[Management and Organizational Studies 2310A/B] - Midterm Exam Guide - Everything you need to know! (23 pages long)

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2310A/B
• Professor: Stacey Hann

Document Summary

Owners/shareholders are not normally directly involved with making business decisions: rather the business hires managers to represent to owners and make decisions on their behalf. The financial manager is accountable for answering these three important decisions. The financial management function is usually associated with a top officer of the firm such as vp of finance or cfo. Treasurer is responsible for cash management, capital expenditures and financial planning. Controller is responsible for cost and financial accounting, tax payments, management information systems. Capital budgeting: definition the process of planning and managing a firm"s investment in long term assets, financial managers try to identify investment opportunities that are worth more to the firm than they will cost to acquire. Working capital management: definition planning and managing the firm"s current assets and liabilities, day to day activity. Definition a business owned by a single individual. There are more proprietorships than any other form of business.