FINANCE- ART OF MANAGING MONEY
a systematic manner of recording & summarizing all acc
BUDGETING-ACT OF ELIMINATING/ESTIMATING
REVENUE AND EXPENSES
EXCESS MONEY-OPPORTUNTY FOR INVESTMENT
INVESTMENT-GENERATE INCOME
Financial Management
1. Profit Maximization-The main aim of any kind of
economic activity is to earn profit. (INCREASE
NET INCOME)
2. Wealth Maximization -is a modern concept
(DEPTH PRESENT)
Key Individuals in Business Finance
1. Financial Manager- he is in charge of the overall
finance functions of a business. He develops
strategies and plans to achieve the financial
goals of the organization.
2. Controller-managing the accounting staff that
provides managerial accounting information
3. Treasurer- his primary duties include asset
safekeeping and cash management.
Functions of Financial Manager
1. Forecasting Financial Requirements
2. Acquiring Necessary Capital
3. Investment Decision
4. Cash Management
5. Interrelation with Other Departments
FINANCIAL SYSTEM
A SYSTEM THAT ALLOW TRANSFER MONEY
BETWEEN SAVERS AND BORROWERS
COMPONENTS OF FINANCIAL SYSTEM
1. FINANCIAL INTITUTIONS- banking/non-banking
2. FINANCIAL MARKETS- money &capital market
3. FINANCIAL INTRUMENTS- financial securities
4. FINANCIAL SERVICES-Investment & lending
Type1 no money no Type2 may money no
idea idea (investor)
Type3 no money may Type 4 may money
idea(entrepreneur) may idea
The accounting cycle-a step by step process performed in
events
MONTHS 30DAYS, QUARTERLY 3MNTHS, YEARLY 365DYS
1.Analyze business documents & transactions
2. prepare journal entries
3. posting
4. prepare unadjusted trial balance
5. prepare adjusting entries
6. prepare adjusted trial balance
7.prepare financial statements
8.prepare closing entries
9.prepare post-closing entries
10. prepare revising entries
Financial Statements -are reports that outline the
financial activities of a business.
The objective of financial statements is to provide
information about the financial position and the financial
performance
Financial position is the status of the assets, liabilities,
and owners' equity.
financial performance is a subjective measure of how
well a firm can use assets
C+NC+F=ASSETS
Current
NC-non-current
Financial
How to acquire necessary capital
 investment decision
 cash management
 interrelation
FLOW OF FUNDS
 DIRECT FINANCE
 INDIRECT FINANCE
MEIL According to Vivian (2009), the following are the things we usually
need media for

1. Personal dependence Mass Media: medium through which messages can be

2. Information disseminated to a mass audience.
3. Entertainment Media multi-tasking: simultaneous exposure to messages
4. Persuasion from different media.
Marketplace of ideas: concept that a robust exchange of
Media literacy- possession of knowledge to be competent ideas, with none barred, yields better consensus.
in assessing messages carried by mass media
Aufderheide (1992)- “a movement, which is designed to
help to understand, to produce, and negotiate meanings in
a culture of images, words and sounds.” Information Literacy An information literate person
She enumerated the following qualities of media: possesses the skills and techniques for measuring the
 Media are constructed and construct reality; value of information and molding this information to suit
 Media have commercial implications; their needs. (Zukowski, 1974)
 Media have ideological and political implications
 Form and content are related in each medium, each of What information is needed?
which has a unique aesthetic, codes, and conventions; 1. Relevance
 Receivers negotiate meaning in media 2. Validity
The European Commission (2007),- “Media literacy is 3. Reliability –
generally defined as the ability to access the media, 4. Timeliness
the commission has listed the various levels of media 5. Accuracy
literacy: 6. Completeness
 Feeling comfortable with the existence of media and
active use of media for entertainment, access to culture, The following basic information sources and its
intercultural dialogue, learning and daily life applications. characteristics (or why you should use this particular
 Having a critical approach to media with regards to source):
quality and accuracy of content  Books –
.  Using media creatively.  Scholarly articles
 Understanding the economy of media  Other periodicals –
 Being aware of copyright issues.   Internet –

factors to consider in media literacy: Ethical Use of Information

1. Factual foundation Plagiarism is defined as using a source without
2. Media dynamics credit. While it is unavoidable to use other
3. Media effects people’s information, it is no excuse to commit
4. Media issues plagiarism. This could be avoided by learning
the following:
Information Literacy
Hobbs (2006) described the nature of information literacy 1. . Citing – Citation is needed for the
as education that emphasizes “critical thinking, meta- acknowledgement of the original
cognitive, and procedural knowledge used to locate source of the information you used.
information in specific domains, fields and contexts.” 2. Quoting – is putting an exact or word-
by-word copy of the original author’s
Technology Literacy words
Shaphiro and Hughes (1996) defined technology literacy 3. Paraphrasing – is rewriting the original
as “the ability to ongoingly adapt to, understand, statement from a source in your own
evaluate, and make use of the continually emerging words.
innovations in information technology so as not to be a
prisoner of prior tools and resources and to make Types of Media
intelligent decisions about the adoption of new ones.” Print Media
 BOOS
Media technology is the product of human invention.  NEWSPAPERS
Some of the most distinct technologies used nowadays  MAGAZINES
that have evolved over the years are the following:
1. Printing technology
2. Chemical technology
Broadcast Media
3. Electronic technology
4. Digital technology
  Radio and Sound
Recording
 Television and Motion
Pictures

New Media -With the internet’s

emergence in the mid-1990s, it
has become a widely used
powerful medium in the world.

 Universal resource
locators (URL) – this is a
unique identifier that
allows computers to
connect to a network
and exchange messages
 Hypertext transfer
protocol (HTTP) – this is
the coding that would
allow computers to read
internet files.
 Hypertext markup
language (HTML) – a
simple computer
language which is used
to create messages
through the internet w

Media Convergence is
defined by Flew as the
“phenomenon involving
the interconnection of
information and
communications
technologies, computer
networks and media
content.”
 Technological
convergence i
 Social convergence

Media Convergence:
the overlapping and
connection between
information and
technologies used for
communication. Non-
newsrack magazines:
magazines specializing
on a wide variety of
topics made by an
organization/company
for its
members/employees.
Consumer magazines:
magazines intended for
public consumption.