Financial Management

An Overview of Financial Management and the Financial

Environment
Vicky Rosalia, SE., M.Si
Department of Accounting
Faculty of Business and Economics
Universitas Sumatera Utara
Jalan Dr. T. Mansur No.9, Padang Bulan, Kec. Medan Baru, Kota Medan,
Sumatera Utara 20222
Email : vickyrosalia@usu.ac.id
Gambaran Umum Manajemen Keuangan dan Lingkungan
Keuangan

Apple memenangkan kontes kecantikan global perusahaan atau setidaknya dihormati

sebagai perusahaan paling terkemuka menurut survei Fortune. Di sepuluh besar global,
termasuk Amazon, Starbucks, Berkshire Hathaway, Disney, Alphabet (dahulu Google),
General Electric, Southwest Airlines, Facebook, dan Microsoft. Apa yang membedakan
perusahaan ini? Hasil survei eksekutif, direktur, dan analis menunjukkan nilai tinggi
pada sembilan aspek: inovasi, manajemen berkualitas, investasi jangka panjang,
tanggung jawab sosial, manajemen personalia, produk dan layanan berkualitas,
kesehatan keuangan, pengelolaan aset, da n efektivitas bisnis global. Peringkat akhir
ditentukan oleh lebih dari 3.800 ahli lintas industri setelah mengeliminasi yang lemah.
Apa yang membuat perusahaan ini istimewa? Mereka mengurangi biaya lewat inovasi
produksi, memberi nilai melalui produk berkualitas bagi pelanggan, dan menciptakan
nilai bagi karyawan melalui pelatihan dan lingkungan yang mendukung penggunaan
keterampilan
 1-1 The Five-Minute MBA

• successful companies have skilled people

• successful companies have strong relationships
• successful companies have enough funding
1-2 Finance from 40,000 Feet Above
1-3 The Corporate Life Cycle

• Starting Up as a Proprietorship
• More Than One Owner: A Partnership
• Many Owners: A Corporation
• Growing a Corporation: Going Public
• Managing a Corporation’s Value
 1-4 Governing a Corporation

• The Primary Objective of a Corporation: Maximizing

Stockholder Wealth
• Intrinsic Stock Value Maximization and Social Welfare
-Ordinary Citizens and the Stock Market
-Employees at Value-Maximizing Companies
-Consumers and Competitive Markets
 1-5 An Overview of Financial Markets
• The Net Providers and Users of Capital
• Getting Cash from Providers to Users: The Capital Allocation
Process
1-6 Claims on Future Cash Flows: Types of
Financial Securities

• Type of Claim on Future Cash Flows: Debt and Equity

-Debt
-Equity
-Rates and Maturity of Claims
• Type of Claim on Future Cash Flows: Derivatives and Hybrids
• Type of Claim on Future Cash Flows: Securitized Financial
Assets
 1-7 Claims on Future Cash Flows: The
Required Rate of Return (the Cost of
Money)
• Fundamental Factors That Affect the Required Rate of Return
(the Cost of Money
-Production Opportunities
-Time Preference for Consumption
-Risk
-Expected Inflation
1-7b Economic Conditions and Policies
That Affect the Required Rate of Return
(the Cost of Money
(1) Federal Reserve policy, (2) the federal budget deficit or
surplus, (3) the level of business activity, and (4) international
factors.
1-8 The Functions of Financial Institutions
• Investment Banks and Brokerage Activities
• Deposit-Taking Financial Intermediaries
-Savings and Loan Associations (S&Ls)
-Credit Unions
-Commercial Banks
• Investment Funds
-Mutual Funds
-Hedge Funds
-Private Equity Funds
• Life Insurance Companies and Pension Funds
• Regulation of Financial Institutions
1-9 Financial Markets
• Types of Financial Markets
• Why Are Secondary Markets Important?
• Trading Procedures in the Secondary Markets
1-10 Overview
of the U.S.
Stock Markets
1-11 Trading in the Modern Stock Markets

• Reg NMS: Stock Transactions, Quotes, and the “Market Price”

• Where Is Stock Traded?
• High-Frequency Trading (HFT)
• Stock Market Returns
 1-12 Finance and the Great Recession of
2007
• The Globalization of Mortgage Market Securitization
• The Dark Side of Securitization: The Sub-Prime Mortgage
Meltdown
• From Sub-Prime Meltdown to Liquidity Crisis to Economic Crisis
• Responding to the Economic Crisis
• Preventing the Next Crisis
 1-13 The Big Picture
• e-Resources
When we think it might be helpful for you to look at resources on the book’s
Web site, we’ll show an icon in the margin like the one shown here. The Web
site contains several types of files that will be helpful to you:
1. It contains Excel files, called Tool Kits, that provide well-documented models
for almost all of the text’s calculations. Not only will these Tool Kits help you
with this finance course, but they also will serve as tool kits for you in other
courses and in your career.
2. There are problems at the end of the chapters that require spreadsheets,
and the Web site contains the models you will need to begin work on these
problems. Other resources are also on the Web site, including an electronic
library that contains Adobe PDF files for “extensions” to many chapters that
cover additional useful material related to the chapter.
Thankyou