Corporate financial management

Corporate financial management - cial management - 1 FNAN...

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ncial management - 1 FNAN 301 Financial Management Corporate financial management
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ncial management - 2 Topics Covered The corporation Financial management The financial managers Agency costs, corporate goals, and governance
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ncial management - 3 The Corporation There are a variety of ways that a business entity can be organized Examples: sole proprietorship, partnership, corporation, etc. The corporation is the most complex and the focus of this course Understanding financial issues faced by corporations should enable one to understand financial issues faced by less complex business forms Corporations include most of the largest companies and account for the vast majority of commercial assets, revenues, and profits
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The Corporation Key characteristics of a corporation Distinct legal entity that exists permanently Initial owners get a charter from the government Corporation continues to exist even if owners sell their portion of company, which can be done relatively easily Corporations are like people in the eyes of the law as they must pay taxes, can be sued, etc. Separation of ownership and management, especially in large corporations Owners elect the Board of Directors, which hires senior managers Can raise funds relatively easily by issuing debt
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Corporate financial management - cial management - 1 FNAN...

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