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Exam (elaborations)

FINANCIAL MANAGEMENT REVIEW - FINAL EXAM REVIEW QUESTIONS AND ANSWERS

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FINANCIAL MANAGEMENT REVIEW - FINAL EXAM REVIEW QUESTIONS AND ANSWERS

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FINANCIAL MANAGEMENT REVIEW -
FINAL EXAM REVIEW QUESTIONS
AND ANSWERS

Whatvfarevfthevffivevfmainvffunctionsvfofvffinancialvfmanagement?vf-vfanswer--
1.vfFinancingvffunction.
2.vfCapitalvfbudgetingvffunction.
3.vfFinancialvfmanagementvffunction.
4.vfCorporatevfgovernancevffunction.
5.vfRisk-managementvffunction.

Whatvfisvfthevffinancingvffunction?vf-vfanswer--
Raisingvfthevfcapitalvfnecessaryvftovffundvfavfbusiness.

Whatvfisvfthevfcapitalvfbudgetingvffunction?vf-vfanswer--Choosingvfthevfbestvflong-
termvfprojectsvfbasedvfonvfthevfprojects'vfexpectedvfrisksvfandvfreturns.

Whatvfisvfthevffinancialvfmanagementvffunction?vf-vfanswer--
Managingvfthevfbusiness'svfinternalvfcashvfflowsvfandvfcapitalvfstructurevftovfminimizevffina
ncingvfcostsvfandvfensurevfliabilitiesvfarevfpaidvfwhenvfdue.vfThisvfincludesvfmanagingvfinve
stments.

Whatvfisvfthevfcorporatevfgovernancevffunction?vf-vfanswer--
Makingvfsurevfthatvfmanagerialvfbehaviorvfisvfethicalvfandvfinvfthevfbusinessvfowners'vfbestvfi
nterests.

Whatvfisvfthevfrisk-managementvffunction?vf-vfanswer--
Identifyingvfandvfmanagingvfthevfbusiness'svfvariousvfkindsvfofvfrisks.

Whatvfdoesvfitvfmeanvftovfmanagevfworkingvfcapital?vf-vfanswer--
Makingvfsurevfthevfbusinessvfhasvfnetvfshort-termvfassetsvfavailablevftovfmeetvfshort-
termvfobligations.vfThisvfincludesvfmanagingvfinventoryvfandvfreceivables.

Whatvfisvfthevfworkingvfcapitalvfratio?vf-vfanswer--
Currentvfassetsvfminusvfcurrentvfliabilities.

Whatvfisvfthevfcurrentvfratio?vf-vfanswer--Currentvfassetsvfdividedvfbyvfcurrentvfliabilities.

Whatvfisvfthevfquickvfratio?vf-vfanswer--Quickvfassetsvfdividedvfbyvfcurrentvfliabilities.

Whatvfarevfquickvfassets?vf-vfanswer--
Cash,vfmarketablevfsecurities,vfandvfaccountsvfreceivable.vfSovfnotvfinventory.

Whatvfisvfthevfinventoryvfconversionvfperiodvfformula?vf-vfanswer--
Averagevfinventoryvfdividedvfbyvfcostvfofvfgoodsvfsoldvfpervfday.

, Whatvfisvfthevfaccountsvfreceivablevfcollectionvfperiodvfformula?vf-vfanswer--
Averagevfaccountsvfreceivablevfdividedvfbyvfaveragevfcreditvfsalesvfpervfday.

Whatvfisvfthevfaccountsvfpayablevfdeferralvfperiod?vf-vfanswer--
Averagevfpayablesvfdividedvfbyvfpurchasesvfpervfday.

Whatvfisvfthevfcashvfconversionvfcycle?vf-vfanswer--
Inventoryvfconversionvfperiodvfplusvfaccountsvfreceivablevfcollectionvfperiodvfminusvfacco
untsvfpayablevfdeferralvfperiod.

Whatvfisvfthevfpurposevfofvfthevfcashvfconversionvfcycle?vf-vfanswer--
Itvfmeasuresvfthevfnumbervfofvfdaysvfbetweenvfpayingvfforvfinputsvfandvfcollectingvfcashvffro
mvffinishedvfgoods.vfAvfshortervfCCCvfimprovesvfprofitability.

Whatvfarevfsomevfreasonsvfbusinessesvfkeepvfcashvfbalances?vf-vfanswer--
Operations,vfcompensatingvfbalances,vftradevfdiscounts,vfspeculativevfbalances,vf&vfprec
autionaryvfbalances.

Whatvfarevfcompensatingvfbalances?vf-vfanswer--
Avfminimumvfcheckingvfaccountvfbalancevfrequiredvfbyvfbanksvfinvfcompensationvfforvfloan
s.

Whatvfarevfspeculativevfandvfprecautionaryvfbalances?vf-vfanswer--
Moneyvfsavedvfforvfunexpectedvfbusinessvfopportunitiesvforvfemergencies.

Whatvfisvffloat?vf-vfanswer--
Thevftimevfitvftakesvfforvfcheckvftovfbevfmailed,vfprocessedvfandvfcleared.

Howvfcanvfyouvfprofitvffromvffloat?vf-vfanswer--
Maximizevffloatvfonvfpaymentsvfandvfminimizevffloatvfonvfreceipts.

Whatvfarevf5vfmethodsvfofvfmanagingvffloat?vf-vfanswer--1.vfPayvfbyvfdraftvforvfcheck.
2.vfZero-balancevfaccounts.
3.vfConcentrationvfbanking.
4.vfLock-boxvfsystem.
5.vfElectronicvffundsvftransfers.

Whatvfisvfthevfbenefitvfofvfavfzero-balancevfaccount?vf-vfanswer--
Youvfcanvfkeepvfyourvfmoneyvfwherevfyouvfwantvfitvfandvfonlyvftransfervfmoneyvftovfthevfbank
vfwhenvfthevfbankvftellsvfyouvftherevfarevfchecksvfyouvfneedvftovfpay.



Whatvfisvfthevfbenefitvfofvfconcentrationvfbanking?vf-vfanswer--
Youvfcanvfgetvfreceivablesvfquickervfthroughvfavflocalvfbranch.

Listvf9vfinvestmentsvfinvfordervfofvflowestvftovfhighestvfrisk.vf-vfanswer--
1.vfTreasuryvfbillsvfundervfavfyear.
2.vfTreasuryvfnotesvfbetweenvf1vfandvf10vfyears.
3.vfTreasuryvfbondsvfovervf10vfyears.
4.vfTreasuryvfinflated-indexedvfsecurities.

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