Chapter 15 pengantar bisnis

8/18/2019 Chapter 15 pengantar bisnis

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McGraw-Hill/Irwin Copyright © 2011 by The McGraw-Hill Companies, Inc !ll rights reser"e#


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part

CHAPTER 15 Money and the Financial System

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CHAPTER 14 Accounting and Financial Statements

Financing theFinancing the

EnterpriseEnterprise

CHAPTER 16 Financial anagement and Securities ar!ets


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FinanceFinance

T"e stud# o$ mone#%"o& it's made( "o& it's lostand "o& it's managed

Money

An#t"ing generall# accepted in e)c"ange $or goodsand ser*ices

an# materials "a*e +een used as mone#

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Functions o$ one#Functions o$ one#

Medium of echange

Accepted as pa#ment $or products and resources

Bartering. Trading one good or ser*ice $or anot"ero$ similar *alue

/ne0cient +ecause not al&a#s di*isi+le and can +ecomplicated in multiple-part# transactions

Measure of !alue

Single standard $or assigning and comparing *alues o$products and resources

Store of !alue

eans o$ retaining and accumulating &ealt"

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C"aracteristics o$ one#C"aracteristics o$ one#

Accepta+ilit#

i*isi+ilit#

Porta+ilit#

Sta+ilit#

ura+ilit#

i0cult# to counter$eit

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T#pes o$ one# T#pes o$ one#

Paper Money and Coins

Chec"ing Account #$emand $eposit%& one#stored

in an account at a +an! t"at can +e &it"dra&n&it"out ad*ance notice

C"ec!s ser*e as a more secure su+stitute $or cas"

Sa!ings Account #Time $eposit%. Accounts &it"

$unds t"at usuall# cannot +e &it"dra&n &it"outad*ance notice

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continued on ne)t page


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Credit Cards

eans o$ access to preappro*ed lines o$ creditgranted +# a +an! or a nance compan#

Credit card companies "a*e +een t"e su+ect o$criticism and scrutin#

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$e(it Card

A card t"at loo!s li!e a credit card +ut &or!s li!ea c"ec!

A direct electronic pa#ment $rom t"e card"older'sc"ec!ing account

Tra!eler)s Chec"s* Money +rders* Cashier)sChec"s

7t"er common $orms o$ 8near9 mone#:uaranteed as cas"

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T"e Fed T"e Fed

Four ma-or functions.

1=Controls t"e mone# suppl# &it" monetar# polic#

2=Regulates nancial institutions

,=anages regional and national c"ec!-clearingprocedures

4=Super*ises t"e $ederal deposit insurance o$

commercial +an!s in t"e Federal Reser*e s#stem

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onetar# Policiesonetar# Policies

Monetary Policy

T"e means +# &"ic" t"e Fed controls t"e amount o$mone# a*aila+le in t"e econom#

Aims to !eep suppl# and demand in +alance to a*oidin?ation@de?ation

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Four ain onetar# Polic# ToolsFour ain onetar# Polic# Tools

1. +pen Mar"et +perations. ecisions to +u#or sell


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7t"er Regulator# Functions7t"er Regulator# Functions

o$ t"e Fedo$ t"e Fed

Regulating mem(er (an"s

Esta+lis"es and en$orces +an!ing rules t"ataBect monetar# polic# and competition

Has aut"orit# to appro*e +an! mergers

Chec" clearing

Dational c"ec! processing t"roug" c"ec!clearing"ouses

$epository insuranceSuper*ises t"e $ederal insurance $unds t"at protectt"e deposits in mem+er +an!ing institutions

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an!ing /nstitutionsan!ing /nstitutions

Commercial ,an"s

argest and oldest o$ all nancial institutions(rel#ing mainl# on c"ec!ing and sa*ings accounts

oan to +usinesses and indi*iduals

Sa!ings and 3oan Associations SsG also called8t"ri$ts9

Primaril# oBer sa*ings accounts and ma!e long-termloans $or residential mortgages

ost "a*e merged &it" commercial +an!s

New hybrid bank institutions perform multiple functions

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an!ing /nstitutionsan!ing /nstitutions

Credit 4nions

Financial institutions o&ned and controlled +#depositors


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Don-an!ing /nstitutionsDon-an!ing /nstitutions

$i!ersi'ed Firms& Traditionall# non-nancial rmst"at "a*e e)panded into t"e nancial eld

nsurance Companies. usinesses t"at protectt"eir clients against losses $rom specied ris!s

Pension Funds. anaged in*estment pools topro*ide retirement income $or mem+ers

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Don-an!ing /nstitutionsDon-an!ing /nstitutions

Mutual Fund. /n*estment compan# t"at poolsin*estor mone# and in*ests in large num+ers

o$ di*ersied securities

,ro"erage Firm. u# and sell securities $or clients

and pro*ide ot"er ser*ices n!estment ,an" .


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Electronic an!ingElectronic an!ing

ETF. Electronic $unds trans$er

ATM. Automated teller mac"ines

ACHs. Automated clearing"ouses

+nline ,an"ing. an! at "ome oran#&"ere@an#time

( Increasing the range of services)

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Future o$ an!ingFuture o$ an!ing

Ad*ances in tec"nolog# are c"allenging andc"anging t"e +an!ing industr#

Trend to&ard larger +an!s( e*en in t"e &a!e o$

2>>-2>1> nancial crisis

Chapter 15 pengantar bisnis

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