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Financial Management

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Financial management refers to the efficient and effective management of money (funds) in such a manner as to accomplish the objectives of the organization. It is the specialized function directly associated with the top management. The significance of this function is not seen in the 'Line' but also in the capacity of the 'Staff' in overall of a company. It has been defined differently by different experts in the field.

The term typically applies to an organization or company's financial strategy, while personal finance or financial life management refers to an individual's management strategy. It includes how to raise the capital and how to allocate capital, i.e. capital budgeting. Not only for long term budgeting, but also how to allocate the short term resources like current liabilities. It also deals with the dividend policies of the share holders.

Definitions of Financial Management

  • "Planning is an inextricable dimension of financial management. The term financial management can notes that funds flows are directed according to some plan." By James Van Horne
  • "Financial management is that activity of management which is concerned with the planning, procuring and controlling of the firm's financial resources. " By Deepika &Maya Rani
  • “Financial Management is the Operational Activity of a business that is responsible for obtaining and effectively utilizing the funds necessary for efficient operation.” By Joseph Massie
  • “Business finance deals primarily with rising administering and disbursing funds by privately owned business units operating in non-financial fields of industry.”– By Kuldeep Roy
  • “Financial Management is an area of financial decision making, harmonizing individual motives and enterprise goals." -By Weston and Brigham
  • “Financial management is the area of business management devoted to a judicious use of capital and a careful selection of sources of capital in order to enable a business firm to move in the direction of reaching its goals.” – by J.F.Bradlery
  • “Financial management is the application of the planning and control function to the finance function.” – by K.D. Willson
  • “Financial management may be defined as that area or set of administrative function in an organization which relate with arrangement of cash and credit so that organization may have the means to carry out its objective as satisfactorily as possible." - by Howard & Opton.
  • Business finance can be broadly defined as the activity concerned with planning, raising, controlling and administering of funds and in the business. “ by H.G Gathman & H.E Dougall
  • Financial management is a body of business concerned with the efficient and effective use of either equity capital, borrowed cash or any other business funds as well as taking the right decision for profit maximization and value addition of an entity.- Kepher Petra; Kisii University.
  • "Financial management refers to the proper and efficient use of money and it plays a significant role in analyzing to invest in profitable business enterprise. Return on Investment must be greater than the invested amount."
  • "Financial management refers to the effective and efficient management of money and it is also process of planning, controlling, leading, directing of a firm's financial resources."

Objectives of Financial Management

  • Profit maximization happens when marginal cost is equal to marginal revenue. This is the main objective of Financial Management.
  • Wealth maximization means maximization of shareholders' wealth. It is an advanced goal compared to profit maximization.
  • Survival of company is an important consideration when the financial manager makes any financial decisions. One incorrect decision may lead company to be bankrupt.
  • Maintaining proper cash flow is a short run objective of financial management. It is necessary for operations to pay the day-to-day expenses e.g. raw material, electricity bills, wages, rent etc. A good cash flow ensures the survival of company.
  • Minimization on capital cost in financial management can help operations gain more profit.
  • It is vague :- There are several types of profits before interest, depreciation and taxes, profit before taxes, profit after taxes, cash profit etc

Scope of Financial Management

  • Estimating the Requirement of Funds: Businesses make forecast on funds needed in both short run and long run, hence, they can improve the efficiency of funding. The estimation is based on the budget e.g. sales budget, production budget.
  • Determining the Capital Structure: Capital structure is how a firm finances its overall operations and growth by using different sources of funds. Once the requirement of funds has estimated, the financial manager should decide the mix of debt and equity and also types of debt.
  • Investment Fund: A good investment plan can bring businesses huge returns.

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Tawaran Khas untuk lepasan SPM/STPM/STAM/Diploma/Matrikulasi/Asasi Sempena Ulang Tahun ke 20 ICYM

  1. Biasiswa Penginapan dan Pengangkutan bagi Program Diploma dan Ijazah
  2. Pembiayaan/Penajaan Penuh daripada PTPK bagi Program Sijil

Permohonan:

