Fundamentals of Financial Management, Concise Edition, 7th Edition

  • includes Thomson ONE - Business School Edition
  • Eugene F. Brigham University of Florida
  • Joel F. Houston University of Florida
  • ISBN-10: 0538477113
  • ISBN-13: 9780538477116
  • 688 Pages Hardcover 
  • Previous Editions: 2009, 2007, 2004
  • © 2012 | Published
  • College Bookstore Wholesale Price = $178.25 
» Request an Online Copy for Review  Why an online review copy?
  • It's the greener, leaner way to review! An online copy cuts down on paper and on time. Reduce the wait (and the weight) of printed texts. Your online copy arrives instantly, and you can review it anytime from your computer or favorite mobile device.

If you prefer a print copy to review, please contact your representative.

 

About The Solution

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 new FUNDAMENTALS OF FINANCIAL MANAGEMENT, CONCISE EDITION, 7E 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 edition’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. 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; today’s leading online homework solution, Aplia™ for Finance; or CengageNOW course management system. Trust the strengths and support found in FUNDAMENTALS OF FINANCIAL MANAGEMENT, CONCISE EDITION, 7E to put you and your students First in Finance today.


Additional Product Information

Features/Benefits

  • APLIA™ FOR FINANCE ENGAGES STUDENTS AND SUPPORTS INTERACTIVE LEARNING. This fastest-growing online pedagogical tool for finance saves you time while helping your students perform better in class. This trusted homework solution includes text-correlated real-time interactive tutorials, online experiments, news analyses, and Auto-graded problem sets. It is simple to ensure your students are consistently well prepared for class as this leading online system provides immediate feedback and student accountability.
  • ENHANCED TEST BANK PROVIDES ALGORITHMIC PROBLEMS FOR YOUR FLEXIBILITY. Revised by the authors for this edition, the proven, comprehensive Test Bank offers hundreds of class-tested questions and problems in printed or electronic form. Many of the problems can be algorithmically modified using ExamView® computerized testing to create unlimited versions of the test or specific problems -- ideal if you teach a large number of students.
  • 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. A hallmark strength of this leading finance text, this edition 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 FINANCIAL PROBLEM-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.

What's New

  • CURRENT, RELEVANT COVERAGE: The 7th edition has been updated to include discussions of several major events such as the BP oil spill, the European debt crisis, and the ongoing weakness in the economy and financial markets.
  • NEW SETS OF “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 more 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.
  • MORE EMPHASIS ON AND CLARITY OF KEY TOPICS: The authors have clarified their discussion of free cash flow (Chapter 3) and better demonstrated its effects on the value of common stocks (Chapter 9) and the value of corporate projects (Chapters 11 and 12). They also reorganized some of the spreadsheet examples so that these have a more consistent presentation throughout the text.
  • 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®.
  • NEW WEB APPENDICES ADDED: Two new Web Appendices on “Common Sized Balance Sheets” and “Duration” have been added that are an ideal option for instructors with advanced students.

Best Buy Packages

Other Popular Packages

Choose the textbook packaged with the resources that best meet your course and student needs. Contact your Cengage Learning representative for more information.


Bundle: Text + Finance CourseMate with eBook Printed Access Card
ISBN-10: 1133069487  | ISBN-13: 9781133069485
List Price = $253.95  | CengageBrain Price = $202.99  | College Bookstore Wholesale Price = $188.25

This Bundle Includes:

  • Fundamentals of Financial Management, Concise Edition
    List Price = $240.95  | CengageBrain Price = $192.49  | College Bookstore Wholesale Price = $178.25
  • CourseMate Printed Access Card
    List Price = $146.95  | College Bookstore Wholesale Price = $109.00


Bundle: Text + Aplia Printed Access Card, Concise + Aplia Edition Sticker
ISBN-10:  1133011934  | ISBN-13:  9781133011934
List Price = $253.95  | CengageBrain Price = $202.99  | College Bookstore Wholesale Price = $188.25

This Bundle Includes:

  • Fundamentals of Financial Management, Concise Edition
    List Price = $240.95  | CengageBrain Price = $192.49  | College Bookstore Wholesale Price = $178.25
  • Aplia Printed Access Card, Concise
    List Price = $131.95  | College Bookstore Wholesale Price = $97.75


