This book provides students with a conceptual understanding of the financial decision making process, rather than just an introduction to the tools and techniques of finance. For the student, it is all too easy to lose sight of the logic that drives finance and focus instead on memorizing formulas and procedures. As a result, students have a difficult time understanding the interrelationships among the topics covered.

    Moreover, later in life when the problems encountered do not match the textbook presentation, students may find themselves unprepared to abstract from what they learned. To overcome this problem, the opening chapter presents 5 underlying principles of finance, which serve as a springboard for the chapters and topics that follow. In essence, the student is presented with a cohesive, interrelated perspective from which future problems can be approached.

Part 1 The Scope and Environment of Financial Management
Part 2 The Valuation of Financial Assets
Part 3 Investment in Long-Term Assets
Part 4 Capital Structure and Dividend Policy
Part 5 Working-Capital Management and International Business Finance