财务管理英文版共49页文档
英文财务管理.2021完整版PPT
5- 12
Manhattan Island Sale
Peter Minuit bought Manhattan Island for $24 in 1626. Was this a good deal?
To answer, determine $24 is worth in the year 2008, compounded at 8%.
Interest Earned Per Year =Prior Year Balance x .06
5- 7
Future Values
Example - Compound Interest
Interest earned at a rate of 6% for five years on the previous year’s balance.
After 3 years: FV3 = PV ( 1 + i )3 = $100 (1.10)3 =$133.10
After n years (general case): FVn = PV ( 1 + i )n
5- 10
Future Values
FV$100(1r)t
Example - FV What is the future value of $100 if interest is compounded annually at a rate of 6% for five years?
Today
Interest Earned
Value
100
Future Years
1
2345
6 6.36 6.74 7.15 7.57
106 112.36 119.10 126.25 133.82
财务管理 英文版ppt
1-14
Partnership
• Similar to sole proprietorship except there are two or more owners
– B2C model:
• Products are bought with credit cards • Credit card checks are performed • Selling firms get the cash flow faster
– B2B model can help companies
• At the turn of the century: Emerged as a field separate from economics • By 1930s: Financial practices revolved around such topics as:
– Preservation of capital – Maintenance of liquidity – Reorganization of financially troubled corporations – Bankruptcy process
• Lower the cost of managing inventory, accounts receivable, and cash
1-9
Financial Management
Financial management or business finance is concerned with managing an entity’s money Functions:
财务管理英文课件
Copyright © 2003 Pearson Education Australia Pty Limited
Slide: 1 - 5
• Capital budgeting became a major topic in finance.
• This led to an increased interest in related topics, most notably firm valuation.
The more risk the firm is willing to assume, the higher the expected return from a given course of action.
Copyright © 2003 Pearson Education Australia Pty Limited
chapter 1 & 3 Scope and environment of
financial management
Copyright © 2003 Pearson Education Australia Pty Limited
Slide: 1 - 1
Development of Financial Management
Copyright © 2003 Pearson Education Australia Pty Limited
Slide: 1 - 10
Shareholder wealth maximisation?
Same as:
1. Maximising firm value 2. Maximising share values
Slide: 1 - 16
Risk and Returns
财务管理英文第十三版ch1_sheenabsxt.pptx
Management
Fundamentals of Financial Management 2024/10/
The managerial labor market
Fundamentals of Financial Management 2024/10/8
6
Corporate Social Responsibility(CSR)
◦ Such as: protect the consumer, pay fair wages to employees, safe working conditions, be involved in such environmental issues
◦ Investment Decision ◦ Financing Decision ◦ Asset Management Decision
Fundamentals of Financial Management 2024/10/8
2
2024/10/8
Fundamentals of Financial Management
Stakeholders
◦ Creditors, employees, customers, suppliers, communities, and others
Sustainability
Fundamentals of Financial Management 2024/10/8
7
It refers to the system by which corporations are managed and controlled.
CH10TheCostofCapital(财务管理,英文版)-PPT文档资料
All rights reserved.
10 - 10
Is preferred stock more or less risky to investors than debt?
More risky; company not required to pay preferred dividend.
However, firms try to pay preferred dividend. Otherwise, (1) cannot pay common dividend, (2) difficult to raise additional funds, (3) preferred stockholders may gain control of firm.
1
-111.1
2.50
2
...
2.50
2.50
$111.10 =
DQ kPer
=
$2.50 kPer
.
kPer
= $2.50 $111.10
=
2.25%;
kp(Nom) = 2.25%(4) = 9%.
Copyright © 2001 by Harcourt, Inc.
All rights reserved.
INPUTS OUTPUT
30
-1153.72 60 1000
N I/YR PV PMT FV
5.0% x 2 = kd = 10%
Copyright © 2001 by Harcourt, Inc.
All rights reserved.
Component Cost of Debt
10 - 6
Interest is tax deductible, so kd AT = kd BT(1 – T) = 10%(1 – 0.40) = 6%.
