Name: Maricel V.

Celmar
Course & Year: BSBA – FM 4

SPECIAL TOPICS IN FINANCIAL MANAGEMENT

1. Financial management involves the strategic planning, analysis, and control of an organization's
financial resources to optimize its financial performance and achieve its goals. It encompasses
activities such as capital budgeting, financial forecasting, risk management, and investment
decisions. Managerial accounting, on the other hand, focuses on providing internal financial
information to aid in decision-making within the organization. It involves tasks like cost analysis,
budgeting, variance analysis, and performance measurement, offering insights that guide
managers in making informed operational and strategic choices. While financial management
addresses the broader financial health and strategy of an organization, managerial accounting
emphasizes tactical insights for efficient day-to-day operations.

2. Special topics in financial management, such as risk management, sustainable finance, and global
financial trends, are highly relevant in the current business environment due to increased market
complexities and evolving societal expectations. Businesses face intricate challenges like
managing environmental and social impacts, navigating international markets, and addressing
technological disruptions. Understanding risk exposures, implementing sustainable financial
practices, and staying informed about global financial dynamics are essential for organizations to
make informed decisions, ensure long-term viability, and align with ethical and regulatory
demands, thus enhancing their competitiveness and resilience in today's rapidly changing
landscape.

3. Ikigai is a Japanese concept that represents the convergence of four fundamental elements in life:
what you love, what you are good at, what the world needs, and what you can be paid for. It's the
sweet spot where passion, profession, vocation, and mission intersect. Ikigai is important because
it offers a holistic framework for discovering purpose and meaning in one's life and work. It
guides individuals to find fulfillment by aligning their personal aspirations, talents, societal
contributions, and financial sustainability. By identifying and pursuing their Ikigai, individuals
are more likely to experience greater satisfaction, motivation, and a sense of accomplishment,
leading to a more balanced and purposeful life.

4.