Business Studies 2026 Revision
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Finance
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4 Terms
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What is Financial Management
The planning and monitoring of an organisation’s financial resources to enable the organisation to achieve its goals. In other words, the other finance function has to provide the resources that a business needs now and in the future.
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What is the role of Financial Management
Must support other KBF’s, e.g. Finance, Human Resources, Marketing, Operations
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What is the strategic role of financial management
Setting financial objectives and ensuring the business is able to achieve these goals
Sourcing finance
Preparing budgets and forecasting future finances
Preparing Financial statements
Maintaining sufficient cash flow
Distributing funds to other parts of the business
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Business
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