AFM203 Study Guide - Comprehensive Final Exam Guide - Ford Focus, Time, Cash Flow

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Document Summary

Financial planning and forecasting: forecast, 1 year, recalculating budget on a monthly or quarterly basis as the year progresses, true performance, reasons why companies reforecast, management preference, business is volatile. Something drastic happened in the business or industry that changed the budget significantly: budget, 1 year, prepared 3-6 months before the start of the year, numbers are static, what the company is measured against, strategic planning. Long-term: 3-5 years, risk management, corporate governance, organization to make effective decisions. Support decision making for all departments in the company: external reporting, banks. Ifrs, accounting standards: mergers and acquisitions, capital budgeting, allocating capital that departments are allowed to use in a year. Investor relation: convince investors to invest in the company, growth, treasury, cash management. What is the role of a finance function within an organization: bookkeeping, explaining why the company is deviating from the budget, providing capital needed for all business functions and operations, acquisitions, investments,

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