Introduction to Corporate Finance

Published: 2021-09-10 12:15:09
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Category: Business

Type of paper: Essay

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Welcome to Module One. We'll begin with a description of corporate finance, its core principles (such as compensation for risk) and the five basic corporate finance functions (financing, capital budgeting, financial management, corporate governance, and risk management). Then we'll briefly review the legal forms of business organization, placing greatest emphasis on the competitive advantages and characteristics of corporations. We'll discuss the goals of the corporate financial manager and the related issues of agency costs ethics.

We'll continue in the module by providing a broad overview of the most important source of accounting information: a firm's financial statements. The focus is not on how accountants construct these statements but rather on why these statements are important to financial managers. Then, we'll describe why and how finance places primary emphasis on measures of cash flow rather than on financial-statement-based measures of earnings, such as net income or earnings per share. We'll demonstrate how companies use the information from financial statements to calculate various ratios to analyze financial performance over time or to benchmark their results against those achieved by other firms.

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