Understanding Business Finance: Essential Concepts Explained
Explore the world of business finance with Dr. Subrata Bhowmick as he delves into the fundamentals of managing funds, the nature of business finance, and its significance. Discover how different types of funds are essential for business operations, and learn how a good financial background can mitigate risks and attract talent.
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BUSINESS STUDIES DR. SUBRATA BHOWMICK ASSIST. PROF. DEPT. OF MGMT.
BUSINESS FINANCE The raising and management of funds by the business organizations is called business finance. Planning the financial need, analyzing the requirement, controlling the operations are the responsibilities of the financial manager, this person is closely related to the top-level management team. Business finance refers to the funds needed to start a business, operate it, and expand it in the future. Funds are needed to acquire tangible assets like furniture, machinery, buildings, offices, and factories, as well as intangible assets such as patents, technical experience, and trademarks, among other things.
Aside from the assets listed above, the day-to-day operational operations of a corporation also require cash. Purchasing raw goods, paying employees, bills, and collecting money from clients are all examples of this activity. To sustain and expand a business, you must have a significant quantity of money.
NATURE OF BUSINESS FINANCE The enumerated in the points mentioned below Business Finance consists of different kinds of funds short, medium and long term as and when required by the business. Any type of business needs this business finance, it is utmost for the organization. nature of the business finance is
The volume required differs from business to business, small business requires less business finance in contrast to the large business firms. In different times of the business season, requirements differ. In peak seasons business demands for huge business finance. The amount of business finance determines the scale of operations conducted by the company.
SIGNIFICANCE OF BUSINESS FINANCE A firm with a good amount of business finance will require less time and hassles to start the business venture. With the business finance in hand, the owners can buy the raw materials as needed for production. The business firm can easily pay his dues and other payments with the help of business finance.
Uncertain risk and Contingencies can be tackled with business finance in hand. Good financial capacity of the business will attract talented workforce, efficient technology can also be available with a strong financial background. also highly
