企业财务知识资料分析ppt 1.ppt

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1、FundamentalsofFinancialManagementNinthEditionCopyright©2001byHarcourt,Inc.Allrightsreserved.Requestsforpermissiontomakecopiesofanypartoftheworkshouldbemailedtothefollowingaddress:PermissionsDepartment,Harcourt,Inc.,6277SeaHarborDrive,Orlando,Florida32887-6777.ISBN0-03-031478-XCareeropp

2、ortunitiesIssuesofthenewmillenniumFormsofbusinessorganizationGoalsofthecorporationAgencyrelationshipsCHAPTER1AnOverviewofFinancialManagementMoneyandcapitalmarketsInvestmentsFinancialmanagementCareerOpportunitiesinFinanceUseofcomputersandelectronictransfersofinformationTheglobalizationof

3、businessFinancialManagementIssuesofthenewmillennium3M51.726.9ChaseManhattan27.826.6Coca-Cola62.364.6Exxon80.165.1GeneralElectric23.931.1GeneralMotors30.868.0IBM56.868.9McDonald’s60.871.7Merck24.927.4WaltDisney16.718.9PercentageofRevenueandNetIncomefromOverseasOperationsfor10Well-KnownC

4、orporations,1998PercentageofPercentageofRevenueOriginatedNetIncomeCompanyOverseasGeneratedOverseasForecastingandplanningInvestmentandfinancingdecisionsCoordinationandcontrolTransactionsinthefinancialmarketsManagingriskResponsibilitiesoftheFinancialStaffSoleproprietorshipPartnershipCorpo

5、rationAlternativeFormsofBusinessOrganizationAdvantages:EaseofformationSubjecttofewregulationsNocorporateincometaxesDisadvantages:LimitedlifeUnlimitedliabilityDifficulttoraisecapitalSoleProprietorshipApartnershiphasroughlythesameadvantagesanddisadvantagesasasoleproprietorship.Partnership

6、Advantages:UnlimitedlifeEasytransferofownershipLimitedliabilityEaseofraisingcapitalDisadvantages:DoubletaxationCostofset-upandreportfilingCorporationTheprimarygoalisshareholderwealthmaximization,whichtranslatestomaximizingstockprice.Dofirmshaveanyresponsibilitiestosocietyatlarge?Isstock

7、pricemaximizationgoodorbadforsociety?Shouldfirmsbehaveethically?GoalsoftheCorporationAnagencyrelationshipexistswheneveraprincipalhiresanagenttoactontheirbehalf.Withinacorporation,agencyrelationshipsexistbetween:ShareholdersandmanagersShareholdersandcreditorsAgencyRelationshipsM