The successful management of assets over liabilities is the highpoint behind the field of finance. Mainly the financial focus is exclusively on maximizing wealth. The goal is to triumph over money losses or liabilities. Monetary liabilities are defined as money owed; debts, or pecuniary obligations, general speaking it is a loss in wealth. This loss or liability is undesirable. Furthermore this loss can be delineated on a balance sheet, especially in relation to assets and capital; hence the management of money is to avoid this condition. Likewise this avoidance of liabilities is to capitalize on gains and assets. Financial assets may be money, but more specifically is an intangible representation of money. A financial asset is a document that has no intrinsic value in of itself until it is converted in to cash, examples are: certificates, bonds, stocks, and bank deposits. Assets are of course extremely desirable and the goal of finance.
When you grow your wealth similar to Igor Cornelsen, it can be thought of as financial matters. Finance is this increase in assets over loss and is based on the time value of money during certainty and uncertainty. Also finance deals with the dependency of the concepts of time, money and risk. The main idea is to understand that one unity of currency can vary over time. This uncertainty in monetary valuation over a variation of time is called risk. Risk is the uncertainties of many factors that affect whether money invested will produce the positive return anticipate. The science behind successful wealth management is wagering assets against liabilities over time and risk and profiting from it. Risk is inherent in every form of investment. Finance is the science of conquering money gains over losses and liabilities over a given period of time. So applying sound and wise financial principles leads to great money success.