Free Essay

Essentials of Financial Management

In: Business and Management

Submitted By gianglee
Words 1066
Pages 5
Câu 7:
Nếu bạn là một nhân viên tín dụng thương mại và Andre tới gặp bạn để vay một khoản vay ngắn hạn là $25000, bạn sẽ quyết định như thể nào? * Andre có thể được cấp khoản vay ngắn hạn $25.000. * Những khoản vay ngắn hạn được đều có sẵn theo cả hai hình thức là bảo đảm và không bảo đảm. * Để vay được khoản vay ngắn hạn có đảm bảo, người đi vay phải thế chấp một tài sản với người cho vay. Đối với khoản vay ngắn hạn không đảm bảo, không bên nào được yêu cầu nhưng lãi suất cao hơn. * Tỉ số thanh toán hiện hành hoặc tỉ số thanh toán nhanh của Andre cho tính thanh khoản tương đối khá và ông ấy vẫn có khả năng chi trả nên ông ấy nên được cho vay và ông ấy nên vay một khoản ngắn hạn có bảo đảm.
Cách trả lời khác:
Trong tình huống lợi nhuận thấp và tình hình lưu chuyển tiền tệ của công ty kém như vậy, tôi sẽ không cấp khoản vay. Tuy nhiên tôi sẽ nói với ông ấy rằng nếu ông ấy có thể cho chúng tôi thấy được sự tiến triểm trong hệ thống quản lý hàng tồn kho và lợi nhuận tốt hơn trong vòng hai quý tới, chúng tôi sẽ cân nhắc việc này
Câu 8:
Những khuyến nghị nào Juan nên làm để cải thiện, nếu có? * Công ty nên cải thiện việc quản lý hàng tồn kho và chính sách thu tín dụng. * Hàng tồn kho có thể là do tình trạng trữ hàng quá nhiều, hàng hóa lỗi thời, thiếu xót trong các dòng sản phẩm hoặc về việc tiếp thị sản phẩm. * Chi phí bán hàng và các chi phí khác cần được kiểm tra và giảm xuống thấp hơn, phù hợp với mức độ trong năm 2000. Điều này sẽ làm cải thiện tính thanh khoản và lợi nhuận của công ty
Nói chung lại công ty nên có những kế hoạch hợp lí và quyết định đúng đắn tại thời điểm chính xác để có thể khắc phục những vấn đề mà công ty đang đối mặt vào lúc này.
Câu 9:
Theo như bạn nghĩ vấn đề nào Juan sẽ phải đối mặt khi làm một phân tích báo cáo tài chính đầy đủ của các bộ phận trong Quickfix? Thông thường những hạn chế của phân tích báo cáo tài chính là gì?
Khó khăn khi làm một phân tích báo cáo tài chính: * Lựa chọn so sánh điểm chuẩn. * Kinh doanh theo mùa. * Lợi nhuận (lỗ) bất thường * Lựa chọn trung bình ngành công nghiệp thích hợp. * Thủ tục kế toán của các bộ phận có thể khác nhau. * Năm kết thúc tài chính khác nhau.
Những hạn chế của báo cáo tài chính: * Hiệu suất của công ty trước đây, dù tốt hay xấu cũng không được xem là dấu hiệu tốt đảm bảo cho việc công ty sẽ thực hiện tốt trong tương lai. * Nếu chỉ có báo cáo tài chính mà không có sự thuyết minh về báo cáo có thể các nhà quản lý tín dụng sẽ không thể có được một hình dung rõ ràng về phạm vi các rủi ro tín dụng mà họ đang xem xét. * Cũng khó để nói rằng công ty đó có đang phát triển tốt hay không khi nhìn vào báo cáo tài chính vì còn tùy thuộc vào tính chất và quy mô của công ty đó. * Lạm phát có thể ảnh hưởng và làm sai lệch thông tin tài chính được ghi nhận trên các báo cáo tài chính khiến việc tính toán và phân tích trở nên sai lệch. Chẳng hạn như lạm phát sẽ gây ảnh hưởng đến giá trị của dòng tiền tại một thời điểm, làm cho dòng tiền ở các năm khác nhau sẽ có một thời giá tiền tệ khác nhau. Điều này làm cho việc so sánh, phân tích số liệu giữa các năm có sự sai lệch. * Các yếu tố thời vụ cũng làm ảnh hưởng đến tình hình hoạt động của công ty và khiến cho các tỷ số tài chính có khuynh hướng thay đổi bất thường. Chẳng hạn vào mùa vụ hàng tồn kho tăng lên cao hơn bình thường nên nếu sử dụng tỷ số vòng quay hàng tồn kho tăng lên cao hơn bình thường nếu sử dụng tỷ số vòng quay hàng tồn kho sẽ thấy công ty có vẻ hoạt động kém hiệu quả. * Phân tích dựa trên các tỷ số tài chính phụ thuộc lớn vào tính chính xác của các báo cáo tài chính. Điều này bị ảnh hưởng lớn bởi các nguyên tắc kế toán. Tuy nhiên nguyên tắc và thực hành kế toán lại có thể khác nhau giữa các công ty, các ngành, các quốc gia và trong các thời kỳ khác nhau. Do đó các nguyên tắc thực hành kế toán có thể làm sai lệch và làm mất đi ý nghĩa của các tỷ số tài chính. * Các nhà quản lý có thể lợi dụng nguyên tắc kế toán để chủ động tạo ra các tỷ số tài chính như ý muốn của mình khiến cho việc phân tích báo cáo tài chính không còn là công cụ đánh giá khách quan. * Đôi khi công ty có vài tỷ số rất tốt nhưng vài tỷ số khác lại rất xấu làm cho việc đánh giá chung tình hình tài chính của công ty trở nên khó khăn và kém ý nghĩa * Có nhiều công ty quy mô rất lớn và hoạt động đa ngành, thậm chí là những ngành rất khác nhau nên khó xây dựng và ứng dụng hệ thống tỷ số bình quân ngành có ý nghĩa tại các công ty này. Do đó phân tích báo cáo tài chính thường có ý nghĩa nhất trong các công ty nhỏ và không có hoạt động đa ngành * Hiên nay vẫn chưa có sự thống nhất và đồng bộ về công thức của một số chỉ tiêu trong các sách, tài liệu về phân tích Báo cáo tài chính. Điều này làm cho việc so sánh số liệu được phân tích giữa các nguồn khác nhau tiềm ẩn nhiều rủi ro.…...

