phân tích vai trò và mục tiêu của tài chính doanh nghiệp vai trò của CFO trong doanh nghiệp e

Phân tích vai trò và mục tiêu của tài chính doanh nghiệp
Part 1: Self-review
Question: Analyze the role and objectives of corporate finance. He or She
comments on the role of CFO (Chief financial officer) in the enterprise. The
necessity of this job title in enterprises in Vietnam.
About form, corporate finance are money market funds in the creation,
distribution, use and movement associated with the operation of businesses.
In essence, Corporate finance is the economic relationship in the form of value that
arise, associated with the creation and use of enterprise fund money in the process of
business activities.
Thus, the role of corporate finance shown in the following aspects:
Ensure needs of capital for businesses:
- Increase efficiency of business capital. The organization to use savings and
efficiency capital are considered because this is conditions for the existence of any
business development. Corporate Finance has an important role in the evaluation
and selection of optimal investment projects, raising the maximum amount of
capital available to business activities,distributing a reasonable financial resources ,
using measures to increase the turnover of capital, improve the profitability of
venture capital;
- Leverage stimulate and regulate business. This role of corporate finance is
expressed through the creation of reasonable purchase to attract investment capital ,
labor, materials, services, and determine the reasonable price when issuing shares,
sale of goods, services and activities through distribution of business income, bonus
distribution fund, wage fund, implementation of economic contracts ...
Monitoring general business activities:

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The financial situation of enterprises is a mirror that reflects the most realistic of
all business operations of the enterprise through financial performance targets that

the business managers to easily see the economic situation of enterprises, from
which generalizations can assess and control the activities of the enterprises, timely
detection of problems, which exist to make the decision to adjust the operating
business .Its aim is to achieve defined objectives;
The role of corporate finance will become active or passive. That depends
primarily on awareness and use of financial functions, later depending on business
environment, institutional mechanisms corporate finance and the need to thoroughly
understand the principles of all corporate finance activities.
The objective of financial management in enterprise
Financial management is the use of information to accurately reflect the financial
condition of a business to analyze its strengths and weaknesses ,set up the business
plan, plan to use financial resources and assets fixed and labor demand in the future
to increase shareholder dividend.
The financial management including the establishment of long-term and
short-term financial planning , and effective management of working capital to the
company. This is very important for all businesses because it affects the ways and
methods that managers attract investment capital to establish, maintain and expand
business.
Financial planning will allow the decision of raw materials that businesses
can purchase, products of companies can produce and capabilities of companies can
market, advertise to sell products to market. When you have a financial plan, you
can also specify a human resource that business needs.
The financial management is not effective . It can cause the greatest failure
of the company, not including small and medium companies or large corporate

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groups.

"

Financial planning including

in the short and long term planning. Short-term

financial planning is about planning profits and treasury of company while the
long-term planning is

strategic and often involves setting up targets to grow

revenue and profitability within 3 to 5 years.
"Chief Financial Officer" (CFO) is a position in the enterprise. The job of finance
director is

financial management such as research, analysis

of financial

relationships in business, building the financial planning and exploiting and using
effective capital and warning risks to enterprises through financial analysis and
making reliable forecasts in the future. The role of finance director is completely
different from accounting.
CFO's main job is to keep moneyof enterprise circulating in the most
effective way. So how the CFO to contribute to more business and in personal CFO
reach the highest position as the CEO, this is always a question standing in each of
today's chief financial officer.
In addition, the CFO must also master the scientific analysis and management
science. It is meant to have to access to courses such as assessment, quantitative,
statistics, ... From that knowledge, combined with the operation to make the end

result is a report on the financial situation ,

financial strategic planning and

managing the implementation of financial strategies.
Currently there are few Vietnam’s enterprises with the job title of chief
financial officer , and many enterprises face serious confusion between the CFO
position to chief accountant. Lack of finance director in the business have led to
serious consequences. Firstly,

the lack of a professional management staff to

regularly review the financial situation of enterprises. So there are not a few cases,
general manager, the board completely understand the financial situation of

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enterprises, to discover signs of bad debts rising the permitted level,unpaid debt ,
low business efficiency ... they could not respond.
Part 2: Test
According to my assigment I have right plan of each question as follows:
1. Based on the information in Table 1, the current ratio is:
A. 2,97.
2. Based on the information in Table 1, using 360 days / year average collection
period:
D. 125 days
3. Based on the information in Table 1, the debt (liabilities ratio) is:
D. 0,42
4. Based on the information in Table 1, net margins on sales by how much:

