《ACCA考试之财务管理 FINANCIAL MANAGEMENT》课件PPT 1 Financial Management and financialobjectives
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financial management is concerned with the long term raising of finance and the allocation and control of resources.
➢management accounting is concerned with day-to-day planning, control and decision making.
8
Exam guide
Discussion question, or Financial ratios computation and discussion
9
1 the nature, purpose and scope of financial management
Fast forward
Financial management decisions cover investment decisions, financing decisions, dividend decisions and risk management.
15
1.4 Financial management decisions
Investment decisions
Allocation of resources
Fixed assets Current assets Risk and return expected
16
1.4 Financial management decisions
➢ financial accounting reports to external interested parties the results of the decisions taken by management (historical information), not directly involved in the day-to-day planning, control and decision making of an oቤተ መጻሕፍቲ ባይዱganization
7
Topic list
The nature, purpose and scope of financial management Financial objective and the relationship with corporate strategy Stakeholders Measuring the achievement of objectives Encouraging the achievement of stakeholder objectives not-for-profit organization
Investment Financing Profit allocation Risk management
12
1. 2 the role of the financial manager
The raising of finance The efficient allocation of financial
NWC
The Financing Decision
Current liabilities
•Accounting payable •Short-term loan •Taxes payable
Long-term debt
Bond
Equity
•Common shares •Preferred shares •Retained earnings
[美]约翰.道森 乔丹特.古德曼编 《英汉金融与投资词典》 中国金融出版社，1992
2
Introduction
财 = 贝 + 才 = 财富（钱）
Money
Capital
Financial Activity
Capital Move 人与物（资本形态）
Financial ralationship
人与与人
resources Maintaining control over the resources to
ensure objective are met.
13
Board of directors
Vice president operations
Chief Executive officer
Chief finance offer
10
1.1 what is financial management?
Key term
Financial management can be defined as the management of finances of an organization in order to achieve the financial objectives of organization. Financial activities The usual assumption in financial management for the private sector is that the objective of the firm is to maximize shareholders’ wealth.
17
Source of finance
Sources of Funds
internal external
retained earning
capital cost allowances
depletion allowances
debt leases equity
short-term long-term preferred common
Financial management environment Ⅱ
Working capital Ⅲ
Investment appraisal Ⅳ Business finance Ⅴ
Cost of capital Ⅵ Risk management Ⅷ
Business valuation Ⅶ
5
Approaches to Examining the Syllabus
←
Investment structure
20
The Investment Decision
Current assets
•Cash •Marketable securities •Accounts receivable •Inventory
Fixed assets
•Buildings •Equipment •Land
•Risk management
•Preparing forecast
14
1.3 Financial management function
Financial planning
Working capital requirement Fixed assets
Financial control
The financial manager may compare data on actual performance with forecast performance.
Dividend-payout ratio: annual cash dividend divided by annual earnings; or alternatively, dividends per share divided by earnings per share. The ratio indicates the percentage of a firm’s earnings that is paid out to shareholders in cash.
11
1.1 what is financial management?
Financial management is that it determines which investment the firm should undertake; how, when, where and how much finance should be raised; and how the organization's profits should used or allocated.
3
Introduction
再投入生产过程
G→G→W
A …P …W′→G′→退出 Pm
筹
采
资
购
生
销
分
产
售
配
投资活动与经营活动
General Process of Capital Move
4
Relational diagram of main capabilities
Financial management function Ⅰ
Financing decisions
raising funds Factor should be considered
Source of finance Capital cost Availability Term of finance Risk
internally-generated surpluses: retained earnings External fund: equity and debt finance.
Vice president marketing
Treasurer
Controllers
•Capital budget
•Cost accounting
•Cash management
•Cost management
•Credit management
•Data processing
•Dividend disbursement
Budgeting, cost control, variance analysis, evaluation of alternative uses of short-term resources
23
1.6 Management accounting, financial accounting and financial management
19
Financial management decisions
Financing Sources of Cost of
Capital
decision → funds → capital → structure
Investment
decision →
Uses of funds
→
Return of capital
•General processing
•Finance analysis & planning
•Investor relation
•Internal control
•Preparing financial statements
•Pensions management
•Preparing budgets
Paper F9 Financial Management
Accounting School
1
陈今池：《新编财经会计词典》 中国财政经济出版社，1992。
袁淳，杨松令主编： 《英汉双解-财务辞典》 English-Chinese Financial Dictionary 中国时代经济出版社，2002
21
1.6 Management accounting, financial accounting and financial management
financial Accounting Accounting
Management Accounting
22
1.6 Management accounting, financial accounting and financial management
Three hours Four compulsory questions 25 marks each questions Computational and discursive elements
6
Chapter 1
Financial management and financial objectives
18
1.4 Financial management decisions
Dividend decisions
How much of its profits should the company pay out as dividends and how much should it retain for investment to provide for future growth and new investment opportunity? Key term
➢management accounting is concerned with day-to-day planning, control and decision making.
