AFM131 Chapter Notes - Chapter 17: Leap Year, United Parcel Service, Investment

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: David H A

Document Summary

Financial management the job of managing a firm"s resources to meet its goals and objectives. Both accounting and finance are generally undertaken by the cfo, vice president of finance, and treasurer: two key responsibilities: The role of advising top management on financial matters has become even more important in recent years as risk has increased. Finance is important in profit-seeking and non-profit organizations. Finance is important regardless of firm"s size. What financial managers do: obtaining funds, controlling funds (funds management, collecting funds (credit management, advising top management in financial matters, managing taxes, auditing, planning, budgeting. Three of the most common reasons firms fail financially are: undercapitalized (insufficient funds to start a business, poor control over cash flow, inadequate expense control. Understanding finance is important to anyone who wants to start a small business, invest in stocks and bonds, or plan a retirement fund.