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Continuing to set the standard for quality, reliability, accuracy, and innovation, Brigham/Houston’s market-leading FUNDAMENTALS OF FINANCIAL MANAGEMENT, CONCISE EDITION 9E provides a unique balance of clear concepts, current theory, and hands-on applications -- with early coverage of Time Value of Money and an emphasis on the concept of valuation throughout. Thorough coverage of 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. An all-new Adaptive Test Prep app helps students effectively review for exams -- anyplace, anytime. In addition, a comprehensive support package, prepared by the text authors, connects closely with the book to reduce preparation time and reinforce student understanding.
- Completely revised and up to date, FUNDAMENTALS OF FINANCIAL MANAGEMENT: CONCISE EDITION, 9e includes the latest research, trends, and developments from the field. Updated real-world examples reflect current situations affecting today’s companies. In addition, approximately 40 percent of the book’s problems have been revised.
- Providing even more flexibility and options for hands-on applications, Thomson One problems have been repurposed to be used with Internet resources. New problems have been added for Chapters 6, 7, and 17.
- The innovative new Adaptive Test Prep app helps student maximize their study time. Students decide how many quiz questions they want to review, and the app generates a preparatory quiz -- using questions similar to exam questions. The app provides students with feedback on every question, and students can continue practicing until they feel confident about taking the exam.
- 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 current real financial and business world examples, practical problem sets, and integrated mini-cases.
- INTEGRATED SPREADSHEET MODELS HELP STUDENTS REFINE FINANCIALPROBLEM-SOLVING TECHNIQUES. More than just Excel® templates, these integrated Spreadsheet Models accompany all but the first chapter and 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.
- Available with the ninth edition, MindTap® -- Cengage Learning’s fully online, highly personalized learning experience -- combines readings, multimedia, activities, and assessments into a singular Learning Path, which now 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 9e resources and adding their own content via apps that integrate into the MindTap® framework seamlessly with Learning Management Systems.
- 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, these questions are set aside in boxes within the text. After posing the question, the exercise walks students step-by-step 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.
- INSIGHTFUL REAL-WORLD EXAMPLES: To help students bridge the gap between concept and application, the authors highlight many real-life examples throughout the text, including a broad 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 up-to-date coverage of corporate bond ratings, yields, and dividend payouts for a broad range of companies.
- CURRENT EXCEL MODELS: Giving students hands-on experience using Excel® to problem-solve, up-to-date spreadsheet models parallel the discussion of each topic and also incorporate 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 appear immediately after each major section of the chapter, enabling students to test their comprehension as they work through the text, instead of waiting until the conclusion of the chapter.
- AUTHOR-WRITTEN SUPPLEMENT SUPPORT PROVIDES CONSISTENCY THROUGHOUT COMPREHENSIVE PACKAGE. Instructors and students will 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 and sizeable Test Bank, as well as numerous digital resources.
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