Textbook Notes (381,094)
CA (168,350)
UTSC (19,304)
MGT (1,095)
MGTA02H3 (363)
Chapter 10

Chapter 10 Notes

3 Pages
65 Views

Department
Management (MGT)
Course Code
MGTA02H3
Professor
Chris Bovaird

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The Role of the Financial Manager
Financial Managers: Those managers responsible for planning and overseeing the financial
resources of a firm
Finance (Corporate Finance) involves four responsibilities:
1. Determining a firm’s long-term investment
2. Obtaining funds to pay for those investments
3. Conducting the firm’s everyday financial activities
4. Helping to manage the risks that the firm takes
Cash Flow Management: Managing the pattern in which cash flows into the firm in the form
of revenue and out of the firm in the form of debt payments
Financial Control: The process of checking actual performance against plans to ensure that
the desired financial status is achieved
Financial Planning: A description of how a business will reach some financial position it
seeks for the future; includes projections for sources and uses of funds
Why Do Businesses Need Funds?
Short-Term (Operating) Expenditure
Accounts payable, accounts receivable (credit policies: rules governing a firm’s extension of
credit to customers) and inventory (materials and goods currently held by the company that
will be sold within the year)
Raw Materials Inventory: Portion of a firm’s inventory consisting of basic supplies
used to manufacture products for sale
Work-in-Process Inventory: Portion of a firm’s inventory consisting of goods part-
way through the production process
Finished Goods Inventory: Portion of firm’s inventory consisting of completed
goods ready for sale
April 24, 2011 4:10 PM
Ch10: Financial Decisions
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Description
April 24, 2011 4:10 PM Ch10: Financial Decisions TheRoleoftheFinancialManager Financial Managers: Those managers responsible for planning and overseeing the financial resources of a firm Finance (Corporate Finance) involves four responsibilities: 1. Determining a firms long-term investment 2. Obtaining funds to pay for those investments 3. Conducting the firms everyday financial activities 4. Helping to manage the risks that the firm takes Cash Flow Management: Managing the pattern in which cash flows into the firm in the form of revenue and out of the firm in the form of debt payments Financial Control: The process of checking actual performance against plans to ensure that the desired financial status is achieved Financial Planning:Adescription
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