Similar Documents

Premium Essay

Financial Management

...Lesson # 1 Financial Management: Introductory Notes and Words Concepts of Finance and Financial Management Financial Management refers to the proper management of finance functions of an enterprise or organization. In other words, financial management is concerned with the financial decision-making and other financial aspects. Thus, financial management involves financial planning, financial organization, financial coordination and control, financial reporting, financial mergers, combinations and acquisitions, insurance and tax management etc. Financial planning is concerned with the act of deciding in advance the financial activities that are essential if the enterprises are to achieve their financial goals and objectives. These financial activities mainly consist of properly estimating financial needs; selecting the proper sources of finances; procuring the requisite funds; proper utilization of the funds and custody and safekeeping of funds. Financial organization is the grouping of the finance functions into various divisions, departments, sections and sub-sections of the enterprises for their proper and efficient performance. That is, financial organization deals with the proper allocation of the finance functions amongst the various financial executives. Financial coordination and control deal with the proper adjustment of the finance function and evaluation of the same in relation to the predetermined standards. Financial reporting is the proper collection and...

Words: 2347 - Pages: 10

Premium Essay

Essentials of Management Information Systems

...Securing Information Systems LEARNING OBJECTIVES C H A P T E R 7 STUDENT LEARNING OBJECTIVES After completing this chapter, you will be able to answer the following questions: 1. Why are information systems vulnerable to destruction, error, and abuse? What is the business value of security and control? What are the components of an organizational framework for security and control? What are the most important tools and technologies for safeguarding information resources? 2. 3. 4. ISBN 1-256-42913-9 232 Essentials of MIS, Ninth Edition, by Kenneth C. Laudon and Jane P. Laudon. Published by Prentice Hall. Copyright © 2011 by Pearson Education, Inc. C HAPTER O UTLINE Chapter-Opening Case: Boston Celtics Score Big Points Against Spyware 7.1 System Vulnerability and Abuse 7.2 Business Value of Security and Control 7.3 Establishing a Framework for Security and Control 7.4 Technologies and Tools for Protecting Information Resources 7.5 Hands-on MIS Projects Business Problem-Solving Case: Are We Ready for Cyberwarfare? BOSTON CELTICS SCORE BIG POINTS AGAINST SPYWARE While the Boston Celtics were fighting for a spot in the playoffs several years ago, another fierce battle was being waged by its information systems. Jay Wessel, the team’s vice president of technology, was trying to score points against computer spyware. Wessel and his IT staff manage about 100 laptops issued to coaches and scouts, and sales, marketing, and finance employees, and......

