Finance is a broad term encompassing all things about the financial management, development, and implementation of financial investments and money. It encompasses the area of business as well as the investing in both tangible and non-tangible assets. There are many forms of finance and it includes financial planning, management, investment, taxes, and banking. Finance is also a field that includes various other related subjects such as risk, time, and value. If you are an undergraduate student of business or have some years of working experience in finance, then consider taking up a degree in finance.

Financial markets refer to banks, financial institutions, and credit unions that provide loans, advances, or other short-term financing. They also manage money in different ways to ensure that lending and financial transactions remain profitable for creditors and borrowers alike. This field influences all areas of economic activity from production, to trade, to production, to savings, to investment, to debt repayment, and financial markets. All of these aspects play a large role in determining the health of any economy. The key elements of finance include financial markets, risk, time, and value.

Finance is broken down into three distinct areas including Public Finance, Private Finance, and Domestic Finance. In public finance, this category includes governmental organizations such as cities, states, and national governments. It also covers special interest groups such as educational institutions, labor unions, professional and business associations, the military, nonprofit organizations, charities, and other financial entities. Private finance on the other hand, covers private individuals such as entrepreneurs, venture capitalists, and hedge funds.

The three major areas of financial activities include saving, making investments, and spending. Saving, which includes investment, is the process of earning a return on the equity or liquid capital of a business. Investments are used for day-to-day business operations such as purchasing equipment and supplies, paying employees, and marketing products and services. Businesses also save on their tax management by investing in real estate, equities, bonds, insurance, and franchises. Finally, to be able to pay for future expenses, businesses save by using facilities and amenities and infusing new revenue into the economy through tax cuts.

Another significant area of Finance is that of the federal government finance. The United States federal budget is the biggest single source of finance. All forms of federal finance involve some aspect of taxes, borrowing, investing, insurance, grants, and spending. Some of the areas of federal finance that most people have an interest in include:

Insurance. This is perhaps the broadest of all the sectors of finance. Insurance offers a wide range of services to support financial goods and services. Some of the services included in the financial services sector include investment, life, auto, homeowners, business, and health insurance. Many insurance companies offer a wide variety of financial products such as annuities, mutual funds, stock funds, insurance policies, and variable annuities.

Real Estate. Real estate represents both personal and business assets. It is perhaps the most important component of the American economy and is the primary source of wealth for many Americans. Its components include mortgages, commercial real estate, vacant land, agricultural land, and mineral rights.

Long-term Care. This sector includes long-term care insurance, health insurance, and disability income insurance. Its services include long-term financing for healthcare costs, purchasing durable and maintenance equipment, maintaining nursing homes, and assisting residents who cannot care for themselves. Long-term care planning is an essential part of the American long-term financial position planning process and can result in substantial savings for senior citizens.

Accounting. Accounting provides information about financial transactions, reporting information to management, and provides information that influences decisions about the organization and provision of credit or cash. Financial accounting is an essential part of the field of finance and is the basis for all the other financial analysis and reporting. Most businesses use accounting to conduct day-to-day business transactions. Some examples of general accounting include: budgeting, planning, sales, purchases, accounting, reporting, financing, and internal control.

Finance. Finance deals with the movement of money from the sources it came from to the destinations it is going to. Financial managers use accounting to examine the relationships between various financial elements, including pricing, trading, investing, and cash flow. It is essential to the well being of a company to carefully examine its financial performance and in doing so help managers make sound business decisions.

Real Estate. Real estate includes the physical buildings, land, and improvements on the real estate and financial instruments related to real estate. Within the field of real estate are several different types of finance. Examples of the types of financing included in real estate include: banking, mortgage, commercial real estate, mortgage banking, government backed loans, financing through owner financing, and financing through borrower financing.