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Fundamentals of Financial Management, Concise Edition 8th Edition

Eugene F. Brigham, Joel F. Houston

  • Published
  • Previous Editions 2012, 2009, 2007
  • 688 Pages
Starting At 140.00 See pricing and ISBN options

Overview

Give your students a focused understanding of today's corporate finance and financial management with the latest concise approach from the market-leading author team that has set the standard for quality, reliability, accuracy, and innovation. Brigham/Houston's FUNDAMENTALS OF FINANCIAL MANAGEMENT, CONCISE EDITION 8E provides a unique balance of clear concepts, contemporary theory, and practical applications with early coverage of Time Value of Money (TVM) and an emphasis on the concept of valuation throughout. This text's emphasis on the basics helps students understand the concepts and reasons behind corporate budgeting, financing, and working capital decision making. Numerous practical examples, proven end-of-chapter applications, and Integrated Cases demonstrate theory in action, while Excel® Spreadsheet Models help students master this important finance tool. Enhancements to the online homework product include Problem Walk-Throughs, Blueprint Problems, and a new interactive eReader with embedded videos. A comprehensive support package, prepared by the text authors, connects closely with the book to reduce preparation time and reinforce students understanding. You can engage your students with Thomson One Business School Edition, the same financial online database professionals use every day. Trust the strengths and support found in FUNDAMENTALS OF FINANCIAL MANAGEMENT, CONCISE EDITION 8E to put you and your students First in Finance today.

Eugene F. Brigham, University of Florida

Dr. Eugene F. Brigham is Graduate Research Professor Emeritus at the University of Florida, where he has taught since 1971. Dr. Brigham received his MBA and Ph.D. from the University of California-Berkeley and his undergraduate degree from the University of North Carolina. Prior to joining the University of Florida, Dr. Brigham held teaching positions at the University of Connecticut, the University of Wisconsin and the University of California, Los Angeles. A former president of the Financial Management Association, Dr. Brigham has written many journal articles on the cost of capital, capital structure and other aspects of financial management. He has authored or co-authored 10 textbooks on managerial finance and managerial economics that are used at more than 1,000 universities in the United States and have been translated into 11 languages worldwide. He has testified as an expert witness in numerous electric, gas and telephone rate cases at both federal and state levels. He has served as a consultant to many corporations and government agencies, including the Federal Reserve Board, the Federal Home Loan Bank Board, the U.S. Office of Telecommunications Policy and the RAND Corp. Dr. Brigham continues to teach, consult and complete research in addition to his academic writing. He spends his spare time golfing, enjoying time with his family and dogs and tackling outdoor adventure activities, such as biking through Alaska.

