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Finances today is one of the most important topics - in private life, in the economy and for the Government. The focal point is the contemplation of money, which functions as a means of payment and acts as value guideline. The funds can be liquid and available for spending or can be tied up in fixed investments. In the economy the controlling department, in co-operation with the board of directors, usually manages the finances. By continuous recording of the book-keeping transactions, an overview of the available funds is possible at any time. The assets of the business are revealed in the balance sheet, which does not only indicate the liquid or fixed monies, but also the tangible fixed assets. In the field of public affairs, the Department of Finance is responsible for all budget matters, namely book-keeping, asset management, as well as the application of Government resources.
The Federal Ministry under the management of the Minister of Finance is responsible for compiling the federal budget, which has to be approved by the German Parliament (Bundestag). In accordance with legislation the various departments deal with the distribution of finances, taxes, customs and State assets. The Minister of Finance is also responsible for the financial and economic policies that are compiled in order to manage the economy and are at the same time applied to the financial resources of the countries and provinces. Organisations that are economically affected can be rehabilitated through various financial measures. By dealing sensibly with scarce resources, consolidation can make rapid progress. For this task financial experts take control over expenses and income and give advice to management regarding alternative financing. With the establishment of a new company and the development of an existing company (investments, new fields of business, etc) the financial covering has to be settled as soon as possible with providers of foreign and domestic capital. Government financial institutes have different development programmes, that allow for loans and subsidies at favourable rates under specific conditions. Banks and chambers of commerce and industry, as well as other advice centres, provide assistance with the investigation of appropriate methods of financing.
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