Chapter 1 intro to financial management learning outcomes


KEY DECISION FOR FINANCIAL MANAGERS



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CHAPTER 1 & 2 PPT
KEY DECISION FOR FINANCIAL MANAGERS

财务经理的关键决策

Financial management is concerned with the efficient acquisition and consumption of both short- and long-term financial resources, to ensure the objectives of the enterprise are achieved.

财务管理关注短期和长期财务资源的有效获取和消耗,以确保实现企业目标。

Key areas to focus:

重点关注领域:

    • Identifying and setting appropriate corporate financial objectives.

  • 确定和设定适当的公司财务目标。

  • 通过在三个关键领域做出决定来实现财务目标:

      • Investment – should proposed investments (including potential acquisitions) be undertaken?

  • ❖       投资——是否应该进行拟议的投资(包括潜在的收购)?

      • Finance – from what sources should funds be raised?

  • ❖       融资——应从哪些来源筹集资金?

      • Dividends – how should cash funds be allocated to shareholders?

  • ❖       股息——现金资金应如何分配给股东?

    • Controlling resources to ensure efficient and effective use.

  • 控制资源以确保高效和有效地使用。

In all of the above areas, the financial manager will need to take account of:

在上述所有领域,财务经理都需要考虑:

    • The broader economic environment in which the business operates.

  • 企业经营所处的更广泛的经济环境。

    • The potential risks associated with the decision and methods of managing those risks.

  • 与管理这些风险的决策和方法相关的潜在风险。

THE BALANCE SHEET AND FINANCIAL MANAGEMENT

Non-current assets (net)

X

Investment appraisal

Current assets

X




Total assets

(X)




Capital (equity)

X

Working capital management

Non-current liabilities (debt)

X




Current liabilities

X

Long-term financing

Total equity and liabilities

X







  • INVESTMENT APPRAISAL considers the long-term plans of the business and identifies the right projects to adopt to ensure financial objectives are met. The projects undertaken will nearly always involve the purchase of non-current assets at the start of the process.

投资评估考虑企业的长期计划,并确定要采用的正确项目,以确保实现财务目标。所进行的项目几乎总是在流程开始时购买非流动资产。

  • For a business to be successful, as well as identifying and implementing potentially successful projects, it must survive day-to-day. WORKING CAPITAL MANAGEMENT is concerned with the management of liquidity – ensuring debts are collected, inventory levels are kept at the minimum level compatible with efficient production, cash balances are invested properly, and payables are paid on a timely basis.

企业要取得成功,以及识别和实施可能成功的项目,就必须每天生存下去。营运资本管理与流动性管理有关——确保收回债务,将库存水平保持在与高效生产相适应的最低水平,正确投资现金余额,及时支付应付款项。

  • All businesses need finance. A key financial management decision is the identification of the most appropriate SOURCES, taking into account the requirements of the company, the likely demands of the investors and the amounts likely to be made available.

所有企业都需要资金。一项关键的财务管理决策是确定最合适的来源,同时考虑公司的要求、投资者的可能需求以及可能提供的金额。


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