Final answer:
The statement is false as financial management is intertwined with other business functions like marketing. Marketing decisions influence and are influenced by financial strategies, highlighting the essential relationship between these areas of management.
Step-by-step explanation:
The statement 'Financial management cannot be related to other functional areas of management such as marketing' is false. Financial management is closely related to various other functional areas of management, including marketing. For instance, the budget for marketing campaigns is determined by the financial health and policies of a company. Similarly, marketing strategies can directly impact sales, which in turn affect the overall financial performance of a business.
Understanding customer preferences, market trends, and the competitive landscape can directly influence pricing strategies, product development budgeting, and investment in promotional activities. This is where marketing intelligence feeds into financial planning and strategy, underscoring the synergy between marketing and financial management. Success in one area can lead to success in another, and vice versa, demonstrating the interconnectivity of these business functions.