![]() Investment and wealth accumulation goalsĬorporate Finance is about funding the company expenses and building the capital structure of the company.Preparing for long term expenses or purchases involving a huge amount.Managing taxes and complying with tax policies (tax subsidies or penalties).Transfer of wealth across generations of the family.Protection against unforeseen and uncertain personal events.Personal finance includes investment in education, assets like real estate, cars, life insurance policies, medical and other insurance, saving and expense management. Personal Finance is specific to individuals and the strategies depend on the individuals earning potential, requirements, goals, time frame, etc. Personal Finance is managing the finance or funds of an individual and helping them achieve the desired goals in terms of savings and investments. Finance is majorly divided into three segments: Personal Finance, Corporate Finance, and Public Finance. In other words, managing or multiplying funds to the best in interest while tackling the risks and uncertainties. So, let us understand what is finance?įinance is the allocation of assets, liabilities, and funds over time, process, mediums to reap the most out of the activity. The article will cover what is finance, what are the types of finance, and the different classes of financial instruments. But there is a significant difference between the two. Accounting and Finance are often used together, and some even deem it to be similar. Finance is a major and vast topic to cover.
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