Lýsing:
For courses in financial management. Mastering the fundamental concepts of financial operations Using tools, making connections, and studying for success, are the three learning skills that students will gain in Financial Management: Core Concepts. An ideal resource for non-finance students, this book discusses the key elements of financial operations. The book and support materials encourage students to build their skills and test their knowledge by forging connections between ideas and applying them to real-world situations.
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- Höfundur: Raymond Brooks
- Útgáfa:4
- Útgáfudagur: 2022-04-04
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- Format:Page Fidelity
- ISBN 13: 9781292437231
- Print ISBN: 9781292437323
- ISBN 10: 1292437235
Efnisyfirlit
- Title Page
- The Pearson Series in Finance
- Dedication
- Copyright
- About The Author
- Brief Contents
- Contents
- Preface
- Solving Teaching And Learning Challenges
- Mylab Finance
- Developing Employability Skills
- Table Of Contents Overview
- Instructor Teaching Resources
- Reviewers
- Acknowledgments
- Part 1: Fundamental Concepts and Basic Tools of Finance
- Chapter 1. Financial Management
- 1.1 The Cycle of Money
- 1.2 Overview of Finance Areas
- 1.3 Financial Markets
- 1.4 The Finance Manager and Financial Management
- 1.5 Objective of the Finance Manager
- Profit Maximization
- 1.6 Internal and External Players
- 1.7 The Legal Forms of Business
- Sole Proprietorship
- Partnership
- Corporations
- Hybrid Corporations
- Not-for-Profit Corporations
- 1.8 The Financial Management Setting: The Agency Model
- 1.9 Corporate Governance and Business Ethics
- Finance Follies The Financial Meltdown of 2008
- 1.10 Why Study Finance?
- Employability
- Putting Finance To Work Now Hiring
- Key Terms
- Questions
- Prepping for Exams
- Mini-Case Richardses’ Tree Farm Grows Up
- Chapter 2. Financial Statements
- 2.1 Financial Statements
- The Balance Sheet
- The Income Statement
- Statement of Retained Earnings
- 2.2 Cash Flow Identity and the Statement of Cash Flows
- The First Component: Cash Flow from Assets
- The Second Component: Cash Flow to Creditors
- The Third Component: Cash Flow to Owners
- Putting It All Together: The Cash Flow Identity
- The Statement of Cash Flows
- Free Cash Flow
- 2.3 Financial Performance Reporting
- Regulation Fair Disclosure
- Notes to the Financial Statements
- 2.4 Financial Statements on the Internet
- Putting Finance To Work Look Before You Leap
- Key Terms
- Questions
- Prepping for Exams
- Problems
- Advanced Problems for Spreadsheet Application
- Mini-Case Hudson Valley Realty
- 2.1 Financial Statements
- Chapter 3. The Time Value of Money (Part 1)
- 3.1 Future Value and Compounding Interest
- The Single-Period Scenario
- The Multiple-Period Scenario
- Methods of Solving Future Value Problems
- 3.2 Present Value and Discounting
- The Single-Period Scenario
- The Multiple-Period Scenario
- The Use of Time Lines
- 3.3 One Equation and Four Variables
- 3.4 Applications of the Time Value of Money Equation
- Putting Finance To Work Sports Agent
- 3.5 Doubling of Money: The Rule of 72
- Key Terms
- Questions
- Prepping for Exams
- Problems
- Advanced Problems for Spreadsheet Application
- Mini-Case Richardses’ Tree Farm, Inc.: The Continuing Saga
- 3.1 Future Value and Compounding Interest
- Chapter 4. The Time Value of Money (Part 2)
- 4.1 Future Value of Multiple Payment Streams
- 4.2 Future Value of an Annuity Stream
- Future Value of an Annuity: An Application
