BUSI 1800 Lecture Notes - Lecture 17: Regional Policy Of The European Union, Retained Earnings, Initial Public Offering
29 Jul 2015
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Document Summary
Finance- the function in a business that acquired funds for the firm and managers them within the firm. Financial management- the job of managing a firms" resourced to meet its goals and objectives. Financial managers- managers who examine the financial data prepared by accountants and recommended strategies for improving the financial performance of the firm. Short term forecast- forecast that predicts revenues, costs, and expenses for a period of one year or less. Cash flow forecast- forecast that predicts the cash inflows and outflows in future period, usually months or quarters. Long term forecast- forecast that predicts revenues, costs, and expenses for a period longer than one year, and sometimes as for as five to ten years into the future. Budget- a financial plan that sets forth management"s expectations, and on the basis of those expectations allocates the use of specific resources throughout the firm.
