Definition -1
The science of the management of money in the form of cash/bank/forex and other assets and liabilities. It can of individuals or firms or company or Govt or any entity having the above.
Definition 2
Finance is the science of funds management. The general areas of finance are business finance, personal finance, and public finance.
We are now concerned about business finance. Mostly motives of every business company are :
1. To meet the vision and mission of the company.
2. To earn reasonable return to shareholders.
3. To keep its employees capable of generating revenues and keep improving them in their efficiency by training.
4. Taking care of employee welfare.
5. To do some social benefit to society to which it belongs.
Finance plays its part in every sphere where fund is involved to achieve the above motives of the business.
Finance Functions:
1. Overseeing proper Accounts maintenance including finalization of accounts.
2. Fund management
3. Cash flow management
4. Budgetary controls.
5. Costing controls.
6. Tax matters
7. Audits.
8. Forex management.
9. Project Analysis control.
10. Pay roll accounting.
11. Asset Management
Great
ReplyDelete