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Ch 38: PLACE Business Education: Financial Management

About This Chapter

The videos in this chapter go over important financial management topics you'll need to know to be properly prepared for the PLACE Business Education test. Take a quiz after each lesson to make sure you retained the information presented.

PLACE Business Education: Financial Management - Chapter Summary

This chapter will go over topics like short- and long-term financial planning, accounting and payroll to help you prepare for the PLACE Business Education test. The lessons also cover the following financial management topics:

  • Financial managers responsibilities
  • The financial planning process
  • Debt and equity
  • Various forms of financial assets
  • The relationship between expenses and revenue
  • Time value of money and the measuring the money supply
  • Determining payroll costs
  • Making business decisions using accounting

Our skilled and qualified instructors guide you through each topic and you'll be able to review the video as often as you need. Each lesson includes a myriad of other resources, such as video transcripts and quizzes that reinforce the information you studied in the video lesson.

PLACE Business Education: Financial Management Chapter Objectives

The PLACE Business Education test has five subareas, including one on Accounting, Finance and Business Law. In addition to testing your understanding of accounting best practices and business law, you may be asked questions about financial management. This Financial Management chapter will help you with those very questions, so you can be even better prepared for this portion of the PLACE Business Education exam.

All of the questions in the Accounting, Finance and Business Law section are multiple choice. You'll be able to preview the types of questions that may appear on the exam by taking the quizzes at the end of every lesson in this chapter.

19 Lessons in Chapter 38: PLACE Business Education: Financial Management
Test your knowledge with a 30-question chapter practice test
The Role and Responsibilities of Financial Managers

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.

The Financial Planning Process

2. 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.

Debt Capital Vs Equity Capital

3. Debt Capital Vs Equity Capital

Sufficient capital is essential for starting, maintaining and growing a business. In this lesson, you'll learn how a corporation can raise capital through equity and debt. You'll also learn about the advantages and disadvantages of each approach.

Sources of Short-Term Financing

4. Sources of Short-Term Financing

Companies often need to utilize financing to cover shortfalls in cash flow. In this lesson, you'll learn about sources of short-term financing available to companies including trade credit, lines of credit, bank loans and credit cards.

Sources of Long-Term Financing

5. Sources of Long-Term Financing

Some businesses require a large amount of capital to get off the ground or expand. In this lesson, you'll learn about sources of long-term financing, including commercial loans, selling equity and issuing debt.

What Is Equity Financing? - Definition, Pros, Cons & Examples

6. What Is Equity Financing? - Definition, Pros, Cons & Examples

Equity financing is as necessary to a business as air is to a person, but because it comes in several forms, it can easily be misunderstood. This article explains the various types of equity financing and explores their advantages and disadvantages for both companies and investors.

Types of Financial Assets: Money, Stocks & Bonds

7. Types of Financial Assets: Money, Stocks & Bonds

For an economy to operate effectively, consumers and businesses need a common medium of exchange and mechanisms to encourage some people to save, others to borrow and others to invest. In any modern economy, these needs are met with money, stocks and bonds.

Accrued Expenses & Revenues: Definition & Examples

8. Accrued Expenses & Revenues: Definition & Examples

Accruals are a part of the accounting world for most businesses. In this lesson, you will learn about two important parts of the concept of accruals: accrued revenue and accrued expenses.

Present and Future Value: Calculating the Time Value of Money

9. Present and Future Value: Calculating the Time Value of Money

A central concept in business and finance is the time value of money. We will use easy to follow examples and calculate the present and future value of both sums of money and annuities.

Measuring the Money Supply: Explanation and Examples

10. Measuring the Money Supply: Explanation and Examples

Discover how the Federal Reserve defines the money supply by exploring the components of the money stock. In this lesson, we also look at the money supply in terms of function and liquidity.

The Role of Cost Accounting in Management

11. The Role of Cost Accounting in Management

Accounting can be generally defined as 'showing where the money came from and where it went.' Cost accounting, however, is much more data driven and useful to management. In this lesson, we'll learn how, and why.

Payroll Cost Calculations

12. Payroll Cost Calculations

Watch this video lesson to learn how the money you earn from a job, your paycheck, is calculated based on the number of hours you have worked. Also learn how taxes are calculated as well as overtime pay.

Using Accounting Concepts to Make Business Decisions

13. Using Accounting Concepts to Make Business Decisions

There are several accounting concepts that make up the generally accepted accounting principles (GAAP). Using these principles, managers are better able to read and understand financial statements needed to make business decisions.

What Is Capital? - Definition & Concept

14. What Is Capital? - Definition & Concept

Capital is a fundamental concept in business. In this lesson, you'll learn about capital and some related concepts. You'll also have a chance to take a short quiz after the lesson to reinforce your knowledge.

What Are Capital Resources? - Definition & Examples

15. What Are Capital Resources? - Definition & Examples

The manufacturing process varies widely for businesses creating all types of goods, though all utilize resources. This lesson explains what capital resources are, how they are essential to the production of goods, and the difference between capital resources and raw materials.

What Is Working Capital? - Definition & Formula

16. What Is Working Capital? - Definition & Formula

This lesson explains what working capital is, how it is used in a business, and why businesses need working capital to stay functional. We'll also look at the formula used to calculate working capital.

Capital Requirements: Definition & Explanation

17. Capital Requirements: Definition & Explanation

Capital is a critical concept in business management - companies that don't manage their capital well often go out of business quickly. In this lesson, we'll discuss what capital is, how it's calculated, and how a company can determine their upcoming needs.

Capital Goods: Definition & Examples

18. Capital Goods: Definition & Examples

Capital goods are essential for the business activities of many companies. In this lesson, you'll learn what capital goods are and how they fit into the overall picture of a company.

Physical Capital: Definition and Effects on Productivity

19. Physical Capital: Definition and Effects on Productivity

This lesson explains what physical capital is and why it's important to an economy. Using real-world examples, you'll see how it relates to the process of producing goods and services, which is a major foundation of economic growth.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the PLACE Business Education: Practice & Study Guide course

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