财务管理英文课件.ppt
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The company’s secretary was in charge of raising funds and producing the annual reports, as well as the accounting function.
Copyright © 2003 Pearson Education Australia Pty Limited
Slide: 1 - 8
Financial Goal of the Firm
Profit maximisation?
In microeconomics courses profit maximisation is frequently given as the financial goal of the firm.
Slide: 1 - 7
Chief accountant is also called financial controller, whosBiblioteka Baidu responsibilities include financial reporting to outsiders as well as cost and managerial accounting and financial analysis on behalf of the firm’s managers.
chapter 1 & 3 Scope and environment of
financial management
Copyright © 2003 Pearson Education Australia Pty Limited
Slide: 1 - 1
Development of Financial Management
Slide: 1 - 6
Typical Finance Structure
Chief Financial Officer
Chief Accountant
Corporate Treasurer
Copyright © 2003 Pearson Education Australia Pty Limited
Copyright © 2003 Pearson Education Australia Pty Limited
Slide: 1 - 4
After World War Ⅱ the emphasis of corporate finance switched from financial accounting and external reporting to cost accounting and reporting and financial analysis on behalf of the firm’s managers.
Slide: 1 - 3
Business failures during the Great Depression of the 1930s helped change the focus of finance.
Increased emphasis was placed on bankruptcy, liquidity management and avoidance of financial problems.
• Interest in these topics grew and in turn spurred interest in security analysis, portfolio theory and capital structure theory.
Copyright © 2003 Pearson Education Australia Pty Limited
Slide: 1 - 2
At the turn of the twentieth century financial topics focused on the formation of new companies and their legal regulation and the process of raising funds in the capital markets.
Corporate treasurer is in charge of raising funds, managing liquidity and banking relationships and controlling risks.
Copyright © 2003 Pearson Education Australia Pty Limited
Profit maximisation functions largely as a theoretical goal.
That is, the perspective of finance changed from reporting only to outsiders to that of an insider charged with the management and control of the firm’s financial operations.
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.
Early 20th century:
Concentrated on reporting to outsiders.
Early 21st century:
Insiders managing and controlling
the firm’s financial operations.
Copyright © 2003 Pearson Education Australia Pty Limited
Copyright © 2003 Pearson Education Australia Pty Limited
Slide: 1 - 8
Financial Goal of the Firm
Profit maximisation?
In microeconomics courses profit maximisation is frequently given as the financial goal of the firm.
Slide: 1 - 7
Chief accountant is also called financial controller, whosBiblioteka Baidu responsibilities include financial reporting to outsiders as well as cost and managerial accounting and financial analysis on behalf of the firm’s managers.
chapter 1 & 3 Scope and environment of
financial management
Copyright © 2003 Pearson Education Australia Pty Limited
Slide: 1 - 1
Development of Financial Management
Slide: 1 - 6
Typical Finance Structure
Chief Financial Officer
Chief Accountant
Corporate Treasurer
Copyright © 2003 Pearson Education Australia Pty Limited
Copyright © 2003 Pearson Education Australia Pty Limited
Slide: 1 - 4
After World War Ⅱ the emphasis of corporate finance switched from financial accounting and external reporting to cost accounting and reporting and financial analysis on behalf of the firm’s managers.
Slide: 1 - 3
Business failures during the Great Depression of the 1930s helped change the focus of finance.
Increased emphasis was placed on bankruptcy, liquidity management and avoidance of financial problems.
• Interest in these topics grew and in turn spurred interest in security analysis, portfolio theory and capital structure theory.
Copyright © 2003 Pearson Education Australia Pty Limited
Slide: 1 - 2
At the turn of the twentieth century financial topics focused on the formation of new companies and their legal regulation and the process of raising funds in the capital markets.
Corporate treasurer is in charge of raising funds, managing liquidity and banking relationships and controlling risks.
Copyright © 2003 Pearson Education Australia Pty Limited
Profit maximisation functions largely as a theoretical goal.
That is, the perspective of finance changed from reporting only to outsiders to that of an insider charged with the management and control of the firm’s financial operations.
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.
Early 20th century:
Concentrated on reporting to outsiders.
Early 21st century:
Insiders managing and controlling
the firm’s financial operations.
Copyright © 2003 Pearson Education Australia Pty Limited