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10 Cards in this Set
- Front
- Back
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Finance
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The science and art of managing money.
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Personal Level:
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concerned with decisions about how much of their earnings they spend, how much they save and how they invest their savings.
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In a Business Context:
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includes how firms raise money from investors, how firms invest money in an attempt to earn a profit and how they decide whether o reinvest profits in the business or distribute them back to investors.
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Financial Services
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concerned with the design and delivery of advice and financial products to individuals, businesses and governments.
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Career Ops in Financial Sector
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eg. personal financial planning, real estate, investments and insurance
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Managerial Finance
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is concerned with the duties of the financial manager working in a business.
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Financial Manager
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actively manages the financial affairs of all types of businesses whether private or public.
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Tasks of a Financial Manager
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-developing financial plan or budget. -extending credit to customers. -evaluating proposed large expenditures. |
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Factors that have increased the roles of Financial Managers
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-recent global financial crisis -increased competition -technological change |
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Three most common legal forms
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-sole proprietorship -partnership -corporation |
