Analysis for Financial Management ISE

Höfundur: HIGGINS (Útgáfa: 14)
Analysis for Financial Management ISE

Kaup valmöguleikar

Analysis for Financial Management is designed for non-financial executives and business students who want a practical, intuitive introduction to financial management. Requiring only basic familiarity with financial statements, it emphasizes the managerial implications of financial analysis. Ideal for sharpening managerial skills, it is widely used in Executive MBA programs, applied finance courses, and as a companion or supplementary text in university classrooms.

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Útgefandi
McGraw-Hill Higher Education (International)
ISBN
9781265445218
Print ISBN
9781264654369
Format
ePub
Útgáfa
14
Höfundar
HIGGINS
Tungumál
English
Útgefið
2026-01-13
Prent takmörkun á líftíma
100
Prent takmörkun
2
Afritunar takmörkun
2

Kaflar

  • Table of Contents and Preface
  • Cover
  • Half Title Page
  • The McGraw-Hill Education Series
  • Title Page
  • Copyright Page
  • Dedication
  • Brief Contents
  • Contents
  • Preface
  • Changes in the 2026 Release
  • McGraw Hill’s Connect (connect.mheducation.com)
  • Proctorio: Remote Proctoring & Browser-Locking Capabilities
  • ReadAnywhere
  • Connect
  • OLC-Aligned Courses: Implementing High-Quality Online Instruction and Assessment through Preconfigured Courseware
  • Tegrity: Lectures 24/7
  • Test Builder in Connect
  • Create: Your Book, Your Way
  • Chapter One: Interpreting Financial Statements
  • Introduction
  • Interpreting Financial Statements
  • The Cash Flow Cycle
  • Overview of Financial Statements
  • The Balance Sheet
  • Current Assets and Liabilities
  • Shareholders’ Equity
  • The Income Statement
  • Measuring Earnings
  • Sources and Uses Statements
  • The Two-Finger Approach
  • The Cash Flow Statement
  • Financial Statements and the Value Problem
  • Market Value vs. Book Value
  • Economic Income vs. Accounting Income
  • Imputed Costs
  • Summary
  • Additional Resources
  • Problems
  • Chapter Two: Evaluating Financial Performance
  • Introduction
  • The Levers of Financial Performance
  • Return on Equity
  • The Three Determinants of ROE
  • The Profit Margin
  • Asset Turnover
  • Financial Leverage
  • Is ROE a Reliable Financial Yardstick?
  • The Timing Problem
  • The Risk Problem
  • The Value Problem
  • ROE or Market Price?
  • Ratio Analysis
  • Using Ratios Effectively
  • Ratio Analysis of Snap-on, Inc.
  • Summary
  • Additional Resources
  • Problems
  • Chapter Three: Financial Forecasting
  • Introduction
  • Financial Forecasting
  • Pro Forma Statements
  • Percent-of-Sales Forecasting
  • Interest Expense
  • Seasonality
  • Pro Forma Statements and Financial Planning
  • Forecasting with Spreadsheets
  • Coping with Uncertainty
  • Sensitivity Analysis
  • Scenario Analysis
  • Simulation
  • Cash Flow Forecasts
  • Cash Budgets
  • The Techniques Compared
  • Summary
  • Additional Resources
  • Problems
  • Chapter Four: Managing Growth
  • Introduction
  • Sustainable Growth
  • The Sustainable Growth Equation
  • Too Much Growth
  • Balanced Growth
  • Globant’s Sustainable Growth Rate
  • “What If” Questions
  • What to Do When Actual Growth Exceeds Sustainable Growth
  • Sell New Equity
  • Increase Leverage
  • Reduce the Payout Ratio
  • Profitable Pruning
  • Outsourcing
  • Pricing
  • Is Merger the Answer?
  • Too Little Growth
  • What to Do When Sustainable Growth Exceeds Actual Growth
  • Ignore the Problem
  • Return the Money to Shareholders
  • Buy Growth
  • Sustainable Growth and Pro Forma Forecasts
  • New Equity Financing
  • Why Don’t U.S. Corporations Issue More Equity?
  • Summary
  • Additional Resources
  • Problems
  • Chapter Five: Financial Instruments and Markets
  • Introduction
  • Financial Instruments and Markets
  • Financial Instruments
  • Bonds
  • Common Stock
  • Preferred Stock
  • Financial Markets
  • Venture Capital Financing
