This document provides definitions and concepts related to financial management. It defines financial management as dealing with planning and controlling a firm's financial resources. The document outlines the traditional, transitional, and modern approaches to financial management. It discusses the functions of financial management including investment, financing, and dividend decisions. The objectives of financial management are described as profit maximization and wealth maximization. The document also covers the importance of effective financial management.
This document provides an introduction to ratio analysis and financial management. It discusses key topics including the importance of finance, definitions of financial management, types of financial analysis including horizontal and vertical analysis, the objectives and functions of financial management such as investment, financing, and dividend decisions. The document aims to give an overview of ratio analysis and various aspects of financial management.
The document discusses the key concepts of financial management. It defines financial management as the process of acquiring and managing assets to meet organizational goals. The scope of financial management has both a traditional and modern approach, with the modern approach encompassing both acquiring and allocating funds. The main components of financial management are planning, asset/liability management, reporting, transaction processing and control. Important functions of financial management include investment, financing, and dividend decisions. The objectives of financial management are profit maximization, return maximization, and wealth maximization.
This document provides an overview of financial management concepts including the financial goals of profit and wealth maximization. It discusses the finance functions of investment, financing, and dividend decisions. The costs of capital such as cost of debt, preferred stock, equity, and retained earnings are explained. The document also covers topics such as the scope of financial management decisions, organization of the finance function, financial planning process, sources of funds, and concepts of financing decisions, capitalization, capital structure, and financial structure. Determinants that influence a company's capital structure are also outlined.
Financial management involves planning, organizing, and controlling the acquisition and use of financial resources to achieve organizational goals. It includes making investment, financing, and dividend decisions. The objectives of financial management are profit maximization and wealth maximization. Under the modern approach, the scope of financial management covers both acquiring funds and allocating funds efficiently. Key functions include capital budgeting, working capital management, determining optimal debt-equity ratios, and establishing dividend policies. Sources of finance include equity, debt, retained earnings, and trade credit.
The document discusses various aspects of financial management including its definition, scope, traditional and modern approaches, functions, objectives, and sources of finance. Specifically, it defines financial management as dealing with planning and controlling a firm's financial resources. It also discusses the functions of investment, financing, and dividend decisions and how financial management aims to maximize profit and shareholder wealth.
The document defines financial management and discusses its scope and functions. Under the traditional approach, the scope of finance is restricted to procuring funds, while the modern approach covers both acquiring and allocating funds efficiently. The key functions of financial management are investment decisions, financing decisions, and dividend decisions. Investment decisions involve capital budgeting and working capital management. Financing decisions determine the optimal debt-equity ratio. Dividend decisions balance paying dividends to shareholders with retaining profits for reinvestment.
This document provides definitions and concepts related to financial management. It defines financial management as dealing with planning and controlling a firm's financial resources. The document outlines the traditional, transitional, and modern approaches to financial management. It discusses the functions of financial management including investment, financing, and dividend decisions. The objectives of financial management are described as profit maximization and wealth maximization. The document also covers the importance of effective financial management.
This document provides an introduction to ratio analysis and financial management. It discusses key topics including the importance of finance, definitions of financial management, types of financial analysis including horizontal and vertical analysis, the objectives and functions of financial management such as investment, financing, and dividend decisions. The document aims to give an overview of ratio analysis and various aspects of financial management.
The document discusses the key concepts of financial management. It defines financial management as the process of acquiring and managing assets to meet organizational goals. The scope of financial management has both a traditional and modern approach, with the modern approach encompassing both acquiring and allocating funds. The main components of financial management are planning, asset/liability management, reporting, transaction processing and control. Important functions of financial management include investment, financing, and dividend decisions. The objectives of financial management are profit maximization, return maximization, and wealth maximization.
This document provides an overview of financial management concepts including the financial goals of profit and wealth maximization. It discusses the finance functions of investment, financing, and dividend decisions. The costs of capital such as cost of debt, preferred stock, equity, and retained earnings are explained. The document also covers topics such as the scope of financial management decisions, organization of the finance function, financial planning process, sources of funds, and concepts of financing decisions, capitalization, capital structure, and financial structure. Determinants that influence a company's capital structure are also outlined.
