‫منشورات جامعة السودان المفتوحة ‪2005‬‬

II
‫أ‬
‫‪ ،،،‬واهلل ولى التوفيق ‪،،،‬‬

‫ب‬
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‫ج‬
‫د‬
2
 Financial Management

Financial
Department

3
4
Public Finance

5
6
 Planning state

7
8
9
 Macroeconomics
Microeconomics

10
11
 .

12
13
14
Profit Maximization

Opportunity

15
16
Maximizing the value of the firm

17
18
Information content

19
20
21
 Technical insolvency

Real
insolvency

22
23
Planning of Capital Expenditure (Insolvency)

24
25
 Profit Maximization

The Liquidity

Opportunity Cost

Earning Power

26
27
28
30
31
32
33
 .1

Financial Markets
Money Market
Capital Market

34
 Common Stocks

35
Par value

Book value

Market value

Liquidation value

36
Preferred Stocks

37
 Cumulation preferred

Noncumulative Preferred

Participating Preferred

Call Premium

38
Sinking fund

39
Retained earnings

40
 Loans

41
Commercial credit

42
 Bank credit

Overdraft

43
 Bonds

44
 Bearer Bond or Coupon Bond 

Registered Bond 

Convertible Bond 

Mortgage or Secured Bond 

Debenture Bond 

Zero Coupon Bond 

Floating Rate Bond 

Income Bond 

45
Junk Bonds

Government Bonds

Issuing and Redemption of Bonds

Sinking Fund

46
 Lease

Operating Lease Financial Lease

Capital Lease

Service Lease

47
48
49
50
 Shares

Nominal Shares

Bearer Shares

An order Shares

Common Shares

51
 Differed Shares

Preferred Shares

Bonds

Government Bonds

Corporate Bonds

Nominal Bonds

52
 Commercial Credit

Bank Credit

Overdraft

Financial Papers

Stock Exchange Market

53
 Issuing of Bonds

Redemption of Bonds

54
3. Brockington, R.B1987. Financial Management, D.P Publications
Ltd, East Leigh Hants.

55
56
58
59
60
Time Value of Money

61
 Discount Rate
Present Value

Discount Rate

62
           

 
 
  
 

(1)

63
64
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  

     
    
  
 
  
   
  
    
        

(1)

(2)

(3)

67
           
  
     
  
 
   

(2)

(3)

68
 (2)

(3)

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70
       

(1)

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 Interest Rate

Discount Rate

76
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80
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Management of Fixed Assets

83
 .2
Management of Working Capital

Operating Cycle

84
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 Conservative

Aggressive

Moderate Approach

Management of Cash

87
 Precautionary

Speculative

88
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90
Management of Accounts Receivable

91
92
Aging of
Accounts Receivable

Management of inventory

93
 Economic order quantity

C
C Q ( Q

94
Q S
O
O S
Q

S O C Q
Q

Baumul

Q
O S
C

O S
C

95
96
‫‪600‬‬

‫‪500‬‬
‫التكاليف‬
‫‪400‬‬ ‫للحجم‬
‫‪000‬‬ ‫األمثل‬
‫‪0‬‬ ‫للشراء‬
‫‪300‬‬

‫‪200‬‬

‫‪100‬‬

‫‪0‬‬

‫الحجم األمثل للشراء‬

‫‪97‬‬
98
99
Safety
Stock

100
 

101
 ‫الكميات‬
‫بالوحدات‬

‫‪800‬‬

‫‪7000‬‬

‫‪600‬‬

‫‪500‬‬

‫‪400‬‬

‫‪300‬‬

‫‪200‬‬

‫‪100‬‬

‫‪102‬‬
103
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105
 O S
C

O S
C

0.20

106
107
 Inventory

Economic order quantity

108
5. Brigham, E. and Gapenshi, Louis, 1991, Financial Management,
theory and practice, the Dryden press.
6. Fabozzi, F, 1992, Capital Market: Institutions and instruments,
prentice Hall International Inc.

