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MGTA02H3 (149)
Lecture

Chapter 12 Study Guide

3 Pages
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Department
Management (MGT)
Course Code
MGTA02H3
Professor
Chris Bovaird

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CHAPTER 12
Financial managers: Those managers are responsible for planning and overseeing
the financial resources of the firm.
Finance (corporate finance): The business function involving decisions about a
firms long-term investments and obtaining the funds to pay for those investments.
Cash flow management: Managing the pattern in which cash flows into the firm
in the form of revenues and out of the firm in the form of debt payments.
Financial control: The process of checking actual performance against plans to
ensure that the desired financial status is achieved.
Financial plan: A description of how a business will reach some financial position
it seeks for the future; includes projections for sources and uses of funds.
Credit policy: Rules governing a firms extension of credit to customers.
Inventory: Materials and goods currently held by the company that will be sold
within the year.
Raw materials inventory: That portion of a firms inventory consisting of basic
supplies used to manufacture products for sale.
Work- in- process inventory: That portion of a firms inventory consisting of
goods partway through the production process.
Finished goods inventory: That portion of a firms inventory consisting of
completed goods ready for sale.
Trade credit: The granting of credit by a selling firm to a buying firm.
Open- book credit: Form of trade credit in which sellers ship merchandise on faith
that payment will be forthcoming.
Promissory note: Form of trade- credit in which buyers sign promise-to-pay
agreements before merchandise is shipped.
Trade draft: Form of trade credit in which buyers must sign statements of
payment terms attached to merchandise by sellers.
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Description
CHAPTER 12 Financial managers: Those managers are responsible for planning and overseeing the financial resources of the firm. Finance (corporate finance): The business function involving decisions about a firm’s long-term investments and obtaining the funds to pay for those investments. Cash flow management: Managing the pattern in which cash flows into the firm in the form of revenues and out of the firm in the form of debt payments. Financial control: The process of checking actual performance against plans to ensure that the desired financial status is achieved. Financial plan: A description of how a business will reach some financial position it seeks for the future; includes projections for sources and uses of funds. Credit policy: Rules governing a firm’s extension of credit to customers. Inventory: Materials and goods currently held by the company that will be sold within the year. Raw materials inventory: That portion of a firm’s inventory consisting of basic supplies used to manufacture products for sale. Work- in- process inventory: That portion of a firm’s inventory consisting of goods partway through the production process. Finished goods inventory: That portion of a firm’s inventory consisting of completed goods ready for sale. Trade credit: The granting of credit by a selling firm to a buying firm. Open- book credit: Form of trade credit in which sellers ship merchandise on faith that payment will be forthcoming. Promissory note: Form of trade- credit in which buyers sign promise-to-pay agreements before merchandise is shipped. Trade draft: Form of trade credit in which buyers must sign statements of payment terms attached to merchandise by sellers. www.notesolution.com Trade acceptance: Trade draft that
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