Bundle: Text + CengageNOW with eBook Printed Access Card, Concise
ISBN-10:  1133159834  | ISBN-13:  9781133159834
List Price = $253.95  | CengageBrain Price = $202.99  | College Bookstore Wholesale Price = $188.25

This Bundle Includes:

  • Fundamentals of Financial Management, Concise Edition
    List Price = $240.95  | CengageBrain Price = $192.49  | College Bookstore Wholesale Price = $178.25
  • CengageNOW Printed Access Card, Concise
    List Price = $131.95  | College Bookstore Wholesale Price = $97.75


Printed Text, Concise Ed. + Aplia Instant Access, Concise
ISBN-10:  1133424295  | ISBN-13:  9781133424291
List Price = $253.95  | CengageBrain Price = $202.99  | College Bookstore Wholesale Price = $188.25

This Bundle Includes:

  • Fundamentals of Financial Management, Concise Edition
    List Price = $240.95  | CengageBrain Price = $192.49  | College Bookstore Wholesale Price = $178.25
  • Aplia Instant Access, Concise
    List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00


Printed Text, Concise + Aplia Instant Access + Thomson ONE - Business School Edition for Finance Web Site (6 Month Access)
ISBN-10:  1418824372 | ISBN-13:  9781418824372
List Price = $294.95  | CengageBrain Price = $235.49  | College Bookstore Wholesale Price = $218.20

This Bundle Includes:

  • Fundamentals of Financial Management, Concise Edition
    List Price = $240.95  | CengageBrain Price = $192.49  | College Bookstore Wholesale Price = $178.25
  • Thomson ONE - Business School Edition for Finance Web Site (6 Month Access)
    List Price = $29.95  | CengageBrain Price = $29.95  | College Bookstore Wholesale Price = $29.95
  • Aplia Instant Access, Concise
    List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00


Table of Contents

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.

Supplements

Instructor Supplements

Instructor Supplements

All supplements have been updated in coordination with the main title. Select the main title’s "About the Solution" tab, then select "What's New" for updates specific to title's edition. For more information about these supplements, or to obtain them, contact your Learning Consultant.

Instructor's Manual, Concise Ed.  (ISBN-10: 0538481536 | ISBN-13: 9780538481533)

Find all of the time-saving tools you need for class preparation with this comprehensive Instructor’s Manual, written by the text’s authors to ensure continuity. The IM contains answers to all text questions and problems and detailed solutions to Integrated Cases. It also contains descriptions of other ancillaries and a sample syllabus and course schedule. A digital version is also available on the Instructor’s Resource CD-ROM (IRCD) and the instructors-only section of the text companion website.


Instructor's Resource CD-ROM, Concise Ed.  (ISBN-10: 0538481560 | ISBN-13: 9780538481564)

Place the key teaching resources you need at your fingertips with this all-in-one resource. Save time as you create a dynamic course using these instructors’ resources including electronic versions of the Instructor’s Manual, Test Bank in Microsoft® Word, Excel® spreadsheet models, solutions to spreadsheet problems, and PowerPoint® slides. All content is arranged to maximize accessibility and minimize search time. Bring lectures to life as new colorful PowerPoint® slides cover the essential topics for each chapter. Created by the authors and updated for the 7E, all of the graphs, tables, lists, and calculations are developed sequentially for your convenience, and you can easily modify slides for your specific needs. With the student Blueprints supplement, slides serve as guides for student note-taking and study. PowerPoint® slides are easily accessible on the IRCD or text companion website. Easily illustrate the application of spreadsheets to finance concepts using Spreadsheet Models and the book’s Integrated Case data. Much more then just Excel® templates, these spreadsheet models serve as tutorials to enhance students’ understanding of how to best utilize Excel® as a powerful finance tool. Spreadsheet models are available on the IRCD and the text companion website at www.cengage.com/finance/brigham.


Test Bank, Concise Edition  (ISBN-10: 0538481544 | ISBN-13: 9780538481540)

Check your students’ understanding of key concepts easily and efficiently with this proven Test Bank, written by the text authors. Updated to reflect the 7E, the Test Bank provides hundreds of class-tested questions and problems. Each question is identified by topic, level of difficulty, and correct answers as well as complete solutions for all numerical problems. The Test Bank is also available in Microsoft® Word format on the IRCD or text companion site.


