BUSI 1800 Chapter Notes - Chapter 17: Initial Public Offering, Accounts Receivable, Commercial Paper

• School: Carleton University
• Department: Business
• Course: BUSI 1800
• Professor: Andrew Webb

Document Summary

Finance: the function in a business that acquires funds for the frim and managed them within the firm. Financial management: the job of managing a fir(cid:373)"s resources to meet its goals and objectives. Financial managers: managers who examine the financial data prepared by accountants and recommend strategies for improving the financial performance of the firm: finance functions are usually under the control of a chief financial officer (cfo) Three of the most common reasons a firm fails financially are: undercapitalization (insufficient funds to run a business, poor control over cash flow, inadequate expense control. Financial planning: overall objective is to optimize the fir(cid:373)"s profitability and make the best use of it money. Three steps: forecasting a firms short-term and long-term financial needs, developing budgets to meet those needs, establishing financial control to see whether the company is achieving its goals.