ADPR5910 Exam 2 Notes (Siciliano 1)

ADPR5910 Exam 2 Notes (Siciliano 1) - Siciliano: CHAPTER 1...

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Siciliano: CHAPTER 1 Chapter 1: Managing a Company in Today’s Business Environment 1) Budget: projection of the detailed income and expenses estimated to occur in a future period a) Month-to-month basis for up to a year b) Each kind of income and expense used i) Amount each line is expected to add or subtract from the profit of the period 2) Role of Financial Department a) Manage company’s financial resources (Finance) b) Record and Report all financial transactions (Accounting) i) Chief Financial Officer (CFO): job title of the executive in charge of all financial department activities in all large companies and most mid-sized ii) Smaller companies place financial department under a VP for finance or controller 3) Finance: Responsible for treasury i) Executive title: Treasurer or VP of Finance (1) Cash management (2) Bank relations (3) Investments (4) Making sure the organization has enough cash to do its job (a) Cash should be busily working or productively invested ii) Traditional role of finance
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ADPR5910 Exam 2 Notes (Siciliano 1) - Siciliano: CHAPTER 1...

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