![]() The New as well Cas the Existing organization needs a substantial amount of money/finance to meet its all sorts of requirements for the smooth conduct of its business activities and for its long-run stability & sustainable growth.Įach and every activity will begin with cash and ends with cash (cash to cash-operating cash cycle) since money/finance is accepted as the universal medium of exchange to deal with all economic or financial activities. Finance as a resource and as an academic discipline. As a resource it is considered as life blood for individual life and also in public life. In the present vibrant, versatile, dynamic world scenario there is increasing importance for ‘finance as a resource’ and as an academic discipline in every field, in private life and public life. What is Finance: Meaning, Definition, Aims, Nature, Scope, Characteristics, Classification, Significance, Importance, Functions, Factors and More… What is Finance – An Overview of Finance Financial Decision and Risk Return Trade-off.Classification of the Duties and Responsibilities of Finance Executive.Relationship of Finance to Other Activities.Organization Structure of Finance Function.Long term Sources of Finance for a Joint Stock Company.Types of Finance Required by a Business Concern.Scope of Finance in Various Areas of an Organization.Phases in Evolution of Finance as a Discipline.Hastings – ‘Finance is the management of the monetary affairs of the company’. Finance consists of financial systems, which include public, private and government bodies and the study of finance and financial instruments, which can relate to countless assets and liabilities.Īccording to Paul. Finance act as a medium for business which involves the acquisition and usage of funds in various departments such as production department, purchase department, research and development etc.įinance also refers to the science that describes the management, creation and study of money, banking, credit, investments, assets and liabilities. Finance can also be interpreted in many ways such as fund, money, investment, capital, amount etc. The term finance is derived from the Latin word ‘finis’ which means end/finish. In the absence of finance, nobody can imagine either of setting up a business or its operations and development. Particularly in production and marketing activities, finance functions in the same way as oil functions in the operation of machines or blood functions in the human body. Finance is considered to be the foundation of basic activities of any business.
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