Financial Management PART 1 notes
| Institution | UNIVERSITY |
| Course | Financial Management |
| Year | 1st Year |
| Semester | Unknown |
| Posted By | Mwalimu Evans Okoyo. |
| File Type | |
| Pages | 160 Pages |
| File Size | 2.04 MB |
| Views | 7730 |
| Downloads | 0 |
| Price: |
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Description
Finance can be defined as the art and science of managing money. Virtually, all individuals and organizations earn or raise money and spend or invest money. Finance is concerned with the process, institutions, markets and instruments involved in the transfer of money among individuals, business and governments.
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Lecture 1: Introduction to Business studies
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Each business can be defined or described by its type of ownership, the goods produced or services offered, the types of jobs provided, or the functions it performs in a community.
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Lecture 2: Business Environment
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The environment of any organization is “ the aggregate of all conditions, events and influences that surround and affect it.”
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Lecture 3: Business and Society
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A Corporate Code of Ethics begins by setting out the values that underpin the code that describes a company's obligation to its stakeholders. The code is publicly available, details how the company plans to implement its values and vision, and contains guidance on ethical standards and how to achieve them.
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Lecture 4: Finacial Markets and Business
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Commodity Money consists of objects that have value in themselves as well as value in their use as money. Gold is an example of a material that has value in itself but has also
been used as a commodity money in the past.
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Lecture 5: Forms of Business Ownership
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Picking the best type depends on the nature of the business opportunity and the level of personal exposure to risk the owner is willing to accept.
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Lecture 6: Entrepreneurship
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An entrepreneur is someone who: Sees an opportunity – some hole in the market, or some way to better provide a current service and Works effectively to create a solution, carefully designing how the solution will be made and distributed.
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Lecture 7: Principles of Management
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Managers wear many hats and must bring with them an entire toolkit of skills-conceptual skills, human skills, and technical skills-in order to reach organizational goals and objectives effectively.
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Topic 5: LAW OF CONTRACT
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The Law of Contract Act 1961, S. 2(2) provides that, except as may be provided by any written law for the time being in force, the common law of England relating to contract, as modified by doctrines of equity and by the Acts of the United Kingdom Parliament specified in the schedule to the Act, to the extent and subject to modifications in the said schedule, shall extend and apply to Kenya.
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KEYNESIAN THEORY OF INCOME AND EMPLOYMENT
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The fundamental point of the Keynesian theory of income and employment is that employment is a function of income; the greater the level of national income, the greater the volume of employment and vice versa.
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