Содержание
- 2. Learning Goals LG1 Define finance and the managerial finance function. LG2 Describe the legal forms of
- 3. Learning Goals (cont.) LG4 Describe how the managerial finance function is related to economics and accounting.
- 4. What is Finance? Finance can be defined as the science and art of managing money. At
- 5. Career Opportunities in Finance: Financial Services Financial Services is the area of finance concerned with the
- 6. Career Opportunities in Finance: Managerial Finance Managerial finance is concerned with the duties of the financial
- 7. Career Opportunities in Finance: Managerial Finance (cont.) The recent global financial crisis and subsequent responses by
- 8. Focus on Practice Professional Certifications in Finance: Chartered Financial Analyst (CFA) – Offered by the CFA
- 9. Focus on Practice (cont.) Professional Certifications in Finance: American Academy of Financial Management (AAFM) – The
- 10. Legal Forms of Business Organization A sole proprietorship is a business owned by one person and
- 11. Table 1.1 Strengths and Weaknesses of the Common Legal Forms of Business Organization
- 12. Matter of Fact
- 13. Figure 1.1 Corporate Organization
- 14. Table 1.2 Career Opportunities in Managerial Finance
- 15. Goal of the Firm: Maximize Shareholder Wealth Decision rule for managers: only take actions that are
- 16. Goal of the Firm: Maximize Profit? Profit maximization may not lead to the highest possible share
- 17. Goal of the Firm: What About Stakeholders? Stakeholders are groups such as employees, customers, suppliers, creditors,
- 18. The Role of Business Ethics Business ethics are the standards of conduct or moral judgment that
- 19. The Role of Business Ethics: Considering Ethics Robert A. Cooke, a noted ethicist, suggests that the
- 20. The Role of Business Ethics: Ethics and Share Price Ethics programs seek to: reduce litigation and
- 21. Managerial Finance Function The size and importance of the managerial finance function depends on the size
- 22. Figure 1.1 Corporate Organization
- 23. Managerial Finance Function: Relationship to Economics The field of finance is closely related to economics. Financial
- 24. Managerial Finance Function: Relationship to Economics (cont.) Marginal cost–benefit analysis is the economic principle that states
- 25. Managerial Finance Function: Relationship to Economics (cont.) Nord Department Stores is applying marginal-cost benefit analysis to
- 26. Managerial Finance Function: Relationship to Accounting The firm’s finance and accounting activities are closely-related and generally
- 27. Managerial Finance Function: Relationship to Accounting (cont.) Whether a firm earns a profit or experiences a
- 28. Managerial Finance Function: Relationship to Accounting (cont.) The Nassau Corporation experienced the following activity last year:
- 29. Managerial Finance Function: Relationship to Accounting (cont.) Now contrast the differences in performance under the accounting
- 30. Managerial Finance Function: Relationship to Accounting (cont.) Finance and accounting also differ with respect to decision-making:
- 31. Figure 1.3 Financial Activities
- 32. Governance and Agency: Corporate Governance Corporate governance refers to the rules, processes, and laws by which
- 33. Governance and Agency: Individual versus Institutional Investors Individual investors are investors who own relatively small quantities
- 34. Governance and Agency: Government Regulation Government regulation generally shapes the corporate governance of all firms. During
- 35. Governance and Agency: Government Regulation The Sarbanes-Oxley Act of 2002: established an oversight board to monitor
- 36. Governance and Agency: The Agency Issue A principal-agent relationship is an arrangement in which an agent
- 37. The Agency Issue: Management Compensation Plans In addition to the roles played by corporate boards, institutional
- 38. The Agency Issue: Management Compensation Plans Incentive plans are management compensation plans that tie management compensation
- 39. Matter of Fact—Forbes.com CEO Performance vs. Pay
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