>> /Rotate 0 Revenue maximization is possible through pricing and scale strategies. Once defined, you can organize your goals in one branch of the mind map, however, it is advisable to present them as projects so you could track your progress more easily. /Length 0 /MediaBox [ 0 0 595.44 841.68 ] /CS /DeviceRGB /Tabs /S /S /Transparency /XObject << /Type /Page Created by British psychologist Tony Buzan, mind mapping is a graphic method of taking notes and capturing information, where a central idea expands outward into branches, and then further detail is added from there. One usually puts money in a savings account because of the need and desire to access it more easily and quickly and at the same time without a risk and with low taxes. >> endstream /F1 94 0 R /ProcSet [ /PDF /Text /ImageB /ImageC /ImageI ] /ProcSet [ /PDF /Text /ImageB /ImageC /ImageI ] /Flags 32 >> /F4 102 0 R /Contents 211 0 R /F5 106 0 R /Length 0 << It also deals with the dividend policies of the shareholders. /Meta328 117 0 R << >> >> >> /F5 106 0 R /F2 98 0 R 73 0 obj /Resources << >> >> /Length 0 Financial Management: It is concerned with optimal procurement as well as usage of finance. endobj endstream /Rotate 0 Credit Card Debt Relief. /CropBox [ 0 0 595.44 841.68 ] >> General Goals of Financial Accounting. /Parent 1 0 R << /F4 102 0 R /Font << /CropBox [ 0 0 595.44 841.68 ] >> endstream >> /FontBBox [ -503 -250 1240 750 ] /Group << Thus, cash flow based returns help financial managers to avoid insolvency and achieve desired financial goals.Decision-making: The chief focus of an accountant is to collect data and present the data while the financial manager's primary responsibility relates to financial planning, controlling and decision-making. /Tabs /S >> /Contents [ 5 0 R ] stream >> /Type /Group >> /F6 129 0 R /Parent 1 0 R Although everyone’s financial plan and goals are diverse, you should have in mind that you will need some kind of insurance sometime in your life, so you should make it a part of your financial plan. /Resources << /CropBox [ 0 0 595.44 841.68 ] 34 0 obj /Group << /F1 94 0 R endstream /F2 98 0 R /Rotate 0 /Font << /Length 0 Once you create this branch you can always check how your goals are 'performing'. 96 0 obj endobj endstream /Group << /Parent 1 0 R endstream >> endobj 19 0 obj /CS /DeviceRGB stream Everyone has some plan on how they manage their money. /Pages 1 0 R /Contents 193 0 R endobj Once defined, you can organize your goals in one branch of the mind map, however, it is advisable to present them as projects so you could track your progress more easily. >> For more info check our, 7 Ways to Use Mind Maps in Your Business Reports. endobj /Group << /F4 102 0 R /Type /Page A mind map is a perfect solution for representing a sound financial plan because it’s adaptable and flexible to change which is essential when it comes to personal finance. /S /Transparency 2016-05-06T19:26:57+05:30 stream /Resources << It includes how to raise the capital and how to allocate capital. /Rotate 0 /CS /DeviceRGB Investing, on the other hand, means buying assets, like mutual funds or real estate, which would make money for you on the long-term. /Parent 1 0 R endobj /Resources << /Rotate 0 /Font << 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 53 0 obj /MediaBox [ 0 0 595.44 841.68 ] /F1 94 0 R /Rotate 0 /Length 0 >> << /F6 129 0 R 11 0 obj /S /Transparency Financial management entails planning for the future of a person or a business enterprise to ensure a positive cash flow, including the administration and maintenance of financial assets. endobj 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R /FontDescriptor 95 0 R endobj << /CropBox [ 0 0 595.44 841.68 ] /Parent 1 0 R The goal of financial management is to maximize shareholder wealth. /Font << >> /CropBox [ 0 0 595.44 841.68 ] ��h�2Q�1J��Rw�*�|E�E-Ո�o!?