Basic Financial Management
This book takes a valuation approach with readability and a visual presentation as its greatest strengths. Since the emphasis is on adding value to the firm, each part of the text connects financial decision-making to common stock valuation.
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Time Value Techniques
A CASE PROBLEM
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40 percent accounts after-tax amount analysis annual annuity average balance sheet bank bonds book value calculated capital budget capital structure cash ﬂow diagram cash flows common equity common stock constant dividend cost of capital current assets depreciation discount rate earnings after tax earnings per share EBIT equation equipment equivalent cash ﬂow ﬁnance ﬁnancial manager ﬁnd ﬁrst ﬁve ﬁxed forecast funds future value income statement increase interest rate internal rate inventory investors issue lease loan long-term debt MACRS marginal cost marginal tax rate market value marketable securities Martin Corporation maturity number of shares operating leverage option payments plans preferred stock present value proﬁt proﬁtability purchase rate of return ratio reﬂects replacement project required rate retained earnings revenues risk selling speciﬁed stock dividends Stock Exchange stock split stockholders Table tion total assets Treasury value factor Wall Street Journal yield yield to maturity