RSM100Y1 Chapter 20: Chapter 20 notes.docx

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24 Mar 2012
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Production managers = planning and controlling the output of goods and services. Marketing managers = plan and control the development and marketing of products. Financial managers = plan and control the acquisition and dispersal of the firm"s financial assets. Finance (or corporate finance) typically involves four responsibilities: In other words, they are responsible for planning and overseeing the financial resources of a firm. Obtaining funds to pay for those investments. Helping to manage the risks that the firm takes. Collect funds, pay debts, establish trade credit, obtain loans, control cash balances, and plan for future financial needs. But overall objective is to increase a firm"s value and thus stockholders" wealth. Make decisions for improving the firm"s financial status. Responsibility of the financial manager to increase a firm"s wealth falls into three categories: cash flow management, financial control and financial planning.

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