Finance is a wide discipline and it studies how money is acquired through various sources and its management. Every business entity needs funds to carry out its operations of marketing, planning, manufacturing, sales, production, etc successfully. The objective of businesses is to acquire wealth and to use it in the best way to meet economic needs. It is essential for business owners to have knowledge and understanding of finance to run their business successfully and earn profits. There are basically four elements of finance. Book-keeping accurately records the financial data and transaction to provide financial information. Accounting that evaluates past results and events. Planning which helps in making strategies for future growth and development and Cash Management ensuring efficient management of scare resources. Finance is divided into various categories like Corporate Finance, Personal Finance, Public Finance, International Finance and Behavioral Finance. Studying finance is essential to understand the economic environment and scenario, to manage personal finances and its application to the business.
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