Financial management, as an integral part of over all management is not atotally independent area. It draws heavily on related disciplines and field of study,such as Economics, Accounting there disciplines are in related, there are keyreferences among them.Financial management refers to its relationship with the closely relatedfields, its function, scope and objectives. Financial as academic discipline as under gone fundamental changes in its scope and coverage. In the early years of itsevolution it was treated synonymously with the rising of funds. In the currentliterature pertaining to financial management in addition to procurement of fundsefficient use of resources is universally recognized.
Definition of Financial management:
Ezra Solomon has defined “The Financial Function as the study of the problems involved in the use and acquisition of funds by a Business”.
Scope of financial management:
The approach to the scope and the functions of financial management isdivided for the purposes of expositions into two broad categories.