  • Private Equity
  • Initial Public Offerings
  • Seasoned Issues
  • Issue Costs
  • Efficient Markets
  • What Is an Efficient Market?
  • Implications of Efficiency
  • Appendix: Using Derivatives to Manage Risks
  • Forward Markets
  • Hedging with Forward Contracts
  • Hedging with Futures Contracts
  • Types of Forwards and Futures
  • Hedging with Swaps
  • Interest Rate Swaps
  • Currency Swaps
  • Hedging with Options
  • Limitations of Financial Market Hedging
  • Valuing Options
  • Summary
  • Additional Resources
  • Problems
  • Chapter Six: The Financing Decision
  • Introduction
  • Financial Leverage
  • Measuring the Effects of Leverage on a Business
  • Leverage and Risk
  • Leverage and Earnings
  • How Much to Borrow
  • Irrelevance
  • Tax Benefits
  • Distress Costs
  • Flexibility
  • Market Signaling
  • Management Incentives
  • The Financing Decision and Growth
  • Selecting a Maturity Structure
  • Inflation and Financing Strategy
  • Appendix: The Irrelevance Proposition
  • No Taxes
  • Taxes
  • Summary
  • Additional Resources
  • Problems
  • Chapter Seven: Discounted Cash Flow Techniques
  • Introduction
  • Discounted Cash Flow Techniques
  • Figures of Merit
  • The Payback Period and the Accounting Rate of Return
  • The Time Value of Money
  • Equivalence
  • The Net Present Value
  • The Benefit-Cost Ratio
  • The Internal Rate of Return
  • Uneven Cash Flows
  • A Few Applications and Extensions
  • Mutually Exclusive Alternatives and Capital Rationing
  • The IRR in Perspective
  • Determining the Relevant Cash Flows
  • Depreciation
  • Working Capital and Spontaneous Sources
  • Sunk Costs
  • Allocated Costs
  • Cannibalization
  • Excess Capacity
  • Financing Costs
  • Appendix: Mutually Exclusive Alternatives and Capital Rationing
  • What Happened to the Other $578,000?
  • Unequal Lives
  • Capital Rationing
  • The Problem of Future Opportunities
  • A Decision Tree
  • Summary
  • Additional Resources
  • Financial Calculator Apps
  • Problems
  • Chapter Eight: Risk Analysis in Investment Decisions
  • Introduction
  • Risk Defined
  • Risk and Diversification
  • Estimating Investment Risk
  • Three Techniques for Estimating Investment Risk
  • Including Risk in Investment Evaluation
  • Risk-Adjusted Discount Rates
  • The Cost of Capital
  • The Cost of Capital Defined
  • The Cost of Capital for Snap-on
  • The Cost of Capital in Investment Appraisal
  • Multiple Hurdle Rates
  • Four Pitfalls in the Use of Discounted Cash Flow Techniques
  • The Enterprise Perspective vs. the Equity Perspective
  • Inflation
  • Real Options
  • Excessive Risk Adjustment
  • A Cautionary Note
  • Appendix: Asset Beta and Adjusted Present Value
  • Calculating Asset Beta
  • Using Asset Beta to Estimate Equity Beta
  • Asset Beta and Adjusted Present Value
  • Summary
  • Additional Resources
  • Problems
  • Chapter Nine: Business Valuation and Corporate Restructuring
  • Introduction
  • Valuing a Business
  • Assets or Equity?
  • Dead or Alive?
  • Minority Interest or Control?
  • Discounted Cash Flow Valuation
  • Free Cash Flow
  • The Terminal Value
  • A Numerical Example
  • Problems with Present Value Approaches to Valuation
  • Valuation Based on Comparable Trades
  • Lack of Marketability
  • The Market for Control
  • The Premium for Control
  • Financial Reasons for Restructuring
  • The Empirical Evidence
  • The Splunk Buyout
  • Appendix: The Venture Capital Method of Valuation
  • The Venture Capital Method—One Financing Round
  • The Venture Capital Method—Multiple Financing Rounds
  • Why Do Venture Capitalists Demand Such High Returns?
  • Summary
  • Additional Resources
  • Problems
  • Glossary
  • Glossary
  • A
  • B
  • C
  • D
  • E
  • F
  • G
  • H
  • I
  • J
  • L
  • M
  • N
  • O
  • P
  • Q
  • R
  • S
  • T
  • U
  • V
  • W
  • Y
  • Suggested Answers to Odd-Numbered Problems
  • Suggested Answers to Odd-Numbered Problems
  • Chapter 1
  • Chapter 2
