Definition of Financial Management:
Corporation finance or broadly speaking business finance can be defined as the process of rising, providing and administering of all money/funds to be used in a corporate (business) enterprise.
Wheeler defines business finance as, “That business activity which is concerned with the acquisition and conservation of capital funds in meeting the financial needs and overall objectives of business enterprise.”
According to Guthmann and Dougall, “Business finance can be broadly defined as the activity concerned with the planning, raising, controlling and administering the funds used in the business”.
In the words of Prather and Wert, “Business finance deals primarily with raising, administering and disbursing funds by privately owned business units operating in non-financial fields of industry.”
According to the Encyclopedia of Social Sciences, “Corporation finance deals with the financial problems of corporate enterprises. These problems include the financial aspects of the promotion of new enterprises and their administration during early development, the accounting problems connected with the distinction between capital and income, the administrative questions created by growth and expansion, and finally, the financial adjustments required for the bolstering up or rehabilitation of a corporation which has come into financial difficulties”.