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Practical Financial Management, 8th Edition Solution Manual

Study more effectively with Practical Financial Management, 8th Edition Solution Manual, a student-friendly textbook guide.

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1CHAPTER 1FOUNDATIONSFOCUSChapter 1 is designed to provide an overview of finance. The emphasis is on breadth, lightly touching anumber of topics without going into a great deal of detail. The chapter provides a foundation on whichto base the more advanced work of later chapters.TEACHING OBJECTIVESStudents should gain an understanding of the following concepts:1. the basic nature of financial assets (securities) and the organization and operation of financialmarkets;2. the role and responsibility of financial management in corporations;3. the relationships between finance and accounting and between finance and economics, along with theimportance of cash flow in finance;4. thefinancialimplications of the proprietorship and corporate forms of business organizationincluding the true role of limited liability;5. the need for a top level managerial goal and why maximizing shareholder wealth works;6. stakeholder groups and conflicts of interest especially between management and stockholders.OUTLINEI.AN OVERVIEW OF FINANCEA.Financial AssetsDistinguish financial assets from real assets and establish the basis of their value in future cashflows.B.Financial MarketsDefine financial markets as networks within which financial assets are traded. Describe thepurpose of markets as transferring funds from investors to companies.C.Raising MoneyCorporations raise money in financial markets tofinanceprojects.D.Financial ManagementThe role of financial management within companies including Treasury and Control functionsand the responsibilities associated with each.E.The Price of Securities-A Link Between the Firm and the MarketThe market price of securities provides a link between the activities of management and theplayers in financial markets.II. FINANCE AND ACCOUNTINGThe relationship between finance and accounting conceptually and in the typical organization.A.The Importance of Cash FlowCash is king in finance. How that perception differs from the accounting viewpoint.B.The Language of FinanceFinancial people need to know at least a little accounting because it's the system in whichbusinesses "keep score."

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