Prior to the 1930s the field of financial management basically (to confine) to descriptive discussions of the various financial markets and the securities traded in those markets and fund raising.
With years this field of finance (to undergo) a number of significant changes and (to become) involved with legal matters of bankruptcy, reorganization, and government regulation.
During the 1950s, for example, financial management (to expand) to include uses of a firm's funds; application of discounted cash flow techniques was perfected; significant breakthroughs in developing techniques for measuring the cost of capital and valuing financial assets (to make); capital budgeting (to make) progress. Later, financial researchers (to focus) on the allocation of current assets, i.e. cash accounts receivable and inventories, and fixed assets.
During the 1960s mathematical models using statistical and optimization techniques (to apply) in financial management. The financial management field witnessed an exciting period of change and growth during the 1970s when there (to be) an increasing emphasis on applying computer technology to assist in financial decision making.
The 1980s (to witness) an explosion of new financial instruments, such as options and futures contracts, that can be used to manage risk. Techniques (to change) but the objective of financial management (to remain) – to maximize the shareholder's wealth.
So the financial manager's job is to arrange for the firm to get the funds needed on favourable terms and to make sure they are used effectively.
The job must be done not only in businesses, but also in not-for-profit firms and units of government.
In a world that is increasingly affected by international trade and cooperation, financial management (to acquire) very important new dimensions.
Words you may need:
discounted cash flow будущие поступления наличными, приведенные в оценке настоящего времени
optimization techniqueметод оптимизации