BUSN 101 Chapter Notes - Chapter 18: Unsecured Debt, Income Statement, Debenture
14 Apr 2016
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Finance the funcion in a business that acquires funds for the irm and manages them within the irm. Aciviies: preparing budgets, doing cash low analysis, planning for the expenditures. Financial management managing a irm"s resources to meet its goals and objecives. Accountant preparaion of inancial statements: measures the inancial info and writes the indings. Financial manager examine the inancial data prepared by accountants and recommend strategies for improving the inancial performance: obtain funds, efecively control the use of funds. Common reasons irms fail inancially: undercapitalizaion not enough money to start the business, poor control over cash low, poor expense control. Responsible for paying the company"s bills, collecing overdue payments, buying merchandise on credit: especially important for small businesses. Analyze tax implicaions of managerial decisions to minimize taxes that the irm needs to pay. Internal auditor checks the journals, ledgers, and inancial statements that the accouning department prepares. Opimizing the irm"s proitability and make the best use of its money.
