RSM100Y1 Chapter Notes - Chapter 17: Inventory Turnover, Revolving Credit, Accounts Receivable
14 Apr 2016
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Finance - planning, obtaining, and managing the company"s funds to accomplish its objectives effectively and efficiently as possible. Financial managers are responsible for meeting expenses, investing in assets, and increasing profits to shareholders. Financial managers are the executives who develop and carry out their firms financial plan and decide on the most appropriate sources and uses of funds. Financial planning financial plan- a document that specifies the funds needed by a firm for a given period of time, the timing go cash inflows and outflows, and the most appropriate sources and uses of funds. Operating plans are short-term financial plans that focus on no more than a year or two in the future ten years. Short term assets are also called current assets. These assets consist of cash and assets that can be converted into cash within a yearmajor current assets:
