Many people in India need to be made aware of the importance of financial education. They may not understand how it can benefit them. Even in some parts of India, financial matters are seen as private and not discussed openly, making it difficult for individuals to access information and resources about personal finance.
As far as Being CA. I totally disagree with keeping financial matters private, People in India must break this thought process. Talking about finances is not a crime you have done it – It’s your responsibility to engage the family and understand the financial health of the family.
Apart from this whoever you are – It’s essential – you should have financial knowledge. Having Financial Knowledge will never Harm you but it will help you create a budget and manage your cash flow effectively, ensuring that you have the resources you need to run your business and meet other financial requirements.
Financial Education is a very vast and long chapter – You cannot jump directly to any topic – nothing you are going to understand if you do so.
1st you have to understand finance which is related to your day-to-day life and that’s Where you should start – Accounting, Income Tax, and GST.
This encourages us to work and promote Financial Literacy campaigns in India. IFATH is India’s First dedicated finance training institute in Hindi.
The whole idea originated after it was observed how helpless and dependent Businessmen are when it comes to the areas of Taxation, Accounting & Financial decisions. However, later on, the wings of iFATH were widened to cover the needs of those who desire to become versatile Accountants as well as those Housewives who desire to assist their family business.
Learning finance can greatly benefit individuals running a business
Better Budgeting and Cash Flow Management: Understanding finance can help business owners create a budget and manage their cash flow effectively, ensuring that they have the resources they need to run their business and meet their financial obligations.
Improved Investment Decisions: Financial knowledge can help business owners make informed investment decisions, such as choosing the right funding options, investing in marketing and sales, and selecting the best equipment and technology.
Better Financial Planning: Business owners who understand finance can develop a financial plan that aligns with their long-term goals and objectives, and make decisions that support the growth and success of their business.
Better Understanding of Financial Statements: By understanding financial statements, such as balance sheets and income statements, business owners can gain insight into the financial health of their business and identify areas for improvement.
Better Negotiations with Lenders and Investors: Financial literacy can help business owners negotiate more favourable terms with lenders and investors, securing the funding they need to grow their business.
Better Risk Management: Understanding finance can help business owners assess and manage financial risks, reducing their exposure to potential losses and ensuring the long-term stability of their business
We Provide Practical finance training which is used in your day-to-day life. Knowing How “Finance is Important for everyone” Most Important! Our Training is led by Gold Medalist CA & Certified GST Practioner.
You may be at a loss if you weaken your financial knowledge – Build Strong Financial Foundation With IFATH
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