Financial management goals and objectives are the long-term and short-term plans employers have for managing their finances in order to maximize profits.
These plans include making decisions about funding operations, investing, budgeting, controlling expenses, planning taxes, monitoring and evaluating performance, and creating long-term strategies. They should also cover areas like risk management, liquidity management, capital structure analysis, and forecasting.
Having a strategy in place is essential for any organization as it allows them to effectively manage their financial resources and make informed decisions that will ultimately benefit the bottom line. By establishing financial management goals and objectives, businesses can align their financial activities with their overall corporate vision and create sustainable success.