The Role of Financial Management in a Firm

Summarize the role of management as it relates to finance in a corporation.  In your post, address the following:

• Indicate the various aspects of finance that management must understand.
• Describe why a manager needs to understand the characteristics and importance of financial markets including risk and efficiency.
• Describe why cash flow is more important than sales in a business.
• Discuss what could happen if management does not fulfill responsibilities related to finance.  If you have one, share a real world example from your own professional experience or from an external source.