MGMT 100 Lecture Notes - Lecture 17: Chartered Financial Analyst, Unsecured Debt, Revolving Credit
13 Apr 2017
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Finance: the function in a business that acquires funds for the firm and manages them within the firm. Financial management: the job of managing a firm"s resources so it can meet its goals and objectives. Financial managers: examine the financial data prepared by accountants and recommend strategies for improving the financial performance of the firm. A key responsibility is to obtain money and then control the use of that money effectively. Financial managers are responsible for seeing that the company pays its bills. 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. It"s vital that financial managers in any business stay abreast of changes and opportunities in finance and adjust to them. Financial managers also carefully analyze the tax implications of various managerial decisions in an attempt to minimize the taxes paid by the business.
