Finance is defined as the provision of money at time when it is required. Finance plays a very important role for the successful of our business. Business is either big or small needs finance. As blood is necessary for the human being similarly finance is required for every business to run in successful way. Financial management is an area of financial decision making, harmonized individual motives and entrepreneurial goals.
Two types of finance:
Financial management is concerned with the proper utilization of funds. When proper utilization of funds then it is very helpful to the earn maximum profit in the funds. When use proper funds then various alternatives is finding to take the business. So that to take the final decision all the alternatives studied in detail.
Two types of finance:
- Public finance
- Private finance
- Public finance is those finance in which overall control by the government like Govt. institution, state government, central government, local government institution.
- Private finance these are that finance in which are controlled by privately and no interference involved of government in private finance like personal finance, business finance, finance of non-profit organization.
Financial management is concerned with the proper utilization of funds. When proper utilization of funds then it is very helpful to the earn maximum profit in the funds. When use proper funds then various alternatives is finding to take the business. So that to take the final decision all the alternatives studied in detail.
Financial management is an area of financial decision making, harmonized individual motives and entrepreneurial goals.
Foreign companies (U.S.A co.’s) are more successful in the world. The main reason is that first of all proper utilization of funds and proper technique of the business. So that top most of the entrepreneur in the U.S.A companies.