Words: 21009 - Pages: 85

Premium Essay

Essentials of Management

...Essentials of Management Course 602 Assignment- Lesson 9 In my opinion, the mission of Custom Coffee and Chocolate is to create an atmosphere that is convenient and enjoyable for students and other university people by providing the best sorts of coffee and snacks, increasing convenience by offering additional services and making visits to the café an unforgettable experience for the clients. Strengths: Kim finances, Brewer marketing, understanding of college market, unique, quality products, growing reputation, and loyalty of the customers. Weaknesses: capitalization, small market (need to increase customer base), people not staying in the café, but buying takeout and leaving, need to find a way to get them to stay which could possibly lead to additional sales while they are there, small shop, lack of workers. Opportunities: wireless internet, delivery services, wider array of foods & drinks, good supply of coffee/chocolate expand their territory. Threats: established coffee houses, other online sources for fair trade coffee & local chocolates. A tactical plan should be based on strategic opportunities and is likely to contain step-by-step implementation: * Hiring two part-time employees – within 1 month
 * Developing an expanded menu (with desserts, tea and beverages) – within 2 months * Adding wireless connection option – within 2 months * Expanding marketing and advertising policy (radio, TV, banner ads) – within 3 months *......

Words: 1677 - Pages: 7

Premium Essay

Essential of Strategic Management

...Sam Walton’s Approach to Implementing Wal-Mart’s Strategy (Chapter 9) Strategy in Action Features A Strategic Shift at Microsoft (Chapter 1) ● The Agency Problem at Tyco (Chapter 2) ● Circumventing Entry Barriers into the Soft Drink Industry (Chapter 3) ● Learning Effects in Cardiac Surgery (Chapter 4) ● How to Make Money in the Vacuum Tube Business (Chapter 5) ● The Evolution of Strategy at Procter & Gamble (Chapter 6) ● Diversification at 3M: Leveraging Technology (Chapter 7) ● News Corp’s Successful Acquisition Strategy (Chapter 8) ● How to Flatten and Decentralize Structure (Chapter 9) Practicing Strategic Management Application-based activities intended to get your students thinking beyond the book. Small-Group Exercises Short experiential exercises that ask students to coordinate and collaborate on group work focused on an aspect of strategic management. Exploring the Web Internet exercises that require students to explore company websites and answer chapter-related questions. Designing a Planning System (Chapter 1) Evaluating Stakeholder Claims (Chapter 2) Competing with Microsoft (Chapter 3) Analyzing Competitive Advantage (Chapter 4) How to Keep the Salsa Hot (Chapter 5) Developing a Global Strategy (Chapter 6) Comparing Vertical Integration Strategies (Chapter 7) ● Identifying News Corp’s Strategies (Chapter 8) ● Speeding Up Product Development (Chapter 9) ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● Visiting 3M (Chapter 1) Visiting Merck (Chapter 2)......

Words: 223966 - Pages: 896

Premium Essay

Financial Management

...FINANCIAL MANAGEMENT 1.     Explain the Indian Financial Systems. 2.     Explain debentures as instruments for raising long-term debt capital. 3.     What is Working Capital Cycle? Discuss. 4.     What are the characteristics and uses of ratio analysis? Explain with examples. 5.     Explain how will you estimate cash flows. 6.     Explain Performance Budgeting. 1. What is the importance of cost of capital in Financial Decisions? Explain. 2. Explain the factors determining Capital Structure. 3. What is financial Forecasting? Explain. 4. What is a fund flow statement? Explain its uses. 5. Explain financial statement analysis and tools of financial analysis. 6. Explain the steps to improve efficiency of Cash Management. 7. 1.      Business Finance is one of the major factors in all kinds of economic activity. Explain. 8. 2.      The main function of financial management is to mobilize funds for investments as and when they are required, at the lowest possible cost and to ensure a fair return to the investors. Explain the various sources of such finances. 9. 3.      Examine the details the sources of short term finance. 10. 4.      Explain the objectives of inventory management W.R.T its benefits, risks of holding and cost of holding inventory. 11. 5.      Explain financial statements and its limitations. What are the tools used for financial analysis? 12. 6.      Explain the Indian Financial System Elective: Financial......

