APS财务管理.docxVIP

A 核心课程财务管理（财务管理financial management 98、中级财务管理intermediate financial management 92、国际财务管理international financial management 91）Definition: Financial management belongs to comprehensive management, whichmakes enterprises organize fund movements and handle financial relationships. Enterprise: an economic organization, which is established according to law and engaged in production activities for profits. (2)Fund movement: enterprises’ funds change among different forms of assets (fixed assets, current assets, intangible assets) or among different stages of production and operation (supply, production, marketing, etc.).(3)Financial relationship: enterprises refer to economic relationships with different aspects (with investors, employees) when they organize fund movements. 2. TVM(Time Value Of Money)(1) Definition: value differences of funds caused by time factors. Source: appreciation brought by investmentsCalculation① interestA. Simple Interest: when the interest is calculated, former interests are not involved in the principal.B. Compound Interest: when the interest is calculated, former interests are involved in the principal.FV（future value): the sum of principal and interests after some yearsPV(present value): the present value of cash which will be received or paid in the futurei: interest rate 1FVn = PV(1 + i)n PV = FVn× (1 + i)n ②Annuity: a fixed amount of money paid or received each year. Such as insurance, taxesOrdinary annuity: a fixed amount of money paid or received end of each yearFVAn = A×(1+i)n-1 PVAn = A×(1+i)n-1 I i(1+i)nFinancing ModesStock: a share that a company is divided and sold to raise money.Share: any of the units of equal value stockBond: an agreement by a government or a company to pay you interest on the money you have lent.Bond issuing price=F: face value of bonds RM: market rate of interest when the bond is sold N: Bond period( when principle and the sum of interes