SHINE

It is an important management responsibility that deals with the “procurement and administration of funds with the view of achieving the objective business”.

One of the three basic management functions.

The Finance Function: A Process Flow

THE DETERMINATION OF FUND REQUIREMENTS

Money must be made available for the payment of the following:

FINANCING THE FIRM’S CREDIT SERVICES

•Maintaining adequate inventory is crucial.

•Requires sufficient funding.

•For expansion, firms invest in capital assets (land, plant, equipment).

•Requires long-term financing sources.