MGM101H5 Chapter Notes -Debenture, Initial Public Offering, Callable Bond
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MGM101H5 Full Course Notes
Verified Note
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Document Summary
Finance: the function in a business that acquires funds for the firm and managers those funds within the firm. Financial management: the job of managing a firm"s resources so it can meet its goals and objectives. Financial managers: managers who make recommendations to top executives regarding strategies for improving the financial strength of a firm. Financial managers are responsible for paying the company"s bills at the appropriate time and for collecting overdue accounts receivable to make sure that the company does not lose too much money to bad debts. Financial planning involves 3 steps: forecasting both short-term and long-term financial needs, developing budgets to meet those needs, establishing financial control to see how well the company is doing what it set out to do. Short-term forecast: forecast that predicts revenues, costs and expenses for a period of one year or less. The forecast is the foundation for most other financial plans.
