What do you mean by Finance| What is finance?

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According to khan & Jain: “Finance is art and science of managing money”.it includes financial service and financial instrument, finance is also referred as the provision of the money at the time when it needed. Finance function is the procurement of fund and its proper utilization in the business.

Business concern need finance to meet their requirement in the today world. Any business need money for its proper function. So money is called the lifeblood of the organization. Without finance we cannot imagine proper functioning of our economic system and country’s import & export.

Finance can be divided in two parts: Private finance & Public finance.

Private Finance: Individual Finance, partnership finance and business finance, it menas finance related to Individual, firm business, Corporates called Private finance.

Public Finance: Finance related to Central government, state government & semi government are called Public Finance.

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