To be successful in the field of financial management, it is imperative that the financial manager is knowledgeable of all aspects of the business organization. It is critical for the financial manager to actively participate in decision-making process before a business decision is made to minimize financial loss or maximize the financial wealth of the organization. Identify and discuss three financial management concepts that every financial manager should understand.

In your discussion, be sure to include: -

An introduction to the concept(s) -

Why it is important for a financial manager to understand the concept(s) that you have identified -

What key elements must the financial manager understand about the concepts that you have identified