财务管理英文版共49页文档
英文财务管理.2021完整版PPT
5- 12
Manhattan Island Sale
Peter Minuit bought Manhattan Island for $24 in 1626. Was this a good deal?
To answer, determine $24 is worth in the year 2008, compounded at 8%.
Interest Earned Per Year =Prior Year Balance x .06
5- 7
Future Values
Example - Compound Interest
Interest earned at a rate of 6% for five years on the previous year’s balance.
After 3 years: FV3 = PV ( 1 + i )3 = $100 (1.10)3 =$133.10
After n years (general case): FVn = PV ( 1 + i )n
5- 10
Future Values
FV$100(1r)t
Example - FV What is the future value of $100 if interest is compounded annually at a rate of 6% for five years?
Today
Interest Earned
Value
100
Future Years
1
2345
6 6.36 6.74 7.15 7.57
106 112.36 119.10 126.25 133.82
财务管理 英文版ppt
1-14
Partnership
• Similar to sole proprietorship except there are two or more owners
– B2C model:
• Products are bought with credit cards • Credit card checks are performed • Selling firms get the cash flow faster
– B2B model can help companies
• At the turn of the century: Emerged as a field separate from economics • By 1930s: Financial practices revolved around such topics as:
– Preservation of capital – Maintenance of liquidity – Reorganization of financially troubled corporations – Bankruptcy process
• Lower the cost of managing inventory, accounts receivable, and cash
1-9
Financial Management
Financial management or business finance is concerned with managing an entity’s money Functions:
财务管理英文课件
Copyright © 2003 Pearson Education Australia Pty Limited
Slide: 1 - 5
• Capital budgeting became a major topic in finance.
• This led to an increased interest in related topics, most notably firm valuation.
The more risk the firm is willing to assume, the higher the expected return from a given course of action.
Copyright © 2003 Pearson Education Australia Pty Limited
chapter 1 & 3 Scope and environment of
financial management
Copyright © 2003 Pearson Education Australia Pty Limited
Slide: 1 - 1
Development of Financial Management
Copyright © 2003 Pearson Education Australia Pty Limited
Slide: 1 - 10
Shareholder wealth maximisation?
Same as:
1. Maximising firm value 2. Maximising share values
Slide: 1 - 16
Risk and Returns
财务管理英文第十三版ch1_sheenabsxt.pptx
Management
Fundamentals of Financial Management 2024/10/
The managerial labor market
Fundamentals of Financial Management 2024/10/8
6
Corporate Social Responsibility(CSR)
◦ Such as: protect the consumer, pay fair wages to employees, safe working conditions, be involved in such environmental issues
◦ Investment Decision ◦ Financing Decision ◦ Asset Management Decision
Fundamentals of Financial Management 2024/10/8
2
2024/10/8
Fundamentals of Financial Management
Stakeholders
◦ Creditors, employees, customers, suppliers, communities, and others
Sustainability
Fundamentals of Financial Management 2024/10/8
7
It refers to the system by which corporations are managed and controlled.
CH10TheCostofCapital(财务管理,英文版)-PPT文档资料
All rights reserved.
10 - 10
Is preferred stock more or less risky to investors than debt?
More risky; company not required to pay preferred dividend.
However, firms try to pay preferred dividend. Otherwise, (1) cannot pay common dividend, (2) difficult to raise additional funds, (3) preferred stockholders may gain control of firm.
1
-111.1
2.50
2
...
2.50
2.50
$111.10 =
DQ kPer
=
$2.50 kPer
.
kPer
= $2.50 $111.10
=
2.25%;
kp(Nom) = 2.25%(4) = 9%.
Copyright © 2001 by Harcourt, Inc.
All rights reserved.
INPUTS OUTPUT
30
-1153.72 60 1000
N I/YR PV PMT FV
5.0% x 2 = kd = 10%
Copyright © 2001 by Harcourt, Inc.
All rights reserved.
Component Cost of Debt
10 - 6
Interest is tax deductible, so kd AT = kd BT(1 – T) = 10%(1 – 0.40) = 6%.