- 4.3 Present Value of an Annuity
- 4.4 Annuity Due and Perpetuity
- Putting Finance To Work Modeling the Future with Actuarial Science
- Perpetuity
- 4.5 Three Loan Payment Methods
- Interest and Principal at Maturity of Loan (Discount Loan)
- Interest as You Go, Principal at Maturity of Loan (Interest-Only Loan)
- Interest and Principal as You Go (Amortized Loan)
- 4.6 Amortization Schedules
- 4.7 Waiting Time and Interest Rates for Annuities
- 4.8 Solving a Lottery Problem
- 4.9 Ten Important Points about the TVM Equation
- Key Terms
- Questions
- Prepping for Exams
- Problems
- Advanced Problems for Spreadsheet Application
- Mini-Case Fitchminster Injection Molding, Inc.: Rose Climbs High
- Chapter 5. Interest Rates
- 5.1 How Financial Institutions Quote Interest Rates: Annual and Periodic Interest Rates
- 5.2 Effect of Compounding Periods on the Time Value of Money Equations
- 5.3 Consumer Loans and Amortization Schedules
- 5.4 Nominal and Real Interest Rates
- 5.5 Risk-Free Rate and Premiums
- Maturity Premiums
- 5.6 Yield Curves
- 5.7 A Brief History of Interest Rates and Inflation in the United States
- Key Terms
- Questions
- Prepping for Exams
- Problems
- Advanced Problems for Spreadsheet Application
- Mini-Case Sweetening the Deal: Povero Construction Company
- Chapter 1. Financial Management
- Chapter 6. Bonds and Bond Valuation
- 6.1 Application of the Time Value of Money Tool: Bond Pricing
- Key Components of a Bond
- Pricing a Bond in Steps
- 6.2 Semiannual Bonds and Zero-Coupon Bonds
- Pricing Bonds after Original Issue
- Zero-Coupon Bonds
- Amortization of a Zero-Coupon Bond
- 6.3 Yields and Coupon Rates
- The First Interest Rate: Yield to Maturity
- The “Other” Interest Rate: Coupon Rate
- Relationship of Yield to Maturity and Coupon Rate
- 6.4 Bond Ratings
- 6.5 Some Bond History and More Bond Features
- 6.6 U.S. Government Bonds
- Pricing a U.S. Government Note or Bond
- Putting Finance To Work Municipal Manager
- Pricing a Treasury Bill
- Key Terms
- Questions
- Prepping for Exams
- Problems
- Advanced Problems for Spreadsheet Application
- Mini-Case Bay Path Cranberry Products
- 6.1 Application of the Time Value of Money Tool: Bond Pricing
- Chapter 7. Stocks and Stock Valuation
- 7.1 Characteristics of Common Stock
- Ownership
- Claim on Assets and Cash Flow (Residual Claim)
- Vote (Voice in Management)
- No Maturity Date
- Dividends and Their Tax Effect
- Authorized, Issued, and Outstanding Shares
- Treasury Stock
- Preemptive Rights
- 7.2 Stock Markets
- Primary Markets
- Secondary Markets: How Stocks Trade
- Bull Markets and Bear Markets
- 7.3 Stock Valuation
- The Constant Dividend Model with an Infinite Horizon
- The Constant Dividend Model with a Finite Horizon
- The Constant Growth Dividend Model with an Infinite Horizon
- The Constant Growth Dividend Model with a Finite Horizon
- Nonconstant Growth Dividends
- Finance Follies Irrational Expectations: Bulbs and Bubbles
- 7.4 Dividend Model Shortcomings
- 7.5 Preferred Stock
- 7.6 Efficient Markets
- Operational Efficiency
- Informational Efficiency
- Key Terms
- Questions
- Prepping for Exams
- Problems
- Advanced Problems for Spreadsheet Application
- Mini-Case Lawrence’s Legacy: Part 1
- 7.1 Characteristics of Common Stock
- Chapter 8. Risk and Return
- 8.1 Returns
- Dollar Profits and Percentage Returns
- Converting Holding Period Returns to Annual Returns
- Extrapolating Holding Period Returns
- 8.2 Risk (Certainty and Uncertainty)
- Finance Follies “Dangerous to Your Wealth”: Is Investing Just Gambling?
