Respond to the following in a minimum of 175 words. Remember to in-text cite and then reference materials where required. As a note, most of the initial response questions require demonstrated research.

Discuss the Following in a Single Initial Reply:

1) We have likely all heard the phrase that time is money, or money is time. While that is very true, time value of money has a different meaning from a financial perspective. In fact, time value of money has a number of components associated with it's meaning. For now, who can define this topic in broad terms? Specifically, what is the meaning of time value of money?

2) Last week, we identified the primary financial statements found in organizations. This week, we are going to explore ratio analysis as it applies to financial statements. Who can describe what ratio analysis is and why is it an important area of financial management? Is ratio analysis limited to financial statements?