Finance is a field that deals with the allocation of assets and liabilities over time under conditions of certainty and uncertainty. Finance can also be defined as the science of money management. A key point in finance is the time value of money, which states that purchasing power of one unit of currency can vary over time. Finance aims to price assets based on their risk level and their expected rate of return. Finance can be broken into three different sub-categories: public finance, corporate finance and personal finance.
The Council of Finance and Trade advises the Assembly on financial and economy matters. The Chairman of the Trade and Finance Committee (elected by the council) delivers the State of Finances report to the Union once a year.