_̠��)����B�ڈ_�})O|B��r��o)KYM=�u�R�Pމ���5a^�x��EW�J]�+qR��R�;;���j:���h�Ƣ�z����b���#�[�wp���y��c�^:X�g����?��:�. >> It guides how to find and use the best investment and financing opportunities in the continuously changing and complex environments. Saving money aside for future emergencies or purchases is usually done in financial institutions. << /Group << endobj We'll discuss the drawbacks of other potential measures. /Group << /MediaBox [ 0 0 595.32 770.4 ] The following are illustrative examples of revenue goals. /F4 102 0 R /XObject << /F8 164 0 R Major goals of Financial Management. /ProcSet [ /PDF /Text /ImageB /ImageC /ImageI ] The Financial Planning mind map. endstream /Tabs /S << /LC /iSQP /Tabs /S /Font << /F2 98 0 R /ProcSet [ /PDF /Text /ImageB /ImageC /ImageI ] /Resources << /Type /Page x��{\T���;������.��,�+��bKd�Y�Q� 6�$�cK3 ���T�{��j�T�����M�����h��9��QP�x�����ߏY��9p1�䂲���ř$��ۈ�+�+(_���\� The Goal of Financial Management. << /Font << 36 0 obj /F19 156 0 R /Tabs /S /LC /iSQP /F6 129 0 R /Parent 1 0 R endstream /F4 102 0 R >> Profit is the excess of revenue over expenses. /Contents 137 0 R endobj Share you knowledge and expertise with the hundreds of thousands readers of the iMindQ Blog. << endobj /Rotate 0 >> >> /F4 102 0 R 2. Gross profit goals are typically related to growth strategies such as launching new products and improving the sales of existing products. << ����|z�L?%2U�. /CropBox [ 0 0 595.32 770.4 ] /F2 98 0 R /F2 98 0 R /CropBox [ 0 0 595.32 770.4 ] y\��՝�w����=�Ŕr ��^�4�f�k�z��H��e'VO��ꇄ����C+38b�Ai�^t�����m�Z�A��YPG�oH��?�_נ��[;��t��!u������K�������ƥ?�Ccg�q�:�hJ -��~���ku������L���jl9���SO�FJ=�ޓ*ϗ�� /Parent 1 0 R /Type /Group /F8 164 0 R /Font << /Tabs /S /Count 159 /Length 2137 /Rotate 0 /Group << /F2 98 0 R /Font << /LC /iSQP /F1 94 0 R 81 0 obj /Group << /F4 102 0 R /Group << 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 2016-05-06T19:26:57+05:30 /Length 0 endstream << /F8 164 0 R /S /Transparency /Type /Metadata /Length 0 << endstream /Group << /ProcSet [ /PDF /Text /ImageB /ImageC /ImageI ] /Type /Group The two schools of thought in this favor are Traditional Approach and Modern Approach. /Type /Group /Font << /S /Transparency /ProcSet [ /PDF /Text /ImageB /ImageC /ImageI ] /F5 106 0 R << >> /F2 98 0 R /LC /iSQP endstream << << << /F5 106 0 R /F5 106 0 R 51 0 obj endstream /Length 0 /Tabs /S /CropBox [ 0 0 595.44 841.68 ] /CS /DeviceRGB /ProcSet [ /PDF /Text /ImageB /ImageC /ImageI ] /S /Transparency According to this goal, finance functions should be oriented towards the maximization of profit. /MediaBox [ 0 0 595.44 841.68 ] endobj /ProcSet [ /PDF /Text /ImageB /ImageC /ImageI ] >> /Type /Page /Length 0 >> /F6 129 0 R /Contents 123 0 R /CS /DeviceRGB stream /MediaBox [ 0 0 595.44 841.68 ] endstream >> /CS /DeviceRGB 7 0 obj /S /Transparency /Contents 128 0 R 44 0 obj endobj /Group << >> stream /ProcSet [ /PDF /Text /ImageB /ImageC /ImageI ] /CropBox [ 0 0 595.44 841.68 ] endobj /Rotate 0 << /Group << /F4 102 0 R Depending on whether your primary goal is saving money for your children education, starting your own business, buying a home or else, you can make an adjustable mind map that you would edit along the way. /F1 94 0 R /F4 102 0 R /ProcSet [ /PDF /Text /ImageB /ImageC /ImageI ] endstream /Count 43 /LC /iSQP /Resources << << << >> u�z@�F�V�N�^�A�Q�I�YŷC�S�#�锁�f�Hܳ��1�*�Au4�������Ha "Y��E��.