definition of financial management & financial Science

 financial management
Financial management is one of the key positions in businesses where these functions include addition of the finance function and the production function and marketing function and function of procurement and stores
Known as financial management decision-making process related to access to funds optimally and invest these funds efficiently enough to maximize the market value of the company
The science funding is defined on the basis that the art and science which relates to the management of funds
Historical development of financial management :
At the beginning of the twentieth century until the fifties of this century was characterized by simple financial management and attention to the qualitative aspects such as keeping books and records .
Since the fifties to mid - sixties of the twentieth century, attention was focused on financial management decisions regarding capital budget evaluation of fixed capital .. The concept of exposure to some of the criticisms of the most important:
1 - financial management focus on the external perspective of the job , rather than focusing on the decision - making
2 - focus on the big issues of corporate finance and neglect issues of small projects
3 - Focus on long - term funding issues and neglect issues of Working Capital Financing
Since the sixties has been the development of the theory of investment portfolios due to the increased interest of companies to achieve profitability by investing in projects

Divided financial components : (financial services & financial management)
Financial Services : Is that part who cares about the design and delivery of service and financial advice to individuals , businesses and governments
Financial Management
: concerned with the duties of chief financial businesses , where managers Financial management of the financial affairs

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