1. To make money, they must first spend money. Inventory and supplies must be bought, equipment and facilities acquired, employees paid.
2. Revenues from sales of the firm’s products.
3. Financial managers are the ones who keep track of how money is flowing into and out of the firm.
4. Decide how the available funds will be used, how much money is needed, and where to get it.
5. The art and science of managing a firm’s money so it can meet the goals.
6. To collect and present financial data.
7. Financial managers use financial statement prepared by accountants to make financial decisions.
8. Analyzed financial data, and prepare and implement financial plans.
9. Coordinate information from such areas marketing and production to develop and carry out financial strategies.
10. Handled by either the accounting department or one or two people.
11. Financial planning, investment, and financing.
12. Budgets are a way to control expenses and compare the actual performance to the forecast.
13. To plan and control the firm’s financial activities.
14. Cash budgets, capital budgets, and operating budgets.