Financial Management for an Engineering Firm

by Catherine P. Adams, Jordan, Jones & Goulding Inc, Atlanta, GA, USA,



Document Type: Proceeding Paper

Part of: Managing Finances

Abstract:

The CEO usually delegates the responsibility for financial management to the Chief Financial Officer who, in turn, selects from an array of management techniques to control costs, revenues, assets and liabilities and thus achieve the firm's objectives. Since one of the most common goals of any organization is to increase net income, we discuss some of the more widely used methods of achieving that result. Simply put, net income can be increased by affecting changes in either of its two components - decreasing expenses (cash outflow) or increasing revenues (cash inflow).

Subject Headings: Financial management | Revenues | Benefit cost ratios | Outflow | Liability | Inflow | Asset management

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