Langkah 1, Biasiswa - Klik Sini
Langkah 2Pilih Program

Foundation / Diploma Foundation In Information Technology Foundation In Management Diploma In Entrepreneurship Diploma In Marketing Diploma In Accountancy Diploma In Islamic Financial Planning Diploma In Culinary Arts Diploma In Hotel Management Diploma In Tourism Management Diploma In Animation Technology Diploma In Media Technology Diploma In Theatrical Arts And Technology Diploma In Multimedia Technology Diploma In Information Technology Diploma In Computer Networking Diploma In Cyber Security Diploma In Electrical Technology Diploma In Industrial Electronic Technology Diploma In Early Childhood Education Diploma In Guidance & Counseling Diploma In Aircraft Maintenance Technology Kerjasama Universiti Teknologi Malaysia Diploma In Technology Management (UTM) Diploma In Technology Management (Accounting) (UTM) Diploma In Computer Science (Information Technology) (UTM) Sarjana Muda Sains (Pembangunan Sumber Manusia) (UTM) Sarjana Muda Pengurusan (Pemasaran) (UTM) Sarjana Muda Sains Komputer (Perisian Grafik & Multimedia) (UTM) Sarjana Muda Sains Komputer (Rangkaian & Keselamatan) (UTM) Professional License Aircraft Maintenance License Technician (AML-T) DCAM-PT-66 CAT A1 Aircraft Maintenance License Engineer (AML-E) DCAM-PT-66 CAT B1-1 Sijil Kemahiran Malaysia (SKM) / Short Course Lukisan Pelan Senibina / Juruteknik Elektrik / Teknologi Automotif / Pembuatan Pastri Program Tajaan Ground Handling Management (GHM) PTPTN Bahagian Pengurusan Kemasukan Pelajar UPU KWSP YAYASAN PENERAJU UPEN PTPK TAPEM YAYASAN NEGERI ZAKAT MARA UNIVERSITI ISLAM ANTARABANGSA MALAYSIA (IIUM) UNIVERSITI KEBANGSAAN MALAYSIA (UKM) UNIVERSITI KEBANGSAAN MALAYSIA (UKM) UNIVERSITI MALAYA UNIVERSITI MALAYSIA KELANTAN (UMK) UNIVERSITI MALAYSIA PAHANG (UMP) UNIVERSITI MALAYSIA PERLIS (UNIMAP) UNIVERSITI MALAYSIA SABAH (UMS) UNIVERSITI MALAYSIA SARAWAK (UNIMAS) (KOTA SAMARAHAN) UNIVERSITI MALAYSIA TERENGGANU (UMT) UNIVERSITI PENDIDIKAN SULTAN IDRIS (UPSI) UNIVERSITI PERTAHANAN NASIONAL MALAYSIA UNIVERSITI PUTRA MALAYSIA (UPM) UNIVERSITI SAINS ISLAM MALAYSIA (USIM) UNIVERSITI SAINS MALAYSIA (USM) UNIVERSITI SULTAN ZAINAL ABIDIN (UNISZA) UNIVERSITI TEKNIKAL MALAYSIA MELAKA (UTEM) UNIVERSITI TEKNOLOGI MALAYSIA (UTM) UNIVERSITI TEKNOLOGI MARA UNIVERSITI TUN HUSSEIN ONN MALAYSIA (UTHM) UNIVERSITI UTARA MALAYSIA (UUM)

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  • ong 65e06Throughout my studies in ICYM, I have encountered many challenges and obstacles. However, I was lucky enough to be given the opportunity to gain knowledge here and also to engage in co-curriculum activities organized by the college. For me, ICYM is the best choice. 

    Ong Wei Sin • Diploma in Marketing • Best Student

  • fadzlina c3e6cI think ICYM has done a great job, especially during my student’s life in campus. I like the multi-cultural environment in ICYM that depicts the feel of 1 Malaysia. During my studies in ICYM, I have became more confident, able to improve my skills and possessed the sense of believing my self. As a whole ICYM was able to overtime any locking. I will definitely introduce ICYM to my friends.

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  • asyrafabMy learning experience in ICYM was very good and interesting and I can learn a lot about animation technology. Lectures in ICYM are very experienced in this industry compared to other colleges. They taught us all the knowledge about animation so the that we can improve our experience in the animation industry today.

    Mohd Asyraf Abd Rahman • Diploma in Animation, Lead Animator, Les’ Copaque Production

  • leekamThere is always a motivating environment in ICYM drives me to success. Spending time together with lectures and friends enable us to learn our own mistakes. Learning experience has turned me into an all-rounded individual. It was an extraordinary experience for me.

    Lee Kam Shann • Diploma in Multimedia Technology Best Student

  • asyrafI am grateful to be given the opportunity to study in ICYM as I am able to increase my knowledge in Animation, theoretically and practically. ICYM is definitely the right choice for those who want to learn in the field of Animation because the college has provided the complete and conducive environment for learning as well as practical experiences. 

    Asyraf Abdullah • Diploma in Animation Technology ,Senior Render Artist & Technical Manager, Les’ Copaque Production

  • intanBecoming an ICYM graduate is a prestigious acknowledgement. I would like to thank all my lecturers for their dedications and self esteems, as well as having the reputation as honourable academicians and educators. I am really touched by their personality and professionalism shown. Thank you for guiding and transforming us for what we are today.

    Intan Safinas Haji Abdul Samat • Diploma in Media Technology Executive, Education & Training