What is Financial Management? It’s all about money, honey! This is what we all say when it comes to money matters. Financial Management is the process of managing the finances of the organization to achieve its financial objectives. The whole objective of any Financial Management is to aim at a positive cash flow at the end of the day. If this objective is not attained for any reason then it is a clear case that there is something terribly wrong with the whole system of financial and money management. The situation indicates a clear case of bad and poor financial management. Better Financial Management means managing the resources of an organization or an enterprise in such a way that there is a positive cash flow. That is why some experts refer to Financial Management as the science of money management. Look at some of the biggest economies of the world today. They are on the brink of a total collapse and bankruptcy. Just in one year the whole country called Iceland has gone bankrupt. And the result was because of bad financial and economic management. Look at the ancient country like Greece which is on the verge of bankruptcy. The European Union and the IMF are working on a bail out plan of $150 billion. All the biggest economies of the world are showing negative GDP growths and are also suffering worst ever recessions. There are thousands of bankruptcy cases in the US alone every year. We are all going through the effects of the global financial crisis. All this points towards bad money management and poor financial management. And all this is also pointing towards a bad and poor leadership!!