Give your students a strong foundation in contemporary finance using the latest PRINCIPLES OF FINANCE, 5E 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. New Learning Objectives, Chapter Summaries, and in-chapter Self Tests ensure readers fully understanding concepts, while 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, 5E to offer the diversity of coverage and practical strengths your students need for success.
Table of Contents
Part I: GENERAL FINANCE CONCEPTS.
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.
Appendix 6A: 2011 Tax Rate Schedule.
7 Analysis of Financial Statements.
8 Financial Planning and Control.
Appendix 8A: Projected Financial Statements--Including Financing Feedbacks.
Part III: FUNDAMENTALS OF VALUation.
9 The Time Value of Money.
Appendix 9A: Generating an Amortization Schedule--Financial Calculator Solution and Spreadsheet Solution.
10 Valuation Concepts.
11 Risk and Rates of Return.
Part IV:CORPORATE DECISION MAKING.
12 The Cost of Capital.
13 Capital Budgeting.
Appendix 13A: Depreciation.
Appendix 13B: Using a Spreadsheet to Compute NPV and IRR.
14 Capital Structure and Dividend Policy Decisions.
15 Working Capital Management.
Part V: INVESTOR DECISION MAKING.
16 Investment Concepts.
17 Security Valuation and Selection.
Appendix A Using Spreadsheets to Solve Financial Problems.
Appendix B Solutions to Self-Test Problems.
Appendix C Answers to End-of-Chapter Problems.
Appendix D Selected Equations.