财务管理制度_中英文
I. IntroductionThe Financial Management System (FMS) is a comprehensive set of policies, procedures, and guidelines designed to ensure the efficient andeffective management of the organization's financial resources. This system is established to promote transparency, accountability, and compliance with applicable laws and regulations. The following document outlines the key components of our FMS.II. ObjectivesThe primary objectives of the FMS are as follows:1. To ensure the integrity and reliability of the organization'sfinancial reporting.2. To promote financial stability and sustainability.3. To protect the organization's assets and resources.4. To enhance the organization's reputation and credibility.5. To comply with all relevant financial laws and regulations.III. Policies and ProceduresA. Budgeting and Planning1. The organization shall develop and maintain a comprehensive annual budget.2. Budgets shall be based on realistic assumptions and shall be reviewed and approved by the appropriate authority.3. Departments shall submit monthly budget variance reports to the finance department.B. Revenue Management1. All revenue shall be recorded in the organization's accounting system.2. Revenue recognition shall comply with generally accepted accounting principles (GAAP).3. Collections shall be made promptly and accurately.C. Expenditure Management1. All expenditures shall be authorized by the appropriate authority.2. Expenditures shall be recorded in the organization's accounting system.3. Expenditures shall be made in accordance with the approved budget.D. Asset Management1. The organization shall maintain accurate records of all assets.2. Assets shall be safeguarded and protected from loss, damage, or theft.3. Assets shall be depreciated in accordance with applicable accounting standards.E. Financial Reporting1. The organization shall prepare financial statements in accordance with GAAP.2. Financial statements shall be reviewed and approved by the appropriate authority.3. Financial statements shall be made available to stakeholders upon request.IV. Compliance and Auditing1. The organization shall comply with all applicable financial laws and regulations.2. Internal controls shall be established and maintained to ensure compliance.3. Regular audits shall be conducted to assess the effectiveness of the FMS.V. Training and Communication1. Employees shall receive appropriate training on financial management policies and procedures.2. Financial management information shall be communicated to all employees and stakeholders.3. Employees shall be encouraged to report any concerns or violations of the FMS.VI. ConclusionThe Financial Management System is a cornerstone of the organization's operations. By adhering to the policies and procedures outlined in this document, the organization can ensure the proper management of its financial resources, maintain financial stability, and achieve its objectives.---财务管理制度第一章总则第一条本制度旨在规范我单位财务管理工作，确保财务活动的合法性、合规性和有效性，提高财务管理水平，促进单位可持续发展。
财务管理(英文版)Financial Management
b) UNCERTAINTY of Returns
(Risk - Ch. 6)
Goal of the Firm
2) Shareholder Wealth Maximization?
this is the same as: a) Maximizing Firm Value b) Maximizing Stock Price
Government
The Corporation and Financial Markets
• Primary Market
The Corporation and Financial Markets
• Primary Market
– Market in which new issues of a security are sold to initial buyers.
Corporation Investors
Government
The Corporation and Financial Markets
Corporation
cash
Investors
Government
The Corporation and Financial Markets
Corporation
Cash flow
tax
Secondary markets
Government
The Corporation and Financial Markets
Corporation
reinvest
cash
securities
Investors
Cash flow
tax
FinancialManagement(财务管理,英文版)
Japanese yen
111.11
Australian dollar
1.5385
Yen:
1/0.009 = 111.11.
A. Dollar: 1/0.650 = 1.5385.
Copyright © 2001 by Harcourt, Inc.
All rights reserved.
What is a cross rate?
domestic financial management?
1. Different currency denominations.
2. Economic and legal ramifications.
3. Language differences.
4. Cultural differences.
1 Unit
Japanese yen
0.009
Australian dollar
0.650
Are these currency prices direct or indirect quotations?
Since they are prices of foreign currencies expressed in dollars, they are direct quotations.
the dollar profit on the sale?
250 yen = 250(0.0138) = 3.45 A. dollars. 6 – 3.45 = 2.55 Australian dollar profit. 1.5385 A. dollars = 1 U. S. dollar. Dollar profit = 2.55/1.5385 = $1.66.