Financial management involves planning, organizing, and controlling the acquisition and use of financial resources to achieve organizational goals. It includes making investment, financing, and dividend decisions. The objectives of financial management are profit maximization and wealth maximization. Under the modern approach, the scope of financial management covers both acquiring funds and allocating funds efficiently. Key functions include capital budgeting, working capital management, determining optimal debt-equity ratios, and establishing dividend policies. Sources of finance include equity, debt, retained earnings, and trade credit.
The document discusses various aspects of financial management including its definition, scope, traditional and modern approaches, functions, objectives, and sources of finance. Specifically, it defines financial management as dealing with planning and controlling a firm's financial resources. It also discusses the functions of investment, financing, and dividend decisions and how financial management aims to maximize profit and shareholder wealth.
The document defines financial management and discusses its scope and functions. Under the traditional approach, the scope of finance is restricted to procuring funds, while the modern approach covers both acquiring and allocating funds efficiently. The key functions of financial management are investment decisions, financing decisions, and dividend decisions. Investment decisions involve capital budgeting and working capital management. Financing decisions determine the optimal debt-equity ratio. Dividend decisions balance paying dividends to shareholders with retaining profits for reinvestment.
Financial management deals with planning and controlling a firm's financial resources. It involves three main functions: investment decisions, financing decisions, and dividend decisions. The investment decision involves deciding how funds should be allocated to long-term assets through capital budgeting and short-term assets through working capital management. The financing decision determines the optimal mix of debt and equity. The dividend decision establishes the portion of profits to distribute to shareholders versus retaining for reinvestment. The objectives of financial management are typically to maximize profits or shareholder wealth through efficient allocation of funds.
This document outlines key topics in foundations of finance including:
- The meaning and definition of finance as the system of creating, circulating, and managing money as a medium of exchange.
- The scope and objectives of financial management including investment decisions, financing decisions, and dividend decisions.
- The importance of financial management in strategic planning, decision making, controlling, and maximizing profits.
- Several principles of finance such as the risk-return tradeoff, time value of money, importance of cash flow over profits, benefits of diversification, influence of taxes on decisions, and importance of liquidity.
This document discusses the scope and functions of financial management. It defines financial management as dealing with planning and controlling a firm's financial resources to harmonize individual and enterprise goals. The scope of financial management can be categorized under the traditional or modern approaches. The traditional approach focuses only on procuring funds, while the modern approach covers both acquiring and allocating funds efficiently. The main functions of financial management are making investment, financing, and dividend decisions. Investment decisions involve selecting assets, financing decisions determine the capital structure, and dividend decisions impact shareholder value. Financial management aims to maximize profit and shareholder wealth. Sources of finance include equity shares, preference shares, debentures, retained earnings and various types of loans.
This document discusses key concepts in financial management. It begins by defining finance and its importance in economic activities. It then discusses different types of finance including private, public, individual, partnership and business finance. The main topics covered include financial management, its objectives like profit maximization and wealth maximization, liquidity management, approaches to financial management including traditional and modern approaches, and the main functions of finance like investment, financing, liquidity and dividend decisions. Criticisms of profit and wealth maximization objectives are also provided. The document provides an overview of fundamental concepts in the field of financial management.
Financial management concerns decisions about acquiring, financing, and managing assets to achieve goals. It involves investment decisions about what assets to hold, financing decisions about how to pay for assets, and asset management decisions about efficient use of assets. The primary objectives are maximizing profits, returns, and shareholder wealth through decisions that consider factors like the firm's size, risk level, and the economic environment.
This document is a project report submitted by a student named Vivek Shriram Mahajan to the University of Mumbai in partial fulfillment of an M.Com degree. The report studies basic concepts of working capital at SBI and ICICI Bank.
