财务管理 英文版PPT课件
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• Introduction to Finance • Forms of Organizations • Risk-Return Tradeoff • Primary Goal of Financial Managers • Role of Financial Managers
1-2
Relationship between Finance, Economics and Accounting
• The following are significant to financial managers during decision making:
– Effects of inflation and disinflation on financial forecasting
– Required rates of return for capital budgeting decisions
– Income statements – Balance sheets – Statement of cash flows
• Finance links economic theory with the numbers of accounting
1-3
Evolution of the Field of Finance
– Cost of capital
1-7
The Impact of the Internet
• Internet and its acceptance has enabled acceleration of e-commerce solutions for “old economy” companies
– Cash and inventory management – Capital structure theory – Dividend policy
1-5
Modern Issues in Finance
• Focus has been on:
– Risk-return relationships – Maximization of return for a given level of risk – Portfolio management – Capital structure theory
1
Chapter
The Goals and Functions of Financial Management
Copyright © 2008 by The McGraw-Hill CompanieMs, IcnGc.rAalwl r-iHghitlsl/rIerswerivned.
Chapter Outline
1-9
Financial Management
Financial management or business finance is concerned with managing an entity’s money
corporations – Bankruptcy process
1-4
Evolution of the Field of Finance (cont’d)
• By mid-1950s: FHale Waihona Puke Baidunance becomes more analytical
– Financial capital (money) was used to purchase real capital (long-term plant and equipment)
• E-commerce solutions for existing companies
– B2C – B2B
• Spurt in new business models and companies
– Amazon.com – eBay
1-8
The Impact of the Internet (cont’d)
• Products are bought with credit cards • Credit card checks are performed • Selling firms get the cash flow faster
– B2B model can help companies
• Lower the cost of managing inventory, accounts receivable, and cash
• Economics provides structure for decision making in many important areas
− Provides a broad picture of economic environment
• Accounting provides financial data in various forms
• 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
• New financial products with a focus on hedging are being widely used
• Inflation – a key variable in financial decisions
1-6
Modern Issues in Finance (cont’d)
• For a financial manager, e-commerce impacts financial management because it affects the pattern and field through which cash flows through the firm
– B2C model:
1-2
Relationship between Finance, Economics and Accounting
• The following are significant to financial managers during decision making:
– Effects of inflation and disinflation on financial forecasting
– Required rates of return for capital budgeting decisions
– Income statements – Balance sheets – Statement of cash flows
• Finance links economic theory with the numbers of accounting
1-3
Evolution of the Field of Finance
– Cost of capital
1-7
The Impact of the Internet
• Internet and its acceptance has enabled acceleration of e-commerce solutions for “old economy” companies
– Cash and inventory management – Capital structure theory – Dividend policy
1-5
Modern Issues in Finance
• Focus has been on:
– Risk-return relationships – Maximization of return for a given level of risk – Portfolio management – Capital structure theory
1
Chapter
The Goals and Functions of Financial Management
Copyright © 2008 by The McGraw-Hill CompanieMs, IcnGc.rAalwl r-iHghitlsl/rIerswerivned.
Chapter Outline
1-9
Financial Management
Financial management or business finance is concerned with managing an entity’s money
corporations – Bankruptcy process
1-4
Evolution of the Field of Finance (cont’d)
• By mid-1950s: FHale Waihona Puke Baidunance becomes more analytical
– Financial capital (money) was used to purchase real capital (long-term plant and equipment)
• E-commerce solutions for existing companies
– B2C – B2B
• Spurt in new business models and companies
– Amazon.com – eBay
1-8
The Impact of the Internet (cont’d)
• Products are bought with credit cards • Credit card checks are performed • Selling firms get the cash flow faster
– B2B model can help companies
• Lower the cost of managing inventory, accounts receivable, and cash
• Economics provides structure for decision making in many important areas
− Provides a broad picture of economic environment
• Accounting provides financial data in various forms
• 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
• New financial products with a focus on hedging are being widely used
• Inflation – a key variable in financial decisions
1-6
Modern Issues in Finance (cont’d)
• For a financial manager, e-commerce impacts financial management because it affects the pattern and field through which cash flows through the firm
– B2C model: