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2 years ago

Finance managers spend the majority of their time managing ____.

Business

2 answers:

Juli2301 [7.4K]2 years ago

8 0

Answer:

The answer would be, long-term financial needs

Explanation:

Financial managers maintain a firm’s financial health by developing long-term investment activities and financing strategies. In order to develop these long-term investments and financing activities, financial managers conduct data analysis and offer advice to senior management on ideas that can maximize the firm’s profits. Moreover, financial managers develop direct investment activities, financial reports, and formulate plans and strategies to achieve the long-term financial goals of a company.

AfilCa [17]2 years ago

8 0

Answering the question, finance managers spend the majority of their time managing short-term financial needs.

Short time finance can be defined as finance needs for a short period. The short period is usually not up to a year. In many businesses, short term finance is also called working capital financing.

<h2>Further Explanation</h2>

Businesses need short time finance to take care of the uneven flow of cash, and for most firms, short term finance is used to finance all kinds of inventory and many more.

There are different types of short term financing and these include:

Trade credit
Short term loans
Business line of credit

Trade credit: firms can get also receive credits from their suppliers or manufacturers. This type of credit is called trade or mercantile credit. The duration of the credit usually lasts between 30 and 90 days. A firm can access trade credit upon opening an account with their suppliers.

Short term loans: firms can also take advantage of short terms loans. This type of short term financing can be granted by banks or other financial institutions.

Business line of credit: it is regarded as the most suitable of all the types of short term financing. It is a type of short term financing in which a certain amount is approved by a financial institution. The firm will have to make a deposit anytime their customers make a payment to the firm.

LEARN MORE:

Binh was recently named general manager of a newly created business brainly.com/question/13500110
Finance managers spend the majority of their time managing brainly.com/question/6711724

KEYWORDS:

finance mangers
short term needs
majority
company
inventory

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Answer:

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1 554,184 17,100 22,167.36 5,067.36 559,251

2 559,251 17,100 22,370.05 5,270.05 564,521

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journal entries

cash 554,184 debit

discount on bond payable 15,816 debit

bonds payable 570,000 credit

--to record issuance of the bonds--

interest expense 22,167.36 debit

discount on BP 5067.36 credit

cash 17100 credit

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This, will generate a new carrying value so the process is repeated until maturity.

The journal entries will be as follows:

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We assume a liability so tis credited and we also create the discount account to adjust the face value of the bond to what we really get for them

<u>on interest payment:</u>

we credit the cash outlay in favor of the bondholders

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and we credit the discount by the difference

<u>retirement</u>

we credit the total cash outlay (principal + interest of the period)

we write-off the bonds payable and the bond discount

we reocgnize the last interest expense under debit

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