Financial management in emergencies involves planning, organizing, controlling, and reporting on an organization's financial resources to achieve its goals. It helps manage risks and resources strategically. Key challenges include maintaining accounting records and cash flow in difficult environments, following procurement procedures when markets are devastated, exercising budgetary control when pressures to spend are high and situations change rapidly, and satisfying the different requirements of multiple donors funding one project. Achieving good practice requires robust yet practical financial systems, accountability, transparency, and skilled staff that integrate financial management into program delivery.