Objectives and Importance of FM 7 Elements of FM

Business 1
Introduction to business studies

Business 2
Contents
Introduction......................................................................................................................................4
Chosen organizational background..................................................................................................5
Define Financial management.........................................................................................................6
Objectives and importance of FM...................................................................................................7
Elements of FM...............................................................................................................................8
FM strategies...................................................................................................................................9
Different Financial statements.......................................................................................................10
Recommendations..........................................................................................................................11
Conclusion.....................................................................................................................................12
References......................................................................................................................................13

Business 3
Introduction
The report outlines the process of financial management used in business process management.
As financial management is too effective in the organizational process as it improves the overall
aspects of the business. Financial management is also used for maintain the funds required for
the business management. The report includes the objectives of financial management and
importance of financial management. The several strategies and elements of FM will also be
discussed in this report. manager is responsible for maintaining all relations with the employees
and their trade. The report describes the various aspects related to financial management which
helps the business in proper manner. Tesco organization is selected in this report to analyse the
financial process of the organization. The various financial statements will be discussed in this
repot that helps in the proper financial management. The several recommendations regarding the
financial management in the organization will be discussed in the report.

Business 4
Chosen organizational background
The organization selected in this report is Tesco and the financial management of Tesco will be
evaluated in the further parts of the report. Tesco is a British multinational groceries and general
merchandise organization. It is one of the largest supermarkets in UK that needs proper financial
management in their business management. Tesco includes as a third largest retailer in the world
as per the revenues. The financial management improves the overall strategies of the business
and maintain the retailing process of the business. Tesco needs proper management of financial
aspects as the company expands itself at global level as this management needs proper
improvement in the business (Salikin, et al., 2014). The business expanded rapidly and improves
overall process of the business by maintaining various financial aspects of the business.