Fundamentals of Financial Management

Intended for an introductory course with a focus on recent theoretical and practical changes in financial management, this undergraduate text motivates students toward self-discovery and application. Updated institutional material, international in scope, effects of electronic commerce, outsourcing, the role of strategic alliances. New boxes, tips, Q&As, and special features. FinCoach is packaged free. Supported by an award winning website: >.

PART I: INTRODUCTION TO FINANCIAL MANAGEMENT

The Role of Financial Management

1

(12)

The Business, Tax, and Financial Environments

13

(24)

PART II: VALUATION

The Time Value of Money

37

(32)

The Valuation of Long-Term Securities

69

(24)

Risk and Return

93

(32)

PART III: TOOLS OF FINANCIAL ANALYSIS AND PLANNING

Financial Statement Analysis

125

(44)

Funds Analysis, Cash-Flow Analysis, and Financial Planning

169

(40)

PART IV: WORKING CAPITAL MANAGEMENT

Overview of Working Capital Management

209

(16)

Cash and Marketable Securities Management

225

(28)

Accounts Receivable and Inventory Management

253

(34)

Short-Term Financing

287

(28)

PART V: INVESTMENT IN CAPITAL ASSETS

Capital Budgeting and Estimating Cash Flows

315

(18)

Capital Budgeting Techniques

333

(28)

Risk and Managerial Options in Capital Budgeting

361

(32)

PART VI: THE COST OF CAPITAL, CAPITAL STRUCTURE, AND DIVIDEND POLICY

Required Returns and the Cost of Capital

393

(40)

Operating and Financial Leverage

433

(34)

Capital Structure Determination

467

(24)

Dividend Policy

491

(32)

PART VII: INTERMEDIATE AND LONG-TERM FINANCING

The Capital Market

523

(22)

Long-Term Debt, Preferred Stock, and Common Stock

545

(26)

Term Loans and Leases

571

(26)

PART VIII: SPECIAL AREAS OF FINANCIAL MANAGEMENT

Convertibles, Exchangeables, and Warrants

597

(26)

Mergers and Other Forms of Corporate Restructuring

623

(44)

International Financial Management

667

(34)

Appendix

701

(10)

Glossary

711

(14)

Commonly Used Symbols

725

(2)

Index

727

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Fundamentals of Financial Management

Summary

Table of Contents

Supplemental Materials