What is meant by financial management?

What is meant by financial management? State the primary objective of financial management.
or
State the objective of financial management’.

Financial management is concerned with procurement and utilisation of finance in an optimum manner. It aims at reducing the cost of funds procured, keeping the risk under control and ensures effective deployment of such funds.

  • The primary aim of financial management is to maximise the shareholders’ wealth by maximising the current price of equity shares of the company.