After studying this chapter, students should be able to:

1. Explain the need for financing and financial management in business.
   
   
2. Summarize the process of planning for financial management.
   
   
3. Describe the advantages and disadvantages of different methods of short-term debt financing.
   
   
4. Evaluate the advantages and disadvantages of equity financing.
   
   
5. Evaluate the advantages and disadvantages of long-term debt financing.