COMMERCE 1E03 Chapter Notes - Chapter 17: Root Mean Square, Uptodate, Byrsonima Crassifolia
5 Apr 2016
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Finance: the function in a business that acquires funds for the rm and manages them within a rm. Financial management: the job of managing a rm"s resource to meet its goals and objective. Financial managers: managers who examine the nancial date prepared by the accounts and recommend strategies for improving the nancial performance of the rm. Short-term forecast: forecasts that predicts revenues, costs, and expenses for a period of one year or less. Cash flow forecast: forecast that predicts the cash in ows and out ows in future periods, usually months or quarters. Long-term forecast: forecast that predicts revenues, costs, and expense for a period longer than one year, and sometimes as far as ve or ten years into the future. Budget: a nancial plan that sets forth management"s expectations, and on the basis of those expectations, allocates the use of speci c resources through the rm.
