Write about Faith Integration(Bible) and how it relates to Finance Management.© BrainMass Inc. brainmass.com October 10, 2019, 7:31 am ad1c9bdddf
FAITH INTEGRATION AND FINANCIAL MANAGEMENT
What is financial management?
According to Keown et al. (2002), financial management is concerned with the maintenance and creation of economic value or wealth. It deals with financial decisions that include: when to introduce a new product, when to invest in new assets, when to replace existing assets, when to borrow from banks, when to issue stocks or bonds, when ...
Financial Management involves decisions that would create economic value and wealth for the firm. Core decisions may fall under major categories such as whether to produce a new product or not, how to raise capital, and how funds should be allocated among various financing needs of an organization. In the formulation and implementation of these decisions, faith must be integrated. This is evidenced by the fact that one of the principles of financial management is the principle of ethical behaviour which is doing the right thing in order to maintain trust and confidence of stakeholders. Compliance to this principle would allow business to continuously interact with buyers, investors, lenders, suppliers, and other forms of stakeholders.