Problem 1. A chief financial officer must evaluate finances for all departments, and create a budget that will include capital expenditures, investments, and future revenues.
Define the difference between forecasting and budgeting. What is the difference between an operating budget and a cash budget?
Problem 2. How do you explain the use of time value of money (TVM) in business? What considerations are made when calculating TVM? How may you use TVM to create your own, or someone else's, retirement plan?
500 words.