财务管理制度_中英文
I. IntroductionThe Financial Management System (FMS) is a comprehensive set of policies, procedures, and guidelines designed to ensure the efficient andeffective management of the organization's financial resources. This system is established to promote transparency, accountability, and compliance with applicable laws and regulations. The following document outlines the key components of our FMS.II. ObjectivesThe primary objectives of the FMS are as follows:1. To ensure the integrity and reliability of the organization'sfinancial reporting.2. To promote financial stability and sustainability.3. To protect the organization's assets and resources.4. To enhance the organization's reputation and credibility.5. To comply with all relevant financial laws and regulations.III. Policies and ProceduresA. Budgeting and Planning1. The organization shall develop and maintain a comprehensive annual budget.2. Budgets shall be based on realistic assumptions and shall be reviewed and approved by the appropriate authority.3. Departments shall submit monthly budget variance reports to the finance department.B. Revenue Management1. All revenue shall be recorded in the organization's accounting system.2. Revenue recognition shall comply with generally accepted accounting principles (GAAP).3. Collections shall be made promptly and accurately.C. Expenditure Management1. All expenditures shall be authorized by the appropriate authority.2. Expenditures shall be recorded in the organization's accounting system.3. Expenditures shall be made in accordance with the approved budget.D. Asset Management1. The organization shall maintain accurate records of all assets.2. Assets shall be safeguarded and protected from loss, damage, or theft.3. Assets shall be depreciated in accordance with applicable accounting standards.E. Financial Reporting1. The organization shall prepare financial statements in accordance with GAAP.2. Financial statements shall be reviewed and approved by the appropriate authority.3. Financial statements shall be made available to stakeholders upon request.IV. Compliance and Auditing1. The organization shall comply with all applicable financial laws and regulations.2. Internal controls shall be established and maintained to ensure compliance.3. Regular audits shall be conducted to assess the effectiveness of the FMS.V. Training and Communication1. Employees shall receive appropriate training on financial management policies and procedures.2. Financial management information shall be communicated to all employees and stakeholders.3. Employees shall be encouraged to report any concerns or violations of the FMS.VI. ConclusionThe Financial Management System is a cornerstone of the organization's operations. By adhering to the policies and procedures outlined in this document, the organization can ensure the proper management of its financial resources, maintain financial stability, and achieve its objectives.---财务管理制度第一章总则第一条本制度旨在规范我单位财务管理工作，确保财务活动的合法性、合规性和有效性，提高财务管理水平，促进单位可持续发展。
财务管理(英文版)Financial Management
b) UNCERTAINTY of Returns
(Risk - Ch. 6)
Goal of the Firm
2) Shareholder Wealth Maximization?
this is the same as: a) Maximizing Firm Value b) Maximizing Stock Price
Government
The Corporation and Financial Markets
• Primary Market
The Corporation and Financial Markets
• Primary Market
– Market in which new issues of a security are sold to initial buyers.
Corporation Investors
Government
The Corporation and Financial Markets
Corporation
cash
Investors
Government
The Corporation and Financial Markets
Corporation
Cash flow
tax
Secondary markets
Government
The Corporation and Financial Markets
Corporation
reinvest
cash
securities
Investors
Cash flow
tax
FinancialManagement(财务管理,英文版)
Japanese yen
111.11
Australian dollar
1.5385
Yen:
1/0.009 = 111.11.
A. Dollar: 1/0.650 = 1.5385.
Copyright © 2001 by Harcourt, Inc.
All rights reserved.
What is a cross rate?
domestic financial management?
1. Different currency denominations.
2. Economic and legal ramifications.
3. Language differences.
4. Cultural differences.
1 Unit
Japanese yen
0.009
Australian dollar
0.650
Are these currency prices direct or indirect quotations?
Since they are prices of foreign currencies expressed in dollars, they are direct quotations.
the dollar profit on the sale?
250 yen = 250(0.0138) = 3.45 A. dollars. 6 – 3.45 = 2.55 Australian dollar profit. 1.5385 A. dollars = 1 U. S. dollar. Dollar profit = 2.55/1.5385 = $1.66.