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By Bhupendra Ratha, Lecturer School of Library and Information Science Devi Ahilya University, Indore Email: bhu261@gm

Financial Management. By Bhupendra Ratha, Lecturer School of Library and Information Science Devi Ahilya University, Indore Email: bhu261@gmail.com. Finance . Finance is the foundation of business. No business can be started finance nor its development is possible.

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By Bhupendra Ratha, Lecturer School of Library and Information Science Devi Ahilya University, Indore Email: bhu261@gm

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  1. Financial Management By Bhupendra Ratha, Lecturer School of Library and Information Science Devi Ahilya University, Indore Email: bhu261@gmail.com

  2. Finance • Finance is the foundation of business. No business can be started finance nor its development is possible. • The success of business depends upon the sufficient finance and its effective management.

  3. Financial Management • It is the part of business management in which included • Financial planning • Capitalization and capital structure • Product prizing • Profit policy • Budgeting and its control

  4. Characteristics of Financial Management • Continues process • Less descriptive and more analytical • Centralized nature • Wide scope • Helpful in decision making • Measurement of performance • Application to all types of organizations.

  5. Functions of Financial Management • Planning for funds • Allocation of resources • Control of funds • Allocation of income • Coordination with other departments • Routine function • Keeping record of every transaction and account safely • Keeping the cash balances properly and safely • Securities of important documents • Management of pension and welfare schemes • Providing information to top management • Obeying government rules and regulations

  6. Important of Financial Management • Basis of success • Optimum allocation and utilization of resources. • Measurement of performance and efficiency • National important • Useful for business managers • Useful for customers or users • Useful for society

  7. Principles of Financial Management • Spending institution • Growing institution • Requiring demand for money • Financial allocation • Per capita method

  8. Financial Management in Library • Sources of income in library • Government grant • Library fees • Endowments and donations • Fines and penalties • Other sources • Items of expenditure in library • Staff salaries • Books and other reading material • Equipments • Communication and correspondence • General overheads

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