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To avoid the problem of shortage and surplus of funds, what is required in financial management? name the concept and explain its points.

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Question added by david peter
Date Posted: 2017/05/19
Saqeeb Khan
by Saqeeb Khan , Project Accounting Analyst , Oracle

In order to avoid the problem of shortage and surplus of funds, financial planning is required in financial management. Financial Planning involves designing the blueprint of the financial operation of the firm. It ensures that the right amount of funds are available for the organizational operations at the right time and thereby, ensuring smooth functioning of an organization.

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