Origin and Development of Financial Management - Nature of Financial Management Brigham 13th Edition PDF
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The study of finance is of a fairly recent origin in Nigeria and some other countries in the whole world. Since its inception in 1900 till date, the study of finance has undergone significant changes. The early study focused on legalistic matters such as mergers, acquisitions, consolidations and formation of new firms.
As a result of the over-bearing influence of industrialization, the critical problems that faced forms was how to obtain funds for the expansion of their operations. The capital market (market where long term funds are bought and sold) was relatively undeveloped. Also, it was difficult to transfer funds from individual savers (surplus units) to businesses requiring these funds (deficit units).
After series of business failures in the 1920's which resulted from severe depression of the same period, there was a shift of emphasis to bankruptcy and re-organization, corporate liquidity, government regulation of securities among others. The effect of this is that there was shift of emphasis from expansion to survival.
During the 1940's and 1950's, control measures such as budgeting was introduced. After the 1950's, emphasis was shifted from the liability side to the asset side of the balance sheet.
The periods ranging from the 1960's to the 1970's witnessed a lot of developments in the field of finance. A good instance was the accelerated progress in transportation and communication which brought many countries of the world together thus, elevating the importance of international finance. Also, the rising rate of inflation has made it mandatory for the financial manager to to devote more time to coping with high wages, prices and interest rates.
There is an increasing awareness of such social ills as air and water pollution, high rate of unemployment, urban congestion, globalization of the financial sub-sector all of which compete for the financial managers' attention.
(Egungwu, 2004:3)
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The study of finance is of a fairly recent origin in Nigeria and some other countries in the whole world. Since its inception in 1900 till date, the study of finance has undergone significant changes. The early study focused on legalistic matters such as mergers, acquisitions, consolidations and formation of new firms.
As a result of the over-bearing influence of industrialization, the critical problems that faced forms was how to obtain funds for the expansion of their operations. The capital market (market where long term funds are bought and sold) was relatively undeveloped. Also, it was difficult to transfer funds from individual savers (surplus units) to businesses requiring these funds (deficit units).
After series of business failures in the 1920's which resulted from severe depression of the same period, there was a shift of emphasis to bankruptcy and re-organization, corporate liquidity, government regulation of securities among others. The effect of this is that there was shift of emphasis from expansion to survival.
[Post Image Courtesy of SDMania at FreeDigitalPhotos.net]
During the 1940's and 1950's, control measures such as budgeting was introduced. After the 1950's, emphasis was shifted from the liability side to the asset side of the balance sheet.
The periods ranging from the 1960's to the 1970's witnessed a lot of developments in the field of finance. A good instance was the accelerated progress in transportation and communication which brought many countries of the world together thus, elevating the importance of international finance. Also, the rising rate of inflation has made it mandatory for the financial manager to to devote more time to coping with high wages, prices and interest rates.
There is an increasing awareness of such social ills as air and water pollution, high rate of unemployment, urban congestion, globalization of the financial sub-sector all of which compete for the financial managers' attention.
(Egungwu, 2004:3)
TAGS: eugene f brigham financial management solutions, financial management systems, financial management association, what is financial management all about, what is financial management pdf, what is financial management ppt, financial management services, financial management definition, financial management software, financial management salary, financial management certification, financial management regulation, financial management theory and practice, financial management vs managerial accounting, financial management vs corporate finance, an overview financial management, what is financial management and its functions, financial management course, financial management analyst, financial management jobs, financial management journal pdf, indiana university financial management services, anna university financial management question papers, financial management key performance indicators, financial management uk, stanford university financial management services, bangalore university financial management question paper, nature of financial management, functions of financial management, p w financial management limited, financial management of healthcare organizations pdf, objectives of financial management, financial risk management, financial management software for mac, financial management vs finance, financial management vs financial planning, adamson university financial management curriculum, financial management vs financial accounting
Origin and Development of Financial Management - Nature of Financial Management Brigham 13th Edition PDF
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