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Week 11 Assignment Notes

by: Rachel Notetaker

Week 11 Assignment Notes BUS 1010

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Notes on the three objectives for the Finance chapter and on the WSJ article.
Intro to Business
Bill Tumblin
Class Notes
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This 2 page Class Notes was uploaded by Rachel Notetaker on Tuesday March 8, 2016. The Class Notes belongs to BUS 1010 at Clemson University taught by Bill Tumblin in Summer 2015. Since its upload, it has received 26 views. For similar materials see Intro to Business in Business at Clemson University.

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Date Created: 03/08/16
Week 11 Assignment: Finance The first three learning Objectives Explained Explain the roll and responsibilities of financial managers.  Finance activities include preparing budgets; doing cash flow analysis;  and planning for the expenditure of funds on such assets as plant,  equipment, and machinery.  Financial management is the job of  managing a firm’s resources to meet its goals and objectives. Financial  managers examine financial data prepared by accountants and  recommended strategies for improving the financial performance of the firm.  Outline the financial planning process, and explain the three key  budgets in the financial plan. Financial planning means analyzing short­term and long­term money  flows to and from the firm. Its overall objective is to optimize the  firm’s profitability and make the best user of its money. It has three  steps: (1) forecasting the firm’s short­term and long­term financial  needs, (2) developing budgets to meet those needs, and (3) establishing  financial controls to see whether the company is achieving its goals.  Three key budgets in the financial plan: A capital budget highlights a firm’s spending plans for major asset  purchases that often require large sums of money, like property,  buildings, and equipment.  A cash budget estimates cash inflows and outflows during a particular  period, like a month or a quarter. It helps managers anticipate  borrowing needs, debt repayment, operating expenses, and short­term  investments, and is often the last budget prepared. The operating (or master) budget ties together the firm’s other  budgets and summarizes its proposed financial activities. More  formally, it estimates costs and expenses needed to run a business,  given projected revenues. The firm’s spending on supplies, travel, rent,  technology, advertising, and salaries is determined in the operating  budget, generally the most detailed a firm prepares. Explain why firms need operating funds.  Virtually all organizations have operational needs for which they  need funds. Key areas include:   Managing day­by­day needs of the business  Controlling credit operations  Acquiring needed inventory  Making capital expenditures Wall Street Journal article: “Burger King Returns to Its Roots” Now that their brand is back on track what are executives thinking?  What financial measure grew faster than most of their big rivals? Why  did 3G sell nearly all­company owned stores (a strategic/financial  decision)? Executives now feel comfortable again about expanding in this country (America)—potential to add thousands of new Burger Kings. Same-store sales at U.S. and Canadian restaurants grew 5.7% last year, better than most big rivals. 3G sold nearly all company-owned restaurants to franchisees to reduce risk and to focus on building the brand.


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