Finance
The Goals and Functions of Financial Management
We strive to maximize shareholder wealth through solid profitable growth and effective use of capital. ýSpecific financial goals are to achieve:ý
ý1.ý at least 30 percent of sales from products introduced during the last four years
ý2.ý growth in earning per share of more than 10 percent per year on average
ý3.ý growth in economic profit exceeding earnings per share growth, and return on invested capital ýamong the highest of industrial companies.ý
In order to achieve these goals, the financial manager must:ý
ý1.ý Manage their company’s global affairs
ý2.ý React quickly to changes in financial markets and exchange rates flactuations
The field of Finance
The field of Finance is closely related to economics and accounting, and financial managers need to ýunderstand the relationships between these fields.ý
Economics provides a structure of decision making in such areas as risk analysis, pricing theory ýthrough supply......
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