LEADER 13877oam 2200601 450 001 9910154783403321 005 20230807204817.0 010 $a1-292-07836-7 035 $a(CKB)2670000000592856 035 $a(MiAaPQ)EBC5174781 035 $a(MiAaPQ)EBC5187290 035 $a(MiAaPQ)EBC5833908 035 $a(MiAaPQ)EBC5137865 035 $a(MiAaPQ)EBC6400325 035 $a(Au-PeEL)EBL5137865 035 $a(OCoLC)1024286336 035 $a(EXLCZ)992670000000592856 100 $a20210429d2015 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 10$aPrinciples of managerial finance $ebrief /$fLawrence J. Gitman, Chad J. Zutter 205 $aSeventh, Global edition. 210 1$aBoston :$cPearson,$d[2015] 210 4$d©2015 215 $a1 online resource (721 pages) $cillustrations (some color), tables 225 1 $aAlways Learning 300 $aIncludes index. 311 $a1-292-06010-7 311 $a1-322-88308-4 327 $aCover -- Dedication -- Brief Contents -- Contents -- About the Authors -- Preface -- Supplements to the Seventh Edition -- Acknowledgments -- Part 1: Introduction to Managerial Finance -- Chapter 1: The Role of Managerial Finance -- 1.1 Finance and Business -- What is Finance? -- Career Opportunities in Finance -- Legal Forms of Business Organization -- Why Study Managerial Finance? -- Review Questions -- 1.2 Goal of the Firm -- Maximize Shareholder Wealth -- Maximize Profit? -- What About Stakeholders? -- The Role of Business Ethics -- Ethics and Share Price -- in practice: Focus on Ethics: Critics See Ethical Dilemmas in Google Glass? -- Review Questions -- 1.3 Managerial Finance Function -- Organization of the Finance Function -- Relationship to Economics -- Relationship to Accounting -- Primary Activities of the Financial Manager -- Review Questions -- 1.4 Governance and Agency -- Corporate Governance -- The Agency Issue -- Review Questions -- Summary -- Focus on Value -- Review of Learning Goals -- Self-Test Problem -- Warm-Up Exercises -- Problems -- Spreadsheet Exercise -- Chapter 2: The Financial Market Environment -- 2.1 Financial Institutions and Markets -- Financial Institutions -- Commercial Banks, Investment Banks, and the Shadow Banking System -- Financial Markets -- The Relationship between Institutions and Markets -- The Money Market -- The Capital Market -- in practice: Focus on Practice: Berkshire Hathaway: Can Buffett Be Replaced? -- Review Questions -- 2.2 The Financial Crisis -- Financial Institutions and Real Estate Finance -- Falling Home Prices and Delinquent Mortgages -- Crisis of Confidence in Banks -- Spillover Effects and the Great Recession -- Review Questions -- 2.3 Regulation of Financial Institutions and Markets -- Regulations Governing Financial Institutions -- Regulations Governing Financial Markets. 327 $aReview Questions -- 2.4 Business Taxes -- Ordinary Income -- Capital Gains -- Review Questions -- Summary -- The Role of Financial Institutions and Markets -- Review of Learning Goals -- Self-Test Problem -- Warm-Up Exercises -- Problems -- Spreadsheet Exercise -- Part 2: Financial Tools -- Chapter 3: Financial Statements and Ratio Analysis -- 3.1 The Stockholders' Report -- The Letter to Stockholders -- The Four Key Financial Statements -- in practice: Focus on Ethics: Taking Earnings Reports at Face Value -- Notes to the Financial Statements -- Consolidating International Financial Statements -- Review Questions -- 3.2 Using Financial Ratios -- Interested Parties -- Types of Ratio Comparisons -- Cautions about Using Ratio Analysis -- Categories of Financial Ratios -- Review Questions -- 3.3 Liquidity Ratios -- Current Ratio -- Quick (Acid-Test) Ratio -- Review Questions -- 3.4 Activity Ratios -- Inventory Turnover -- Average Collection Period -- Average Payment Period -- Total Asset Turnover -- Review Question -- 3.5 Debt Ratios -- Debt Ratio -- Debt-to-Equity Ratio -- Times Interest Earned Ratio -- Fixed-Payment Coverage Ratio -- Review Questions -- 3.6 Profitability Ratios -- Common-Size Income Statements -- Gross Profit Margin -- Operating Profit Margin -- Net Profit Margin -- Earnings Per Share (EPS) -- Return on Total Assets (ROA) -- Return on Equity (ROE) -- Review Questions -- 3.7 Market Ratios -- Price/Earnings (P/E) Ratio -- Market/Book (M/B) Ratio -- Review Question -- 3.8 A Complete Ratio Analysis -- Summarizing All Ratios -- Dupont System of Analysis -- Review Questions -- Summary -- Focus on Value -- Review of Learning Goals -- Self-Test Problems -- Warm-Up Exercises -- Problems -- Spreadsheet Exercise -- Chapter 4: Cash Flow and Financial Planning -- 4.1 Analyzing the Firm's Cash Flow -- Depreciation -- Depreciation Methods. 