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An introduction to financial managment; the role of financial markets and interest rates in financial management; evaluating financial performance; financial forecasting, planning and budgeting; mathematics of finance, risk and rates of return; bond valuation; stock valuation; capital budgeting; techniques; cash flows and other topics in capital budgeting; capital budgeting and risk analysis; cost of capital; analysis and impact of leverage; planning the firm's financing mix; dividend policy and internal financing; introduction to working capital; cash and marketable securities management; accounts; receivable, inventory, and total quality managment; short and intermediate term financing; using futures, options and currency swaps to reduce risk; corporate restructuring; combinations and divestitures; international business finance.

This text provides an introduction to financial decision-making that is rooted both in current financial theory and world economic conditions. It presents ten basic principles (or axioms) of finance in the opening chapter and weaves these concepts throughout the book. The student is presented with a cohesive, interrelated subject from which future, as yet unknown problems can be approached. The authors' goal is to provide an understanding of the basic tools and fundamental principles upon which finance is based. This edition shifts coverage of organizational form and taxes to Chapter 1 to present the tax environment early, with its discussion limited to tax questions that will affect financial decision making and expands treatment of risk and rates of return and the concepts of bond and stock valuation.