Summary

This complete, easy-to-follow, step-by-step introduction to financial decision-making is rooted both in current financial theory and world economic conditions. It explores both the basic tools and fundamental principles upon which finance is based, and gives readers an exceptionally strong intuitive foundation in the logic that drives finance and the interrelationships among its many cutting-edge theories and practices. Presents and explores Ten Axioms of Finance, emphasizes actual business practices, and provides an abundance of real-world examples, many of well-known companies. Covers: The Role of Financial Markets and Interest Rates in Financial Management; Evaluating Financial Performance; Financial forecasting, Planning, and Budgeting; Mathematics of Finance; Risk and Rates of Return; Bond Valuation; Stock Valuation; Capital-Budgeting Techniques; Cash Flow and Other Topics in Capital Budgeting; Capital Budgeting and Risk Analysis; Cost of Capital; Analysis and Impact of Leverage; Planning the Firm's Financing Mix; Dividend Policy and Internal Financing; Working Capital Management and short-Term Financing; Cash and Marketable Securities Management; Accounts Receivable, Inventory, and Total Quality Management; Term Loans and Leases; The Use of Futures, Options, and Currency Swaps to Reduce Risk; Corporate Restructuring: Combinations and Divestitures; and International Business Finance. For anyone needing a solid, intuitive, introduction to Basic Financial Management.