#Stockholders-- the owners of a corporation, whose ownership, or equity, is evidenced by either common stock or preferred stock. Common stock-- the purest and most basic form of corporate ownership. Dividends-- periodic distributions of earnings to the stockholders of a firm. Board of Directors-- group elected by the firm's stockholders and typically responsible for developing strategic goals and plants, setting general policy, guiding corporate affairs, approving major expenditures, and hiring/firing, compensating, and monitoring key officers and executives. President or chief executive officer (CEO)-- corporate official responsible for managing the firm's day-to-day operations and tearing out policies established by the board of directors. Limited partnership (LP)-- a partnership in which one or more partners have limited liability as long as at least one partner (the General partner) has unlimited liability. The limited partners cannot take an active role in the firm's management; they are passive investors. S Corporation (S. Corp.)-- a tax reporting entity that (under subchapter S. of the Internal Revenue Code) allow certain corporations with 100 or fewer stockholders to choose to be taxed as partnerships. It's stockholders receive the organizational benefits of a corporation and the tax advantages of a partnership. But S corps lose certain tax advantages related to pension plans. Limited liability corporation (LLC)-- permitted in most states, the LLC gives its owners, like those of S corps, limited liability and taxation as a partnership. But unlike an S. Corp.,the LLC can end more than 80% of another corporation, and corporations, partnerships, or non-US residents can own LLC shares. LLC’s work well for corporate joint ventures or projects developed through a subsidiary. Limited liability partnership (LLP)-- a partnership permitted in many states; governing statutes vary by state. All LLP partners have limited liability. They are liable for their own ask of malpractice, but not for those of other partners. The LLP is taxed as a partnership. LLP's are frequently used by legal and accounting professionals. Career opportunities in managerial finance (examples). Financial analyst-- primarily prepares the firm's financial plans and budgets. Other duties include financial forecasting, performing financial comparisons, and working closely with accounting. Capital expenditures manager-- a value weights and recommends proposed asset investments. Maybe involved in the financial aspects of implementing approved investments. Project finance manager-- in large firms, arranges financing for proved asset investments. Coordinates consultants, investment bankers, and legal counsel. Cash managers-- maintains and controls the firm's daily cash balances. Frequently manages the firm's cash collection and disbursement activities and short-term investments; coordinates short-term borrowing and banking relationships.