- 8.3 Historical Returns
- 8.4 Standard Deviation as a Measure of Risk
- Normal Distributions
- 8.5 Returns in an Uncertain World (Expectations and Probabilities)
- Finance Follies “Scam of the Century”: Bernie Madoff and the $50 Billion Fraud
- Determining the Probabilities of All Potential Outcomes
- 8.6 The Risk-and-Return Trade-Off
- Investment Rules
- 8.7 Diversification: Minimizing Risk or Uncertainty
- When Diversification Works
- Adding More Stocks to the Portfolio: Systematic and Unsystematic Risk
- 8.8 Beta: The Measure of Risk in a Well-Diversified Portfolio
- 8.9 The Capital Asset Pricing Model and the Security Market Line
- The Capital Asset Pricing Model
- Application of the SML
- Key Terms
- Questions
- Prepping for Exams
- Problems
- Advanced Problems for Spreadsheet Application
- Mini-Case Lawrence’s Legacy: Part 2
- 8.1 Returns
- Chapter 9. Capital Budgeting Decision Models
- 9.1 Short-Term and Long-Term Decisions
- 9.2 Payback Period and Discounted Payback Period
- Payback Period
- Finance Follies IBM Exits the Consumer Software Market: Misreading Future Cash Flows
- Discounted Payback Period
- 9.3 Net Present Value
- Mutually Exclusive versus Independent Projects
- Unequal Lives of Projects
- Net Present Value Example: Equation and Calculator Function
- 9.4 Internal Rate of Return and Modified Internal Rate of Return
- Internal Rate of Return
- Putting Finance To Work Marketing and Sales: Your Product = Your Customer’s Capital Budgeting Deci
- Modified Internal Rate of Return
- 9.5 Profitability Index
- 9.6 Overview of Six Decision Models
- Capital Budgeting Using a Spreadsheet
- Key Terms
- Questions
- Prepping for Exams
- Problems
- Advanced Problems for Spreadsheet Application
- Mini-Case BioCom, Inc.: Part 1
- Chapter 10. Cash Flow Estimation
- 10.1 The Importance of Cash Flow
- 10.2 Estimating Cash Flow for Projects: Incremental Cash Flow
- Sunk Costs
- Opportunity Costs
- Erosion Costs
- Synergy Gains
- Working Capital
- Finance Follies Boston’s “Big Dig” Gets Dug Under
- 10.3 Capital Spending and Depreciation
- Straight-Line Depreciation
- Modified Accelerated Cost Recovery System
- 10.4 Cash Flow and the Disposal of Capital Equipment
- 10.5 Projected Cash Flow for a New Product
- Key Terms
- Questions
- Prepping for Exams
- Problems
- Advanced Problems for Spreadsheet Application
- Mini-Case BioCom, Inc.: Part 2, Evaluating a New Product Line
- Chapter 11. The Cost of Capital
- 11.1 The Cost of Capital: A Starting Point
- 11.2 Components of the Weighted Average Cost of Capital
- Debt Component
- Preferred Stock Component
- Equity Component
- Retained Earnings
- The Debt Component and Taxes
- 11.3 Weighting the Components: Book Value or Market Value?
- Book Value
- Adjusted Weighted Average Cost of Capital
- Market Value
- 11.4 Using the Weighted Average Cost of Capital in a Budgeting Decision
- The Weighted Average Cost of Capital for Individual Projects
- 11.5 Selecting Appropriate Betas for Projects
- 11.6 Constraints on Borrowing and Selecting Projects for the Portfolio
- Key Terms
- Questions
- Prepping for Exams
- Problems
- Advanced Problems for Spreadsheet Application
- Mini-Case BioCom, Inc.: Part 3, A Fresh Look at the WACC
- Chapter 12. Forecasting and Short-Term Financial Planning
- 12.1 Sources and Uses of Cash
- 12.2 Cash Budgeting and the Sales Forecast
- Cash Inflow from Sales
- Other Cash Receipts
- 12.3 Cash Outflow from Production
- 12.4 The Cash Forecast: Short-Term Deficits and Short-Term Surpluses
- Funding Cash Deficits
- Investing Cash Surpluses
- 12.5 Planning with Pro Forma Financial Statements
- Pro Forma Income Statement
- Pro Forma Balance Sheet
- Putting Finance To Work Information Technology
- Key Terms
- Questions
- Prepping for Exams
- Problems
- Advanced Problems for Spreadsheet Application
- Mini-Case Midwest Properties: Quarterly Forecasting
- Chapter 13. Working Capital Management
- 13.1 The Cash Conversion Cycle
- Average Production Cycle
- Average Collection Cycle
- Average Payment Cycle
- Putting It All Together: The Cash Conversion Cycle
- 13.2 Managing Accounts Receivable and Setting Credit Policy
- Collecting Accounts Receivable
- Credit: A Two-Sided Coin
- Qualifying for Credit
- Setting Payment Policy
- Collecting Overdue Debt
- 13.3 The Float
- Speeding Up the Collection Float (Shortening the Lag Time)
- Extending the Disbursement Float (Lengthening the Lag Time)
- 13.4 Inventory Management: Carrying Costs and Ordering Costs
- ABC Inventory Management
- Redundant Inventory Items
- Economic Order Quantity
- Just in Time
- 13.5 The Effect of Working Capital on Capital Budgeting