财务管理的英语介绍
财务管理的英语介绍英文回答：Financial management is the process of planning, organizing, directing, and controlling the financial activities of an organization. It involves the efficient and effective use of financial resources to achieve the organization's goals. Financial management is a critical function in any organization, regardless of its size or industry. It helps organizations to maximize theirfinancial performance and achieve their long-term objectives.The primary goals of financial management are to:Ensure the availability of financial resources to meet the organization's needs.Allocate financial resources efficiently and effectively.Manage financial risks.Maximize the organization's financial performance.Financial management is a complex and multifaceted field. It involves a wide range of activities, including:Financial planning and analysis.Budgeting.Capital budgeting.Cash flow management.Investment management.Credit management.Risk management.Financial managers play a vital role in the success of any organization. They are responsible for making sound financial decisions that help the organization achieve its goals. Financial managers must have a strong understanding of financial principles and practices, as well as a deep understanding of the organization's business.中文回答：财务管理是指规划、组织、指导和控制组织财务活动的过程。
财务管理制度英语
Financial Management System in English In modern business world, financial management system is an integral part of any successful organization. It is essential for companies to have a solid financial management system in place to achieve their goals and objectives. This document will provide an overview of financial management system and its importance in an organization.What is Financial Management System?Financial management system refers to the set of processes, procedures, and tools that an organization uses to manage its financial activities. These activities include budgeting, accounting, financial planning, financial reporting, and risk management. Financial management system helps organizations to make informed decisions about their financial resources, manage financial risks, and achieve their financial goals.Importance of Financial Management SystemFinancial management system is important for various reasons, such as:Helps in Financial PlanningFinancial planning is vital for organizations to determine their financial goals and objectives. A well-designed financial management system provides a framework for financial planning, making it easier for organizations to manage their financial resources effectively.Ensures Financial ControlA robust financial management system ensures financial control by setting up proper controls and procedures for financial activities. It helps to prevent fraud, errors, and misconducts in financial transactions.Provides Financial InformationA sound financial management system provides timely and accurate financial information to the management and stakeholders of an organization. This information helps in decision-making, performance evaluation, and financial reporting.Facilitates Risk ManagementA financial management system helps organizations to identify, assess, and manage financial risks, such as liquidity risk, credit risk, and market risk. It allowsorganizations to devise strategies to mitigate these risks and protect their financial resources.Components of Financial Management SystemThe components of a financial management system may vary depending on the size and complexity of an organization, but some of the essential components are: Accounting SystemAn accounting system is a critical component of any financial management system. It records all financial transactions and generates financial statements, such as balance sheet, income statement, and cash flow statement.Budgeting SystemA budgeting system helps organizations to plan and manage their financial resources effectively. It involves setting financial targets, allocating resources, and monitoring performance against the budget.Financial Reporting SystemA financial reporting system provides timely and accurate financial information to the management and stakeholders of an organization. It includes reports such as balance sheet, income statement, and cash flow statement.Financial Analysis SystemA financial analysis system helps organizations to analyze their financial performance and make informed decisions. It involves analyzing financial ratios, trend analysis, and forecasting.Risk Management SystemA risk management system helps organizations to identify, assess, and manage financial risks. It involves setting up policies and procedures to mitigate risks, such as liquidity risk, credit risk, and market risk.ConclusionA sound financial management system is essential for organizations to achieve their financial goals and objectives. It involves various components, such as accounting system, budgeting system, financial reporting system, financial analysis system, and risk management system. A well-designed financial management system helps organizations to plan and manage their financial resources effectively, ensures financial control, provides financial information, and facilitates risk management.。
财务管理_02 英文版
• Liquidity
• • • • Ability to convert to cash quickly without a significant loss in value Liquid firms are less likely to experience financial distress But liquid assets earn a lower return Trade-off to find balance between liquid and illiquid assets
2-17
Cash Flow Summary Table 2.5
2-18
• Current Accounts
Example: Balance Sheet and Income Statement Information
• 2004: CA = 3625; CL = 1787 • 2003: CA = 3596; CL = 2140
• Income Statement
• EBIT = 1014; Taxes = 368 • Interest Expense = 93; Dividends = 285
2-19
Example: Cash Flows
• OCF = 1014 + 500 – 368 = 1146 • NCS = 2194 – 2261 + 500 = 433 • Changes in NWC = (3625 – 1787) – (3596 – 2140) = 382 • CFFA = 1146 – 433 – 382 = 331 • CF to Creditors = 93 – (538 – 581) = 136 • CF to Stockholders = 285 – (462 – 372) = 195 • CFFA = 136 + 195 = 331 • The CF identity holds.
