Finance Training in Chandigarh

What is Finance Management ?

Finance is the life blood of business. Without Finance  heart and brain of business cannot function properly thereby its natural death.

Right from conceiving the idea of birth of a business to its liquidation, finance is required.

Finance may be defined as the provision of money at the time when it is required. It refers to the management of flows of money through an organization. It concerns with the application of skills in the manipulation,use and control of money. Finance training in Chandigarh is the best place to learn Finance

Discussing Scope of Financial Management with Finance Training in Chandigarh?

The Financial management approach measures the scope of the financial management in various fields, which include the essential part of the finance. Broadly, it has two approaches:-

1. Tradition Approach
2. Modern Approach

Tradition Approach  :- The scope of finance was treated,in the narrow sense of procurement or arrangement of funds. The finance manager was treated as just provider of funds, when organization was in need of them. The administration resource was considered outside the purview of the finance function.

Modern approach :- The modern approach views the  financial management in a sense and provides a conceptual and analytical framework for financial decision-making. According to it, The finance function covers both acquisition of funds as well as their allocation.

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Roles of Financial Management with Finance Training in Chandigarh ?

 The role of Financial Management:-

1. Financial Planning and control:- Financial is a base for all the business activities. Business activities should be not only harmonized but also planning determination and implementation offer analysis of finance.

2. Essence of managerial Decision:-  Financial  provides a sound base to all important decisions. Financial management is the focal point in the process of decision making such as production, sale Employees,  Research & development decisions are based on Financial Management.

3. Financial Management is a scientific & analytics Analysis:- In the process of decision making and financial analysis modern mathematical techniques are used. It requires not only a feeling for the situation & an analytical & the knowledge to apply them and interpret the result.

4. Continuous Administrative Function:- In order times financial management was used periodically and its importance was limited to the procurement of funds but in modern times finance is a continuous administrative function.

        

5. Centralized Nature:- All business activities are centrally administered & control. All finance decision in business are taken at a central point. Functional area such as marketing & production are decentralized in the modern industrial concern.

6. Measure of Performance:-  Financial management deals with risk & uncertainty factors which are directly hit by profitable & risk. Thus, Financial management is needed for maintaining proper balance in risk & uncertainty.

To learn more about Finance you can join Finance Training in Chandigarh