Shared Flashcard Set

Details

HSC Bus Stud - Financial 1
HSC Business Studies - Financial Planning & Management Part 1
12
Business
12th Grade
05/12/2010

Additional Business Flashcards

 


 

Cards

Term
Strategic role of financial management
Definition
To ensure that a new business continues to operate, grows and provides substantial profits.
Term
Objectives of financial management
Definition
Liquidity, Profitability, Efficiency, Growth and Return on Capital.
Term
Liquidity
Definition
Indicates how much ready cash (including current assets) is available in a business.
Term
Profitability
Definition
The ability to generate profit after all expenses have been paid for.
Term
Efficiency
Definition
The ratio of the output to the input in a business. Good efficiency is achieved when minimal input makes maximum output.
Term
Growth
Definition
Is when a business increases it's revenues.
Term
Planning Cycle
Definition
Goal, Strategy, Monitoring, Control
Term
Goal
Definition
The state of affairs that a plan is intended to achieve and that (when achieved) terminates behavior intended to achieve it.
Term
Strategy
Definition
A strategy is a plan of action designed to achieve a particular goal... which is, in most businesses cases, to increase revenue.
Term
Monitoring
Definition
Monitoring is the act of observing and reporting the strategy while it is in effect.
Term
Control
Definition
Control is where the business manager evaluates the goal and strategies to determine whether or not they were effective.
Term
Major participants in the financial markets include....?
Definition
Banks, Financial and Insurance Companies, Superannuation Funds, Government (Reserve Bank of Australia)
Supporting users have an ad free experience!