8
Exam guide
Discussion question, or Financial ratios computation and discussion
9
1 the nature, purpose and scope of financial management
Fast forward
Financial management decisions cover investment decisions, financing decisions, dividend decisions and risk management.
15
1.4 Financial management decisions
Investment decisions
Allocation of resources
Fixed assets Current assets Risk and return expected
16
1.4 Financial management decisions
➢ financial accounting reports to external interested parties the results of the decisions taken by management (historical information), not directly involved in the day-to-day planning, control and decision making of an oቤተ መጻሕፍቲ ባይዱganization
7
Topic list
The nature, purpose and scope of financial management Financial objective and the relationship with corporate strategy Stakeholders Measuring the achievement of objectives Encouraging the achievement of stakeholder objectives not-for-profit organization
Investment Financing Profit allocation Risk management
12
1. 2 the role of the financial manager
The raising of finance The efficient allocation of financial
NWC
The Financing Decision
Current liabilities
•Accounting payable •Short-term loan •Taxes payable
Long-term debt
Bond
Equity
•Common shares •Preferred shares •Retained earnings
[美]约翰.道森 乔丹特.古德曼编 《英汉金融与投资词典》 中国金融出版社，1992
2
Introduction
财 = 贝 + 才 = 财富（钱）
Money
Capital
Financial Activity
Capital Move 人与物（资本形态）
Financial ralationship
人与与人
resources Maintaining control over the resources to
ensure objective are met.
13
Board of directors
Vice president operations
Chief Executive officer
Chief finance offer
10
1.1 what is financial management?
Key term
Financial management can be defined as the management of finances of an organization in order to achieve the financial objectives of organization. Financial activities The usual assumption in financial management for the private sector is that the objective of the firm is to maximize shareholders’ wealth.
17
Source of finance
Sources of Funds
internal external
retained earning
capital cost allowances
depletion allowances
debt leases equity
short-term long-term preferred common
Financial management environment Ⅱ
Working capital Ⅲ
Investment appraisal Ⅳ Business finance Ⅴ
Cost of capital Ⅵ Risk management Ⅷ
Business valuation Ⅶ
5
Approaches to Examining the Syllabus
←
Investment structure
20
The Investment Decision
Current assets
•Cash •Marketable securities •Accounts receivable •Inventory
Fixed assets
•Buildings •Equipment •Land
•Risk management
•Preparing forecast
14
1.3 Financial management function
Financial planning
Working capital requirement Fixed assets
Financial control
The financial manager may compare data on actual performance with forecast performance.
Dividend-payout ratio: annual cash dividend divided by annual earnings; or alternatively, dividends per share divided by earnings per share. The ratio indicates the percentage of a firm’s earnings that is paid out to shareholders in cash.
11
1.1 what is financial management?
Financial management is that it determines which investment the firm should undertake; how, when, where and how much finance should be raised; and how the organization's profits should used or allocated.
3
Introduction
再投入生产过程
G→G→W
A …P …W′→G′→退出 Pm
筹
采
资
购
生
销
分
产
售
配
投资活动与经营活动
General Process of Capital Move
4
Relational diagram of main capabilities
Financial management function Ⅰ
Financing decisions
raising funds Factor should be considered
Source of finance Capital cost Availability Term of finance Risk
internally-generated surpluses: retained earnings External fund: equity and debt finance.
Vice president marketing
Treasurer
Controllers
•Capital budget
•Cost accounting
•Cash management
•Cost management
•Credit management
•Data processing
•Dividend disbursement
Budgeting, cost control, variance analysis, evaluation of alternative uses of short-term resources
23
1.6 Management accounting, financial accounting and financial management
19
Financial management decisions
Financing Sources of Cost of
Capital
decision → funds → capital → structure
Investment
decision →
Uses of funds
→
Return of capital
•General processing
•Finance analysis & planning
•Investor relation
•Internal control
•Preparing financial statements
•Pensions management
•Preparing budgets
Paper F9 Financial Management
Accounting School
1
陈今池：《新编财经会计词典》 中国财政经济出版社，1992。
袁淳，杨松令主编： 《英汉双解-财务辞典》 English-Chinese Financial Dictionary 中国时代经济出版社，2002
21
1.6 Management accounting, financial accounting and financial management
financial Accounting Accounting
Management Accounting
22
1.6 Management accounting, financial accounting and financial management
Three hours Four compulsory questions 25 marks each questions Computational and discursive elements
6
Chapter 1
Financial management and financial objectives
18
1.4 Financial management decisions
Dividend decisions
How much of its profits should the company pay out as dividends and how much should it retain for investment to provide for future growth and new investment opportunity? Key term