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Finance deals with scrutiny of assets and liabilities, balancing them to maximize profit in an organization. Finance incorporates the concepts of business management and economics in efforts of managing the flow of money in an organization. It is finance that makes us sensitive to the time value of money creating awareness that purchasing power per unit of currency is variable with time. Finance can be further broken down into:
Most often than not, knowledge of financial management is a precondition that is in personal, business, or social. An in-depth knowhow of financial matters is vital to run any business successfully. A shrewd and clever financial management is an essential feature of any successfully running business venture. Money matters pertaining to any commercial venture or personal finance, and their skill at handling of the finance, its mobility and expense requires formal training and tutelage.
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