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What is the difference between financial planning and financial management?

Posted by Harsh Vardhan 4 years, 8 months ago

CBSE > Class 12 > Business Studies

1 answers

Yogita Ingle 4 years, 8 months ago

Financial Management: Its is concerned with optional procurement as well as the usage of finance . It means that finance procured should be intrested in such involvement. Therefore financial management aims at reducing cost , keeping risk under control and acheiving effective utilsation of money

Financial Planning: The Process of estimating the fund requirement of a business and specifing the sources of fund is called Financial Planning. It takes into consideration growth performance investmesnt and requirement of fund at a given period of time. Financial planning involves long term planning for investment and short term planning called budget.

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