Finance In simple term '' Finance'' denotes wealth or money. Like a man cannot live without blood, business and economic system cannot run without finance, so it is regarded as the life blood of business system. Finance is the art of allocating assets and liabilities over the time for certainty and uncertainty. In other word, finance is the science of describing the management, creation and study of money, banking, credit, investments, assets and liabilities. Finance consists of financial systems, which include the public, private and government. Finance is the main means of mobilization of funds, the method of allocating, acquiring and managing fund is known as finance.
According to Lawrence J. Gitman: ''Finance can be defined as art and science of managing money. ''
Finance is a branch of economics concerned with resource allocation as well as resource management, acquisition and investment. It deals with money and the markets to raise money through the issuance and sale of debt or common stock.
Finance is the science of management of money.
According to John J. Hapton: The term finance can be defined as the management of the flows of money through an organization.
Thus, we can conclude the term finance as the decision related activity of individual, agencies, government and private organization to acquire and allocate the fund.
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