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In other words, financial systems can be known wherever there exists the exchange of a financial medium (money) while there is a reallocation of funds into needy areas (financial markets, business firms, banks) to utilize the potential of ideal money and place it in use to get benefits out of it. This whole mechanism is known as a financial system.
The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic action that together facilitate international flows of financial capital for purposes of investment and trade financing.
Finance refers to monetary resources and to the study and discipline of money, currency, assets and liabilities. [a] As a subject of study, it is related to but distinct from economics, which is the study of the production, distribution, and consumption of goods and services.
An accounting information system (AIS) is a system of collecting, storing and processing financial and accounting data that are used by decision makers.An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources.
Executive Order 13772, titled "Core Principles for Regulating the United States Financial System", is an executive order signed by U.S. President Donald Trump on February 3, 2017.
Thus financial system in the United States, is an international financial system from the India's view. The mean and objective of both domestic and international financial management remains the same but the dimensions and dynamics broaden drastically.
The term "financial management" refers to a company's financial strategy, while personal finance or financial life management refers to an individual's management strategy. A financial planner , or personal financial planner, is a professional who prepares financial plans here.
The Stiglitz Report: Reforming the International Monetary and Financial Systems in the Wake of the Global Crisis is a book on economics written by Nobel Laureate economist Joseph Stiglitz, documenting the necessary changes and reforms of the international financial institutions in the wake of the financial crisis of 2007–2008, and the subsequent Great Recession arisen from it.