2. Finance in an organization Corporate finance is concerned with the different aspects of a business's financial management. The chief financial officer (CFO) is the top financial position in the organization and oversees several tasks. The CFO is not responsible for which of the following departments? Check all that apply. Accounting O Administration Human resources O Marketing O Credit The Sarbanes-Oxley Act, passed by Congress in 2002, requires CEOS and CFOS to certify that the firm's: financial statements are accurate O balance sheet includes forecasted information O financial statements are unbiased toward analyst expectations O financial statements are audited
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- . What is the primary goal of management? What are the primary tasks of a Chief Financial Officer (CFO) and others in finance function of an organization?Corporate finance is concerned with the different aspects of a business’s financial management. The chief financial officer (CFO) is the top financial position in the organization and oversees several tasks. The CFO is not responsible for which of the following departments? Check all that apply. Treasury Investor relations Research and development Accounting Legal issues The Sarbanes–Oxley Act, passed by Congress in 2002, requires CEOs and CFOs to certify that the firm’s: balance sheet includes forecasted information financial statements are unbiased toward analyst expectations financial statements are accurate financial statements are audited4. Match the description with its appropriate term. Group choices: a. Chief Financial Officer b. Financial Analyst c. Enrolled Agent d. Chief Executive Officer e. Controller f. Cash Managemnet Accountant Has responsibilities that include transferring monies between accounts and monitoring deposits? The corporation officer who has the overall responsibility of the management of a company? A corporate officer who reports to the chief executive officer and oversees all of the accounting and finance concerns of a company? The financial officer of a corporation reporting to the chief financial officer who is responsible for the accounting records and financial statements? A credential focusing on a career in taxation created by the IRS to signify significant knowledge of the US tax code? Someone who assists in preparing budgets, tracking actual costs and performs other tasks that support other management personnel in organizing forecasts and projections?
- 17. External users of financial information: A. Are those individuals involved in managing and operating the company. B. Include internal auditors and consultants. ) C. Are not directly involved in running the company. D. Make strategic decisions for a company. E. Make operating decisions for a company.Indicate whether the following statements are (True) or (False) and correct the false statements: Accounting is concerned with the process institutions, markets, and instruments involved in the transfer of money among and between individuals, businesses and government Financial services are concerned with the duties of the financial manager. The corporate controller is the officer responsible for the firm's financial activities such as financial planning and fund raising. Profit maximization is the main goal of a business organization. (True) The net accounting profit is the difference between the cash inflows and cash outflows of a given project. Financial markets are intermediaries that channel the savings of individual, businesses, and governments into loans or investments. Primary and secondary markets are markets for short-term and long-term securities, respectively. Public offering is the sale of a new security issue, typically bonds or preferred stock, directly to an…Class book: Fundamentals of Corporate Finance by Brealey, Myers, and Marcus Financial Managers - Explain the difference between the CFO's responsibilities and the treasurer's and controller's responsibilities.
- Role of controller, role of chief financial officer. George Jimenez is the controller at Balkin Electronics, a manufacturer of devices for the computer industry. The company may promote him to chief financial officer. In this table, indicate which executive is primarily responsible for each activity. Activity Controller CFO Managing the company’s long-term investments Presenting the financial statements to the board of directors Strategic review of different lines of businesses Budgeting funds for a plant upgrade Managing accounts receivable Negotiating fees with auditors Assessing profitability of various products Evaluating the costs and benefits of a new product design Based on this table and your understanding of the two roles, what types of training or experience will George find most useful for the CFO position?What are the three important questions that are usually considered by a financial manager of a listed company? Elaborate on each of the questions and provide a real-life example of each. Why does the corporate form of business organization superior when it comes to raising cash and corporate governance? What is an agency problem? What is the major reason that an agency relationship exists in a corporate form of business organization? In this context, what kind of problem can arise? Describe two means to reduce the agency problem in a corporate entity. Draw a diagram to indicate the interplay between corporations and financial markets. Using the diagram drawn, trace (describe) the passage of cash from the financial markets to the firms and from the firms back to the financial markets. Financial markets function as both primary and secondary markets for debt and equity securities. Differentiate between the two markets in terms of the transfer of cash and the types of securities traded in…Identify the following statements as either True or False: 1. Financial accounting reports pertain to the entity as a whole, whereas managerial accounting focuses more on subunits of the organization. 2. organization. Staff positions are directly involved in the company's primaty revenue- generating activities. 3. Managerial reports are prepared on an as needed basis.  4. Both managerial accounting and financial accounting deal with many of the same economic events. 5. Financial accounting reports are typically general purpose reports. 6. Financial accounting reports often must be audited at least annually by an independent auditor. 7. Preparation of budget is part of financial accounting. 8. Managerial accounting reports must comply with the rules in place by the FASB. 9. Managerial accounting applies only to merchandising and manufacturing companies. 10. The main users of the financial accounting information are the internal users. 
- Question 1 (i) Examples of economic stakeholders areA. customers, suppliers, banks and other debt holdersB. the board membersC. shareholders and employeesD. Any stakeholder who has a direct or indirect stake in the company (ii) The board of directors isA. The only governance mechanism in an organisationB. Only a fiction according to the managerial definition of corporate governanceC. Have the power to monitor managerial opportunism onlyD. The main principal in an agency relationship (iii) Stakeholders areA. only those who have contributed something that is at risk with the firmB. only actors who have a legitimate stake in the corporationC. all the actors who may be influenced or who may influence a corporationD. None of the above (iv) Which ONE of the following would not be described as an institutional investor?A. BanksB. Pension fundsC. Insurance companiesD. Employees holding shares through an employee share schemeWhat type of financial challenges is most important for Chief Financial Officers (CFOs) to address immediately?The objective of financial reporting is to provide information about the financial position, performance and as well as changes in financial position of a business in order to assist in making economic decisions. Briefly discuss the importance of the financial reporting framework and its role in corporate governance.