109
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111
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Planning by scope

Multiple or Repeat use plans

114
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Proforma Statement

117
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Cash flow Cash budget

120
 2.5

121
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128
0

129
130
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132
133
134
 Planning

Strategic Planning

Financial Planning

Cash flow

135
4. Foster George, 1986, Financial Statement Analysis, Prentice-Hall
International.
5. Helfert, Erich A. 1966, Techniques, Of Financial Analysis.
6. Hall, J.C. et plas,1973, J,P Les choix dinvestissement dans, L
entreprise parism presss unversitaires de France.

136
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139
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141
 ×

Return on Investment (R O I)

Return on Capital Equity

142
143
 Operating Leverage 2.2

Degree of operationg Leverage (DOL)

(dol)

144
‫تخفيض المبيعات‬ ‫زيادة المبيعات‬
‫‪%20‬‬ ‫‪%20‬‬

‫‪145‬‬
146
147
 Financial Leverage

Trading on Equity

148
 


149
150
151
 Financial risks
Business Risk

Combined Leverage

152
153
154
Business Financial Risks
Risks

155
156
 َ‫ع‬
1
‫ع‬

Earning Per share

(EPS )

EPS

157
158
 َ‫ع‬
1
‫ع‬

EPS
EPS

EPS

159
 EPS

EPS

EPS EPS

EPS

EPS

EPS EPS

Financial Break Even Point

160
 ‫أرباح‬
‫السهم‬
‫بالدينار‬ ‫ميزة‬
‫التمويل‬
‫بالدين‬

‫نقطة التعادل التمويلي‬

‫خط التمويل بالملكية‬

‫ميزة‬

‫التمويل‬ ‫مبيعات التعادل التمويلي‬

‫المبيعات ‪ /‬بالدينار‬
‫بالملكية‬

‫‪161‬‬
162
163
164
165
 Leverage

Operating Leverage

Financial Leverage

Combined Leverage

Financial Risks

166
 Business Risks

167
4. Heri, G.W., 1988, Investir a L echelon international, Le mais
societe de banque Suisse geneve Jan. Few
5. Henri Fayal, 1949. General industrial Management sir issacand sons-
London
11/ Koontz, H, and Odonnell, 1964, C., principles of Management and
analysis of Managerial Function Mc Grow Hill Book Co. New York

168
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171
172
173
175
176
177
179
189
192
195
195
196
200
202

170
171
172
173
174
Primary targets

Derived targets

175
176
177
Lease

178
179
180
181
182
183
184
185
 ½

186
187
188
‫مجموع سنوات العمر اإلنتاجي‬

‫‪188‬‬
189
190
191
192
193
Collection Policies

194
195
Hand to mouth buying 
Forward Buying 

Speculative Buying 

Make or Buy 

Just in time 

196
197
 







198
 




199
 Policy

Procedures

Depreciation

Primary Targets

200
Derived Targets

Financial Policies

201
4. Lavanud, R, 1974,communt mener Une analyse Financiere Parise
Dunod.
5. Johson Rebert, W. and Milicher, Ronald, W, 1982, Financial
Management Inc. Boston.

202
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206
207
208
209
210
 


211
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215
216
217
218
x

219
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226
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228
 

229
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241
242
243
244
245
246
247
248
 Financial Analysis

Financial Analysis Standards

Financial Ratios

Profitability Rates

249
250
3. Mayer, R. Mcgin Gam, James, and Kretlow, William, the
Contemporary Financial Management, West
4. Petty Keown, Scott and Maritn, 1993, Basic Financial Management,
Prentice Hall Englewood Cliffs
5. Sehall, Lawernence D, and Haley chatles W. 1986, Introduction to
Financial Management Me Cro Hill Book Co. New Yor
6. Tracy John, A, 1988, How to Read Financial Report, John Wiley
and sons.
7. Weslon, J. Fired and Brighman, Eugene F. 1982, Managerial Finance
the Dryden Press Hinsdale Illinois
8. Van Horn James C, 1989, Financial Management and Policy,
prentice. Hall Inc Englewood chifs New Jersey

251
252