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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.
- 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.
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.
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.
Instructor's Edition, Concise