BANKING AND FINANCE

BANKING AND FINANCE

1. What is finance?

   • Finance is securing and utilizing capital to start up, operate and expand a company.
     • involves
       • Generate Money
       • Organize Operations
       • Manage Cash Flow
       • To Sustain Economic Downturn

2. The Balance Sheet

   • is a financial statement
     • Involves
       • reports a company's
         • assets
         • liabilities
         • shareholders
       • evaluating its capital structure

3. Sales and costs

   • Sales
     • encompasses all activities involved in selling a product or service to a consumer or business
       • Involves
         • source prospects, reach ou
         • build a relationship with them
         • provide a solution that will benefit the prospect
   • costs
     • An amount that has to be paid or given up in order to get something
       • is usually a monetary valuation of
         • effort
         • resources
         • time and utilities consumed
         • material
         • risks incurred
         • opportunity forgone in production

4. PERSONAL FINANCE

   • What is
     • Is a term that covers managing your money as well as saving and investing
       • What does it encompasses
         • Budgeting Banking Insurance Mortgages Investments Retirement planning Tax and estate planning
       • Personal finance depends on your income, expenses, living requirements, and individual goals and desires and coming up with a plan to fulfill those needs within your financial constraints
       • Personal Finance Strategies
         • DEVISE A BUDGET, CREATE AN EMERGENCY FUND, LIMIT DEBT,USE CREDIT CARDS WISELY, MONITOR YOUR CREDIT SCORE, CONSIDER YOUR FAMILY, PLAN FOR RETIREMENT, MAXIMIZE TAX BREAKS, GIVE YOURSELF A BREAK
           • PERSONAL FINANCE PRINCIPLES
             • RESTRAINT
             • ASSESSMENT
             • PRIORITIZATION

5. FORMS OF MONEY

   • Characteristics of money
     • Divisibility
     • Durability
     • Acceptability
     • Homogeneity
     • Portability
     • Stability
   • types or forms of money
     • Cash
     • CENTRAL BANK RESERVES
     • COMMERCIAL BANK MONEY

6. Who's who in Finance and What is what in finance.

   • what is finance
     • describes activities associated with banking, leverage or debt, credit, capital markets, money, and investments.

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