Joel F. Houston, University of Florida

Joel F. Houston is the John B. Hall Professor of Finance at the University of Florida. He earned his M.A. and Ph.D. from the Wharton School at the University of Pennsylvania and his undergraduate degree from Franklin and Marshall College. Prior to his appointment at the University of Florida, Dr. Houston was an economist at the Federal Reserve Bank of Philadelphia. His research primarily focuses on the areas of corporate finance and financial institutions, and his work has been published in such top journals as THE JOURNAL OF FINANCE, JOURNAL OF FINANCIAL ECONOMICS, JOURNAL OF BUSINESS, JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS, JOURNAL OF ACCOUNTING RESEARCH, and FINANCIAL MANAGEMENT. He currently serves as an Associate Editor for the JOURNAL OF MONEY, CREDIT AND BANKING, the JOURNAL OF FINANCIAL SERVICES RESEARCH and the JOURNAL OF FINANCIAL ECONOMIC POLICY. Since arriving at the University of Florida in 1987, Professor Houston has received 25 teaching awards and has been actively involved in both undergraduate and graduate education. In addition to co-authoring leading textbooks in financial management, Dr. Houston has participated in management education programs for the PURC/World Bank Program, Southern Company, Exelon Corporation and Volume Services America. He enjoys playing golf and spending time with his wife (Sherry), son and daughter-in-law (Chris and Renae), and daughter (Meredith). An avid sports fan, he follows the Florida Gators as well as the Pittsburgh Steelers, Pirates, and Penguins.
  • The 8th edition has been updated to include discussions of the federal debt, the ongoing recovery of financial markets, and the European debt crisis.
  • Financial analysis examples using real-life companies such as Whole Foods, Berkshire Hathaway, and Apple.
  • New Blueprint Problems, written by the authors and located within CNOW and MindTap™, teach students the fundamental finance concepts and their associated building blocks - going beyond memorization. These comprehensive problems are written to emulate how you would walk through a problem in class. By stepping through the problem solving process step-by-step they reinforce foundational concepts in addition to having students demonstrate they understand the problem solving process and business impact of each topic. These problems include rich feedback and explanations, providing students with an excellent learning resource to solidify and reinforce students' understanding.
  • New ConceptClips, embedded throughout the new interactive eReader, present fundamental key finance topics to students in an entertaining and memorable way via short animated video clips. Developed by Mike Brandl of The Ohio State University, these vocabulary animations provide students with a memorable auditory and visual representation of the important terminology for the course.
  • New Problem Walk-Throughs, embedded in the new interactive eReader and online homework, walk students through solving a problem from start to finish. Students can play and replay the tutorials as they work through homework assignments or prepare for quizzes and tests, almost as though they had an instructor by their side the whole time. Ideal for homework, study outside the classroom, or distance learning, there are more than 100 Walk-Throughs to give students extra instructional help whenever and wherever it's most useful.
  • MindTap™, Cengage Learning’s fully online, highly personalized learning experience, will be available for FUNDAMENTALS OF FINANCIAL MANAGEMENT, CONCISE EDITION 8E. By combining readings, multimedia, activities, and assessments into a singular Learning Path, MindTap™ guides you through your course with ease and engagement. The updated learning path includes an Interactive Chapter Reading, Problem Demonstrations, BluePrint Problems, and the Online Homework Assignment. Instructors can personalize the Learning Path for their students by customizing the robust suite of Brigham/Houston 8e resources and adding their own content via apps that integrate into the MindTap™ framework seamlessly with Learning Management Systems.
  • UPDATED EXCEL MODELS: In a continuing effort to help students know and use Excel® to problem-solve, the authors have updated the spreadsheet models that parallel the discussion of each topic and have also incorporated new in-text graphics to quickly show students how many of the problems can be solved using Excel®.
  • FOCUSED SELF-TEST PROBLEMS ENSURE STUDENT UNDERSTANDING THROUGHOUT THE CHAPTER. Strategically placed Self-test Problems for students appear immediately after each major section of the chapter and enable students to test their comprehension before moving ahead, instead of waiting until the conclusion of the chapter.
  • AUTHOR-WRITTEN SUPPLEMENT SUPPORT PROVIDES CONSISTENCY THROUGHOUT COMPREHENSIVE PACKAGE. You find the same level of accuracy and precision crafting that has made this text a leader throughout all of this edition's supplements. Prepared by the text authors to ensure consistency, this seamless, integrated package includes a comprehensive Instructor's Manual, Student Study Guide and sizeable Test Bank, as well as numerous digital resources.