��b�h��*q��H\,6�k�N�GO�� �� >2 !�P��f7� ��!2E1Z�b /Parent 1 0 R endobj For public companies this is the stock price, and for private companies this is the market value of the owners' equity. CREC, Dept of MBA Page 2 JAWAHARLAL NEHRU TECHNOLOGIAL UNIVERSITY ANANTAPUR MBA Semester – II Th C 4 4 (14E00204) FINANCIAL MANAGEMENT … >> endobj >> << 30 0 obj The invest certain amount, spend some, put some in savings etc. >> You can choose a method for budgeting that meets your needs best. /S /Transparency /CS /DeviceRGB /Tabs /S /Type /Group << /ProcSet [ /PDF /Text /ImageB /ImageC /ImageI ] 24 0 obj /Parent 1 0 R 72 0 obj /Contents 177 0 R << endstream endobj >> /Resources << /ProcSet [ /PDF /Text /ImageB /ImageC /ImageI ] >> /Length 0 endobj /F2 98 0 R /ProcSet [ /PDF /Text /ImageB /ImageC /ImageI ] /Contents 121 0 R /LC /iSQP stream /LC /iSQP /LC /iSQP << /MediaBox [ 0 0 595.44 841.68 ] /Type /Page /Tabs /S In general, there are elements that are commonly used when creating a financial plan. /MediaBox [ 0 0 595.44 841.68 ] << ���H\�4�̗�aظ�H�xј�Ie��}?��xw��]P����ϧ�w�j�-u����*Qʍ���Y��/,DC��%̩Y��Ƀ��C{ۜ�g��֯�v�y? >> 25 0 R 27 0 R 29 0 R 31 0 R 33 0 R 35 0 R 37 0 R 39 0 R 41 0 R 43 0 R 45 0 R 47 0 R /ProcSet [ /PDF /Text /ImageB /ImageC /ImageI ] >> endobj /Resources << /Length1 243072 endstream >> In fact, mind maps are characterized by the ability to support organizing and outlining information, which makes them helpful for making a financial plan. The primary goal of financial management is to maximize profit. endobj >> /CS /DeviceRGB /Type /Page 61 0 obj /Type /Page >> /ModDate (D:20160506192657+05'30') endstream /Length 0 /F2 98 0 R >> /Contents 188 0 R /Rotate 0 Financial goals may be stated as maximizing short-term profits and minimizing risks. /Rotate 0 >> stream >> /LC /iSQP /Group << /BaseFont /ABCDEE+Calibri Organizations also have to make similar decisions. /Group << /Rotate 0 /Type /Group /Parent 1 0 R /Meta371 153 0 R /Length 0 /S /Transparency 63 0 obj /F1 94 0 R /LC /iSQP /CS /DeviceRGB Your financial advisor should gather quite a bit of information about you and your current financial status.. /F5 106 0 R >> /F2 98 0 R << endobj /Resources << /Contents 180 0 R /Rotate 0 /CS /DeviceRGB /Length 0 /F2 98 0 R /S /Transparency << /Type /Group 31 0 obj << /Tabs /S >> stream << /F6 129 0 R << /Type /Group >> /Font << /CropBox [ 0 0 595.44 841.68 ] /S /Transparency endobj endobj /Length 0 /FontName /ABCDEE+Calibri << /Contents 186 0 R /MediaBox [ 0 0 595.44 841.68 ] /Contents 212 0 R So the amount of money you put in your emergency fund could be used for different reasons like medical reasons, house repair, car repair, or else. >> /F1 94 0 R 32 0 obj endstream 37 0 obj 38 0 obj endobj /Group << /Length 0 /MediaBox [ 0 0 595.32 770.4 ] /MediaBox [ 0 0 595.44 841.68 ] endstream << >> Under financial goals can be put various goals that a person could have such as buying new house or car. /Type /Page /Resources << /CropBox [ 0 0 595.32 770.4 ] << endobj << /F1 94 0 R /Contents 189 0 R >> << /CropBox [ 0 0 595.44 841.68 ] Profit maximization is therefore maximizing revenue given the expenses, or minimizing expenses given the revenue or a simultaneous maximization of revenue and minimization of expenses. /LC /iSQP endstream 79 0 R 81 0 R 83 0 R 85 0 R 87 0 R 89 0 R 91 0 R ] Call (800) 565-8953. >> >> /Type /Page >> /Resources << /CS /DeviceRGB << >> 4 0 obj >> >> /Resources << /Tabs /S /StemV 52 stream endobj stream /MediaBox [ 0 0 595.32 770.4 ] /Tabs /S >> 29 0 obj endobj /Type /Group /F2 98 0 R /Type /Group /Resources << /F4 102 0 R /Parent 1 0 R /F8 164 0 R >> /F2 98 0 R /Descent -250 /F4 102 0 R 18 0 obj 39 0 obj stream financial management ideas, including the process of how you manage the money coming into your business and money going out of your business. /CropBox [ 0 0 595.44 841.68 ] /LC /iSQP question: draw a concept map or paradigm that illustrate the concept of goals of financial management, agency relastionships, function of financial management and responsibilities of financial managment . Goals of Financial Management for an Organization: There are primary 2 goals of financial management for an organization, they are profit maximization and wealth maximization. /LC /iSQP >> /LC /iSQP 3 0 obj endobj >> /F2 98 0 R /Font << >> /Type /Group /F5 106 0 R /Type /Group /F4 102 0 R >> /S /Transparency >> Goals of Financial Management. endobj stream >> /Type /Page 10 0 obj endobj 78 0 obj /Resources << << endobj This chapter will give you an idea of what financial management is all about. >> /F6 129 0 R /Parent 1 0 R >> Client Login; Hours of Operation; GET DEBT HELP. /Rotate 0 /Resources << /S /Transparency /Type /Page /Tabs /S /Type /Group /CropBox [ 0 0 595.44 841.68 ] /F4 102 0 R /Length 0 /Tabs /S /Font << 23 0 obj /CropBox [ 0 0 595.44 841.68 ] /MediaBox [ 0 0 595.44 841.68 ] >> << 60 0 obj << /Rotate 0 >> /F2 98 0 R /Type /Page /Contents 213 0 R << /Contents 185 0 R >> /Type /Group << >> /Font << >> /CropBox [ 0 0 595.44 841.68 ] /CropBox [ 0 0 595.32 770.4 ] >> endstream /Image377 168 0 R << 1 0 R 1 0 R 1 0 R 1 0 R 7 0 R 9 0 R 11 0 R 13 0 R 15 0 R 17 0 R 19 0 R 21 0 R 23 0 R >> 31 0 R 33 0 R 35 0 R 37 0 R 39 0 R 41 0 R 43 0 R 45 0 R 47 0 R 49 0 R 51 0 R 53 0 R /S /Transparency A financial plan can be defined as an exhaustive assessment of a person’s, business’s or other entity’s current and future financial situation. /Length 0 /Group << /F4 102 0 R endobj >> 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R 1 0 R << /CropBox [ 0 0 595.44 841.68 ] /Font << /F5 106 0 R /Type /Group /XObject << endstream Mind Mapping In Financial Planning. /ProcSet [ /PDF /Text /ImageB /ImageC /ImageI ] /Parent 1 0 R /ProcSet [ /PDF /Text /ImageB /ImageC /ImageI ] endobj 62 0 obj /F6 129 0 R 76 0 obj }����5u?^�q%�OC��0Xﵠ����s,]�m�UDJQ����7�6+l����,��1���$Jq���5��M���-h�>�fA�����8g)�u䢅K��;i��C+_�P���mJ��i�~a5~�����63r����DZz���k���+:�zQ�~�`d�H!NhBm$���t�������:$�s�%�'�LFZN*Z�(���q_R �b#JM�M�p�̬�L�2�iTŠ*��Hi�Җv�/ф2���D�܇��t7��2u�1B)�G�x ��f�h���j�[���t̫_v��^R�-FM=��oG�+��u\�ӏ�6�Mܷ��ˌ��߹�!��C�Qq��F�_�Sd�{��=��=C��c��A}�7��{=B�;����7��@7��т��c^w���s���:�n6�M���H{���}��.�22��n�|t��! /F4 102 0 R /Length 0 /Resources << >> These are the primary things on which one concentrates when making a strategy for planning their finances for every stage of life. 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