Major Areas of Finance

Major Areas of Finance
Major areas of finance is also known as fields of finance and we have following areas:

a) Personal Finance : The financial decision made by the individual and households is known as personal finance. Under personal finance we study how the individuals allocate their income between consumption and investment.

b) Government Finance: Government finance is also known as public finance and it is the study of government agencies and it consists of theories of taxation, issue of treasury bills, budget formulation, asset management, and fiscal year planning..
c) Corporate Finance: Corporate finance is also known as business finance and it is related with the business firms financial decision and allocation. It deals with the acquisition and financing management of firms assets which maxmimizes the share holders wealth.

d) Financial Market and Institution: Finance also studies the financial market like money market, capital market, security market and derivative market . Similarly, it also studies the institutions like commercial banks, insurance companies, finance companies, provident funds, pension fund, cooperative organization.