Managing the Finance Function

Jun 21st, 2015
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Business firms need funds to finance their operations. To be assured of adequate supply of funds, there is a need to manage properly the finance function.-Business entities or firms need money for them to be able to finance their operation on a continuing basis.

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Managing the Finance FunctionSubmitted By:Group 10Sancha, Zaivil Sanchez, Vienna MarieSecreto, Cristine JoyTrijo, John LexusValdellon, Cammille dawnValdez, RonnajeanYapcenco,FatriciaHRDM 1-3Submitted to:Mrs. Jennifer ZabalaManaging the Finance FunctionBusiness firms need funds to finance their operations. To be assured of adequate supply of funds, there is a need to manage properly the finance function.Explanation:-Business entities or firms need money for them to be able to finance their operation on a continuing basis. To be assured that they have enough funds they need to mange the finance function well because if they fail to do so they might not be able to go on with their business.What the Finance Function is?It is an important management responsibility that is concerned with the procurement and administration of funds with the view of achieving the objectives of business.Explanation:If the manager is running the business as a whole he must be concern with the determination of the funds. He must know where the funds needed or it would be used, how to obtain these funds and how they can maximize the utilization of these funds so it would be used efficiently and effectively.The Determination of Fund RequirementsBusiness firms will need funds for the following specific requirements:1. To finance daily operations2. To finance the firm's credit services3. To finance the purchase of inventory; and4. To finance the purchase of major assetsFinanc

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