Words: 406 - Pages: 2

Premium Essay

Essentials of Management Book

...affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. LETTER TO INSTRUCTORS Essentials of Management, 9e Dear Colleague, Whether you are a previous adopter, a new adopter, or a professor considering this text for adoption, I wish to thank you for your interest in Essentials of Management 9e. Essentials was the first relatively brief management text that was not simply an abbreviated version of a longer text. We created the path for a more concise, more understandable, and practical approach to the vast body of knowledge referred to as “management.” We assume that the study of management is not exclusively geared toward C-level executives, and that our readers will not be directing large enterprises or divisions of large enterprises in their first job. Instead, the vast majority of our readers will first be engaged in work that will require some managerial skill and knowledge, even though they are not working as executives. Virtually all texts in management and related fields claim to be practical, although many single sentences within them make six sweeping recommendations for CEOs or list ten companies that use a particular technique. We contend that Essentials of Management, unlike much of the competition, is and always has been a text that enables the student to apply much of the information. We support our conclusions with relevant research studies wherever......

Words: 292409 - Pages: 1170

Premium Essay

Is Strategy an Essential Component of Management?

...Is Strategy an Essential Component of Management? It seems reasonable and common for any organizations to have their own strategy in achieving their organization goals aligning their mission and vision within operations. As one of the most important management practice, strategy is currently playing a dominant role in the everyday lives for managers. Managers are generally expected to have strategic thinking while planning and framing activities (Philips & Dar 2009). In the following essay, the importance of strategy as a component of management will be discussed. Many literature has been focusing on the argument that strategy is needed within organizations in order to set their direction and to compete with other competitors, however, some has also pointed out that the absence of strategy can be considered vital in certain circumstances (Mintzberg 1987b). First of all, the definition of strategy should be clarified. Many works have been developing a view of strategic management which is focusing on ways that corporations develop their goals and direction. Chandler (1962, p.834) defined strategy as “the determination of the basic long-term goals and objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out the goals.” On the other hand, Mintzberg (1987a) has observed and presented five definitions for strategy. They are: plan, ploy, pattern, position and perspective. He pointed out that most......

Words: 1941 - Pages: 8

Premium Essay

Financial Management

...The financial manager is the one who plans for new systems implementation and prepares balance of the statement of account that influences the management team. The manager specializes in finance and is responsible for control of the company’s investment decisions. Financial management involves administration and maintenance of financial assets and identification of management risks. The primary goal of a financial manager is assessment, where he looks at the available data and judges the performance of various enterprises. He or she works with other employees to help address current issues. The financial manager has a mandate to provide real-time and accurate information. They get involved mostly in management activities of the store. Financial Managers should be able to discuss ideas and use various methods of analysis to make final recommendations on how to improve profitability and implement them. The key roles of financial managers in retail selling are in financial planning that involves monitoring and controlling performance, line management and auditing. They discuss with other members of the team on issues pertaining the organization and implementation of ideas. The key roles of financial manager are monitoring and controlling performance and auditing. In monitoring and controlling performance, the financial manager monitors all other costs, which are either direct or indirect costs. The manager makes sure the business is profitable by monitoring keenly both the......

