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Principles of Finance Bus 219

Principles of Finance Bus 219. Summary of Part 1 Personal Finance. Personal Finance Topics. Time value of $ Financial aspects of career planning Financial statements and budgeting Tax strategy Financial services Credit and debt management Purchasing strategies including lease vs buy

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Principles of Finance Bus 219

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  1. Principles of FinanceBus 219 Summary of Part 1 Personal Finance

  2. Personal Finance Topics • Time value of $ • Financial aspects of career planning • Financial statements and budgeting • Tax strategy • Financial services • Credit and debt management • Purchasing strategies including lease vs buy • Housing decisions • Insurance • Investing • Retirement planning

  3. Keys to Financial Planning Success • Have a plan (budget) to make more than you spend • Save the difference to achieve your goals • Save regularly (dollar cost averaging) • Use tax deductible/deferred vehicles whenever possible • Diversify • Monitor your plan to keep it on track • Manage Risk (what if you die early, live too long, get sick or disabled; protect property)

  4. Part II- Financial Management in the Organization • Corporation & CFO • NPV Etc • Discounted cash-flow analysis • Project analysis • Cost of capital • Financing & Governance

  5. Our Goal Learn how to use financial management “thinking” for problem-solving and decision-making in your personal and professional roles: • 1.As a manager/owner in Small business • 2.Manager in a corporation • 3. Family member

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