About This Chapter
Financial Management Overview - Chapter Summary
The informative lessons in this chapter ensure you have a comprehensive understanding of financial management concepts, including revenue management, project cost control and fixed costs. Studying these lessons can enhance your ability to do the following:
- Discuss the role and responsibilities of financial managers
- Define working capital management
- Calculate net working capital
- Analyze cash flow statement patterns
- Make decisions using the statement of cash flows
- Share the definition of a variable cost
- Create a responsibility report
All lessons in this chapter are accessible anytime and from any location with an Internet connection. Choose the lessons you want to view and visit them as many times as you'd like to ensure you fully comprehend financial management basics. Check your understanding of the lessons by taking multiple-choice quizzes. If you have questions about topics covered in this chapter, feel free to send them to our experts.
1. The Role and Responsibilities of Financial Managers
Financial managers play a pivotal role in the success of companies. In this lesson, you'll learn about the duties and responsibilities of financial managers. You'll also have a chance to take a short quiz after the lesson.
2. What is Working Capital Management? - Definition & Examples
Have you ever wondered how a company manages its money and pays its bills? Working capital management is how companies are able to manage finances and continue operations.
3. How to Calculate Net Working Capital: Definition & Formula
To operate effectively, businesses must be able to pay their bills as they become due. The best way to determine a business' ability to pay its bills is to calculate its net working capital. Learn what net working capital is and how to calculate it in this lesson.
4. Analyzing Cash Flow Statement Patterns
The cash flow statement identifies where a company obtained and used cash during a specified period of time. In this lesson, we analyze the patterns conveyed by this statement.
5. Using the Statement of Cash Flows for Decision Making
In this lesson, we'll look at how cash flow statements. No matter how a cash flow statement is prepared it can help companies make the best possible decisions based on their current flexibility.
6. Fixed Costs: Definition, Formula & Examples
Understanding an organization's cost structure is essential for management to make appropriate investments. In this lesson, you'll learn the definition of fixed costs and why understanding fixed costs is an important part of financial management.
7. Variable Cost: Definition, Formula & Examples
In this lesson, we'll be looking at variable costs, which are those costs that change directly with production. After the lesson, you can test your knowledge with a short quiz.
8. Project Cost Control: Definition & Steps
The planning, monitoring, and control of project costs is critical to successful project delivery. In this lesson, you will learn about cost control systems and why cost control is important to project delivery.
9. Creating a Responsibility Report for a Cost Center
There is one simple rule when it comes to writing a responsibility report for a cost center - keep costs low! In this lesson, you'll find out how to express that by using a responsibility report.
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Other chapters within the HSC Business Studies: Exam Prep & Syllabus course
- Nature of Business
- Types of Business
- Business Industries in Australia
- Influences on Businesses in Australia
- Stakeholders in Business
- Business Cycle
- Global Markets in Business
- Management Skills
- Management Approaches
- Management Processes
- Business Planning & Strategy
- Business Forecasting
- Business Strategies & Values
- Operations Management & Inventory Management
- Scheduling in Operations Management Overview
- Supply Chain Management in Business
- Marketing Roles & Objectives
- Types of Markets
- Influences of Marketing in Australia
- Marketing Information & Research
- Marketing Strategy in Business
- Pricing Strategy in Business
- Promotion in Marketing
- Place & Distribution in Business
- International Marketing Basics
- Business Financing in Australia
- Financial Planning & Implementation
- Financial Monitoring & Control
- Financial Ratios
- Global Financial Management
- HRM: Human Resources Management
- Employee Acquisition & Development
- Human Resource Metrics & Measurement
- Employee Separation
- Legal Considerations in Australian HR
- HSC Business Studies Flashcards