Finance is the base of business, in the absence of which neither can any business be stared nor can grow. Financial management is skin to the financial arrangements in which an efficient operation for achieving the projected objectives can be ensured. It is said that financial management means managing for any organisational health with finance, Which is also required as the life blood of any organisation. Establishing for any commercial organisation and requisite sources for it. Such as land, building raw material, plant & machinery furniture and other infrastructure etc. Payment of general expenses and for distribution an adequate amount of finance is needed. 

Definitions of ‘financial management’:- Various scholars have defined in different ways as their perception and belief, some of significant definitions are as follows:- 

(i) According to the Howards upon,” financial management is the application of the planning and control function to the finance function,” 

(ii) According to Guthmann & Dougall,” Business finance is the activity concerned with the planning, raising, controlling and administering the funds used in business.” 

(iii) According to J.L massie,” financial management in the operational activity of a business that is responsible for obtaining and effectively utilizing the funds necessary for efficient operations.”