CashManagement(国际财务管理,英文版)-PPT文档资料
$10
$10
$60
$10
18-15
Multilateral Netting
Bilateral Netting would reduce the number of foreign exchange transactions by half:
$10
$40
$25 $25
$10
$10
$60
$Байду номын сангаас0
18-16
18-8
$30 $40
Multilateral Netting
Bilateral Netting would reduce the number of foreign exchange transactions by half:
$10 $35
$20 $30
$40 $10
$25 $60
$20 $30
$10
$20 $25
$25
$10
$10
$10
18-19
Multilateral Netting
Bilateral Netting would reduce the number of foreign exchange transactions by half:
$10
$20
$15
$25
$10
$10
18-20
$10
$30
$15
$15
$10
18-25
Multilateral Netting
Consider simplifying the bilateral netting with multilateral netting:
$10
$30
财务管理制度英文
Introduction:Financial management is a crucial aspect of any organization, ensuring the efficient and effective use of financial resources. A well-defined financial management system helps in maintaining financial discipline, optimizing resource allocation, and achieving organizational objectives. This document outlines the key components and guidelines of ourfinancial management system.1. Objective:The primary objective of our financial management system is to establish a framework that promotes transparency, accountability, and compliance with applicable laws and regulations. It aims to ensure the safeguarding of assets, enhance financial stability, and support strategic decision-making.2. Roles and Responsibilities:a. Finance Department: Responsible for developing, implementing, and maintaining the financial management system. This department coordinates with other departments to ensure compliance and provide financial advice.b. Management Team: Ensures the financial management system is effectively implemented and adhered to by all employees. They are responsible for monitoring financial performance and taking necessary actions to address any discrepancies.c. Employees: Comply with the financial management system's policies, procedures, and guidelines, and report any financial irregularities or concerns to the appropriate authority.3. Policies and Procedures:a. Budgeting: Establish a budgeting process that aligns with organizational goals and objectives. Monitor budget performanceregularly and take corrective actions as needed.b. Revenue Management: Implement effective revenue recognition policies and procedures, ensuring accurate and timely recognition of income.c. Expense Management: Develop expense management policies that promote cost-consciousness and efficiency. Regularly review and approve expenses to ensure compliance with organizational policies.d. Fixed Assets: Maintain proper records of fixed assets, including acquisition, depreciation, and disposal. Ensure proper valuation and depreciation methods are followed.e. Accounts Payable and Receivable: Establish robust processes for accounts payable and receivable, ensuring timely payments and receipts. Regularly reconcile accounts and address any discrepancies.f. Financial Reporting: Prepare accurate and timely financial reports, including balance sheets, income statements, and cash flow statements. Ensure compliance with accounting standards and regulatory requirements.g. Internal Controls: Implement internal controls to safeguard assets, prevent fraud, and ensure compliance with applicable laws and regulations. Regularly review and update internal controls to address any identified risks.4. Monitoring and Review:a. Regular Audits: Conduct internal and external audits to ensure compliance with financial management policies and procedures. Address any identified issues promptly.b. Performance Review: Conduct periodic financial performance reviews to assess the effectiveness of the financial management system. Make necessary adjustments to improve efficiency and effectiveness.c. Training and Development: Provide training and development programs to enhance employees' understanding of financial management policies and procedures.5. Compliance:Ensure compliance with applicable laws, regulations, and internal policies. Regularly review and update policies to address any changes in legislation or organizational requirements.Conclusion:Implementing a robust financial management system is essential for the success and sustainability of any organization. By adhering to the policies, procedures, and guidelines outlined in this document, we aim to achieve financial stability, optimize resource allocation, and support strategic decision-making. Continuous monitoring, review, and improvement of the financial management system will help us maintain a strong financial position and foster growth.。
财务管理英文版(PPT 60页)
13-3
Proposed Project Data
Julie Miller is evaluating a new project for her firm, Basket Wonders (BW).
She has determined that the after-tax cash flows for the project will be
$40,000 = $10,000(.909) + $12,000(.826) + $15,000(.751) + $10,000(.683) + $ 7,000(.621)
$40,000 = $9,090 + $9,912 + $11,265 + $6,830 + $4,347
= $41,444 [Rate is too low!!]
$1,444 $4,603
X
$1,444
.05 = $4,603
13-15
IRR Solution (Interpolate)
X .05
.10 $41,444 IRR $40,000 .15 $36,841
$1,444 $4,603
X
$1,444
.05 = $4,603
13-16
IRR Solution (Interpolate)
13-13
IRR Solution (Try 15%)
$40,000 = $10,000(PVIF15%,1) + $12,000(PVIF15%,2) + $15,000(PVIF15%,3) + $10,000(PVIF15%,4) + $ 7,000(PVIF15%,5)
财务管理 英文课件
2a-11
-
Expenses
Decreases in OE representing the consumption or loss of economic benefits in the form of reduction in assets or increases in liabilities
2a-8
500,000 $1,000,000
LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable . . . . Notes payable . . . . . . Accrued expenses . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . $ 80,000 100,000 30,000 210,000 90,000 300,000 50,000 100,000 250,000 300,000 700,000
2a-9
Long-term liabilities: Bonds payable, 2010 . . . . . . . . Total liabilities . . . . . . . . . Shareholders’ equity: Preferred shares, $100 par value, 500 shares Ordinary shares, $1 par value, 100,000 shares Capital paid in excess of par (ordinary shares) Retained earnings . . . . . . . . . . Total shareholders’ equity . . . . Total liabilities and shareholders’ equity .