The report includes an introduction to financial management and working capital. It defines working capital and discusses the balance sheet and operating cycle concepts of working capital. The report also provides an industry profile of SBI and ICICI Bank and comments on the basic concepts of working capital at these banks based on the study.
This document introduces fundamentals of corporate finance. It discusses managing cash flows, raising and allocating resources, and controlling finances efficiently. Corporate finance focuses on long-term financial structure and plans, financing, capital structure, investments, and dividends. The role of financial managers is to identify value-adding strategies, forecast funding needs, and represent shareholder interests by making decisions around long-term investments, financing, and working capital.
Financial management deals with acquiring and allocating capital funds to meet a business' financial needs and objectives. It involves making decisions around how large and fast a firm should grow, what assets it should hold, and how it should structure its financing. The traditional approach to financial management focused on raising and administering funds, while the modern approach views it as integral to overall management, involving investment, financing, dividend, and funds requirement decisions aimed at profit maximization, wealth maximization, or stakeholder value.
Financial management deals with acquiring and allocating capital funds to meet a business' financial needs and objectives. It involves making decisions around how large and fast a firm should grow, what assets it should hold, and how it should structure its financing. The traditional approach to financial management focused on raising and administering funds, while the modern approach views it as integral to overall management, involving investment, financing, dividend, and funds requirement decisions aimed at profit maximization, wealth maximization, or stakeholder value.
This document provides an introduction to financial management. It outlines the nature, purpose and scope of financial management, including maximizing shareholder value. It discusses the relationship between financial objectives and organizational strategy/objectives. Key responsibilities of a financial manager include investment, financing, and working capital decisions to achieve the firm's financial goals. The document also introduces forms of business organization and their advantages/disadvantages.
1. Financial management concerns the acquisition, financing, and management of assets with the overall goal of maximizing shareholder wealth.
2. There are three primary financial decisions: investment decisions about what assets to hold, financing decisions about how to pay for assets, and asset management decisions about efficiently managing existing assets.
3. The objectives of financial management include maximizing profits, returns, and shareholder wealth through effective investment, financing, and dividend decisions.
Corporate finance refers to planning, developing and controlling the capital structure of a business to increase organizational value and profit through optimal decisions on investments, finances and dividends. It focuses on acquiring, managing and allocating financial resources such as capital to meet the funding needs of a business. The key functions of corporate finance include investment decisions, financing decisions, and dividend decisions which are interrelated and aim to maximize shareholder wealth.
The document provides an overview of financial management concepts including the meaning, nature, scope and objectives of financial management. It discusses the organizational structure of a finance department and key responsibilities of a financial manager such as capital budgeting, investment decisions, and cash management. The document also covers understanding capital markets, related disciplines like finance and accounting, components and major differences between the old and new formats of a balance sheet as per Indian accounting standards. In summary, the document serves as an introductory guide to basic concepts in the field of financial management.
This document discusses the key concepts of financial management including its meaning, scope, objectives and related disciplines. Financial management aims to maximize shareholder wealth through investment analysis, working capital management, capital structure decisions, and dividend policy. The scope of financial management has evolved from a traditional approach focused on capital markets to a modern approach providing a framework for strategic financial decision-making. The objectives of financial management are typically profit maximization or wealth/shareholder value maximization. A case study on Reliance Industries outlines its strategic vision to reinforce its existing businesses and pursue new opportunities in industries like petroleum, retail, telecommunications and education.
This document is a project report submitted by a student named Vivek Shriram Mahajan to the University of Mumbai for their M.Com degree. The report analyzes ratios for two major Indian banks, State Bank of India and ICICI Bank, to evaluate their liquidity, activity, solvency, profitability, and shareholders ratios. The introduction provides background on financial management and ratio analysis. The report then gives an industry profile of each bank and provides comments on the ratio analysis.
Financial management involves planning for a business's future cash flow and maintaining financial assets. It includes raising funds, allocating funds, planning profits, and understanding capital markets. The traditional approach viewed finance as procuring funds, while the modern approach sees it as both raising and utilizing funds effectively. Financial management aims to maximize shareholder wealth by making optimal investment, financing, dividend, and liquidity decisions.
