Mba -Development and Selection

In: Business and Management

Submitted By auzmairs
Words 4101
Pages 17
City of London College

Assignment on Managing Financial Principles and Techniques

Course co-ordinator: Miss. Safeena

Submitted by Mohammed Aamair Khan
Student Id: 000103307
Course: Advance Professional Diploma in Management Studies

Finance is the lifeblood of business. It is required for all the business activities like production, marketing and all the other resources. Finance includes saving money and often includes lending money. The field of finance deals with the concepts of time, money, risk and how they are interrelated. It also deals with how money is spent and budgeted.

In this Assignment I’m going to see what are the financing options available and which one of them will best suit my Company’s needs and result in profits. The best financing package for your business requires careful planning. An effective plan is based on these questions:

1. Why do you need money?
2. How are you going to use your money?
3. How much money do you need?
4.How much can you afford to pay for your funds?
5. How and when will you pay the money back?

These questions should be asked before you need money. By planning ahead you will not have to make a last minute rush to get money. Last minute money tends to be more expensive!

Understanding financial needs

There are several different ways to solve any financial problem that your business encounters. Running to the bank for a loan may be neither the easiest nor the best solution to your problem. In order to develop the best financial plan to help you to succeed, you need to know two things. Firstly, what sources are available for the money that you need? Secondly, what is the best or the most appropriate source?
There are four general categories of funding sources for your business.

Classification of sources of Finance

Sources of Finance According to Period | According to…...

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