- Putting Finance To Work Operations Management
- Inventories and Daily Operations
- Key Terms
- Questions
- Prepping for Exams
- Problems
- Advanced Problems for Spreadsheet Application
- Mini-Case Cranston Dispensers, Inc.: Part 1
- 13.1 The Cash Conversion Cycle
- Chapter 14. Financial Ratios and Firm Performance
- 14.1 Financial Statements
- Benchmarking
- 14.2 Financial Ratios
- Short-Term Solvency: Liquidity Ratios
- Long-Term Solvency: Financial Leverage Ratios
- Asset Management Ratios
- Profitability Ratios
- Market Value Ratios
- DuPont Analysis
- 14.3 External Uses of Financial Statements and Industry Averages
- Cola Wars
- Industry Ratios
- Finance Follies Cooking the Books at Enron and WorldCom
- Key Terms
- Questions
- Prepping for Exams
- Problems
- Advanced Problems for Spreadsheet Application
- Mini-Case Cranston Dispensers, Inc.: Part 2
- 14.1 Financial Statements
- Chapter 15. Raising Capital
- 15.1 The Business Life Cycle
- 15.2 Borrowing for a Start-Up and a Growing Business
- Personal Funds and Family Loans
- Commercial Bank Loans
- Commercial Bank Loans through the Small Business Administration
- Angel Financing and Venture Capital
- 15.3 Borrowing for a Stable and Mature Business: Taking Out Bank Loans
- Straight Loans
- Discount Loans
- Letters of Credit or Lines of Credit
- Compensating Balance Loans
- 15.4 Borrowing for a Stable and Mature Business: Selling Bonds
- 15.5 Borrowing for a Stable and Mature Business: Selling Stock
- Initial Public Offerings and Underwriting
- Registration, Prospectus, and Tombstone
- The Marketing Process: Road Show
- The Auction
- The Aftermarket: Dealer in the Shares
- Putting Finance To Work Corporate Law
- 15.6 Other Borrowing Options for a Mature Business
- 15.7 The Final Phase: Closing the Business
- Straight Liquidation: Chapter 7
- Reorganization: Chapter 11
- Key Terms
- Questions
- Prepping for Exams
- Problems
- Advanced Problems for Spreadsheet Application
- Mini-Case AK Web Developers.com
- Chapter 16. Capital Structure
- 16.1 Capital Markets: A Quick Review
- 16.2 Benefits of Debt
- Earnings per Share as a Measure of the Benefits of Borrowing
- 16.3 Break-Even Earnings for Different Capital Structures
- 16.4 Pecking Order
- Firms Prefer Internal Financing First
- Firms Choose to Issue the Cheapest Security First and Use Equity as a Last Resort
- 16.5 Modigliani and Miller on Optimal Capital Structure
- Capital Structure in a World of No Taxes and No Bankruptcy
- Capital Structure in a World of Corporate Taxes and No Bankruptcy
- Debt and the Tax Shield
- 16.6 The Static Theory of Capital Structure
- Bankruptcy
- Optimal Capital Structure
- Finance Follies Hedge Funds: Some Really Smart Guys Get into Big Trouble
- Key Terms
- Questions
- Prepping for Exams
- Problems
- Advanced Problems for Spreadsheet Application
- Mini-Case General Energy Storage Systems: How Much Debt and How Much Equity?
- Chapter 17. Dividends, Dividend Policy, and Stock Splits
- 17.1 Cash Dividends
- Buying and Selling Stock
- Declaring and Paying a Cash Dividend: A Chronology
- Different Types of Dividends
- 17.2 Dividend Policy
- Dividend Clienteles
- Dividend Policy Irrelevance
- Reasons Favoring a Low- or No-Dividend-Payout Policy
- Reasons Favoring a High-Dividend-Payout Policy
- Optimal Dividend Policy
- 17.3 Selecting a Dividend Policy
- Some Further Considerations in the Selection of a Dividend Policy
- 17.4 Stock Dividends, Stock Splits, and Reverse Splits
- Reasons for Stock Splits
- Reverse Splits
- 17.5 Specialized Dividend Plans
- Stock Repurchase
- Dividend Reinvestment Plans
- Key Terms
- Questions
- Prepping for Exams
- Problems
- Advanced Problems for Spreadsheet Application
- Mini-Case East Coast Warehouse Club
- 17.1 Cash Dividends
- Chapter 18. International Financial Management
- 18.1 Managing Multinational Operations
- Cultural Risk
- Business Risk
- Political Risk
- Finance Follies Rino International
- 18.2 Foreign Exchange
- Purchasing Power Parity
- Currency Exchange Rates
- Cross Rates
- Arbitrage Opportunities
- Forward Rates
- Using Forward Rates
- Changing Spot Rates
- 18.3 Transaction, Operating, and Translation Exposures
- Transaction Exposure
- Operating Exposure
- Translation Exposure
- 18.4 Foreign Investment Decisions
- Key Terms
- Questions
- Prepping for Exams
- Problems
- Advanced Problems for Spreadsheet Application
- Mini-Case Scholastic Travel Services, Inc.
- 18.1 Managing Multinational Operations
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- Gerð : 208
- Höfundur : 8389
- Útgáfuár : 2022
- Leyfi : 380