This document provides an overview of corporate finance and key concepts. It discusses that finance involves the transfer of money among individuals, businesses, and governments. The three main categories of finance are public finance, corporate finance, and personal finance. Corporate finance focuses on a firm's investment and financing decisions. The three main financial decisions for firms are the investment decision, financing decision, and dividend decision. The document also discusses objectives of financial management, including profit maximization and wealth/shareholder value maximization.
This document provides an overview of financial management. It defines key terms like finance, financial management, and discusses the nature and objectives of financial management. It also discusses the relationship between financial management and other business functions like economics, accounting, production etc. Additionally, it covers topics like agency theory, business policies and their impact on financial decisions, and contemporary issues in financial management.
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
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Financial management deals with planning and controlling a firm's financial resources. It involves three main functions: investment decisions, financing decisions, and dividend decisions. The investment decision involves deciding how funds should be allocated to long-term assets through capital budgeting and short-term assets through working capital management. The financing decision determines the optimal mix of debt and equity. The dividend decision establishes the portion of profits to distribute to shareholders versus retaining for reinvestment. The objectives of financial management are typically to maximize profits or shareholder wealth through efficient allocation of funds.
This document outlines key topics in foundations of finance including:
- The meaning and definition of finance as the system of creating, circulating, and managing money as a medium of exchange.
- The scope and objectives of financial management including investment decisions, financing decisions, and dividend decisions.
- The importance of financial management in strategic planning, decision making, controlling, and maximizing profits.
- Several principles of finance such as the risk-return tradeoff, time value of money, importance of cash flow over profits, benefits of diversification, influence of taxes on decisions, and importance of liquidity.
This document discusses the scope and functions of financial management. It defines financial management as dealing with planning and controlling a firm's financial resources to harmonize individual and enterprise goals. The scope of financial management can be categorized under the traditional or modern approaches. The traditional approach focuses only on procuring funds, while the modern approach covers both acquiring and allocating funds efficiently. The main functions of financial management are making investment, financing, and dividend decisions. Investment decisions involve selecting assets, financing decisions determine the capital structure, and dividend decisions impact shareholder value. Financial management aims to maximize profit and shareholder wealth. Sources of finance include equity shares, preference shares, debentures, retained earnings and various types of loans.
This document discusses key concepts in financial management. It begins by defining finance and its importance in economic activities. It then discusses different types of finance including private, public, individual, partnership and business finance. The main topics covered include financial management, its objectives like profit maximization and wealth maximization, liquidity management, approaches to financial management including traditional and modern approaches, and the main functions of finance like investment, financing, liquidity and dividend decisions. Criticisms of profit and wealth maximization objectives are also provided. The document provides an overview of fundamental concepts in the field of financial management.
Financial management concerns decisions about acquiring, financing, and managing assets to achieve goals. It involves investment decisions about what assets to hold, financing decisions about how to pay for assets, and asset management decisions about efficient use of assets. The primary objectives are maximizing profits, returns, and shareholder wealth through decisions that consider factors like the firm's size, risk level, and the economic environment.
This document is a project report submitted by a student named Vivek Shriram Mahajan to the University of Mumbai in partial fulfillment of an M.Com degree. The report studies basic concepts of working capital at SBI and ICICI Bank.
The report includes an introduction to financial management and working capital. It defines working capital and discusses the balance sheet and operating cycle concepts of working capital. The report also provides an industry profile of SBI and ICICI Bank and comments on the basic concepts of working capital at these banks based on the study.
This document introduces fundamentals of corporate finance. It discusses managing cash flows, raising and allocating resources, and controlling finances efficiently. Corporate finance focuses on long-term financial structure and plans, financing, capital structure, investments, and dividends. The role of financial managers is to identify value-adding strategies, forecast funding needs, and represent shareholder interests by making decisions around long-term investments, financing, and working capital.
