Financial management has a role in the life of a company determined by the economic development of capitalism. At the beginning of the birth of capitalism as an economic system in the 18th century, financial management only discussed profit and loss. Furthermore, in succession he has a role as follows:1. Early 1900: Securities issuer2. 1930 - 1940: bankruptcy, reorganization3. Year 1940 - 1950: budget & internal audit4. 1950 - 1970: external company5. 1970 - 1980: inflation6. 1980 - 1990: financial economic crisis7. 1990 - present: globalization
The development of financial management is strongly influenced by various factors including monetary policy, tax policy, economic conditions, social conditions, and political conditions. Monetary policy is related to interest rates and inflation. Especially inflation has a direct impact on financial management, including problems:1. Problems with accounting2. Planning difficulties3. Demand for capital4. Interest rates5. Bond prices decline
Economic conditions also have a direct impact on financial management among other problems:1. International competition2. International finance3. The exchange rate fluctuates4. Marger, takeover and restructuring5. Financial innovation and financial engineering
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