Chapter 1: The Role of Financial Management.

cover.gif After studying Chapter 1, you should be able to:

  1. Explain why the role of the financial manager today is so important.
  2. Describe "financial management" in terms of the three major decision areas that confront the financial manager.
  3. Identify the goal of the firm and understand why shareholders' wealth maximization is preferred over other goals.
  4. Understand the potential problems arising when management of the corporation and ownership are separated.
  5. Understand the basic responsibilities of financial managers and the differences between a "treasurer" and a "controller."
  6. Discuss the issues underlying social responsibility of the firm.

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