Financial management deals with acquiring and allocating capital funds to meet a business' financial needs and objectives. It involves making decisions around how large and fast a firm should grow, what assets it should hold, and how it should structure its financing. The traditional approach to financial management focused on raising and administering funds, while the modern approach views it as integral to overall management, involving investment, financing, dividend, and funds requirement decisions aimed at profit maximization, wealth maximization, or stakeholder value.
Financial management deals with acquiring and allocating capital funds to meet a business' financial needs and objectives. It involves making decisions around how large and fast a firm should grow, what assets it should hold, and how it should structure its financing. The traditional approach to financial management focused on raising and administering funds, while the modern approach views it as integral to overall management, involving investment, financing, dividend, and funds requirement decisions aimed at profit maximization, wealth maximization, or stakeholder value.
This document provides an introduction to financial management. It outlines the nature, purpose and scope of financial management, including maximizing shareholder value. It discusses the relationship between financial objectives and organizational strategy/objectives. Key responsibilities of a financial manager include investment, financing, and working capital decisions to achieve the firm's financial goals. The document also introduces forms of business organization and their advantages/disadvantages.
1. Financial management concerns the acquisition, financing, and management of assets with the overall goal of maximizing shareholder wealth.
2. There are three primary financial decisions: investment decisions about what assets to hold, financing decisions about how to pay for assets, and asset management decisions about efficiently managing existing assets.
3. The objectives of financial management include maximizing profits, returns, and shareholder wealth through effective investment, financing, and dividend decisions.
Corporate finance refers to planning, developing and controlling the capital structure of a business to increase organizational value and profit through optimal decisions on investments, finances and dividends. It focuses on acquiring, managing and allocating financial resources such as capital to meet the funding needs of a business. The key functions of corporate finance include investment decisions, financing decisions, and dividend decisions which are interrelated and aim to maximize shareholder wealth.
The document provides an overview of financial management concepts including the meaning, nature, scope and objectives of financial management. It discusses the organizational structure of a finance department and key responsibilities of a financial manager such as capital budgeting, investment decisions, and cash management. The document also covers understanding capital markets, related disciplines like finance and accounting, components and major differences between the old and new formats of a balance sheet as per Indian accounting standards. In summary, the document serves as an introductory guide to basic concepts in the field of financial management.
This document discusses the key concepts of financial management including its meaning, scope, objectives and related disciplines. Financial management aims to maximize shareholder wealth through investment analysis, working capital management, capital structure decisions, and dividend policy. The scope of financial management has evolved from a traditional approach focused on capital markets to a modern approach providing a framework for strategic financial decision-making. The objectives of financial management are typically profit maximization or wealth/shareholder value maximization. A case study on Reliance Industries outlines its strategic vision to reinforce its existing businesses and pursue new opportunities in industries like petroleum, retail, telecommunications and education.
This document is a project report submitted by a student named Vivek Shriram Mahajan to the University of Mumbai for their M.Com degree. The report analyzes ratios for two major Indian banks, State Bank of India and ICICI Bank, to evaluate their liquidity, activity, solvency, profitability, and shareholders ratios. The introduction provides background on financial management and ratio analysis. The report then gives an industry profile of each bank and provides comments on the ratio analysis.
Financial management involves planning for a business's future cash flow and maintaining financial assets. It includes raising funds, allocating funds, planning profits, and understanding capital markets. The traditional approach viewed finance as procuring funds, while the modern approach sees it as both raising and utilizing funds effectively. Financial management aims to maximize shareholder wealth by making optimal investment, financing, dividend, and liquidity decisions.
This document provides an overview of corporate finance and key concepts. It discusses that finance involves the transfer of money among individuals, businesses, and governments. The three main categories of finance are public finance, corporate finance, and personal finance. Corporate finance focuses on a firm's investment and financing decisions. The three main financial decisions for firms are the investment decision, financing decision, and dividend decision. The document also discusses objectives of financial management, including profit maximization and wealth/shareholder value maximization.
This document provides an overview of financial management. It defines key terms like finance, financial management, and discusses the nature and objectives of financial management. It also discusses the relationship between financial management and other business functions like economics, accounting, production etc. Additionally, it covers topics like agency theory, business policies and their impact on financial decisions, and contemporary issues in financial management.
