ARBUS101 Chapter Notes - Chapter 10: Chief Financial Officer, Cash Flow, Uptodate
27 May 2016
School
Department
Course
Professor
Document Summary
Finance the function in a business that acquires funds for the firm and manages them within the firm. Financial management the job of managing a firm"s resources to meet its goals and objectives. Financial managers examine the financial data prepared by accountants and recommend strategies for improving the financial performance of the firm: two key responsibilities: to obtain funds and to effectively control the use of those funds. In large and medium-sized corporations, both accounting and finance functions are generally under control of a chief financial officer, treasurer, or a vice president of finance. Finance is a critical activity in both profit-seeking and non-profit organizations. Finance is important regardless of a firm"s size. Financing a small business is essential if a firm expects to survive its important first five years. Finance is all about managing the funds of a business (interpretation of financial data versus accounting preparing accounting data)
