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Areas of Finance
Finance is concerned with the management of
a) Owner funds
b) Raised funds
c) Borrowed funds(loans, overdrafts, etc).
Finance is the soul of economic activities.
The features of the areas of finance are:
Financial Markets and Institutions:
A Financial institution is an enterprise whose primary function is to collect money from the public and invest it in the financial assets such as stocks and bonds like the banks are the best example of a financial institution. A Financial market is an organized organizational structure where the buying and selling of the financial instruments occurs.
a) IInvestments: The process of managing the money by putting it into various financial instruments with an aim to receive the return is investment.
b) Managerial Finance : Deals with the investment and financial decision of the firm. It requires a proper resource management.
The major areas of finance are as follows:
a) Corporate Finance : It examines the company policy and managerial decisions. It is the activity which provides fund for a corporation’s activities. It involves balancing the risk and profitability while attempting to maximize an entity’s wealth and value of its stock. The finance planning for the corporate finance can be divided into Long-Term and Short-Term decisions and techniques.
b) Personal Finance : It means the financial decisions which an individual requires for his personal or family expenses keeping in mind about the savings and spending of his monetary resources keeping in account various needs, financial risks and future life events .The individual considers about his or her needs with a various range of investments in either banking products or insurance products , investments , income tax management, retirement planning, money management, estate planning, children education and savings for future.
c) Public finance: It is the study of the role of the government in the economy. It is defined as the science which deals with the activity of the statesman in obtaining and applying the material means according to the necessity for fulfilling the proper functions of the state. It describes the management, creation of money, banking, credit, investments assets and liabilities.
The main perspective of public finance effects government on three ways:
1) Allocation of the resources efficiently
2) Income distribution
3) Macroeconomic stabilization
