BU121 Study Guide - Final Guide: Dog Walking, Mind Map, Physical Examination

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blushbee373

18 Oct 2012

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Document Summary

Chapter 12(16) managing the firm"s finances 4 marks. The role of finance and the financial manager. Financial management: the art and science of managing a firm"s money so that it can meet its goals. Plan and monitor firms cash flows to ensure cash is available when needed by focusing on cash flows. Track day to day operational data such as cash collection and disbursement to ensure company has enough cash. Accountants* main function is to collect and present financial data, then financial managers use the statements and info prepared by the accountants to make financial decisions. Financial planning preparing financial plan, which project revenues, expenditure and financing. Investment investing the firm"s fund in project and securities for high returns. Financing obtaining funding for the firm"s operations and investments and seeking best balance between debt and equity. The goal: maximize the value of the firm to its owner consider both short and long-term consequences.

Related Questions

Which of the following statements is true of business ethics?

a. Ethical behavior can not only enhance a company's reputation but can also drive profits.

b. Conducting business in an ethical manner does not influence the financial performance of a company.

c. Social responsibility is directed only toward a company's customers and not its employees.

d. Social responsibility in business is less important than satisfying shareholders.

e. Business ethics is not relevant to nonprofit organizations.

silverwombat742

The difference between a company's strategy and a company's business model is that

A)a company's strategy is the plan for achieving strategic objectives while its business model is the plan for achieving financial objectives.

B)the strategy concerns how to compete successfully and the business model concerns how to operate efficiently.

C)a company's strategy is management's game plan for realizing the strategic vision whereas a company's business model is the game plan for accomplishing the business purpose or mission.

D)strategy relates broadly to a company's competitive moves and business approaches (regardless of the financial outcomes it produces) while the term business model relates to whether the revenues and costs flowing from the strategy demonstrate that the business is viable from a profit perspective.

E)a company's strategy concerns how to please customers while its business model concerns how to please shareholders