ExamView®, Concise  (ISBN-10: 0538482427 | ISBN-13: 9780538482424)

Easily check your students’ understanding of concepts and applications with this easy-to-use test creation software. ExamView® computerized testing makes test preparation, scoring, and grading easy with all of the proven questions in the printed Test Bank. This easy-to-use, computerized test creation software is compatible with Microsoft® Windows®. You can add or edit questions, instructions, and answers, and select questions by previewing them on the screen, selecting them randomly, or selecting them by number. Instructors can also create and administer quizzes online, whether over the Internet, a local area network (LAN), or a wide area network (WAN). Contact your Cengage Learning representative for more information.


Study Guide, Concise Ed.  (ISBN-10: 0538481528 | ISBN-13: 9780538481526)

Written by the text authors and fully updated for the 7E, this invaluable tool gives your students the support they need to fully understand course concepts. The Study Guide contains key learning objectives for each chapter, outlines key sections, provides self-test questions, and offers a set of problems similar to those in the text and the Test Bank with fully worked-out solutions.

List Price = $59.95  | CengageBrain Price = $59.49  | College Bookstore Wholesale Price = $44.75


Interactive Lecture Guide, Concise  (ISBN-10: 1285170822 | ISBN-13: 9781285170824)

Simplify your lecture preparation, fine-tune your lecture content, and help your students become “First in Finance” with this new Interactive Lecture Guide. Created by Professor Sally Guyton (Texas A&M University) and successfully used in her own courses for years, this guide has been carefully structured to facilitate student engagement during class. Each chapter of the Interactive Lecture Guide for FUNDAMENTALS OF FINANCIAL MANAGEMENT, CONCISE EDITION, 7E contains a complete lecture outline, note-taking pages, and practice problems. Note: The Interactive Lecture Guide is available in print format only. Contact your local Cengage Learning representative for more information.

List Price = $54.95  | CengageBrain Price = $54.49  | College Bookstore Wholesale Price = $41.00


CourseMate Instant Access  (ISBN-10: 1111750319 | ISBN-13: 9781111750312)

Cengage Learning's CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Maximize your course success with the integrated eBook and chapter-specific learning tools that include flashcards, quizzes, videos, and more in your CourseMate. Key Features: Interactive eBook, Engagement Tracker, Learning Objectives, Tutorial Quizzes, Glossary and Flashcards, and Web Links and References.

List Price = $129.00  | CengageBrain Price = $129.00  | College Bookstore Wholesale Price = $129.00


Book Only  (ISBN-10: 0538477121 | ISBN-13: 9780538477123)


PowerPoint Slides  (ISBN-10: 0538482796 | ISBN-13: 9780538482790)


Student Supplements

Student Supplements

All supplements have been updated in coordination with the main title. Select the main title’s "About the Solution" tab, then select "What's New" for updates specific to title's edition. For more information about these supplements, or to obtain them, contact your Learning Consultant.

MindLink for CengageNOW Instant Access, Concise  (ISBN-10: 1133600131 | ISBN-13: 9781133600138)

List Price = $115.00  | College Bookstore Wholesale Price = $115.00


Study Guide, Concise Ed.  (ISBN-10: 0538481528 | ISBN-13: 9780538481526)

Earn the grade you want in your course with the help of this invaluable tool. This Study Guide lists key learning objectives for each chapter, outlines key sections, provides self-test questions, and offers a set of problems similar to those in the text and Test Bank with fully worked-out solutions.

List Price = $59.95  | CengageBrain Price = $59.49  | College Bookstore Wholesale Price = $44.75


Interactive Lecture Guide, Concise  (ISBN-10: 1285170822 | ISBN-13: 9781285170824)

Stay “First in Finance” with the new Interactive Lecture Guide for FUNDAMENTALS OF FINANCIAL MANAGEMENT, CONCISE EDITION, 7E. Developed by instructor Sally Guyton (Texas A&M University) for use in her own courses, this class-tested guide was created to make finance more interesting and understandable. Each chapter of the Interactive Lecture Guide contains a complete lecture outline, convenient note-taking pages, and practice problems to help you apply chapter concepts. Note: The Interactive Lecture Guide is available in print format only.

List Price = $54.95  | CengageBrain Price = $54.49  | College Bookstore Wholesale Price = $41.00


CourseMate Instant Access  (ISBN-10: 1111750319 | ISBN-13: 9781111750312)

Cengage Learning's Computers and Technology CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Access an integrated eBook, learning tools including flashcards, quizzes, and more, all designed specifically to work with FUNDAMENTALS OF FINANCIAL MANAGEMENT, 7th Edition.

