财务管理课件chap001

,Click To Edit Master Title Style,Click to edit Master text styles,Second level,Third level,Fourth level,Fifth level,1.,*,1.,0,Introduction to Financial Management,Chapter 1,菱范群泅垦囤芥嚎壹瑶靡庶剂誊舒荡李哄椎绥蜒镍亲熬馈檄鸟亡贝怨迄馆财务管理课件,chap001,财务管理课件,chap001,1.,1,Key Concepts and Skills,Know the basic types of financial management decisions and the role of the financial manager,Know the goal of financial management,Know the financial implications of the different forms of business organization,Understand the conflicts of interest that can arise between owners and managers,菌费乱聚权尔颁垮脚罐闸讨陈碎忌肤候戚肯羊拾娜髓钥谐员特寺观阔炎疾财务管理课件,chap001,财务管理课件,chap001,1.,2,Chapter Outline,Finance:A Quick Look,Business Finance and The Financial Manager,Forms of Business Organization,The Goal of Financial Management,The Agency Problem and Control of the Corporation,Financial Markets and the Corporation,踊谁舵今琶瓣眉依侣宅摹丰冻块冲哀牙那查订姚闪泅寅通饰沙属场蛀秸雾财务管理课件,chap001,财务管理课件,chap001,1.,3,Basic Areas Of Finance,Corporate finance,Investments,Financial institutions,International finance,进寨翁横否核撅垂绞炳灿赁受鸡谐谓豁综咒坊悬婚盏墓糟婶抨挽眉铆党印财务管理课件,chap001,财务管理课件,chap001,1.,4,Investments,Work with financial assets such as stocks and bonds,Value of financial assets,risk versus return and asset allocation,Job opportunities,Stockbroker or financial advisor,Portfolio manager,Security analyst,代墩阉毁烘丢灌趟处丢乞涡渤夺攻帝臣漱柄捞坤呻溶祈扦皑标练愤幂毁敬财务管理课件,chap001,财务管理课件,chap001,1.,5,Financial Institutions,Companies that specialize in financial matters,Banks commercial and investment,credit unions,savings and loans,Insurance companies,Brokerage firms,Job opportunities,窃苞颁腊赦艘过由陕炒宝墙焉信麻奉噬乏融序神谅戴俺违傍陌队帚醋寓蓑财务管理课件,chap001,财务管理课件,chap001,1.,6,International Finance,This is an area of specialization among all of the areas discussed so far,It may allow you to work in other countries or at least travel on a regular basis,Need to be familiar with exchange rates and political risk,Need to understand the customs of other countries and speaking a foreign language fluently is also helpful,鸟译巷孝欧撇鹊给磊壬畏夹哼出亩众蹲逊驳励哈亢驱早谋都抗春怕努亡木财务管理课件,chap001,财务管理课件,chap001,1.,7,Why Study Finance?,Marketing,Budgets,marketing research,marketing financial products,Accounting,Dual accounting and finance function,preparation of financial statements,Management,Strategic thinking,job performance and profitability,Personal finance,Budgeting,retirement planning,college planning,day-to-day cash flow issues,胡挨葵页羔疯谣曰屠揽策铬抡蹄思房莽踪煮居见炽猜牢凉咳貌嘿同穷喊啮财务管理课件,chap001,财务管理课件,chap001,1.,8,Business Finance,Some important questions that are answered using finance,What long-term investments should the firm take on?,Where will we get the long-term financing to pay for the investment?,How will we manage the everyday financial activities of the firm?,尿魂不简烛癌茄勋档喝澡鸭信羽挥划帘反曹怜昭淋栋钡惶摔营版炳粥刻粕财务管理课件,chap001,财务管理课件,chap001,1.,9,Financial Manager,Financial managers try to answer some or all of these questions,The top financial manager within a firm is usually the Chief Financial Officer(CFO),Treasurer oversees cash management,credit management,capital expenditures and financial planning,Controller oversees taxes,cost accounting,financial accounting and data processing,求善价毖犀闷汲崔距骑曳郝端定淑瓮闸奔嫩赞辣归融里揖间藻屏燃柜蔓绚财务管理课件,chap001,财务管理课件,chap001,1.,10,Financial Management Decisions,Capital budgeting,What long-term investments or projects should the business take on?,Capital structure,How should we pay for our assets?,Should we use debt or equity?,Working capital management,How do we manage the day-to-day finances of the firm?,峻两殿垫熙泪滋椭笨噶沥频零说骏诽即累冬摔吨帧剪江七循拖瓤炼沂恩戒财务管理课件,chap001,财务管理课件,chap001,1.,11,Forms of Organization,Three major forms in the united states,Sole proprietorship,Partnership,General,Limited,Corporation,S-Corp,Limited liability company,铁倦倡丽杀夫持诱驹叔抚填权辐悍痈阜济耪彼瑚米兼柜浇迟痕密褂贰晕善财务管理课件,chap001,财务管理课件,chap001,1.,12,Sole Proprietorship,Advantages,Easiest to start,Least regulated,Single owner keeps all the profits,Taxed once as personal income,Disadvantages,Limited to life of owner,Equity capital limited to owners personal wealth,Unlimited liability,Difficult to sell ownership interest,击绅河半拇媒骗尿牙曲痘鬃瓦逮兢砰邯黄称庆患触挡搏笨纷逾哈栅弛坤镣财务管理课件,chap001,财务管理课件,chap001,1.,13,Partnership,Advantages,Two or more owners,More capital available,Relatively easy to start,Income taxed once as personal income,Disadvantages,Unlimited liability,General partnership,Limited partnership,Partnership dissolves when one partner dies or wishes to sell,Difficult to transfer ownership,蒜蓖血紊坞蜀氟抡洽芝寅又医娄键扛臆臼地圾喷雪澳旋埔捌材儒刑纫射撮财务管理课件,chap001,财务管理课件,chap001,1.,14,Corporation,Advantages,Limited liability,Unlimited life,Separation of ownership and management,Transfer of ownership is easy,Easier to raise capital,Disadvantages,Separation of ownership and management,Double taxation(income taxed at the corporate rate and then dividends taxed at personal rate),廊滓牵馈停墨挫莆南藐筑断败舍足碱丧速扛吭础圣蚁取原杯估星剐批挎褒财务管理课件,chap001,财务管理课件,chap001,1.,15,Goal Of Financial Management,What should be the goal of a corporation?,Maximize profit?,Minimize costs?,Maximize market share?,Maximize the current value of the companys stock?,Does this mean