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Introduction to Finance

Introduction to Finance

Definition of Finance: Finance is the act of providing the means of payment.

Finance consists of three interrelated areas: (1) Financial markets and institutions, (2) Investments and (3) Managerial finance.
- Besley & Brigham

Finance is the study of Markets and instilments that deal with cash flows over time.
- Ross, Westerfield and Jaffe

Definition of Business Finance:

Business finance is that business activity which is concerned with the acquisition and conservation of capital funds in meeting the financial need and overall objective of business enterprise.
- B.O. Wheeler

Business finance is concerned with the sources of funds available to enterprise of all sizes and the proper use of money or credit obtained from such sources.
- Prof. Gloss & Backer

Activities of a business concern relevant to financial planning co-ordination, control & their application is called business finance.
- E. W. Walker

Definition of Finance and Financial Management:
Financial Management is concerned acquisition, financing and management of assets with some overall goal in mind. Thus the decision function of function management can be broken down into three major areas: the investment, financing and asset management decision.
- James C. Vonhorn

Ethics as the normative science of the conduct of human beings living in society – a science which judges the conduct to be right or wrong, to be good or bad.
- William Lillie

Business Ethics:
Managerial ethics are standards of conduct and normal judgment used by managers of organizations in carrying out their business.
- Bartol & Martin

Business actually strengthens in competitive position by maintaining high ethical standards.


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