About This Chapter
MEGA Marketing: Principles of Financial Management- Chapter Summary
The lessons in this chapter explore principles of financial management, including financial planning, the role of a financial manager, and principles of accounting. Also reviewed are financial statements, balance sheets, and income statements. By the end of this chapter, you should be familiar with:
- The financial planning process
- Roles and responsibilities of financial managers
- Purpose and format of financial statements, balance sheets, income statements, and statements of cash flow
- Preparing income statements, balance sheets, and statements of cash flow
- External audits of financial statements
- Fundamental principles of accounting
Short, engaging video lessons are accompanied by transcripts, where important terms are in bold type. Self-assessment quizzes can be used to test your knowledge, or printed as worksheets. Knowledgeable instructors are available to answer any questions you may have.
Principles of Financial Management - Chapter Objectives
The Missouri Educator Gateway Assessments demonstrate competency in various subject areas and passing them is a requirement for licensing as a teacher. The Marketing exam measures competency in core marketing principles, marketing functions, and global marketing and research. The content in this Financial Management chapter of the study guide covers material that is tested in the core marketing principles section, which comprises about 36% of the entire exam. The questions on the exam are multiple-choice, and the test is administered via computer.
1. The Financial Planning Process
Financial planning is essential for the success of any business. In this lesson, you'll learn about the financial planning process that businesses perform, including preparation of a master budget, capital budget and cash budget.
2. 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.
3. What Are Financial Statements? - Definition, Purpose & Importance
Financial statements are big players in the world of accounting. In this lesson, you will be introduced to each of the financial statements. You will also learn what their role is in the accounting industry, who they are important to and why they are important.
4. The Balance Sheet: Purpose, Components & Format
There are four financial reports that make up a group known as the financial statements. We will take a walk with one of those reports - the balance sheet - and learn what it is, what items are included on it and what its role in the group is.
5. What Is an Income Statement? - Purpose, Components & Format
There are four financial reports that are created during the accounting cycle. These four reports make up what is commonly known as the financial statements. In this lesson, we will focus our attention on the income statement. We will learn what the income statement is, what its role in the financial statements is, and why it is important in accounting.
6. The Statement of Cash Flows: Purpose, Format & Examples
There are four financial reports that are required in financial statements. In this lesson, you will learn about the fourth and final report - the statement of cash flows. You'll learn what the makeup of the statement is, its purpose, and why it is important to users of the financial statements.
7. The Purpose of Notes on Financial Statements
Financial statements are very important in accounting and finance. In this lesson, you will learn about notes to the financial statements, what information they may give, and why they are important to financial statement users.
8. Preparing the Basic Income Statement and Statement of Retained Earnings
Preparing financial statements can be tricky. In this lesson, we are going to talk about how to prepare the first two basic financial statements: the income statement and the statement of retained earnings.
9. How to Prepare the Basic Balance Sheet and Statement of Cash Flows
There are four reports that make up the financial statements. In this lesson, we will talk about how to create the balance sheet and the statement of cash flows. You will learn how to format the reports, as well as what information is reported on them.
10. External Audits of Financial Statements
Financial statements are one of the most heavily relied upon group of reports in the business world, and they must be accurate and reliable. In this lesson, you'll learn about financial statement audits, who performs them, and why they are important.
11. The Fundamental Principles of Accounting
Accounting is an art, but just as with any form of art, you need the right tools to make your masterpiece. For accounting, those tools are the seven major accounting principles. In this lesson, you will learn what those principles are and what they are used for.
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Other chapters within the MEGA Marketing: Practice & Study Guide course
- MEGA Marketing: Basic Concepts
- MEGA Marketing: Communication Methods & Functions
- MEGA Marketing: Environments & Strategies
- MEGA Marketing: Ethics & Public Relations
- MEGA Marketing: The Business Cycle
- MEGA Marketing: Market System Economics & Politics
- MEGA Marketing: Economic Growth & Indicators
- MEGA Marketing: Business Ownership
- MEGA Marketing: Business Plans
- MEGA Marketing: Functions of Management
- MEGA Marketing: Business Calculation Basics
- MEGA Marketing: Interpreting Data & Graphs
- MEGA Marketing: Graphing & Evaluating Equations & Functions
- MEGA Marketing: Quadratic Equations & Functions
- MEGA Marketing: Probability & Statistics for Business
- MEGA Marketing: Depreciation & Salvage Values
- MEGA Marketing: Interest & Purchases
- MEGA Marketing: Financial Analysis Calculations
- MEGA Marketing: Product Development & Retailing
- MEGA Marketing: Services Marketing
- MEGA Marketing: The Marketing Mix & Promotional Strategies
- MEGA Marketing: Consumer Protection Laws
- MEGA Marketing: Selling & Pricing Strategy
- MEGA Marketing: Channel Management
- MEGA Marketing: Segmentation & Product Marketing
- MEGA Marketing: Competitive Advantage
- MEGA Marketing: Consumer Decision Making
- MEGA Marketing: International Marketplace
- MEGA Marketing: Research & Data Applications
- MEGA Marketing: Computer Literacy
- MEGA Marketing: Careers in Marketing
- MEGA Marketing Flashcards