This course introduces the student to purchasing procedures, departmental operations, and immediate and long-range planning. The course covers both food and other products that must be purchased and examines various purchasing methods in relation to price, service, and costs. Alternate fall sem. AC 102 and junior or senior. Fundamental concepts of managerial finance are studied, including the function of finance, the financial environment, and corporate structure.
Much emphasis is given to the study of the time value of money.
Financial statement analysis and forecasting are studied. Other topics covered include financial planning and control, working capital policies, inventory models, and credit management and policy. The study of working capital management is developed further with cash and marketable security management and short-term financing being included. Other topics covered include capital budgeting techniques, risks and investment returns, leverage, cost of capital, dividend policy, capital markets, lease financing, and financial management of a small firm. An introduction to economic principles that includes national income determination, supply, demand, inflation, employment levels, money and banking, fiscal and monetary policy, and international trade and balance of payments.