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.
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This sixth edition of "Basic Financial Management" places more emphasis on valuation and what the capital markets have to say for the financial manager. Featuring the use of Disclosure - a state-of-the-art database software package, the book aims to develop the reader's problem solving skills through working with real data rather than just hypothetical problems. The authors recognise the importance of the financial calculator, greatly increase the integration of ethical and global coverage and provide extensive problem sets to challenge readers and reinforce learning.
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