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Operating Environnient of Financial Management
FINANCIAL ANALYSIS AND PLANNING
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accounts receivable acquiring ﬁrm altemative annuity Assume balance sheet bankruptcy borrower Braden Industries break-even capital budget capital structure capital-budgeting cash budget cash ﬂows Chapter coefﬁcient combined leverage commercial banks commercial paper common stock compensating balances compound amount computed contained corporation corporation's cost of capital credit terms creditors current assets current liabilities debt decision rule deﬁned depreciation dividends dollar eamings EBIT Equation equity evaluating example ﬁg ﬁnancial leverage ﬁnancial manager ﬁnancial risk ﬁnancing ﬁrst ﬁxed ﬂoating forecasted income statement increase interest rate inventory investment alternatives investors lease loan long-term market-value weights maturity measure ment merger operating leverage outﬂows output payback payments preferred stock present value produce proﬁtability proﬁts rate of return ratio required rate result retained earnings retum revolving credit revolving credit agreement securities selling shareholder wealth shares speciﬁc cost strategy target ﬁrm’s taxes tion total assets working-capital policy zero