Importance of finance?
Answers
Finance is the functional process of business which helps to meet its goals and objectives with responsibilities for acquiring funds for the companies, managing the funds within the companies and planning for the expenditure of funds on various business aspects.
Explanation:
finance is one of the most important aspects of a business. With huge funds, daily cash flow and continuous transaction, managing and monitoring all of the above turn necessary. ... To be specific, financial management helps the organization determine what to spend, where to spend and when to spend.
The role of finance in business is also to make sure there are enough funds to operate and that you're spending and investing wisely. The importance of business finance lies in its capacity to keep a business operating smoothly without running out of cash while also securing funds for longer-term investments.