FIN 305 Chapter Notes - Chapter 1: Chief Financial Officer, Accounting Software, General Ledger
19 Sep 2016
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As busi. gets more competitive in the world, its easier for others to compete w/ you. Each generation, it gets harder to make a living in busi. Usa workers dont earn a median-wage icome till they are 30 y/o on average (k/yr) However, new ind. "s arise, new opportunities are always being devel. "d. Managers today demand workers with extensive backgrounds in prev. work/knowledge, incl. finance. ): projection of detailing incomes/expenses estimated in specific period of future time. Finance: manage co. "s financial resources (treasury, cash transactions, bank elations, bills); Other major things like mergers/acquisitions, investment capital, internal management of public stock offerings; Might also oversee insurance/risk management, contract pricing/admin, internal auditing investor relations, etc. Accounting: record/report all financial transactions, maintain accounting software, process/record docs for transactions. ): main accounting record where all co. "s transactions are recorded/summarized. Small-medium co. "s dont usually have 2 diff. depts. for accounting and finance. Might instead have cfo (chief financial officer) for both.
