财务管理基础培训课件(ppt 39张)

C. Forms of organization: The finance function may be carried out within a number of different forms of organizations: 1. Sole proprietorship. a. Single ownership. b. Simplicity of decision making. c. Low organizational and operating costs. d. Unlimited liability. e. Earnings of the proprietorship are taxed as personal earnings of the individual owner.
of Financial Management
Foundations
Part 1
Introduction
Chapter 1 The Goals And Functions of Financial Management
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Summary

This chapter traces the evolution and interrelationships of finance as a field of study and the role of the financial manager in a dynamic economy.
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2. Finance as a field of study has evolved over time in response to changing business management needs.


D. The analytical orientation of financial management focused on risk-return relationships and the desire to maximize return at a given level of risk. E. The rapid inflation experienced in the economy in the 1970s and early 1980s followed by a lengthy period of disinflation has impacted all areas of financial decisionmaking.
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2. Finance as a field of study has evolved over time in response to changing business management needs.


A. Finance achieved recognition as a separate field of study in response to the creation of giant corporations at the turn of the century. B. The worst depression in United States’ history caused a shift in emphasis from rapid merger growth to preservation of capital, liquidity, reorganization, and the bankruptcy process.
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Learning Objectives



1. The field of finance integrates concepts from economics, accounting, and a number of other areas. 2. The relationship of risk to return is a central focus of finance. 3. The primary goal of financial managers is to maximize the wealth of the shareholders.
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2. Finance as a field of study has evolved over time in response to changing business management needs.

C. The most significant step in the evolution of contemporary financial management began in the mid1950s.Emphasis was placed on the analytically determined employment of resources within the firm. The decisionmaking nature of financial management was manifested in the enthusiasm for the study of:



A. Daily financial management activities. 1. Credit management. 2. Inventory control. 3. Receipt and disbursement of funds. B. Less-routine activities. 1. Sale of stocks and bonds. 2. Capital budgeting. 3. Dividend decisions.
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Learning Objectives


5. Financial managers must carefully consider domestic and international business conditions in carrying out their responsibilities. 6. Daily price changes in the financial markets provide feedback about a company’s performance and help investors allocate their capital between firms.
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1. The field of Finance.



A. The field of finance is closely related to economics and accounting. 1. Economics provides a structure for decision-making in such areas as: a. Risk analysis. b. Price theory. c. Comparative return analysis.
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3. Functions of Financial Management: A financial manager is responsible for financing an efficient level and composition of assets by obtaining financing through the most appropriate means.
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3. Functions of Financial Management: A financial manager is responsible for financing an efficient level and composition of assets by obtaining financing through the most appropriate means.
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1. The field of Finance.




2. Economics provides the broad picture of the economic environment including the: a. Institutional structure of the Federal Reserve System. b. Commercial banking system. c. Interrelationships between various economic sectors.
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1. The field of Finance.


3. Accounting, sometimes said to be the language of finance, provides financial data through income statements, balance sheets, and the statement of cash flows. 4. Finance links economic theory with accounting data. All corporate managers must be familiar with such data in order to assess the financial performance of the firm.
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Learning Objectives

4. Financial managers attempt to achieve wealth maximization through daily activities such as credit and inventory management and through longer-term decisions related to raising funds.