Financial management and accounting is the process of managing, controlling and auditing an organization’s financial resources. This includes activities such as budgeting, forecasting, cash flow analysis and financial reporting. It’s the responsibility of financial managers to ensure that a company stays solvent and is able to maximize its profits. Accounting involves tracking and recording all financial transactions accurately, which in turn helps business owners make sound decisions about investing, financing and operations. In short, it means having a solid handle on your organization’s money – and it’s essential for any successful enterprise.