RRL

According to Morne (2016), planning is an inextricable dimension of financial management. The term
financial management connotes that funds flows are directed according to some plan. Financial
managements can be said a good guide for allotment of future resources of an organization

Preparing and implementation of some plans can be said as financial management. In other words,
collection of funds and their effective utilization for efficient running of an organization is called financial
management. Financial management has influence on all activities of an organization. Hence it can be
said as an important one.