  • UNIQUE BALANCE OF THEORY AND PRACTICE KEEPS TODAY'S STUDENTS ENGAGED AND FOCUSED. The hallmark strength of this leading finance text is that it clearly introduces important financial theories using a practically focused presentation. Students immediately see the impact and importance of financial theories and trends at work through proven learning features, a variety of today's most recent real financial and business world examples, practical problem sets, and integrated mini-cases.
  • PROFESSIONAL POWER OF THOMSON ONE-BUSINESS SCHOOL EDITION (BSE) LETS STUDENTS WORK WITH ACTUAL PROFESSIONAL FINANCIAL TOOLS. Thomson ONE-BSE online database, available with this edition, puts students in the role of an actual business professional--letting them complete basic financial research and analysis using the same tool that professional brokers and analysts use every day to access leading financial data sources. Students use Thomson ONE-BSE to complete special end-of-chapter problems in the text.
  • INTEGRATED SPREADSHEET MODELS HELP STUDENTS REFINE FINANCIALPROBLEM-SOLVING TECHNIQUES. More than just Excel® templates, these integrated Spreadsheet Models, accompanying all but the first chapter, guide students in developing effective techniques for financial problem solving. Spreadsheet Models serve as useful tutorials that demonstrate how to maximize Excel® as a powerful finance tool.
  • MINDTAP™ for Brigham/Houston's FUNDAMENTALS OF FINANCIAL MANAGEMENT is a new personal learning experience that combines all your digital assets--readings, multimedia, activities, assignments, and assessments--into a singular learning path to improve student outcomes.
  • APLIA'S PREPARING FOR FINANCE tutorials ensure that students confront and overcome deficiencies in prerequisite math, accounting, economics, and statistics. A tutorial on using financial calculators is also included.
  • QUICK QUESTIONS: Located in key chapters, the authors placed these questions in set-aside boxes within the text. After posing the question, the exercise walks students through the process of finding its solution. The authors designed these questions to parallel the activity in a classroom setting, in which students go through an example to make concepts more concrete.
  • EXPANDED REAL-WORLD EXAMPLES: To help students bridge the gap between concept and application, the authors have included many real-life examples throughout the text including a broader discussion of the role of hedge funds and private equity of major firms, a detailed breakdown of the cash conversion cycle components for several leading companies, and an extensive updating of corporate bond ratings, yields, and dividend payouts for a broad range of companies.
Part I: INTRODUCTION TO FINANCIAL MANAGEMENT.
1. An Overview of Financial Management.
2. Financial Markets and Institutions.
Part II: FUNDAMENTAL CONCEPTS IN FINANCIAL MANAGEMENT.
3. Financial Statements, Cash Flow, and Taxes.
4. Analysis of Financial Statements. Web Appendix 4A: Common Size and Percent Change Analyses.
5. Time Value of Money. Web Appendix 5A: Continuous Compounding and Discounting. Web Appendix 5B: Growing Annuities.
Part III: FINANCIAL ASSETS.
6. Interest Rates.
7. Bonds and Their Valuation. Web Appendix 7A: Zero Coupon Bonds. Web Appendix 7B: Bond Risk and Duration. Web Appendix 7C: Bankruptcy and Reorganization.
8. Risk and Rates of Return. Web Appendix 8A: Calculating Beta Coefficients.
9. Stocks and Their Valuation. Appendix 9A: Stock Market Equilibrium.
Part IV: INVESTING IN LONG-TERM ASSETS: CAPITAL BUDGETING.
10. The Cost of Capital. Web Appendix 10A: The Cost of New Common Stock and WACC.
11. The Basics of Capital Budgeting.
12. Cash Flow Estimation and Risk Analysis. Appendix 12A: Tax Depreciation. Web Appendix 12B: Refunding Operations. Web Appendix 12C: Using the CAPM to Estimate the Risk-Adjusted Cost of Capital. Web Appendix 12D: Techniques for Measuring Beta Risk. Web Appendix 12E: Comparing Mutually Exclusive Projects with Unequal Lives. Web Appendix 12F: Real Options: Investment Timing, Growth, and Flexibility.
Part V: CAPITAL STRUCTURE AND DIVIDEND POLICY.
13. Capital Structure and Leverage. Web Appendix 13A: Degree of Leverage.
14. Distributions to Shareholders: Dividends and Share Repurchases. Web Appendix 14A: An Example: The Residual Dividend Model.
Part VI: WORKING CAPITAL MANAGEMENT, FORECASTING, AND MULTINATIONAL FINANCIAL MANAGEMENT.
15. Working Capital Management. Web Appendix 15A: Inventory Management. Web Appendix 15B: Short-Term Loans and Bank Financing.
16. Financial Planning and Forecasting. Web Appendix 16A: Forecasting Financial Requirements When Financial Ratios Change.
17. Multinational Financial Management.
Appendix A: Solutions to Self-Test Questions and Problems.
Appendix B: Answers to Selected End-of-Chapter Problems.
Appendix C: Selected Equations and Tables.
MindTap
Each MindTap product offers the full, mobile-ready textbook combined with superior and proven learning tools at one affordable price. Students who purchase digital access can add a print option at any time when a print option is available for their course.

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FOR INSTRUCTORS

Instructor's Edition, Concise

ISBN: 9781305635944