BUSN 1101 Chapter Notes - Chapter 10: Unsecured Debt, Retained Earnings, Credit Theory Of Money

• School: Northeastern University
• Department: Business Administration
• Course: BUSN 1101
• Professor: Kinnunen Raymond

Document Summary

Financial management involves the strategic planning and budgeting of short and long-term fund for current and future needs. Financial manager sometimes referred to as the chief financial officer (cfo), oversees the financial operations of a company. Generally a financial manager assumes the accounting responsibilities for a company. Developing budgets and plans to meet financial needs. Establishing controls to ensure that the budgets and plans are being followed. Do we have the resources to expand our product line? (cid:1) (cid:1) (cid:1) Financial managers take many factors into consideration including a company"s current and future plans, the economy"s current and future state of affairs, and the competition"s and anticipated actions. The accounting area of the finance department generates financial statements that include: income statements, balance sheet, statement of cash flows. Capital budget considers a company"s long-range plans and outlines the expected financial needs for significant capital purchases, such as real estate, manufacturing equipment, plant expansion or technology.