MANAGIN THE FINANCE FUNCTIONS

• Deals with the "procurement and administration of funds withthe view of achieving the objectives of thebusiness."

  Finance Function
• The day-to-day operations of the engineering firm will require funds to take care of expenses as they come

  Financing Daily Operations
• The maintenance of adequate inventory is crucial to many firms. Raw materials, supplies, and parts needed to be kept in storage so they will be available when needed

  Financing the Purchase of Inventory
• It is oftentimes unavoidable for firms to extend credit to customers. If the engineering firm manufactures products, sales terms vary from cash to 90-day extensions to customers

  Financing the Firm's Credit Services
• Companies, at times, need to purchase major when top management decides on expansion, there be a need to make investments in capital assets like land plant and equipment

  Financing the Purchase of the Major Asset