5 Definitions of Finance

This post is entirely dedicated to dicussing the definition of 'finance'.Below are the five definitions of finance.

Gitman’s definition of finance:

Finance can de defined as art and science of managing money. Virtually all individuals and organizations earn or raise money and spend or invest money. Finance is concerned with the process, institutions, markets and instruments involved in transfer of money among and between individuals, busines and governments

Hamptoms’s definition of finance:

The term finance can be defined as management of flows of money through an organization, whether it be a corporation, school, bank or government agency. Finance concerns itself with actual flows of money, as well as many claims of money

Moyer’s definition of finance:

The term financial management, managerial finance, corporate finance and business finance are virtually synonymous and are used interchangeably

JIM McMENAMIN says

One possible definition of financial management is simply ‘the means and ways of managing money’. A more formal definition would be determination, acquisition, allocation, and utilization of financial resources, usually with the aim of achieving some particular goals or objectives.

Van Horne’s definition of finance:

Financial management is concerned with the acquisition, financing and management of assets with some overall goal in the mind. Thus the decision function of financial management can be broken into three major areas: the investment , financing and asset management decisions.