DiscussionsTo participate in the following discussions, go to this week’s Discussion link in the left navigation.The Role of Financial Management in a FirmSummarize the role of management as it relates to finance in a corporation. In your post, address the following:Indicate the various aspects of finance that management must understand.Describe why a manager needs to understand the characteristics and importance of financial markets including risk and efficiency.Describe why cash flow is more important than sales in a business.Discuss what could happen if management does not fulfill responsibilities related to finance. If you have one, share a real world example from your own professional experience or from an external source.Your post should be 200-250 words in length.Guided Response: Review several of your classmatesâ posts. Respond to at least two classmatesâ by commenting on their example of management not fulfilling its responsibilities. Pose a question to spark discussion regarding what could have been handled differently.Financial Statements View the following video: http://searchcenter.intelecomonline.net/playClipDirect.aspx?id=4870EEC7664070BB9D6744FDA7325EE4B73C695245AB5359E714CC89CDBB4388CEBED83D70C2689D943F65ECBE2F51E1Important Financial Documents (3:19)Description: This video looks at the fundamental financial documents every company needs, including the balance sheet, income statement and statement of cash flow.ResourcesRequired TextRead the following chapters from Essentials of Finance:Chapter 1: Introduction to Financial ManagementChapter 2: Accounting ReviewIn your post, choose one of the financial statements and explain how a manager would use the statement to drive financial analysis and decision-making. Your post should be 200-250 words in length.