AP formal record of a person, business, or other entity’s financial actions and condition is called a financial statement. It offers comprehensive details regarding the entity’s financial situation and performance over a given time frame. Financial statements are crucial instruments for decision-making in the eyes of creditors, investors, regulators, and management.
The purpose of financial management is to guide businesses or individuals to make financial decisions helps to make financial stability both now and in the future. It helps to provide good guidance, financial management professionals will analyze finances and investments along with different forms of financial data to help to make decisions. Financial management can also offer clients increased financial stability and profitability when there’s a strategic plan for where, why, and how finances are allocated and used.
