Finance is a crucial factor both on a company level as well as on a personal level. Managing a large sum of money is a tough task and requires full attention and concentration.
Managing Finance is an art which follows specific steps. There are different types of Financial Management Activities, which are mentioned below.
1. Corporate Financing:
Corporate financing is a part of finance dealing with sources of funding, capital structures of corporations, different activities taken by the managers aimed at increasing the value of the firm of the shareholders and all the other tools and analysis aimed at allocating financial resources.
2. Commercial Banking:
Commercial banking focuses on providing different services such as accepting deposits, granting business loans, loans to individuals, and all other investment options such as an annuity, insurance, retirement, planning, etc. Few other services involved in commercial banking are:
Accepting and clearing payments via cheques.
Making payments for rent, insurance premium.
Different Foreign exchange actions.
For Purchasing and selling securities.
Stand as an attorney, trustee, correspondent, and an executor
Accepting tax proceeds and returns.
3. Investment Banking:
Investment banking focuses on advising individuals about how, where why and when to invest money to secure the future of the dear ones for various purposes such as:
Education for children.
A prime feature of Investment Banking which separates it from Commercial and Retail banking is that it does not take deposits.
4. Insurance Providing:
Insurance is the act of protecting from different kinds of financial losses. It is a form of protection/ risk management. Insurance providing involves analysis of current premiums aginst total claimed against profit margins and several other combinations of lengthy procedures.
5. Public Accounts:
Public Account refers to the different types of government’s financial statements which are the records of the state’s revenues and outgoings. Managing these records is tedious work, and it also involves the combination of different lengthy calculations.
6. Portfolio Management:
Portfolio Management refers to the different types of processes aimed at making decisions about investment and policies, investments associated with objectives, and allocating asset on behalf of an individual or an institution. Portfolio Management focuses on different activities aimed at determining the strengths, weaknesses, opportunities, and threats faced during the choice of debts against equity, domestic against international, growth against safety, etc.
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