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Financial management: corporate finance, which deals with decisions related to how much and what types of assets a firm needs to acquire, how a firm should raise capital to purchase assets, and how a firm should do to maximize its shareholders wealth - the focus of this class.
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Although finance is primarily about the management of money, a key component of finance is the management and interpretation of information. Indeed, if you pursue a career in management information systems or accounting, finance managers are likely to be your most important clients.
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Nov 14, 2022 · Introduction to Finance. Why it Matters. 1.1 What Is Finance? 1.2 The Role of Finance in an Organization. 1.3 Importance of Data and Technology. 1.4 Careers in Finance. 1.5 Markets and Participants. 1.6 Microeconomic and Macroeconomic Matters. 1.7 Financial Instruments. 1.8 Concepts of Time and Value. Summary. Key Terms. Multiple Choice.
What is the goal of financial management? Understand the different forms of business organization. Review of Course Overview. Introduce Blue Hen Brewery. Financial decisions are fundamental to business. What investments should a business make? How do investments get financed? How are daily financial activities managed?
- The learning objectives of this chapter are to:
- WHAT IS FINANCIAL MANAGEMENT?
- WHY DISCUSS PUBLIC, HEALTH CARE, AND NOT-FOR-PROFIT IN ONE BOOK?
- WHY SHOULD PUBLIC SERVICE ORGANIZATIONS WORRY ABOUT FINANCIAL MANAGEMENT?
- ONGOING CASE STUDY
- The Setting
- SUMMARY
- FUNDRAISING
- CONTRIBUTIONS
- OPERATING VERSUS CAPITAL
- PLANNED GIVING
- CONTRACTS AND GRANTS
- RAISING MONEY
define financial management; define accounting and finance; discuss the sources and uses of resources in the public sector, including the federal government, state and local governments, health-care organizations, and not-for-profit organizations; explain why public service organizations should be concerned with financial management; explain why pu...
Financial management is the subset of management that focuses on generating financial information that can be used to improve decision making. In proprietary, or for-profit, organizations, the unifying goal of all decisions is to maximize the wealth of the owners of the organization. In public service organizations—the term by which we may collecti...
The reader might wonder why public or government, health care, and not-for-profit finan-cial management are all discussed in one text. One argument for this grouping is that these organizations, for the most part, are exempt from taxes.14 Although that is something that many of these organizations have in common, it is not the primary issue. The co...
If making a profit is not the primary mission of public service organizations, should they even be concerned with issues of financial management? Should organizations such as govern-ments, hospitals, churches, and museums spend time on financial management? The answer is a strong yes. 13 Yearbook of International Organizations, Union of Internation...
This book uses a fictional example to help the reader learn about financial management in not-for-profit, government, and health-care organizations. This case study introduces a wide range of financial management material in a realistic yet simplified setting. The case study will run throughout the entire book, with many chapters adding information...
The Robert F. Wagner Graduate School of public Service at New York University was hav-ing an alumni reunion. The reunion culminated with a formal dinner in the luxurious Bobst penthouse faculty dining facility. Sitting next to each other at one particular table on this evening were three persons. Each had known the other two nearly a decade earlier...
The primary focus of the book is on providing current and future managers with an understanding of financial infor-mation. The goal of the book is not to provide a highly technical grounding in accounting and finance. Rather, by the end of this book the reader should be comfortable with the basics of financial management. Financial management is th...
Not-for-profit organizations have three primary sources of funds. One source is simply borrowing money. Often banks and other lenders will provide loans to not-for-profit organizations. A second source is from the sale of goods or services. This is the pri-mary source of funds for many not-for-profit orga-nizations (e.g., hospitals). The third sour...
Contributions are the most basic form of support for not-for-profit organizations. Contributions may be received from individuals, but are often also received from foundations, corporations, or the government. Contributions may be without donor restrictions. In that case, the not-for-profit organization can use them for any reasonable purpose relat...
Capital contributions are used to acquire resources that will last for more than 1 year. Operating con-tributions are used for the routine day-to-day costs of running the organization throughout the year. Frequently, a not-for-profit organization will hold a capital campaign, a fundraising drive to raise money to acquire long-term resources. Typic...
Often not-for-profit organizations benefit from being creative in their fundraising efforts. Two of the most obvious ways to donate are to just give a gift cur-rently or for a person to leave money to the organi-zation in their will. however, a number of planned giving approaches that are more complicated but have certain advantages have been devel...
Contracts generally involve a quid pro quo. Unlike donation, which is a gift with nothing expected in exchange, contracts usually provide something to each party. For example, if a corporation signs a research contract with a university, the university will receive funding and the corporation will receive the results of the research study. Grants a...
Most not-for-profit organizations find that, although they receive some unsolicited donations, they must ask for contributions or grants to have adequate financial resources to achieve their mission. Fund-raising can be very time-consuming, and it is com-mon for not-for-profit organizations to employ a development officer who directs their fundrais...
This chapter provides an overview of financial management and should give you a better understanding of the following: (1) how finance fits into the structure of a firm’s organization, (2) how businesses are organized, (3) what the goals of a firm are and how financial managers can contribute to the attainment of these goals, (4) important busin...
1. Introduction to Financial Management and Analysis. F inance is the application of economic principles and concepts to busi-ness decision-making and problem solving. The field of finance can be considered to comprise three broad categories: financial management, investments, and financial institutions: Financial management .
