商务英语基础教程15ppt课件

ABasicBusinessReader,Chapter15FinancialManagement,Objectives,Afterstudyingthischapteryouwillbeableto:Statetheobjectiveoffinancialmanagementandtheroleofthefinancialmanager.Identifysourcesforbusinessestoobtainshort-termcapital.Identifysourcesforbusinessestoobtainlong-termcapital.Explaintheconceptsofworkingcapitalandfixedcapital.,Roleofthefinancialmanager,Whileenjoyingapowerfulpositioninmostorganizations,thefinancialmanagermustprovideanswerstothesequestions:-Howmuchfinancewillthecompanyneed?-Whatsthebestsourceofshort-termfunds?-Whatsthebestsourceoflong-termfunds?(tobecontinued),Roleofthefinancialmanager,(continued)-Whatsthebestuseoftheseshort-andlong-termfunds?-Wheretolookforfundsatthecheapestcostwhenthecompanyneedsthem?-Isthecompanymanagingthecashmosteffectively,Roleofthefinancialmanager,Otherareasthefinancialmanagertakescareof:-creditandcollection-budgeting-stockandbondissues-purchasingandinventorypolicies,Sourcesofshort-termcapital,Sourcesofshort-termcapital,1.Tradecredit:creditextendedtothebuyerbythesellerinformaltradecredit:open-bookcredit-informalandunsecured-basedongoodfaithformaltradecredit:promissoryandtradedraft-formalwrittenagreement-signedbyborrowerorsupplier,Sourcesofshort-termcapital,2.Bankcredit-alineofcredit(loanagreement)-securedloans(loansbackedbysth.ofvalue)-unsecuredloans(loansbackedbyborrowersreputation)3.Commercialpaper-cheaperthanbankloans-availableonlytolargeborrowers,Sourcesofshort-termcapital,4.Financecompaniesspecializeinprovidingshort-termmoneyforbusinessesandindividual.-insurancecompanies-pensionfunds-moneymarketfunds,Short-termfinancingisforaperiodlessthanayear.,Sourcesoflong-termfinancing,Sourcesoflong-termfinancing,Stock:representingownershipinthecompanyBonds:certificatesstatingthatthecompanyowestothebondholderTermloan:aformalagreementtoborrowmoneyforperiodslongerthan1yearRetainedearnings:profitsacompanydoesnotpayoutindividends,Usesoffunds,1.Workingcapital(short-termuses)-assets,currentassets-liability,currentliability-cash,cashmanagement,liquidity-marketablesecurities2.Fixedcapital(long-termuses)-fixedassets-projectedreturn,Usesoffunds,Workshop,Presentationwork1.Defineshort-termfinancingandspecifysourcesofshort-termc