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Give your students a strong foundation in contemporary finance using the latest PRINCIPLES OF FINANCE, 6E by leading finance authors Besley and Brigham. This dynamic survey text addresses today's most relevant financial concepts as students examine current financial markets and institutions, investments, and managerial finance. An ideal choice for corporate finance topics, this edition is more practical than ever before. Content has been updated to reflect current financial events and topics. Revised coverage further clarifies the presentation of time value of money and other complex concepts. When relevant, this edition now discusses the impact of the 2007-2009 financial market meltdown on finance today and clearly connects topics to students' personal finance decisions. Students see how concepts influence both immediate and long-term common financial decisions. Students learn to use spreadsheets for financial decisions and financial problem solving. The book's modular format allows you to present concepts in the order that best suits your course. The book begins by discussing principles of financial systems and business organizations, then addresses valuation concepts and corporate decision making and concludes with investment fundamentals. Count on PRINCIPLES OF FINANCE, 6E to offer the diversity of coverage and practical strengths your students need for success.
- NEW: The text has been completely updated with current dates and tax rate information throughout.
- NEW Real world data reflects the latest company financials, so your students get hands-on practice using real data.
- Numerous new examples use companies relevant to the concepts covered and relevant to students.
- The text has been updated with recent stock market information and the latest FED data.
- Additional information regarding flotation costs has been added.
- NEW: Information about IFRS and international business is now included.
- NEW: All banking information has been updated.
- The text features a brand new section covering Additional Funds Needed (AFN).
- WEALTH OF ETHICAL DILEMMAS REFLECTS TODAY'S CHALLENGES. A variety of practical ethical dilemmas throughout this edition emphasizes critical ethical questions prompted by actual recent world events. These ethical challenges prepare students for conflicts and questions facing individuals and corporations today.
- "MANAGERIAL PERSPECTIVES" DEMONSTRATE THE IMPACT OF FINANCE TODAY. Each chapter captures students' attention from the first page with an intriguing opening Managerial Perspectives that details actual events related to the chapter's content. Clear, engaging prose demonstrates the impact of finance in today's world and in recent news.
- SOLID DISCUSSION OF INTEREST RATES PREPARES FUTURE MANAGERS AND FINANCE PROFESSIONALS. Discussion of interest rates in Chapter 5 closely examines factors that affect interest rates, forecasting interest rates, and how interest rates are determined in today's financial markets. Students gain the understanding they need for future success.
- CONTINUED EMPHASIS ON SPREADSHEETS ENHANCES STUDENTS' SKILLS. Additional instruction on spreadsheets within each relevant chapter as well as throughout chapter appendices emphasizes how best to use this critical financial tool. A special end-of-book tutorial demonstrates how to maximize spreadsheet functions to solve financial problems, particularly those related to Time Value of Money.
1. An Overview of Finance.
2. Financial Assets (Instruments).
3. Financial Markets and the Investment Banking Process.
4. Financial Intermediaries and the Banking System.
5. The Cost of Money (Interest Rates).
Part II: GENERAL BUSINESS CONCEPTS.
6. Business Organizations and the Tax Environment.
7. Analysis of Financial Statements.
8. Financial Planning and Control.
Part III: FUNDAMENTALS OF VALUATION.
9. Time Value of Money.
10. Valuation Concepts.
11. Risk and Rates of Return.
Part IV: CORPORATE DECISION MAKING.
12. The Cost of Capital.
13. Capital Budgeting.
14. Capital Structure and Dividend Policy Decisions.
15. Working Capital Management.
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.
All instructor resources are conveniently located on the password-protected website at http://login.cengage.com. Instantly access the Instructor’s Manual with suggestions for using learning features and supplements as well as tips for using ethical dilemmas and references to related real situations. You can also access the Test Bank in Word with numerous conceptual as well as financial calculation questions labeled by level of difficulty. Easily add, edit, delete, or reorganize test items online with the new Cognero testing platform. You can also bring lectures to life with PowerPoint® slides that highlight key chapter features. Excel spreadsheet templates are also posted and contain models for the computer-related end of chapter problems.
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