Basic concept about finance - What is finance? Definition of financial Services, Definition of managerial finance

Basic concept about finance and business.

The field of finance is broad and dynamic. Finance influences firms do, from hiring personnel to building factories to launching campaigns. Because there are important financial dimensions to almost any aspect of business, there are many financially oriented career opportunities for those who understand the basic principles of finance. Even if you do not see yourself pursuing a career in finance, you'll find understanding of a few key ideas in finance will help make you a smarter consumer and a wiser investor with your own money.

What is finance?

Finance can be defined as the science and art of managing money. 

At the personal level, finance is concerned with individuals' decisions about how much of their earnings they spend, how much they save, and how they invest their savings. 

In business context, finance involves the same types of decisions how firms raise money from investors, how firms invest money in an attempt to earn a profit, and how they decide whether to reinvest profits in the business or distribute them back to investors.

Definition of financial Services: 

Financial services is the area of finance concerned with the design and delivery of advice and financial products to individuals, businesses, and governments. It involves a variety of interesting career opportunities within the areas of banking, personal financial planning, investments, real estate, and insurance.

Definition of managerial finance:  

Managerial finance is concerned with the duties of the financial manager working in a business. They perform such varied tasks as developing a financial plan budget, extending credit to customers, evaluating proposed large expenditures, and raising money to fund the firm's operations.