The control system of corporate finance (or financial management) considerably changed recently. The field was updated scientific and methodical conceptual. It was connected with increase in a role of this science for modern practice of managing.
It is required to you
- The computer with the connected Internet.
Instruction
1. Financial management as science has several definitions. Financial management is a system and process of management of various cash flows which includes formation and use of financial resources of the organization, enterprise. On the other hand, financial management represents the science studying management of finance, creation of the various financial relations in order that the organization or the enterprise achieved the objectives.
2. The science of financial management includes an object and a subject. Object of financial management is a set of conditions for implementation of money turnovers, circulations of cost, the relations between the subject of managing, that is the enterprise, and the state. The subject of financial management are managers, that is specially created groups which are engaged in management of finance of the enterprise.
3. It is possible to allocate the following functions of science of financial management. It is possible to refer the routine and strategic planning of finance, use and an order of formation of funds, creation of a system of a turn to them finance, balancing of financial flows, creation of system effectiveness of the capital, control of use and receipt of money, motivation of workers by means of enterprise assets.
4. The science of financial management is engaged in the solution of various tasks and questions. Distinguish from them: organization of financial activity of the organization, calculations and tools of finance, calculation of investment risks, routine and long-term planning of financial security of the enterprise, financial position of the organization, management of the available investment portfolios and current assets.
5. Distinguish from methods of financial management such as assessment of solvency and financial stability of the enterprise, analysis of solvency of the organization and liquidity of balances, assessment of financial results of activity of the enterprise, analysis of turnover of other current assets and other financial coefficients.
6. Financial management as discipline represents specialization which raises the administrative and financial questions. They, meanwhile, are inherent in many economic disciplines – from finance of the enterprise before securities market. For this reason this discipline is considered boundary to many other economic sciences.