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Zoom in quite well this is financial management book is by Eugene Brigham and Houston Brigham's book is actually legendary in finance and financial management the real book the real book is called financial management theory and practice that was the book which I studied 20 years ago when I was in college when I was your age when I was second and third year student and the book was 1,000 that's where we studied real finds now this is known as the baby bridge which is your know not the real one this is tiny little one it's the short quick easy version of it and that's what we're going to be doing it's going to be a quick overview quick survey maybe for a few feet weeks three four five six weeks we're going to begin with chapter 1 2 5, and then we see how we go from there, and we move on chapter 1 1 1, so we don't chapter 1, and now we have section 1 finance what is finance again difficult tricky but the short quick easy answer is money management the science the subject managing money that's what finance is all about finance is about money how to get it to spend it how to manage that's it that's finance now one a page for what's difference between finance and economics and accounting is about recording transactions in terms of money in accounting you just recorded you say what happens in economics you are focused on resources on real resources on tables in books and markers and cameras in economics you're focused on real assets on production you're focused also on households you're focused also on the government you're focused on businesses and finance is in between you want to deal with the real and the production side of things, but they also want to deal with the money side of things, so money is short finance is a very, very recent field developed and separated only in the last 20 or 30 years which has separated recently actually from economists and has separated recently from financial economic, so modern finance is an outgrowth separated from financial economics so what do we have in an organization get an organization you have C F oh let me see which was this one this is 1 1 B 1 1 0 is simply chief financial officer now we're talking about businesses we're talking about corporation and usually number 2 or number 3 in the corporation is that chief financial officer he is responsible for financial decisions, so now we need to say what is financial decision yeah I got a brand-new red color so right find in show decision in financial decision is the decision about money to buy or not to buy a house is a financial decision to buy this little Sony camera with which we record is a financial decision okay and financial decision is decision whether to spend money or not to spend money how to get it and how to invest it and so on basically financial decisions require the most elementary economic decision of benefit versus cost in a financial decision you want to make sure that the benefits will be bigger higher or more than the cost and that's what...
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