MANAGING BUSINESS FINANCE MYDDELTON D. Księgarnia

1st Edition
Prof David R. Myddelton
2000 248 pages 0273-64645-1 (Paperback)

Managing Business Finance offers a concise and analytical introduction to the basics of financial management. The text is based on The Essence of Financial Management, and the general flavour and aims of the original book remain unchanged, focusing on core issues in finance and their relationship to the business world.

Aimed at MBA students, or those taking short courses in financial management.
This is a broad based and concise introduction to the key concepts and practical aspects of financing and investment decisions, illustrated with examples and a glossary of key terms.

Well written overview of key areas of financial management
Concise, non-technical, succinct - making the subject accessible regardless of mathematical ability
Comprehensive glossary
New coverage on "Cost of Capital" in chapter 9
New chapter on "Valuing a business" at the end to tie all the key issues together
Increased coverage on international finance and equity risk premium
More diagrams added to explain the theory
Questions and Problems have been added at the end of each chapter

1. INTRODUCTION
1. BUSINESS FINANCE
a. Financial objectives of a business
b. The market system
c. Owners and managers
2. THE FINANCIAL ENVIRONMENT
a. Financial markets
b. Financial institutions
c. Financial regulation
3. ACCOUNTING
a. Balance sheet
b. Profit and loss account
c. Basic accounting concepts
4. BUSINESS PERFORMANCE
a. Return on investment
b. Other aspects of performance
2. INTEREST RATES
1. TIME
a. Pure time-preference
b. The term structure of interest rates
c. Index-linked gilts
2. INFLATION
a. Postwar UK inflation
b. Problems of inflation
c. The inflation premium
d. Inflation and the term structure
3. RISK
a. The risk premium
4. FOREIGN CURRENCIES
a. Foreign exchange rates
3. CASH
1. MONEY
a. What is money?
b. Why do firms need cash?
c. International money
2. CASH FLOWS
a. Flows of cash in business
b. Cash flow statement
3. CASH AND PROFIT
a. Cash and profit are different
b. Cash flow and depreciation
c. Cash or profit: which matters more?
4. CASH PLANNING
a. Forecasting cash receipts from sales
b. Forecasting other cash inflows and outflows
c. Pro forma balance sheets
4. WORKING CAPITAL
1. WORKING CAPITAL AS A WHOLE
a. The working capital cycle
b. Financing current assets
c. Liquidity
2. STOCKS
a. Types of stock
b. Managing stock
3. DEBTORS
a. Components of 'debtors'
b. Individual customer credit
c. Overall credit control
d. Risk and return from debtors
4. SPONTANEOUS CREDITORS
a Components of 'creditors'
b. Trade creditors
c. Tax on profits
d. Proposed dividends
e. Deferred income
5. BASIC CAPITAL PROJECT APPRAISAL
1 BACKGROUND
a. The capital investment process
b Estimating net benefits
2. SIMPLE APPRAISAL METHODS
a. Average accounting return on investment
b. Payback
3. MEASURING PROFIT OVER TIME
a. The 'time value' of money
b. Net Terminal Value
4. NET PRESENT VALUE AND VARIANTS
a. Net Present Value
b Probability Index
c. Annualised Cost
d. Discounted Payback
5. INTERNAL RATE OF RETURN
6. SUMMARY
6. MORE ON CAPITAL PROJECTS
1. WORKING CAPITAL
a. Debtors
b. Stocks less creditors
c. Overall position
2. TAXATION
a. Writing-down allowances
b. Corporation tax
3. CAPITAL DISINVESTMENT
a Why projects end
b. Capital recovery
4. INFLATION
a. What inflation means
b. Inflation and capital projects
5. CAPITAL BUDGETING
a. Capital spending
b. Evaluation before and after
c. Post-project audits
d. International aspects
7. MERGERS AND ACQUISITIONS
1. REASONS FOR ACQUISITIONS
a. Reasons for buying
b. Reasons for selling
c. Management versus shareholders
d. Joint ventures and minority interests
2. THE PROCESS OF MERGING
a. Valuation
b. Bargaining
c. Valuation
d. Human consequences
e. Why some mergers fail
3. ACCOUNTING
a. Acquisitions and mergers
b. Price/earnings multiples and earnings per share
8. RISK AND UNCERTAINTY
1. RISK
a. Expected values
b. Decision trees
c. The discount rate
2. UNCERTAINTY
a. Sensitivity analysis
b. Managing under uncertainty
3. OPTIONS
a. Derivatives
b. Share options
c. Real options
4. FOREIGN EXCHANGE RISK
a. Transaction risk
b. Accounting translation exposure
c. Economic exposure
9. BORROWING
1. GENERAL FEATURES
a. Background
b. Short-term borrowing
c. Long-term borrowing
d. Key aspects of debt
2. REDUCING THE LENDER'S RISK
a. General considerations
b. Personal guarantees
c. Security
d. Covenants
3 OTHER TYPES OF DEBT
a. Leases
b. Income bonds
c. Convertible loans
d. Preference share capital
e. Provisions for liabilities and charges
4. VALUING DEBT
a. Risk-free securities
b. Corporate debt
c. Deep discount bonds
10. ORDINARY SHARE CAPITAL
1. SHAREHOLDERS' FUNDS
a. The nature of ordinary shares
b. Ordinary shareholders' funds in accounts
2. THE STOCK EXCHANGE
a. Economic functions
b. Global markets
c. Efficient markets
3. STOCK MARKET INDICES
a. UK indices
b. US indices
4. ISSUING EQUITY SHARES
a. Going public
b. Rights issues
c. Bonus issues and share splits
11. COST OF CAPITAL
1. COST OF DEBT
a. Direct cost
b. Indirect costs
2. COST OF EQUITY (CAPM)
a. Modern portfolio theory
b. Market risk
c. The equity risk premium
d. Problems with CAPM
3. COST OF EQUITY (DGM)
4. WEIGHTED AVERAGE COST OF CAPITAL
a. Overall cost of capital
b. Adjusting WACC for risk
c. Asset betas
12. CAPITAL STRUCTURE
1. GEARING
a. How financial gearing works
b. Gearing and WACC
2. DEBT VERSUS EQUITY
a. Risk and return
b. The pecking order theory
c. Other relevant factors
d. Adjusting capital structure
3. DIVIDEND POLICY
a. Do dividends matter?
b. Taxes on shareholders' returns
c. Choosing a policy
d. Share buy-backs
4. THE CORPORATE LIFE CYCLE
a. Start-up
b. Growth
c. Maturity
d. Decline
13. RESTRUCTURING
1. FORM OF BUSINESS
a. Sole trading
b. Partnerships
c. Limited companies
2. CHANGE OF OWNERSHIP
a. Privatisation
b. Management buy-outs
c. De-mergers and spin-offs
3. FINANCIAL DISTRESS
a. Predicting trouble
b. Being in difficulty
c. Winding-up (liquidation)
14. VALUING COMPANIES
1. DISCOUNTING FUTURE CASH FLOWS
a. The cash flows
b. The discount rate
2. TERMINAL VALUES
a. Horizon period
b. Valuation methods
c. Discounting the terminal value
3. PRICE-EARNINGS MULTIPLES
a. Definitions
b. Using price/earnings multiples.

Po otrzymaniu zamówienia poinformujemy,
czy wybrany tytuł polskojęzyczny lub anglojęzyczny jest aktualnie na półce księgarni.