FIN 2000- Midterm Exam Guide - Comprehensive Notes for the exam ( 75 pages long!)
Document Summary
Finance the science and art of managing money. Finance- personal level concerned with individual decisions about how much of earnings they spend, save and how they invest savings. Finance- business level concerned with how firms raise money from investors, invest money to earn profit and how they decide to reinvest profits in the business or distribute to investors. Finance careers two categories of careers- 1) financial services and 2) managerial services. Financial services area of finance concerned with design and delivery of advice and financial products to individuals,businesses and governments. Managerial finance concerns the duties of the financial manager in a business. Actively manages the financial affairs of all types of businesses, whether private or public, large or small, profit seeking or not for profit. Perform varied tasks as developing financial plan or budget, extending credit to customers, evaluating proposed large expenditures and raising money to fund the firm"s operations.