The Finance

1054 Words Aug 21st, 2012 5 Pages
Eric Ahn
Charles Sorrell
Bohdana Partridge
FINANACE PAPER

A firm and its team of managers must make a variety of important decisions to ensure the financial and organizational success on the day-to-day, short-term and long-term horizon. However, in spite of the many other important decisions, arguably one of the most important decisions a firm and its managers must make involves the budgeting and management of financial outlays. By seeking wise counsel, many organizations are able to see the visible fruits that are the yield of good stewardship and decisions. The book of Proverbs was a series of exhortations and encouragements written by King Solomon to his son. In chapter 23 verse 23, Solomon states, “Buy truth, and do not sell it;
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Although at times, the sight of quick profits causes the weak to astray from the right path, there are no shortcuts to success and lasting prosperity. “The plans of the diligent lead to profit as surely as haste leads to poverty” (Proverb 21:5).
Chapter 16 in the Foundation of Financial Management talks about long-term debt and lease financing. A constant theme in the bible is to avoid long-term debt, in which is consistently warned to be avoided. Proverbs 22:7 say, “The rich rules over the poor, and the borrower is a slave to the lender.” This verse speaks on how one becomes a slave to a person he or she is in debt to. Though this image isn’t a situation someone would desire, the bible also contains a solution for this predicament. This solution is found in Psalm 37:21, where it says: “The wicked borrow and do not repay, but the righteous give generously.” Clearly this verse allows a way out from such a negative situation. The bible allows someone to become righteous if he just merely pays back. Overall, to fix our finance troubles of long-term debt and leasing, God teaches us to have good financial stewardship to be wise with what is given to us and praise him through our execution with our finances as well. The human nature has an difficult time examining what we want and what we need, in which what we want quickly becomes our necessities. Proverbs 23:4-5 says, “Do not wear yourself out to get

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