DESCRIBE some of the tasks that demonstrate the importance of good financial management

Some of the tasks that demonstrate the importance of good financial management Taking care not to over invest in fixed assetsBalancing cash-outflows with cash-inflowsEnsuring that there is a sufficient level of working capitalSetting sales revenue targets that will deliver growthIncreasing the Gross profit by setting the correct pricing for products or servicesControlling the level of general and administration expenses by finding more cost-efficient ways of running the day-to-day business operationsTax Planning that will minimize the taxes a business has to pay