Finlytic

23/10/2022

May this Diwali fill into our lives new hopes for the future and new dreams for tomorrow. With lots of love, wishing you a very Happy Diwali.

15/08/2022

Freedom should not be something you have to deserve. It’s something you just naturally have. Something that no one can take away from you. Let’s celebrate Freedom!

25/07/2022

Income Tax Returns: What happens if you miss the ITR due date?

Now, there are two significant dates for ITR filing: the due date and the last date. The due date and last date for filing the ITR for taxpayers have been extended to July 31, 2022, and March 31, 2023, respectively.

03/07/2020

What is Finance?
Finance is defined as the providing of funding and management of money for individuals, businesses, and governments. The financial system includes the circulation of money, managing of investments, and lending of funds. In businesses, the finance team is responsible for ensuring the company has enough capital, that the appropriate investments are made, and that the company’s revenues and expenses are well managed. This guide will analyze each of the various types of finance.
Types of Finance
There are three main types of finance:
1. Personal
2. Corporate (Business)
3. Public (Government)
#1 Personal Finance
From a personal perspective, finance is the management of one’s income, expenses, investments, and obligations. Individuals often work with a personal banker, investment advisor, accountant, mortgage broker, and other professionals to manage their financial situation.
Below are examples of the types of items people deal with on a personal financial level.
Examples:
• Bank accounts
• Credit cards
• Mortgages
• Lines of credit
• Employment income
• Personal spending and expenses
• Taxes
• Savings
• Investments (stocks, bonds, real estate, etc.)
#2 Corporate Finance (Business)
From a business perspective, corporate finance is the management of a company’s funding, its sources of revenue, use of capital, and the management of its profit and loss (P&L) statement. The professionals at a business that have the responsibility for managing this area include accountants, financial analysts, managers, and executives such as the Chief Financial Officer (CFO).
Examples:
• Debt
• Equity
• Cost of Capital
• Capital Structure
• Return on Investment (ROI)
• Assets
• Liabilities
• Balance Sheet
• Revenues
• Expenses
• Profit
• Income Statement
• Cash Flow
• Dividends
• Cash Flow Statement
#3 Public Finance (Government)
From a government perspective, finance includes the management of a country’s national budget, treasury department, the central bank, and other government agencies. It focuses on collecting tax revenue and spending that money on national services and programs such as roads, hospitals, and social security.
Examples:
• Income tax
• Sales tax
• Property tax
• Inflation
• Infrastructure spending (roads, hospitals, etc.)
• Social security and insurance
• Supply of money
• International trade
• Employment
• Gross national product (GNP)
• National debt
• National budget

29/06/2020