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Analysis for Financial Management

Analysis for Financial Management - 7th edition

Analysis for Financial Management - 7th edition

ISBN13: 9780072863642

ISBN10: 0072863641

Analysis for Financial Management by Robert C. Higgins - ISBN 9780072863642
Edition: 7TH 04
Copyright: 2004
Publisher: Richard D. Irwin, Inc.
Published:
International: No
Analysis for Financial Management by Robert C. Higgins - ISBN 9780072863642

ISBN13: 9780072863642

ISBN10: 0072863641

Edition: 7TH 04

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Summary

Analysis of Financial Management 7e is a paperback text and has been written to present standard techniques and modern developments in a practical and intuitive manner. It is intended for non-financial managers and business students interested in the practice of financial management. Emphasis is on the managerial applications of financial analysis.

New to This Edition

  • Enhanced coverage of venture capital and private equity in response to reviewer feedback, including a new appendix to Chapter 9 on the venture capital method of valuation. This enhances Analysis of Financial Management's suitability for entrepreneurial finance courses.
  • Expanded coverage of estimating beta, including use of asset betas, in appendix to Chapter 8 to enhance readers' skills in estimating company betas.
  • Standard and Poor's problems appear in 7 out of 9 chapters in end of chapter questions. These problems require the use of the Educational Version of Market Insight, taking advantage of Standard & Poor's powerful and well-known Compustat database. These problems provide instructors with an easy online way to incorporate current, real world date into the classroom. Access to this rich online resource is FREE with every new copy of the text.
  • Updated annotated website references at the end of each chapter explain where financial information can be found while providing quick access of additional material.
  • Thorough updating reflecting the latest theory and real world applications. Virtually all charts, graphs, tables, and examples in chapters 1, 2, and 4. Significant changes in chapters 8 and 9. To capture current performance of US companies and the US economy.
  • Greater emphasis on simulation, including a financial planning exercise using complimentary modeling software from Crystal Ball.
  • Discussion of observed differences in capital structure across countries.
  • An assessment of the strengths and weaknesses of the internal rate of return as an acceptance criterion in capital budgeting.
  • Greater emphasis on the importance of business strategy for company financing choices and on the irrelevance proposition as a foundation for capital structure decisions.
  • Expanded coverage of capital intensity and its effect on breakeven sales.
  • The removal of answers to even-numbered problems, enabling instructors to use these problems for homework or class discussion. (Suggested answers to even-numbered problems are available to instructors in a password-protected section on book Website.)
  • Expanded Trim size with New Design make the book more appealing.

Features

  • Ametek, Inc., a billion-dollar manufacturer of electronic instruments and motors is used as the extended example that appears in chapters 1, 2, 4, 8, and 9. Ametek's financial statements are sufficiently straightforward that novices can make sense of them. Yet the company illustrates many of the challenges facing companies today including achieving growth through acquisitions and responding to investor demands for greater transparency in financial reporting.
  • Appendix 5A, "Using Financial Markets to Manage Corporate Risks," is very easy for students to understand because the presentation is clear and concise.
  • A heavy reliance on presenting the practical implications of modern concepts such as market efficiency, beta risk, and market signaling.
  • Data on realized returns on securities, industry ratios, median rations by S&P rating category, etc. is incorporated throughout.
  • A clear and simple presentation of sustainable growth. Higgins continues to receive much praise for this.
  • Extended discussion of the statement of cash flows. This discussion is very thorough and uses good, objective data to illustrate key points.
  • Significant International examples dispersed throughout the text and imbedded in selected appendices, especially Appendix 2A, International Differences in Capital Structure.
  • Engaging and highly interesting writing style, a true hallmark of this text.
  • McGraw-Hill's Knowledge Gateway--The Complete Resource for Teaching Online Courses. McGraw-Hill/Irwin, in partnership with Eduprise, is proud to bring this unique service to instructors. This comprehensive Website contains a wealth of information for any professor interested in teaching online. Level one is available to any instructor browsing our Website. Level two is reserved for McGraw-Hill customers and contains access to free technical and instructional design assistance. For more details, visit http://mhhe.eduprise.com/home.nsf
  • PageOut is McGraw-Hill's unique point-and click course Website tool, enabling you to create a full-featured, professional quality course Website without knowing HTML coding. With PageOut you can post your syllabus online, assign McGraw-Hill Online Learning Center or eBook content, add links to important off-site resources, and maintain student results in the online grade book. You can send class announcements, copy your course site to share with colleagues, and upload original files. PageOut is free for every McGraw-Hill/Irwin user and, if you're short on time, we even have a team ready to help you create your site!
  • You can customize this text with McGraw-Hill/Primis Online. A digital database offers you the flexibility to customize your course including material from the largest online collection of textbooks, readings, and cases. Primis leads the way in customized eBooks with hundreds of titles available at prices that save your students over 20% off bookstore prices. Additional information is available at 800-228-0634.
  • PowerWeb. This online reservoir of discipline-specific news articles and essays offer a great way to keep your course current, while complementing textbook concepts with real-world applications. Articles and essays from leading periodicals and niche publications in specific disciplines are reviewed by professors like you to ensure fruitful search results every time. PowerWeb also offers current news, weekly updates with assessment, interactive exercises, Web research guide, study tips, and much more! http://www.dushkin.com/powerweb.
  • Standard & Poor's Educational Version of Market Insight. McGraw-Hill/Irwin is proud to partner with Standard & Poor's to offer access to the Educational Version of Standard & Poor's Market Insight(c). This rich online resource provides six years of financial data for 100 top US companies. The password-protected Website is the perfect way to bring real data into today's classroom. This is free with selected McGraw-Hill titles, and is available for an extra $10 with additional titles. Contact your rep for more information or visit www.mhhe.com/edumarketinsight

Author Bio

Higgins, Robert C. : University of Washington

Table of Contents

Table of Contents

Part I: Assessing the Financial Health of the Firm

Chapter 1: Interpreting Financial Statements
Chapter 2: Evaluating Financial Performance

Appendix: International Differences in Financial Structure

Part II: Planning Future Financial Performance

Chapter 3: Financial Forecasting
Chapter 4: Managing Growth

Part III: Financing Operations

Chapter 5: Financial Instruments and Markets

Appendix: Forward Contracts, Options, and the Management of Corporate Risks

Chapter 6: The Financing Decision

Appendix: The Irrelevance Proposition

Part IV: Evaluating investment Opportunities

Chapter 7: Discounted Cash Flow Techniques

Appendix Mutually Exclusive Alternatives and Capital Rationing

Chapter 8: Risk Analysis in Investment Decisions

Appendix: Diversification and ß-Risk

Chapter 9: Business Valuation and Corporate Restructuring

Appendix: The Venture Capital Method of Valuation

Glossary
Suggested Answers to Odd-Numbered End-of-Chapter Problems