1- describe the responsibilities of a financial manager. Financial managers- those managers responsible for planning and overseeing the financial resources of a firm. Finance/corporate finance- the business function involving decisions about a firm"s long-term investments and getting the funds to pay for those investments. Involves 4 responsibilities: determining a firm"s long-term investments, getting funds to pay for those investments, carrying on the firm"s everyday financial activities, helping to manage the risks that the firm takes. Objectives of the financial manager: collect funds, pay debts, establish trade credit, get loans, control cash balances, and plan for future financial needs. Increase a firm"s value and stockholders" wealth: make decisions for improving the firm"s financial status, ensures that a company earns a profit. Cash flow management: must ensure that the firm always has enough funds on hand to purchase the materials and human resources that it needs to produce goods and services.