Financial Management

王南

目录

  • 1 Chapter1  An Overview of  Financial Management
    • 1.1 Unit 1  Financial Management Decision
    • 1.2 Unit 2  Types of Business Organization
    • 1.3 Unit 3  Objectives of Financial Management
    • 1.4 Unit 4  Agency Relationships
    • 1.5 Unit 5  Corporate Structure of the Company
  • 2 Chapter 2 Financial Statement Analysis
    • 2.1 Unit 1 Financial Statements
    • 2.2 Unit 2  Financial Ratio Analysis
    • 2.3 Unit 3 Common-Size Analysis
    • 2.4 Unit 4  Index Analysis
  • 3 Chapter 3 Time Value of Money
    • 3.1 Unit 1  The Interest Rate
    • 3.2 Unit 2  Simple Interest
    • 3.3 Unit 3  Compound Interest
    • 3.4 Unit 4  Amortizing a Loan
  • 4 Chapter 4  The Valuation of Long-Term Securities
    • 4.1 Unit 1  Valuation Fundamentals
    • 4.2 Unit 2  Bond Valuation
    • 4.3 Unit 3  Common Stock Valuation
    • 4.4 Unit4  Rates of Return (or Yields)
  • 5 Chapter 5 Risk and Return
    • 5.1 Unit 1  Defining Risk and Return
    • 5.2 Unit 2  Using Probability Distributions to Measure Risk
    • 5.3 Unit 3  Attitudes Toward Risk
    • 5.4 Unit 4  Risk and Return in a Portfolio Context
    • 5.5 Unit 5  Diversification
    • 5.6 Unit 6  Beta and The Capital Asset Pricing Model (CAPM)
  • 6 Chapter 6 Capital budgeting
    • 6.1 Unit 1  Capital Investment Decisions
    • 6.2 Unit 2  Guidelines for Estimating Project Cash Flows
    • 6.3 Unit 3  Investment Rules
    • 6.4 Unit 4  Analyzing Project Risk
  • 7 Chapter 7  Cost of Capital and Capital Structure
    • 7.1 Unit 1   Types of Financing
    • 7.2 Unit 2   Cost of Capital Concept
    • 7.3 Unit 3  the Financing Mix and Capital Structure
    • 7.4 Unit 4  Understanding Financial Risk
    • 7.5 Unit 5  the Financial Leverage and the Value of a Firm
    • 7.6 Unit 6  Modigliani and Miller (M&M) theorem
  • 8 Chapter 8  Dividend Policy
    • 8.1 Unit 1  Dividends and Dividend Policy
    • 8.2 Unit 2  the Dividend Puzzle
    • 8.3 Unit 3  Factors Influencing the Dividend Decision
    • 8.4 Unit 4  Stock Repurchases
  • 9 Chapter 9  Working Capital Management
    • 9.1 Unit 1  Introduction to Working Capital Management
    • 9.2 Unit 2  Cash Management
    • 9.3 Unit 3  Accounts Receivable Management
    • 9.4 Unit 4  Inventory Management
Unit 1  Financial Management Decision










1.  How do you understand the intension of corporate financial management?

Financial Management is an integrated decision-making process concerned with acquiring, financing, and managing assets toaccomplish some overall goal within a business entity.

(1)       Acquisition : Long-Term Investing Decision

(2)      Financing: Long-Term Financing Decision

(3)      Managing Assets: Working Capital Management                                                Decision

  These decisions concern the acquisition andallocation of resources among the firm’s various activities.

 

2.  How do you understand the investment decisions?

Long-term investment decisions involvedetermining the type and amount of assets that firm wants to hold. Thefinancial manager makes investment decisions about all types of assets--- itemson the left side of the balance sheet.

Thinking and Discussion:

(1)     Whatis the meaning of Capital Budgeting?

(2)      Why the investment decision is the most important ofthe three decisions?


3.  How do you understand the financing decisions?

Long-term financing decisionsinvolve the acquisition of funds needed to support long-term investments. Suchdecisions concern the firm’s capital structure, which is the mix of long-termdebt and equity the firm uses to finance its operations. These resources offinancing are shown on the right side of the balance sheet.

Thinking and Discussion:

(1)      What is the meaning of Capital Structure?

(2)       What are the ways of external financing and internal financing?

(3)      Why is financing decision related to dividend policy?

 

4.  How do you understand the working capital managementdecisions?

Decisions involving a firm’s short-term assets and liabilities refer to working capital management. Thefinancial manager has varying degrees of operating responsibility over currentassets and liabilities.

Thinking and Discussion:

(1)      What problems should working capital management pay attention to?

(2)      What is the relationship between the three types of decisions?