FIN 2800 Chapter Notes - Chapter 1: Current Liability, Financial Analysis, Accrual
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Document Summary
Finance: the science and art of managing money. Personal: individuals" decisions about how much of their earnings they spend, save, and invest. Business: how firms raise money from investors, invest money in an attempt to earn a profit, and how they decide whether to reinvest profits in the business or distribute them back to investors. Financial services: design and delivery of advice and financial products to individuals, businesses, and governments. Careers in banking, personal financial planning, investments, real estate, and insurance. Managerial services: duties of the financial manager working in a business: financial managers administer the financial affairs of all types of businesses (public, private, large, small, for-profit, non-for-profit). Develop financial plans and budgets, extend credit to customers, evaluate proposed large expenditures, and raise money to fund company"s operations. Sole proprietorship: business owned by one person who operates for their own profit: 61% of all businesses.
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