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Financial Management (Financial management refers to the strategic…

- - - - Optimum and efficient utilization of funds;
        
        Creating real and safe investment opportunities to invest in.
        
        Financial management is also made up of certain elements. These include:
        
        Financial planning: This is the process of calculating the amount of capital that is required by an organisation and then determining its allocation. A financial plan includes certain key objectives, which are:
        
        Determining the amount of capital required;
- - - - Assists organisations in the planning and acquisition of funds;
    - - Provides economic stability;
        
        Encourages employees to save money, which helps them in personal financial planning.
        
        Why study financial management?
        
        Diverse career opportunities: Studying financial management opens up a lot of diverse career opportunities. It could be in the private or public sector. Some of the career options include investment banking, entrepreneurship, financial analysis, financial and managerial accounting, and strategic financial management. It is also beneficial for those people who are interested in starting their own business.
        
        Higher salary packages: People working in this sector are usually paid very well, whether it is at the entry level or at the management level. Additionally, this is a highly skilled job role that is always in demand, even during recessions.
        
        Improve interpersonal skills: Doing a course in this field will allow you to build better communication and teamwork skills through developing relationships with your colleagues.
        
        Builds personality: Doing a course in this field also helps in improving your soft skills. This is because people who wish to work in this sector must be extroverts, and should be able to talk about finance for hours altogether. This helps in improving their personality, knowledge, and communication.
        
        Greater job prospects: According the USA’s Bureau of Labour Statistics (BLS), there has been a spike in demand for finance manager jobs in US due to a “growing range of financial products and the need for in-depth knowledge of geographic regions”. This is further proven by the fact that the demand for careers in financial management has increased by 14%, careers in financial advising by 32%, and careers in financial analysis by 23%.
        
        Career growth: There is always an opportunity to develop your professional skills and climb the career ladder. You can quickly acquire in-depth knowledge of financial management systems and financial management software once in this field. If you possess this knowledge and great aptitude skills, this field is perfect for you.
    - - Helps in improving the profitability of organisations;
        
        Increases the overall value of the firms or organisations;