Atnaujinkite slapukų nuostatas

Analysis for Financial Management 13th ed. [Minkštas viršelis]

4.50/5 (4 ratings by Goodreads)
, Other , Other
  • Formatas: Paperback / softback, 464 pages, aukštis x plotis x storis: 231x185x20 mm, weight: 599 g
  • Išleidimo metai: 21-Jan-2022
  • Leidėjas: McGraw-Hill Education
  • ISBN-10: 1260772365
  • ISBN-13: 9781260772364
Kitos knygos pagal šią temą:
Analysis for Financial Management 13th ed.Didesnis paveikslėlis
  • Formatas: Paperback / softback, 464 pages, aukštis x plotis x storis: 231x185x20 mm, weight: 599 g
  • Išleidimo metai: 21-Jan-2022
  • Leidėjas: McGraw-Hill Education
  • ISBN-10: 1260772365
  • ISBN-13: 9781260772364
Kitos knygos pagal šią temą:
Pastovi nuoroda: https://www.kriso.lt/db/9781260772364.html
Raktažodžiai:
Like its predecessors, the thirteenth edition of Analysis for Financial Management is for nonfinancial executives and business students interested in the practice of financial management. It introduces standard techniques and recent advances in a practical, intuitive way. This product assumes no prior background beyond a rudimentary and perhaps rusty familiarity with financial statements—although a healthy curiosity about what makes business tick is also useful. The emphasis throughout is on the managerial implications of financial analysis.