List Price = $129.00  | CengageBrain Price = $129.00  | College Bookstore Wholesale Price = $129.00


CengageNOW Instant Access  (ISBN-10: 1111863067 | ISBN-13: 9781111863067)

Succeed in your finance course with CengageNOW, a powerful online homework tool that optimizes your learning experience. This interactive system generates a diagnostic Personalized Study Plan (with a chapter-specific Pre-test, Study Plan, and Post-test) to help you master concepts, prepare for exams, and get a better grade

List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00


General MindLink for CourseMate Instant Access  (ISBN-10: 1285762215 | ISBN-13: 9781285762210)

The more you study, the better the results. Make the most of your study time by accessing everything you need to succeed in your financial management course in one place. Read your eBook, take notes, review flashcards, and take practice quizzes—all online with MindLink for CourseMate.

List Price = $129.00  | CengageBrain Price = $129.00  | College Bookstore Wholesale Price = $129.00


Flash Cards Instant Access  (ISBN-10: 1305208714 | ISBN-13: 9781305208711)

Flash cards are effective study aids especially when you only have a limited amount of time. These flash cards work with your title and can help you to review and learn essential terms and key concepts. This is instant access product; at the completion of your purchase, simply go to "My Home" and gain immediate access to your product. Note: If you have purchased CourseMate for your title, flash cards are already included.

List Price = $4.00  | CengageBrain Price = $4.00  | College Bookstore Wholesale Price = $4.00


Quizzing Instant Access  (ISBN-10: 1305206037 | ISBN-13: 9781305206038)

Quizzes are effective study aids especially when you only have a limited amount of time. These quizzes work with your title and can help you to review and learn essential terms and key concepts. This is instant access product; at the completion of your purchase, simply go to "My Home" and gain immediate access to your product. Note: If you have purchased CourseMate for your title, quizzes are already included.

List Price = $5.00  | CengageBrain Price = $5.00  | College Bookstore Wholesale Price = $5.00


Quizzing with Flash Cards Instant Access  (ISBN-10: 130520347X | ISBN-13: 9781305203471)

Flash cards and quizzes are effective study aids especially when you only have a limited amount of time. These flash cards and quizzes work with your title and can help you to review and learn essential terms and key concepts. This is instant access product; at the completion of your purchase, simply go to "My Home" and gain immediate access to your product. Note: If you have purchased CourseMate for your title, flash cards and quizzes are already included.

List Price = $6.25  | CengageBrain Price = $6.25  | College Bookstore Wholesale Price = $6.25


Book Only  (ISBN-10: 0538477121 | ISBN-13: 9780538477123)

List Price = $239.95  | College Bookstore Wholesale Price = $178.00


Meet the Author

About the Author

Eugene F. Brigham

Dr. Eugene F. Brigham is Graduate Research Professor Emeritus at the University of Florida, where he has taught since 1971. Dr. Brigham received his M.B.A. 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. Dr. Brigham has served as president of the Financial Management Association and has written many journal articles on the cost of capital, capital structure, and other aspects of financial management. He has authored or co-authored ten 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 Corporation. Dr. Brigham continues to teach, consult, and complete research in addition to his academic writing. He spends his spare time on the golf course, enjoying time with his family and dogs, and tackling outdoor adventure activities, such as biking through Alaska.

Joel F. Houston

Joel F. Houston is the John B. Hall Professor of Finance at the University of Florida. He received 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. Joel's research is primarily in the areas of corporate finance and financial institutions, and his work has been published in a number of top journals including THE JOURNAL OF FINANCE, JOURNAL OF FINANCIAL ECONOMICS, JOURNAL OF BUSINESS, JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS AND FINANCIAL MANAGEMENT. Professor Houston also 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, Joel has received 19 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. Joel enjoys playing golf and tennis and spending time with his wife (Sherry) and two children (Chris and Meredith). He is an avid sports fan who follows the Florida Gators, and the Pittsburgh Steelers, Pirates and Penguins.

Custom

Custom learning materials let you create a digital or print course solution in the style and format best for you and your learners. Maximize engagement and achieve desired outcomes with the aid of our academic and digital experts, who have years of experience helping instructors customize material to specific course needs.
Create your custom solution »