Words: 1307 - Pages: 6

Premium Essay

Financial Management

...In order to understand the different challenges that financial managers are faced with in today’s society, it is imperative to understand the characteristics of the market structures and the influence of the market liquidity, competition and competence on financial managers. The market structure has a great influence on financial mangers. Financial managers are faced with many issues due to the market structure however; the ones that will be discussed in this paper are the communication issues and the economy. “Markets are essential to any economic system, and evidence of markets is found in even ancient societies. Markets come in a variety of shapes and sizes.” (Byrd, Hickman, & McPherson, 2013). The structure of the market is important to comprehend how the economy is operated as well as how services are exchanged. Monopolistic Structure is the most common form of a market structure. Monopolistic market has many vendors with prices in the product vary however are very similar to each other. The cost of advertising will vary and the cost in order to enter into the market is substantially low. Bigger corporations identify with oligopoly. There are little amounts of sellers that have different products. Businesses are highly competitive when entering into the market, in addition to the competition, there is a cost when entering in a market. The sellers control the vast majority of prices, which is based on the competition. It is imperative that one understands the......

Words: 846 - Pages: 4

Premium Essay

Financial Management

...College of City University BUS20269 Financial Management – Semester A 2013/14 |Name |Office (AC 2) |Office Phone No. |E-mail | |Mr. Toby Butt |Room: 6217 |3442 4969 |mkbutt@cityu.edu.hk | |Mr. Joe Pong |Room: 5429 |3442 6943 |hkpong@cityu.edu.hk | |Mr. Kennix Chiu |Room: 5416 |3442 7585 |swchiu@cityu.edu.hk | |Mr. Peter Yip |Room: 5406 |3442 7903 |peteryip@cityu.edu.hk | Course Aims: Provide students with some fundamental concepts of modern financial management theory relevant to making operating and investment decisions. The course also introduces some of the core financial management and decision making techniques used in the business world. Course Intended Learning Outcomes (CILOs) Upon successful completion of this course, students should be able to: 1. Describe the financial environment, agency costs, the goals of the participants, and the basic structure of Hong Kong financial and banking systems 2. Explain working capital policies and apply working capital management tools 3. Apply the concepts of risk-return trade-off and time value of money in financial management decisions, and in stock,......

Words: 1220 - Pages: 5

Premium Essay

Financial Management

...Introduction | This is the assignment for the Understanding Financial Management unit. The aim of this unit is to develop understanding of finance within the context of an organisation, as required by a practising or potential middle manager.The task requires you to demonstrate your understanding of finance and the value of recording financial information within the context of your organisation. You are then asked to explain the process of budget setting in the organisation and how budgetary techniques are used to contribute to controlling cost in your own area of operation.If you are not currently working within an organisation, then you may complete this task in relation to an organisation with which you are familiar. This could include experience working in a voluntary capacity.The tasks you need to undertake are:- * read all the questions * complete the learning activities associated with this course * discuss the assignment with your coach at your tutorial * complete any other activities that you need to undertake for your assignment * answer the questions in the spaces provided Here are some tips on completing the assignment, based on submissions from previous students: * make sure you read and answer all the questions! Even the most accomplished writers have fallen down by providing answers that are exceptionally well written – but well off the mark. This is usually because they have not gathered a full understanding of the questions before embarking on...

Words: 3846 - Pages: 16

Free Essay

Financial Management

...Running Head: Financial Management Financial Management Valerie Cazeau Professor Roy Viar Contemporary Business Strayer University Abstract This assignment examines Google as one of the leaders in the information searching industry and its main competitor Microsoft with its introduction of Bing. The examination of these two organizations stem around their business models and their most recent financial statements which include, specific financial ratios, core business ideas, leading services, management styles and their innovation tracks. In addition, this assignment will analyze which company would better survive a major recession, which organization is better to invest in and provide the guidelines for doing so. Introduction To start, the financial ratios of Google and Microsoft will be listed. By doing this, it will create a great platform to analyze the companies’ differences and ultimately conclude which company shows the best resistance to a major recession and ultimately which company may be best to invest in. Here are the six main financial ratios that will be analyzed for Microsoft and Google. Microsoft Google Current Ratio 2.9 5.6 Return on Assets 21.9% 13.9% Return on Equity 39.5% 17.5% Debt Ratio .20 .08 Fixed Asset Turn Over Ratio .7 .6 Dividend Payout Ratio/Cash Flow Per Share $3.12 $34.90 Price/Earnings Ratio 3.64 18.0 (Google Inc. and Microsoft Corporation, 2011.......

