Chapter5Overheads

Chapter5Overheads - Chapter 5: Managing Your Cash...

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Chapter 5: Managing Your Cash
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Objectives Explain the importance of effective cash management and list the four tools of cash management. Compare and contrast the primary providers of cash management opportunities in today’s financial services industry. Understand the uses of electronic funds transfer and the legal protections available for it. Understand the criteria for choosing and using various types of checking accounts and the importance of having an interest-earning checking account.
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Objectives Identify the potential benefits of opening a savings account as well as key factors to consider when comparing savings account. Explain the importance of placing excess funds in a money market account. List the potential benefits of putting money into low-risk, longer-term savings instruments.
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Maximizing interest earnings Minimizing fees on all funds kept readily available for living expenses, recurring household expenses, emergencies, and saving and investment opportunities What is Cash Management? THE TASK OF:
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Cash equivalents Liquidity Safety What is Cash Management?
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Who Provides Financial Services? Banks and depository institutions Mutual funds Stock brokerage firms Financial services companies
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Debit cards ATMs Point-of-sale terminals Smart card and stored- value cards Pre-authorized deposits and payments Electronic benefits transfer Electronic Funds Transfer
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Electronic Funds Transfer Act - 1978 Regulation E - Federal Reserve Board Disclosure statement Periodic statement Liability for unauthorized use EFT Regulations
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Interest-earning checking accounts Savings accounts Money market accounts Low-risk, long-term savings instruments Cash Management Tools
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This note was uploaded on 03/05/2011 for the course FIN 4401 taught by Professor Ramos during the Fall '08 term at FIU.

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Chapter5Overheads - Chapter 5: Managing Your Cash...

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