JKBOSE Class 12th business studies unit 9 PDF 2022 (Business Finance)
Introduction to Business Finance or Finance Management
Every enterprise, whether big, medium or small needs finance to carry on its operations and achieve its targets. Finance may be defined as the provision of money at the time when it is required. It refers to the management of flow of money in an organization. Business finance is referred to an activity or a process which is concerned with acquisition of funds, use of funds, distribution of profits by a business firm. Finance may also be raised by issuing debentures and taking loan from banks and financial institutions. Financial management deals with planning, organizing, directing and controlling financial activities of the enterprise. It is concerned with optimal procurement and effective utilization of funds in a manner that the risk, cost and control considerations are properly balanced in a given situation.
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