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1. JSPM’S IMPERIAL COLLEGE OF ENGG. & RESEARCH,
DEPARTMENT OF MBA
CONTENT
Introduction
What is Financial Management
Scope of Financial management
Traditional approach
Modern approach
Components of Financial management
Importance of Financial management
Finance function
Investment decisions
Finance decisions
Dividend decisions
Functions of Financial management
Prof. Dr. Prabha Singh
2. COPY THIS LINK AND SEE THE VIDEO
https://www.youtube.com/watch?v=oKxzoDskVr
4
JSPM’s Imperial College of Engg. & Research,
Department of MBA
Prof. Dr. Prabha Singh
3. INTRODUCTION
Financial management is an integrated decision
making process, concerned with acquiring,
managing and financing assets to accomplish
overall goals within a business entity.
Speaking differently, it is concerned with making
decisions relating to investments in long term
assets, working capital, financing of assets and
so on.
JSPM’s Imperial College of Engg. & Research,
Department of MBA
Prof. Dr. Prabha Singh
4. What is Financial Management?
Financial management capacity is a cornerstone of
organizational excellence.
Financial management pervades the whole organization as
management decisions almost always have financial
implications.
JSPM’s Imperial College of Engg. & Research,
Department of MBA
Prof. Dr. Prabha Singh
5. Meaning of Financial Management
Financial management entails planning for the future of a
person or a business enterprise to ensure a positive cash flow,
including the administration and maintenance of financial
assets.
The primary concern of financial management is the assessment
rather than the techniques of financial quantification.
Some experts refer to financial management as the science of
money management.
JSPM’s Imperial College of Engg. & Research,
Department of MBA
6. SCOPE OF FINANCIAL MANAGEMENT
The scope and functions of financial
management is classified in two categories.
Traditional approach
Modern approach
JSPM’s Imperial College of Engg. & Research,
Department of MBA
Prof. Dr. Prabha Singh
7. Traditional Approach
According to this approach, the scope of the finance
function is restricted to “procurement of funds by
corporate enterprise to meet their financial needs.
The term ‘procurement’ refers to raising of funds
externally as well as the inter related aspects of
raising funds.
JSPM’s Imperial College of Engg. & Research,
Department of MBA
Prof. Dr. Prabha Singh
8. TRADITIONAL APPROACH
The inter related aspects are the institutional
arrangement for finance, financial instruments
through which funds are raised and legal and
accounting aspects between the firm and its
sources of funds.
In traditional approach the resources could be
raised from the combination of the available
sources.
JSPM’s Imperial College of Engg. & Research,
Department of MBA
9. LIMITATIONS OF TRADITIONAL APPROACH
This approach is confirmed to ‘procurement
of funds’ only.
It fails to consider an important aspects i.e.
allocation of funds.
It deals with only outside I.e. investors,
investment bankers.
JSPM’s Imperial College of Engg. & Research,
Department of MBA
10. LIMITATIONS OF TRADITIONAL APPROACH
The internal decision making is completely
ignored in this approach.
The traditional approach fails to consider the
problems involved in working capital
management.
The traditional approach neglected the issues
relating to the allocation and management of
funds and failed to make financial decisions.
JSPM’s Imperial College of Engg. & Research,
Department of MBA
11. MODERN APPROACH
The modern approach is an analytical way of
looking into financial problems of the firm.
According to this approach, the finance
function covers both acquisition of funds as
well as the allocation of funds to various uses.
Financial management is concerned with the
issues involved in raising of funds and efficient
and wise allocation of funds.
JSPM’s Imperial College of Engg. & Research,
Department of MBA
12. MAIN CONTENTS OF MODERN APPROACH
How large should an enterprise be and how far
it should grow?
In what form should it hold its assets?
In what form should it hold its assets?
- Financial management is concerned with
finding answer to the above problems.
