Meaning And Definition Of Finance Pdf
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- Public finance
- Definition of Finance Functions
- Financial Management - Meaning, Objectives and Functions
- Financial Management: Definition, Features, and Scope
Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers. It is categorized under Indirect Tax and came into existence under the Finance Act, Description: In this case, the service provider pays the tax and recovers it from the customer.
The present age is the age of industrialization. Large industries are being established in every country. This article explains about Financial Management and their important topics — meaning, definition, features, and scope. It is very necessary to arrange finance for building, plant and working capital, etc. How much of capital will require, from what sources this much of finance will collect and how will it invest, is the matter of financial management?
Definition of Finance Functions
Business finance , the raising and managing of funds by business organizations. Planning, analysis, and control operations are responsibilities of the financial manager, who is usually close to the top of the organizational structure of a firm. In very large firms, major financial decisions are often made by a finance committee. In small firms, the owner-manager usually conducts the financial operations. Much of the day-to-day work of business finance is conducted by lower-level staff; their work includes handling cash receipts and disbursements, borrowing from commercial banks on a regular and continuing basis, and formulating cash budgets. Similarly, the use of additional debt can raise the profitability of a firm because it is expanding its business with borrowed money , but more debt means more risk. Short-term financial operations are closely involved with the financial planning and control activities of a firm.
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Financial Management - Meaning, Objectives and Functions
The contract governing your open-end credit account, it provides information on changes that may occur to the account. The payment history of an account over a specific period of time, including the number of times the account was past due or over limit. Any and all persons designated and authorized to transact business on behalf of an account.
Financial Management: Definition, Features, and Scope
Financial management may be defined as the area or function in an organization which is concerned with profitability, expenses, cash and credit, so that the "organization may have the means to carry out its objective as satisfactorily as possible;"  the latter often defined as maximizing the value of the firm for stockholders. Financial managers  FM are specialized professionals directly reporting to senior management , often the financial director FD ; the function is seen as 'Staff' , and not 'Line'. The function also entails the efficient and effective day-to-day management of funds, and thus overlaps treasury management. It is also involved with long term strategic financial management , focused on i.
Financial Management means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds of the enterprise. It means applying general management principles to financial resources of the enterprise. Investment decisions includes investment in fixed assets called as capital budgeting. Investment in current assets are also a part of investment decisions called as working capital decisions. Financial decisions - They relate to the raising of finance from various resources which will depend upon decision on type of source, period of financing, cost of financing and the returns thereby. Dividend decision - The finance manager has to take decision with regards to the net profit distribution.
October 3 Written By: EduPristine. Finance is a major and vast topic to cover. Accounting and Finance are often used together, and some even deem it to be similar. But there is a significant difference between the two.
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