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DEFINITION OF BUSINESS FINANCEAccording to the Wheeler, “Business finance is that business activity which concernswith the acquisition and conversation of capital funds in meeting financial needs and overallobjectives of a business enterprise”.According to the Guthumann and Dougall, “Business finance can broadly be definedas the activity concerned with planning, raising, controlling, administering of the fundsused in the business”.In the words of Parhter and Wert, “Business finance deals primarily with raising,administering and disbursing funds by privately owned business units operating in nonfinancialfields of industry”.Corporate finance is concerned with budgeting, financial forecasting, cashmanagement, credit administration, investment analysis and fund procurement of thebusiness concern and the business concern needs to adopt modern technology andapplication suitable to the global environment.According to the Encyclopedia of Social Sciences, “Corporation finance deals withthe financial problems of corporate enterprises. These problems include the financial aspectsof the promotion of new enterprises and their administration during early development,the accounting problems connected with the distinction between capital and income, theadministrative questions created by growth and expansion, and finally, the financialadjustments required for the bolstering up or rehabilitation of a corporation which hascome into financial difficulties”
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