in trackng the income and ex/penditure of any organisation.
Accounting ensures statutory compliance.
Accounting provides qaulitative information to investors, management, government etc.
Accounting helps to create future projections
Accounting helps in filing financial statements.

The importance of Financial Management :

Financial Management helps organisation in financial planning.
Financial Management guides organisation in acquiring funds from various sources of raising funds.
Financial Management provides bes path for allocation and utilization of acquired funds.
Financial Management provides economic stability.
Financial Management encurages employees in personal financial planning to save money.

The 4 financial objectives for any business organization are as follows :

Profit Maximisation Objective
Wealth Maximisation Objective
Value Maximisation Objective
Other maximisation Objective

ekkarill92 answered 1 year ago

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Discuss the importance of accounting and financial management? What are the 4 financial objectives for any...

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