Finance is the study of the allocation of scarce financial resources to maximize their utility. Since the allocation is subject to uncertainties, tools and skills are employed to weigh the costs and benefits of various financial decisions.
If you were to start your business, what type of questions do you need to ask yourself?
What products should I manufacture or sell? What kind of buildings, furniture, machines should I buy? How should I finance my business? Should I borrow funds or take on partners?
How should I manage daily activities, such as collecingt from customers and paying suppliers?
These are some of the most important questions you must address, and they are related to the management of money.
The goal of finance program is value maximization, and two emerging trends will become increasingly important in today's business world: the globalization of business and the use of information technology.