Introduction to Finance
Finance simply denotes the monetary terms and their related queries.From an auto rider to a billionaire, everyone needs adequate funds to run their expenses and other needs.This is where the need for the finance emerges.
Finance denotes the requirement of funds, the utilization of funds, savings and the available resources to acquire the proper funds.Lack of finance knowledge hinders the progress of an individual or any giant organization.
Types Of Finance
There are different aspects of life.Finance is not confined to a small area of specification rather it applies to every field which requires money as a fuel.So, there are three categories of finance:
1. PERSONAL FINANCE
The techniques of finance applied in maintaining household expenses sums up the personal finance.This includes making a budget and carry on the other personal expenses accordingly.Retirement plans, proper investment for a better future also counts in the personal finance.
Moreover, future uncertainties and other risks are also highlighted in personal finance.
The activity which counts in funding the capital fund of the corporation and maintain a good worth and goodwill in the market.The capital of the corporation is taken into consideration so as to provide good benefits to the shareholders.
It also enables you to allocate the financial resources and the best way to acquire funds for the proper functioning of the corporation.No matter what operations the organization wish to undertake, the absence of funds hinders the implementation.
States, schools, municipalities and other public entities are summoned when Public finance is notified.This type of finance depicts various analyzation in terms of expenditure and other funds required for the smooth functioning of the public organizations and other entities.
As these entities define our society or a country as a whole.So a proper analysis is done to eradicate any flaws in the future.