Finance training is a process of providing skills and means to finance professionals to enable them to manage the financial activities of the organization. Financial training should not only focus on accounting procedures but also on financial management. Accounting and Finance are often used together and seem to be similar. But there is a significant difference between the two. The difference between finance and accounting is that accounting relates to the flow of money in and out of an organization, whereas finance relates to the management of money, assets, and liabilities and the planning of future growth.
What is Finance?
Finance is characterized as money management, which includes investing, borrowing, lending, budgeting, saving, which forecasting activities. It deals with the attribution overtime of assets, liabilities, and funds.
Types of finances:
Personal Finance: Personal Finance deals with the financial activities of an individual and helps them manage their savings and investments. Corporate Finance: Corporate Finance deals with the management of the financial activities of companies.
Public Finance: Public Finance deals with the financial affairs of government departments and public sector institutions. The other two famous terms in Finance are Microfinance and Trade Finance.
Basic finance: Basic financial management includes the management of business operations and keeps them within budget. It also deals with liabilities and investments of the business.
Elements of financial management:
The following are the main elements of financial management:-
5. Decision making
Finance Careers: Studying finance can prepare one not only for careers in the financial services sector but also for individual financial matters in their life. Mainly career options are available for finance personals in areas like Banking Sector, Wealth Management, Corporate finance, Accounting, Financial Planning, Treasury, Audit, Insurance, etc.
Learning Objectives: Upon completion of this course, one will understand Income statements, Balance sheets, Cash dividends, Financing and debt, Ratio analysis, and many other advance terms related to Financial Management.
Financial training courses in Chandigarh provide the required knowledge on how to manage the finances properly.