MGM101H5 Chapter Notes - Chapter 11: Cash Flow, Trade Credit, Revolving Credit
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MGM101H5 Full Course Notes
Verified Note
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Document Summary
The function in a business that acquires funds for the firm and manages 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. Short-term forecast: forecast that predicts revenues, costs, and expenses for a period of one year or less. Cash flow forecast: forecast that predicts the cash inflows and outflows in future periods, usually months or quarters. Long-term forecast: forecast that predicts revenues, costs, and expenses for a period longer than one year, and sometimes as far as five or ten years into the future. Budget: a financial plan that sets forth management"s expectations, and, on the basis of those expectations, allocates the use of specific resources throughout the firm.
