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13 Finance - Firm Level

13 Finance - Firm Level - BCOR 1010 PART THREE THE...

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BCOR 1010 PART THREE: THE INTERRELATED FUNCTIONS OF BUSINESS A. Accounting – The Scorecard B. Finance – Getting And Using Resources 1. Personal Finance : The Changing Value of Money and Opportunity Costs, Trade Offs 2. Finance Issues at the Firm Level : Funding Needs and Sources in the Short Term and Long Term a) Functions of finance managers Financial managers are involved in: Cash-flow management Obtaining and managing funds and resources necessary to meet the firm’s goals Financial control Checking actual performance to plans (budgets) Monitoring and making adjustments as needed Managing the firm’s risk Financial planning Optimizing a firm’s profitability and make the best use of its money Describing the firm’s strategies for reaching a future financial position What are the firm’s funding needs Where will the funds come from? Should a new project be implemented? Should a new stock issue be sold?
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