EBK CFIN
6th Edition
ISBN: 9781337671743
Author: BESLEY
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Chapter 1, Problem 2PROB
Summary Introduction
To determine: why people pursuing career in Business must be equipped with knowledge of Finance
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What is Finance? How is Finance different from Accounting? What are important basic points that should be learned to
pursue a career in finance?
What is finance, and why is it important to understand finance to run a successful business?
Why is it important for persons in marketing, accounting, production and other areas in the firm to understand finance?
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How can a company expand itself out of business, and how can a finance management prevent this from happening?
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In the real world, what are the main challenges that a Finance Manager faces while tryingto run a business entity? Elaborate on the same.
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Explain how financial institutions serve the needs of consumers, small businesses, and corporations. In the event the needs are provided how can it impact the consumer services?
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How are financial accountants pressured when they need to make ethical decisions in their work? Is having technical mastery of GAAP enough to practise financial accounting?
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Why is it important you possess at least a rudimentary understanding of accounting and being able to read financial statements, regardless of whether your profession is inside or outside of accounting/finance?
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Describe the kinds of activities that financial management involves.
What kind of tools do financial managers leverage to access and/or monitor the health and performance of a business?
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what is the job of a financial intermediary*? What might happen if they fail to do their job?
*as part of your response, you should probably name the different types of financial intermediaries
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