Financial Management is the planning and controlling of financial resources to achieve organizational objectives. It involves managing money and other valuable assets, monitoring their use and recording their performance. A key aspect of Financial Management is understanding the financial markets, including stock exchanges, banking systems, insurance and investment options. Additionally, it requires an in-depth knowledge and analysis of accounting information to gain insight into an organization’s financial position. Financial Management is a critical skill for any successful business as it ensures that resources are managed efficiently and effectively to achieve maximum return.