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Focus on the financial concepts, skills, and technological applications that are most critical for MBA students in today’s workplace with Ehrhardt/Brigham’s CORPORATE FINANCE: A FOCUSED APPROACH 5E. The text provides an in-depth treatment of essential corporate finance topics within a streamlined presentation that you can complete in a single semester. With its relevant and engaging presentation and numerous examples, your students will learn the latest financial developments as they also learn how to maximize a firm’s value in today’s changing business world. Students will master the many features and functions of spreadsheets with chapter Excel® Tool Kits, Build a Model problems, and Mini Cases that encourage “what-if” analysis on a real-time basis. Students will also gain hands-on experience using Thomson ONE Business School Edition, which gives students access to the same Thomson Reuters Financial database that business professionals use every day. As part of its comprehensive product package, Ehrhardt/Brigham’s CORPORATE FINANCE: A FOCUSED APPROACH 5E includes CengageNOW and the best-selling Aplia™ Finance as optional learning solutions that complement the book’s focused presentation of corporate finance fundamentals, support your course needs and outcomes, and help your students become “First in Finance”.
- Increased corporate governance coverage throughout the text.
- Increased emphasis on free cash flows (FCF) in chapters 13 and 14.
- Refreshed, easier-to-read interior design.
- Test Bank content now tagged by Tier I (Business Program.
- Interdisciplinary Learning Outcomes) and Tier II (Finance-specific) standards, topic, Bloom’s Taxonomy, and difficulty level to track course or institution learning outcomes.
- PROFESSIONAL POWER OF THOMSON ONE - BUSINESS SCHOOL EDITION. Your students can complete financial research and analysis using the same tool that professional brokers and Wall Street analysts trust every day --Thomson ONE-BSE online database. You and your students have instant access to leading financial data sources, including Thomson Reuters Financial, Worldscope, SEC Disclosure, First Call, Datastream and more. Corresponding Thomson ONE problems in most chapters in the text enable valuable practice.
- UNMATCHED AUTHOR EXPERTISE ENSURES CLEAR, CONTEMPORARY APPROACH. This premier authorship team combines the extensive teaching background and more than 30 years of text writing experience of Dr. Gene Brigham with the contemporary scholarship and practical, professional expertise of Dr. Mike Ehrhardt. Together, these authors deliver a consistent, accurate and innovative approach that will keep your students first in finance.
- PRACTICAL APPLICATION OF THEORY AND TRENDS HIGHLIGHTS THE ROLE OF FINANCE TODAY. The authors clearly illustrate the application of concepts and theories throughout the book’s proven presentation, wealth of actual business examples, thought-provoking problem sets, and integrated mini-cases. Comprehensive Mini Cases at the end of each chapter further demonstrate applications with corresponding PowerPoint slides and spreadsheets as well as solutions on the instructor’s password-protected companion site.
- RELEVANT EXAMPLES THAT REFLECT TODAY’S GLOBAL ECONOMIC ENVIRONMENT. Updated, timely real examples throughout almost every chapter demonstrate the impact of today’s financial crisis in all areas of business and life. “Global Economic Crisis” boxes in many chapters highlight specific finance issues related to today’s economic environment.
- EXCEL TOOL KITS ENSURE STUDENT SPREADSHEET PROFICIENCY. Actual screen captures from the Excel Tool Kit models that correspond with each chapter appear within this edition, allowing students to clearly and more closely follow the models in analysis.
- END-OF-CHAPTER SPREADSHEET PROBLEMS GUIDE STUDENTS THROUGH BUILDING A MODEL. Partially completed, end-of-chapter spreadsheets contain financial data and instructions on how to “build a model.” This structure guides the student through the problem, minimizes unnecessary typing and data entry, and makes it easy to grade the work because all student answers appear in the same location on the spreadsheet.
1. An Overview of Financial Management and the Financial Environment.
Web Extensions 1A: An Overview of Derivatives; 1B: A Closer Look at the Stock Markets
2. Financial Statements, Cash Flow, and Taxes.
Web Extensions 2A: The Federal Income Tax System for Individuals.
3. Analysis of Financial Statements.
PART II: FIXED INCOME SECURITIES.
4. Time Value of Money.
Web Extensions 4A: The Tabular Approach; 4B: Derivation of Annuity Formulas; 4C: Continuous Compounding.
5. Bonds, Bond Valuation, and Interest Rates.
Web Extensions 5A: A Closer Look at Zero Coupon Bonds; 5B: A Closer Look at TIPS: Treasury Inflation Protected Securities; 5C: A Closer Look at Bond Risk: Duration; 5D: The Pure Expectations Theory and Estimation of Forward Rates.
PART III: STOCKS AND OPTIONS.
6. Risk, Return, and the Capital Asset Pricing Model.
Web Extensions 6A: Continuous Probability Distributions; 6B: Estimating Beta with a Financial Calculator.
7. Stocks, Stock Valuation, and Stock Market Equilibrium.
Web Extensions 7A: Derivation of Valuation Equations.
8. Financial Options and Applications in Corporate Finance.
PART IV: PROJECTS AND THEIR VALUATION.
9. The Cost of Capital.
Web Extensions 9A: The Required Return Assuming Nonconstant Dividends and Stock Repurchases.
10. The Basics of Capital Budgeting: Evaluating Cash Flows.
Web Extensions 10A: The Accounting Rate of Return (ARR).
11. Cash Flow Estimation and Risk Analysis.
Web Extensions 11A: Certainty Equivalents and Risk-Adjusted Discount Rates.
PART V: CORPORATE VALUATION AND GOVERNANCE.
12. Financial Planning and Forecasting Financial Statements.
Web Extensions 12A: Advanced Techniques for Forecasting Financial Statements Accounts.
13. Corporate Valuation, Value-Based Management and Corporate Governance.
PART VI: CASH DISTRIBUTIONS AND CAPITAL STRUCTURE.
14. Distributions to Shareholders: Dividends and Repurchases.
15. Capital Structure Decisions.
Web Extensions 15A: Degree of Leverage.
PART VII: MANAGING GLOBAL OPERATIONS.
16. Working Capital Management.
Web Extensions 16A: Secured Short-Term Financing.
17. Multinational Financial Management.
A. Solutions to Self-Test Problems.
B. Answers to End-of-Chapter Problems.
C. Selected Equations and Data.
D. Values of the Areas under the Standard Normal Distribution Function.
Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.
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Cengage Learning Testing Powered by Cognero® is a flexible, online system that allows you to: import, edit, and manipulate content from the text’s test bank or elsewhere, including your own favorite test questions; create multiple test versions in an instant; and deliver tests from your LMS, your classroom, or wherever you want.