Business finance involves planning, acquiring, and utilizing funds to achieve organizational goals. It includes determining current funds and needed funds, acquiring funds through external sources, and investing funds in either short-term or long-term opportunities. Financial managers help with both external and internal financial matters. Treasurers handle external activities like cash management, financial analysis, and generating funds, while controllers manage internal issues such as accounting and taxes. The two main goals of firms are profit maximization in the short-term and shareholder wealth maximization for long-term growth and shareholder value.