In 4th-5th century Mesopotamia, Egypt, Greece, Rome were having their own banking activities which were becoming more specialized private and public bodies. Temples also started undertaking more financial activities governed by specific rules and regulations. In INDIAN history Manu Samriti provides rules for trading, commerce and money. The Arthshastra by Kautylaya also prescribed extensively the norms of trading, commerce, lending [...]
After reading this article you will learn about:- 1. Meaning of Management Principles 2. Nature of Management Principles 3. Significance 4. Universality. Meaning of Management Principles: Principle refers to fundamental truth about a concept that provides guide to action. Principles evolve in every field of knowledge — medicine, engineering, accountancy etc. Management principles tell about administration of business, that is, [...]
After reading this article you will learn about:- 1. Objectives of Financial Management 2. Scope of Financial Management 3. Functions. Objectives of Financial Management: The objectives of financial management are: (a) Profit Maximisation: The primary objective of organisation is to earn profits. The finance manager should undertake activities which maximise profits. Though conceptually profit maximisation seems to be an appropriate [...]