RSM100Y1 Chapter Notes - Chapter 17: Management Consulting, Private Equity, Commercial Paper
Document Summary
Finance: the business function of planning, obtaining, and managing the company"s funds to accomplish its objectives as effectively and efficiently as possible. Financial managers: the executives who develop and carry out their firm"s financial plan and decide on the most appropriate sources and uses of funds. Financial managers are responsible for meeting expenses, investing in assets, and increasing profits to shareholders. The vice-president of financial planning/management is responsible for preparing financial forecasts and analyzing major investment decisions related to new products, new production facilities, and acquisitions. The treasurer is responsible for all of the company"s financing activities, including cash management, tax planning and preparation, and shareholder relations and also works on the sale of new security issues to investors. The controller is the chief accounting manager and is responsible for keeping the company"s books, preparing financial statements, and conducting internal audits. Return: the gain or loss that results from an investment over a specified period of time.