Analysis for Financial Management should prove valuable to individuals interested in sharpening their managerial skills and to executive program participants. This product has also found a home in university classrooms as the sole text in Executive MBA and applied finance courses, as a companion text in case-oriented courses, and as a supplementary reading in more theoretical courses.
Preface xii
PART ONE ASSESSING THE FINANCIAL HEALTH OF THE FIRM
1(76)
Chapter 1 Interpreting Financial Statements
3(34)
The Cash Flow Cycle
3(3)
Overview of Financial Statements
6(3)
The Balance Sheet
9(2)
Current Assets and Liabilities
10(1)
Shareholders' Equity
11(1)
The Income Statement
11(5)
Measuring Earnings
12(4)
Sources and Uses Statements
16(2)
The Two-Finger Approach
17(1)
The Cash Flow Statement
18(4)
Financial Statements and the Value Problem
22(8)
Market Value vs. Book Value
22(4)
Economic Income vs. Accounting Income
26(1)
Imputed Costs
27(3)
Summary
30(1)
Additional Resources
31(1)
Problems
32(5)
Chapter 2 Evaluating Financial Performance
37(40)
The Levers of Financial Performance
37(1)
Return on Equity
38(15)
The Three Determinants of ROE
38(2)
The Profit Margin
40(2)
Asset Turnover
42(6)
Financial Leverage
48(5)
Is ROE a Reliable Financial Yardstick?
53(7)
The Timing Problem
54(1)
The Risk Problem
54(2)
The Value Problem
56(2)
ROE or Market Price?
58(2)
Ratio Analysis
60(9)
Using Ratios Effectively
61(1)
Ratio Analysis of Polaris Inc.
62(7)
Summary
69(1)
Additional Resources
70(1)
Problems
71(6)
PART TWO PLANNING FUTURE FINANCIAL PERFORMANCE
77(62)
Chapter 3 Financial Forecasting
79(32)
Pro Forma Statements
79(8)
Percent-of-Sales Forecasting
80(6)
Interest Expense
86(1)
Seasonality
86(1)
Pro Forma Statements and Financial Planning
87(2)
Forecasting with Spreadsheets
89(3)
Coping with Uncertainty
92(3)
Sensitivity Analysis
92(1)
Scenario Analysis
93(1)
Simulation
93(2)
Cash Flow Forecasts
95(1)
Cash Budgets
96(4)
The Techniques Compared
100(1)
Summary
101(1)
Additional Resources
102(1)
Problems
103(8)
Chapter 4 Managing Growth
111(28)
Sustainable Growth
112(2)
The Sustainable Growth Equation
112(2)
Too Much Growth
114(4)
Balanced Growth
115(1)
DLH Holdings' Sustainable Growth Rate
116(2)
"What If" Questions
118(1)
What to Do When Actual Growth Exceeds Sustainable Growth
118(5)
Sell New Equity
119(2)
Increase Leverage
121(1)
Reduce the Payout Ratio
121(1)
Profitable Pruning
122(1)
Outsourcing
122(1)
Pricing
123(1)
Is Merger the Answer?
123(1)
Too Little Growth
123(1)
What to Do When Sustainable Growth Exceeds Actual Growth
124(3)
Ignore the Problem
125(1)
Return the Money to Shareholders
126(1)
Buy Growth
127(1)
Sustainable Growth and Pro Forma Forecasts
127(1)
New Equity Financing
128(4)
Why Don't U.S. Corporations Issue More Equity?
131(1)
Summary
132(1)
Additional Resources
133(1)
Problems
134(5)
PART THREE FINANCING OPERATIONS
139(96)
Chapter 5 Financial Instruments and Markets
141(52)
Financial Instruments
142(13)
Bonds
143(6)
Common Stock
149(4)
Preferred Stock
153(2)
Financial Markets
155(11)
Venture Capital Financing
155(2)
Private Equity
157(1)
Initial Public Offerings
158(2)
Seasoned Issues
160(4)
Issue Costs
164(2)
Efficient Markets
166(4)
What Is an Efficient Market?
166(3)
Implications of Efficiency
169(1)
Appendix: Using Derivatives to Manage Risks
170(15)
Forward Markets
172(1)
Hedging with Forward Contracts
172(1)
Hedging with Futures Contracts
173(1)
Types of Forwards and Futures
174(1)
Hedging with Swaps
175(1)
Interest Rate Swaps
176(1)
Currency Swaps
177(1)
Hedging with Options
178(3)
Limitations of Financial Market Hedging
181(1)
Valuing Options
182(3)
Summary
185(2)
Additional Resources
187(1)
Problems
188(5)
Chapter 6 The Financing Decision
193(42)
Financial Leverage
195(4)
Measuring the Effects of Leverage on a Business
199(7)
Leverage and Risk
201(2)
Leverage and Earnings
203(3)
How Much to Borrow
206(16)
Irrelevance
206(2)
Tax Benefits
208(1)
Distress Costs
208(5)
Flexibility
213(3)
Market Signaling
216(3)
Management Incentives
219(1)
The Financing Decision and Growth
219(3)
Selecting a Maturity Structure
222(1)
Inflation and Financing Strategy
223(1)
Appendix: The Irrelevance Proposition
223(4)
No Taxes
224(2)
Taxes
226(1)
Summary
227(1)
Additional Resources
228(2)
Problems
230(5)
PART FOUR EVALUATING INVESTMENT OPPORTUNITIES
235(150)
Chapter 7 Discounted Cash Flow Techniques
237(48)
Figures of Merit
238(20)
The Payback Period and the Accounting Rate of Return
239(1)
The Time Value of Money
240(5)
Equivalence
245(1)
The Net Present Value
246(2)
The Benefit-Cost Ratio
248(1)
The Internal Rate of Return
248(4)
Uneven Cash Flows
252(1)
A Few Applications and Extensions
253(3)
Mutually Exclusive Alternatives and Capital Rationing
256(1)
The IRR in Perspective
257(1)
Determining the Relevant Cash Flows
258(11)
Depreciation
260(2)
Working Capital and Spontaneous Sources
262(1)
Sunk Costs
263(1)
Allocated Costs
264(1)
Cannibalization
265(1)
Excess Capacity
266(1)
Financing Costs
267(2)
Appendix: Mutually Exclusive Alternatives and Capital Rationing
269(8)
What Happened to the Other $578,000?
270(1)
Unequal Lives
271(3)
Capital Rationing
274(1)
The Problem of Future Opportunities
275(1)
A Decision Tree
276(1)
Summary
277(1)
Additional Resources
278(1)
Problems
278(7)
Chapter 8 Risk Analysis in Investment Decisions
285(50)
Risk Defined
287(4)
Risk and Diversification
289(2)
Estimating Investment Risk
291(2)
Three Techniques for Estimating Investment Risk
292(1)
Including Risk in Investment Evaluation
293(1)
Risk-Adjusted Discount Rates
293(1)
The Cost of Capital
294(13)
The Cost of Capital Defined
295(1)
The Cost of Capital for Polaris
296(8)
The Cost of Capital in Investment Appraisal
304(1)
Multiple Hurdle Rates
304(3)
Four Pitfalls in the Use of Discounted Cash Flow Techniques
307(11)
The Enterprise Perspective vs. the Equity Perspective
307(3)
Inflation
310(1)
Real Options
311(5)
Excessive Risk Adjustment
316(2)
A Cautionary Note
318(1)
Appendix: Asset Beta and Adjusted Present Value
318(7)
Calculating Asset Beta
319(1)
Using Asset Beta to Estimate Equity Beta
320(1)
Asset Beta and Adjusted Present Value
321(4)
Summary
325(1)
Additional Resources
326(1)
Problems
327(8)
Chapter 9 Business Valuation and Corporate Restructuring
335(50)
Valuing a Business
337(4)
Assets or Equity?
338(1)
Dead or Alive?
338(2)
Minority Interest or Control?
340(1)
Discounted Cash Flow Valuation
341(8)
Free Cash Flow
342(1)
The Terminal Value
343(3)
A Numerical Example
346(2)
Problems with Present Value Approaches to Valuation
348(1)
Valuation Based on Comparable Trades
349(5)
Lack of Marketability
353(1)
The Market for Control
354(10)
The Premium for Control
354(3)
Financial Reasons for Restructuring
357(7)
The Empirical Evidence
364(2)
The LinkedIn Buyout
366(2)
Appendix: The Venture Capital Method of Valuation
368(7)
The Venture Capital Method---One Financing Round
369(3)
The Venture Capital Method---Multiple Financing Rounds
372(2)
Why Do Venture Capitalists Demand Such High Returns?
374(1)
Summary
375(1)
Additional Resources
376(2)
Problems
378(7)
Glossary 385(12)
Suggested Answers to Odd-Numbered Problems 397(32)
Index 429