  • Chapter 3
  • Chapter 4
  • Chapter 5
  • Chapter 6
  • Chapter 7
  • Chapter 8
  • Chapter 9
  • Index
  • Index
  • A
  • B
  • C
  • D
  • E
  • F
  • G
  • H
  • I
  • J
  • K
  • L
  • M
  • N
  • O
  • P
  • Q
  • R
  • S
  • T
  • U
  • V
  • W
  • X
  • Y
  • Z
  • Accessibility Content: Extended Description for Images
  • Figure 1.1 Extended Description (Chapter 1)
  • Figure 1.2 Extended Description (Chapter 1)
  • Cash Conversion Cycles Extended Description (Chapter 2)
  • Figure 2.1 Extended Description (Chapter 2)
  • Figure 2.2 Extended Description (Chapter 2)
  • Figure 3.1 Extended Description (Chapter 3)
  • Financial Pro Forma Spreadsheet For R and E Supplies Extended Description (Chapter 3)
  • Figure 4.1 Extended Description (Chapter 4)
  • Figure 4.2 Extended Description (Chapter 4)
  • Figure 4.3 Extended Description (Chapter 4)
  • Figure 4.4 Extended Description (Chapter 4)
  • Figure 4.5 Extended Description (Chapter 4)
  • Figure 4.6 Extended Description (Chapter 4)
  • Figure 5.1 Extended Description (Chapter 5)
  • Figure 5.2 Extended Description (Chapter 5)
  • Figure 5.3 Extended Description (Chapter 5)
  • Figure 5A.1 Extended Description (Chapter 5)
  • Figure 6.1 Extended Description (Chapter 6)
  • Figure 6.2 Extended Description (Chapter 6)
  • Figure 6.3 Extended Description (Chapter 6)
  • Figure 7.1 Extended Description (Chapter 7)
  • Single-Period Compounding and Two-Period Compounding Extended Description (Chapter 7)
  • Single-Period Discounting and Two-Period Discounting Extended Description (Chapter 7)
  • Diagram Showing the Variables Extended Description (Chapter 7)
  • Inputs and Output for Calculating a Present Value Extended Description (Chapter 7)
  • Inputs and Output for Calculating a Future Value Extended Description (Chapter 7)
  • Present Value Calculation Extended Description (Chapter 7)
  • The Net Present Value Extended Description (Chapter 7)
  • Two Cash Flow Diagrams Extended Description (Chapter 7)
  • The Internal Rate of Return - 1 Extended Description (Chapter 7)
  • The Internal Rate of Return - 2 Extended Description (Chapter 7)
  • Figure 7.2 Extended Description (Chapter 7)
  • Rate Calculation Using a Spreadsheet Extended Description (Chapter 7)
  • Uneven Cash Flows Extended Description (Chapter 7)
  • Table 7.3 Extended Description (Chapter 7)
  • Calculating the present value Extended Description (Chapter 7)
  • Bond Valuation Extended Description (Chapter 7)
  • The IRR of a Perpetuity Extended Description (Chapter 7)
  • Equivalent Annual Cost Extended Description (Chapter 7)
  • Figure 7A.1 Extended Description (Chapter 7)
  • Unequal Lives-1 Extended Description (Chapter 7)
  • Unequal Lives-2 Extended Description (Chapter 7)
  • Cash Flow Diagrams Extended Description (Chapter 7)
  • Two Present Value Calculations Extended Description (Chapter 7)
  • Present Value Calculation Extended Description (Chapter 7)
  • Wooden Bridge Extended Description (Chapter 7)
  • Steel Bridge Extended Description (Chapter 7)
  • Figure 7A.2 Extended Description (Chapter 7)
  • Figure 8.1 Extended Description (Chapter 8)
  • Figure 8.2 Extended Description (Chapter 8)
  • Figure 8.3 Extended Description (Chapter 8)
  • Figure 8.4 Extended Description (Chapter 8)
  • Figure 8.5 Extended Description (Chapter 8)
  • The Equity Perspective Extended Description (Chapter 8)
  • Decision Tree Shows Investment Extended Description (Chapter 8)
  • Decision Tree Shows Investment Options Extended Description (Chapter 8)
  • Figure 9.1 Extended Description (Chapter 9)
  • Figure 9.2 Extended Description (Chapter 9)
  • A Book Cover Titled, Analysis for Financial Management Extended Description (Chapter FM)
  • Inputs and Output for Calculating a Present Value Extended Description (Suggested Answers to Odd-Numbered Problems)
  • Tree Diagram Extended Description (Suggested Answers to Odd-Numbered Problems)
  • Tree Diagram Extended Description (Suggested Answers to Odd-Numbered Problems)