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Brief introduction of Financial and accounting services

What exactly does the Financial Services mean?
The financial services are the services required for mobilizing and analyzing savings. In other words, an analyzation is carried out to transform one’s savings into investments. Every Large and small organization definitely needs Financial and Accounting Services to regulate their management of money. According to Khan and Jain, Finance is the art and science of managing money. Basically, the term finance refers to Money management. Investment decisions, Financing decisions, and the Dividend decisions are the three common finance functions.

Why is Financial Services needed for industries?
In order to promote and develop the industry into a high extreme, financial service is necessary. This is why because, a well developed financial service will mobilize the savings and take out it to the next level, which is nothing but the safety investment. To meet the financial need of the industry, it has to go for raising funds externally or internally. An enterprise well-defined strategy helps to enhance the financial sources.Characteristics of Financial Services: Intangibility, Inseparability, Perishability, Heterogeneity

Objectives of Financial Services
a) To avoid the finance related problems.
b) To make decisions about the capital composition structure.
c) To ensure that, investment on the safer ventures.
d) To provide specialized services
Functions of Financial Services
a) Be partly responsible for Economic Development and growth
b) Raise effective mobilization and deployment of funds
c) Fund management
d) Wealthy and profit maximization

Types of Financial Services

Private Finance
a) Individual Finance
b) Partnership Finance
c) Business Finance
Public Finance
a) Central Government
b) State Government
c) Semi Government

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