FUNCTIONS OF FINANCE

Jun 21st, 2015
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1.1 INTRODUCTION : Financial Management is nothing but management of the limited financial resources the organization has, to its utmost advantage. Resources are always limited, compared to its demands or needs This is the case with every type of organisation.

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FUNCTIONS OF FINANCE1.1 INTRODUCTIONFinancial Management is nothing but management of the limited financial resources the organization has, to its utmost advantage. Resources are always limited, compared to its demands or needs This is the case with every type of organisation. Proprietorship or limited company, be it public or private, profit oriented or even non-profitable organisation.1.2 FINANCE FUNCTION IMPORTANCEIn general, the term Finance is understood as provision of funds as and when needed. Finance is the essential requirement sine qua non of every organisation.Required Everywhere: All activities, be it production, marketing, human resources development, purchases and even research and development, depend on the adequate and timely availability of finance both for commencement and their smooth continuation to completion. Finance is regarded as the life-blood of every business enterprise.Efficient Utilisation More Important: Finance function is the most important function of all business activities. The efficient management of business enterprise is closely linked with the efficient management of its finances. The need of finance starts with the setting up of business. Its growth and expansion require more funds. The funds have to be raised from various sources. The sources have to be selected keeping in relation to the implications, in particular, risk attached.Raising of money, alone, is not important. Terms and conditions while raising

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