Words: 1318 - Pages: 6

Premium Essay

Financial Management

...Financial Management 1. Google, a leader in Internet information searching, is being challenged by other big names in Internet technology.  Compare and contrast Google’s business model and financial management with Microsoft’s, which launched Bing. Access Google and Microsoft’s annual reports and financial statements at their Websites.  In addition to the text, you may access some other sites and or sources to understand the how to analyze an income statement and a balance sheet. For example, the following sites can provide guidance: 1. Calculate or identify from each company’s most recent annual report the six (6) specific financial ratios listed and provide as an appendix to the paper. 1. Liquidity measurement ratio: * Current ratio Google: 5.6 times Microsoft: 2.9 times 1. Profitability indicator ratios: * Return on assets Google: 15.6% Microsoft: 23.6% * Return on equity * Google: 19.5% * * Microsoft: 44.2% 1. Debt ratio: * Debt Equity ratio Google: 0.08 Microsoft: 0.2 1. Operating performance ratio: Asset turnover ratio Google: 0.6 Microsoft: 0.7 1. Cash flow indicator ratio: * Dividend payout ratio Google – Nil Microsoft- 0.64/2.69 =23.7% 1. Investment valuation ratio: * Price / Earnings ratio Google: 20.3 times Microsoft: 9.5 times 2. Compare and contrast each company’s business......

Words: 870 - Pages: 4

Premium Essay

Essentials of Management

...Licensed to: iChapters User Licensed to: iChapters User Essentials of Management, Ninth Edition Andrew J. DuBrin VP/Editorial Director: Jack W. Calhoun Editor-in-Chief: Melissa Acuña Executive Editor: Scott Person Developmental Editor: Jennifer King © 2012, 2009, 2006 South-Western, a part of Cengage Learning ALL RIGHTS RESERVED. No part of this work covered by the copyright hereon may be reproduced or used in any form or by any means— graphic, electronic, or mechanical, including photocopying, recording, taping, Web distribution, information storage and retrieval systems, or in any other manner—except as may be permitted by the license terms herein. Senior Editorial Assistant: Ruth Belanger Marketing Manager: Jonathan Monahan Senior Marketing Communications Manager: Jim Overly Content Project Management: PreMediaGlobal For product information and technology assistance, contact us at Cengage Learning Customer & Sales Support, 1-800-354-9706. For permission to use material from this text or product, submit all requests online at www.cengage.com/permissions. Further permissions questions can be emailed to permissionrequest@cengage.com. Media Editor: Danny Bolan Production Technology Analyst: Jeff Weaver Frontlist Buyer: Miranda Klapper Production House/Compositor: PreMediaGlobal Senior Art Director: Tippy McIntosh Permissions Acquisition Manager/Text: Mardell Glinski-Schultz Cover Designer: Stuart Kunkler,......

Words: 17447 - Pages: 70

Premium Essay

Essential of Management

...ESSENTIALS OF MANAGEMENT ➢ The need / scope / meaning & definition / process of management / managerial hierarchy MANAGERIAL FUNCTIONS ➢ Planning / Organizing / Staffing / Directing / Controlling MANAGERIAL SKILLS ➢ Technical / Conceptual / Human TYPES OF MANAGERS ➢ Functional / Specialists / Generalists / Line & Staff managers DECISION MAKING ENVIRONMENT ➢ Open & closed system / decision making under certainty, uncertainty & risk DECISION MAKING TYPES ➢ Structured / unstructured decisions ➢ Programmable / non-programmable ➢ Classical & Administrative Models DECISION MAKING STYLES ➢ Autocratic / Participative / Consultative Essentials of Management An International Perspective Harold Koontz & Heinz Weihrich Lesson 1 Characteristics of the term Organization: ➢ Social unit with a purpose Characteristics of the term Management ➢ Process of optimum utilization of the resources of the Organization to accomplish its goals Functions of Management ➢ Planning ➢ Organizing ➢ Leading ➢ Controlling ➢ Coordination Characteristics of the term Productivity ➢ A ratio of Output to Input ➢ It can be improved by o Increasing output with same inputs o Decreasing inputs, but maintaining the same output Characteristics of the term Effectiveness: ➢ Accomplishing of Objectives of the Organization Characteristics of the term Efficiency ➢ How Objectives......

Words: 6455 - Pages: 26