财务管理专业英语3E教学课件作者刘媛媛 Topic 1.ppt

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1、1.1FinancialManagementandFinancialManager1.2FinancialManagementDecision1.3Risk–ReturnTradeoffFinancialManagementandFinancialManagerFinancialmanagementisanintegrateddecision-makingprocessconcernedwithacquiring,financing,andmanagingassetstoaccomplishsomeoverall

2、goalwithinabusinessentity.managerialfinancecorporatefinancebusinessfinanceCEO-chiefexecutiveofficerCFO-chieffinancialofficerFinancialManagementDecisionLong-terminvestmentdecisionsLong-termfinancingdecisionsWorkingCapitalManagementDecisionsFinancialManagementD

3、ecisionLong-terminvestmentdecisionsInwhatlinesofbusinessshouldthefirmengage?Shouldthefirmacquireothercompanies?Whatsortsofproperty,plant,andequipmentshouldthefirmhold?Shouldthefirmmodernizeorsellanoldproductionfacility?Shouldthefirmintroduceamoreefficientdist

4、ributionsystemthanthecurrentone?FinancialManagementDecisionLong-termfinancingdecisionsDoesthetypeoffinancingusedmakeadifference?Istheexistingcapitalstructuretherightone?Howandwhereshouldthefirmraisemoney?Shouldthefirmusefundsraisedthroughitsrevenues?Shouldthe

5、firmraisemoneyfromoutsidethebusiness?Ifthefirmseeksexternalfinancing,shoulditbringinotherownersorborrowthemoney?FinancialManagementDecisionWorkingCapitalManagementDecisionsHowmuchofafirm’stotalassetsshouldthefirmholdineachtypeofcurrentassetsuchascash,marketab

6、lesecurities,andinventory?Howmuchcreditshouldthefirmgranttocustomers?Howshouldthefirmobtainneededshort-termfinancing?FinancialManagementDecisionRisk–ReturnTradeoffriskaversion——investorsshouldexpectahigherreturnfortakingonhigherlevelsofrisk