JSPM’s Imperial College of Engg. & Research,
Department of MBA
13. Components of Financial Management
The five basic components of the Financial
Management Framework are:
Planning and Analysis
Asset and Liability Management
Reporting
Transaction Processing
Control
JSPM’s Imperial College of Engg. &
Research,
Department of MBA
14.
15. Importance of Financial Management
Financial management is concerned with procurement and utilization of
funds in a proper way. It is important because of the following
advantages:
1. Helps in obtaining sufficient funds at a minimum cost.
2. Ensures effective utilization of funds.
3. Tries to generate sufficient profits to finance expansion and
modernization of the enterprise and secure stable growth.
4. Ensures safety of funds through creation of reserves,
re-investment of profits, etc.
JSPM’s Imperial College of Engg. & Research,
Department of MBA
16. Finance function
The finance function relates to three major decisions which the
finance manager has to take:
Investment decisions
Finance decisions
Dividend decisions
JSPM’s Imperial College of Engg. & Research,
Department of MBA
17. Investment decision:
This decision relates to the careful selection of assets in
which funds will be invested by the firm. It Involves buying,
holding, reducing, replacing, selling & managing assets.
Common questions involving Investments include:
In what lines of business should the firm engage?
Should the firm acquire other companies?
What sort of property, plant, equipment should the firm
hold?
Should the firm modernise or sell an old production
facility?
JSPM’s Imperial College of Engg. & Research,
Department of MBA
18. FINANCING DECISIONS:
Financing decisions involve the acquisition of funds needed to
support long-term investments.
While taking this decision, financial management weighs the
advantages and disadvantages of the different sources of
finance.
The business can either finance from its shareholder funds which
can be subdivided into equity share capital, preference share
capital and the accumulated profits.
Borrowings from outsiders include borrowed funds like
debentures and loans from financial institutions.
JSPM’s Imperial College of Engg. & Research,
Department of MBA
19. DIVIDEND DECISIONS:
This decision relates to the appropriation of profits earned. The two
major alternatives are to retain the profits earned or to distribute
these profits to shareholders.
While declaring dividend, a large number of considerations are kept in
mind such as:
Trend of earnings
Stability in dividends
The trend of share market prices
The requirement of funds for future growth
The cash flow situation
Restrictions under the Companies Act
The tax impact on shareholders etc.
JSPM’s Imperial College of Engg. & Research,
Department of MBA
21. Objectives of Financial Management
The objectives or goals of financial management are-
(a) Profit maximization,
(b) Return maximization, and
(c) Wealth maximization.
JSPM’s Imperial College of Engg. & Research,
Department of MBA
22. Objectives of Financial Management
(1)Profit maximization: Maximization of profits is generally regarded as
the main objective of a business enterprise.
(2)Return Maximization: Another goal of financial management is to
safeguard the economic interest of the persons who are directly or
indirectly connected with the company, i.e., shareholders, creditors
and employees.
(3)Wealth Maximization: Maximization of profits is regarded as the
proper objective of the firm but it is not as inclusive a goal as that
of maximizing its value to its shareholders.
JSPM’s Imperial College of Engg. & Research,
Department of MBA
23. Functions of Financial
Management
Functions of financial management can be divided into two
groups:
Executive (or managerial)functions
Incidental or routine functions
JSPM’s Imperial College of Engg. & Research,
Department of MBA
24. Executive functions:
These functions involve financial, investment and dividend decision
making.
Executive functions involve the following decisions:
Financial Forecasting
Investment decisions
Managing corporate asset structure
The management of income
Management of cash
Deciding about new sources of finance
To contact and carry negotiations for new financing
Analysis and appraisal of financial performance
Advising the top management
JSPM’s Imperial College of Engg. & Research,
Department of MBA
25. Incidental functions:
They are performed by low level assistants like
accountants, account assistants etc. They include:
Record keeping and reporting
Preparation of various financial statements
Cash planning and its supervision
Credit management
Custody and safeguarding different financial securities etc.
Providing top management with information on current and
prospective financial conditions of the business.
JSPM’s Imperial College of Engg. & Research,
Department of MBA