B. 2,94%.
Five. Based on the information in Table 1, the coefficient of inventory turnover is:
D. 3,47 times
6. Which of the following companies are not liable to suffer limited liability debt?
A) Private companies
7. Calculate the present value (PV) of $ 100.000 received after 5 years from today,
assuming the interest rate is 8% / year?
B) $ 68.058,32
8. Calculate the present value (PV) of $ 80.000 received after 10 years from today,
assuming an interest rate is 5% / year?
C) $ 49.113,06

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9. Calculate the present value (PV) of $ 50.000 received after 20 years from today,
assuming interest rate is 4% / year?
C) $ 22. 819,35
10. Calculate future value (FV) of $ 60.000 in five years, assuming interest rates is
5% / year?
D) $ 76.576,89
11. NPV method:
D. All the aboved ideas
12. NPV method assumes cash flows to be reinvested at:
D. Weighted Average cost of capital (WACC).
13. You are analyzing a proposed project and has the following information:
Year

Cash Flow

0

- $ 135.000

1

$ 28.600

2

$ 65.500

3

$ 71.900

Required payback period : 3 years
Required income ratio: 8,50%
Net present value (NPV) of the proposed project is?
A. $ 3.289,86
14.Calculate the future value (FV) of $ 10,000 for 8 years, assuming an interest rate
is 10% / year?

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D) $ 21.435,89
15. Calculate the future value (FV) of $ 20,000 in 4 years, assuming interest rates is
12% / year?
C) $ 31.470,39

16. If $ 15,000 is invested at interest rate of 10% / year, asking how many years the
investment will double?
A) 7,3 years
17. If money is invested at 8% interest / year, asking about how many years the
received interest will equal your original investment?
C) 9 years
18. Sara would like to have $ 500,000 in a savings account when she retired. Ask
how much money she must have in the account right now if the interest rate is fixed
at 8% / year, to make sure she will have $ 500,000 in 20 years?
A) $ 107.274
19. You are analyzing a proposed project and has the following information:
Year

Cash Flow

0

- $ 135.000

1

$ 28.600

2

$ 65.500

3

$ 71.900

Required Payback period: 3 years
Required income ratio: 8,50%

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The

payback

period

using

discounted

cash

flow

of

the

project?

D. 2,94 years
20. Which of the following factors are not considered owner’s equity in the balance
sheet of the company?

A. Cash
21. Calculate the yield to maturity (YTM) of a 5-year bonds, par value $ 5,000 with
interest rates 4.5% and pay cuopon periodic interest every 6 months if bonds are
priced at $ 4,876?
B) 5.07%
22. Calculate the yield to maturity (YTM) of a 10-year bonds, par value $ 1,000
with interest rates 5.2% and pay coupon periodic interest every 6 months if bonds
are priced at $ 884?
C) 6.82%
23. A bond with a term for 3 years, $ 2,000 par value, and witth interest rate 6.3%,
coupon periodic interest payment annually (1 year / one time). Ask How much yield
to maturity if the bond price is $ 1.801?
D) 10.32%
24. A bond with $ 1,000 par value, coupon rates of 5.4% / year and pay coupon
interest every 6 months with a term of 5 years and yields (YTM) of 7.5%. If rates
go

up and

up

7.8% YTM,

the

bond

price

will

be

affected

like?

B) decreased $ 11,59
25. A $ 5,000 face value bonds with coupon rates 6.4% / year and pay interest every
6 months coupon bonds with a term of 4 years and yields (YTM) is 6.2%. If rates go
down and down 0.8% YTM, the bond price will be affected like?
D) increased by $ 142,78

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26. As yields of bonds with a term of two years, par value $ 10,000 interest payment
coupon every 6 months and the current bond price is $ 9,543.45, bond yields (YTM)
of 6.8%?
A) 4,32%
27. In birthday Harry, his father gave up $ 1,000 investment into an account pledged
to pay interest of 4% / year. Harry will have to ask how much money he 18?
B) $ 2.026
28) Helen are saving to start her business. If she invested $ 10,000 in the account
now,Ask the minimum interest rate is how to ensure that she has $ 25.000 in her
account in 10 years?
C) 9,6%
29. Consider the following cash flow series:

0

1

2

3

4

|

|

|

|

|

?

$5000

$6000

$7000

Years

$8000 Cash flow

If the market interest rate is currently 8% / year, present value (PV) of cash flow
chain is approximately equal to:
B) $ 21.211
30. Consider the following cash flow series:
0

1

2

3

4

|

|

|

|

|

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Years

$1000

$2000

$3000

$4000

?

Cash flow

If the market interest rate is currently 8% / year, the future value (FV) of the cash
flow will be approximated by:
A) $ 11,699

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