327 $aDeveloping the Statement of Cash Flows -- Free Cash Flow -- Review Questions -- in practice: Focus on Practice: Free Cash Flow at Cisco Systems -- 4.2 The Financial Planning Process -- Long-Term (Strategic) Financial Plans -- Short-Term (Operating) Financial Plans -- Review Questions -- 4.3 Cash Planning: Cash Budgets -- The Sales Forecast -- Preparing the Cash Budget -- Evaluating the Cash Budget -- Coping with Uncertainty in the Cash Budget -- Cash Flow within the Month -- Review Questions -- 4.4 Profit Planning: Pro Forma Statements -- Preceding Year's Financial Statements -- Sales Forecast -- Review Question -- 4.5 Preparing the Pro Forma Income Statement -- Considering Types of Costs and Expenses -- Review Questions -- 4.6 Preparing the Pro Forma Balance Sheet -- Review Questions -- 4.7 Evaluation of Pro Forma Statements -- Review Questions -- Summary -- Focus on Value -- Review of Learning Goals -- Self-Test Problems -- Warm-Up Exercises -- Problems -- Spreadsheet Exercise -- Chapter 5: Time Value of Money -- 5.1 The Role of Time Value in Finance -- Future Value Versus Present Value -- Computational Tools -- Basic Patterns of Cash Flow -- Review Questions -- 5.2 Single Amounts -- Future Value of a Single Amount -- Present Value of a Single Amount -- Review Questions -- Excel Review Questions -- 5.3 Annuities -- Types of Annuities -- Finding the Future Value of an Ordinary Annuity -- Finding the Present Value of an Ordinary Annuity -- Finding the Future Value of an Annuity Due -- Finding the Present Value of an Annuity Due -- Finding the Present Value of a Perpetuity -- Review Questions -- Excel Review Questions -- 5.4 Mixed Streams -- Future Value of a Mixed Stream -- Present Value of a Mixed Stream -- Review Question -- Excel Review Question -- 5.5 Compounding Interest More Frequently Than Annually -- Semiannual Compounding. 327 $aQuarterly Compounding -- A General Equation for Compounding More Frequently Than Annually -- Using Computational Tools for Compounding More Frequently Than Annually -- Continuous Compounding -- Nominal and Effective Annual Rates of Interest -- Review Questions -- Excel Review Questions -- 5.6 Special Applications of Time Value -- Determining Deposits Needed to Accumulate a Future Sum -- Loan Amortization -- in practice: Focus on Practice: New Century Brings Trouble for Subprime Mortgages -- Finding Interest or Growth Rates -- Finding an Unknown Number of Periods -- Review Questions -- Excel Review Questions -- Summary -- Focus on Value -- Review of Learning Goals -- Self-Test Problems -- Warm-Up Exercises -- Problems -- Spreadsheet Exercise -- Part 3: Valuation of Securities -- Chapter 6: Interest Rates and Bond Valuation -- 6.1 Interest Rates and Required Returns -- Interest Rate Fundamentals -- Term Structure of Interest Rates -- Risk Premiums: Issuer and Issue Characteristics -- Review Questions -- 6.2 Corporate Bonds -- Legal Aspects of Corporate Bonds -- Cost of Bonds to the Issuer -- General Features of a Bond Issue -- Bond Yields -- Bond Prices -- Bond Ratings -- in practice: Focus on Ethics: Can We Trust the Bond Raters? -- Common Types of Bonds -- International Bond Issues -- Review Questions -- 6.3 Valuation Fundamentals -- Key Inputs -- Basic Valuation Model -- Review Questions -- 6.4 Bond Valuation -- Bond Fundamentals -- Basic Bond Valuation -- Bond Value Behavior -- Yield to Maturity (YTM) -- Semiannual Interest and Bond Values -- Review Questions -- Excel Review Questions -- Summary -- Focus on Value -- Review of Learning Goals -- Self-Test Problems -- Warm-Up Exercises -- Problems -- Spreadsheet Exercise -- Chapter 7: Stock Valuation -- 7.1 Differences between Debt and Equity -- Voice in Management -- Claims on Income and Assets. 327 $aMaturity -- Tax Treatment -- Review Question -- 7.2 Common and Preferred Stock -- Common Stock -- Preferred Stock -- Issuing Common Stock -- Review Questions -- 7.3 Common Stock Valuation -- Market Efficiency -- The Efficient-Market Hypothesis -- Basic Common Stock Valuation Equation -- in practice: Focus on Practice: Understanding Human Behavior Helps Us Understand Investor Behavior -- Free Cash Flow Valuation Model -- Other Approaches to Common Stock Valuation -- Review Questions -- 7.4 Decision Making and Common Stock Value -- Changes in Expected Dividends -- Changes in Risk -- Combined Effect -- Review Questions -- Summary -- Focus on Value -- Review of Learning Goals -- Self-Test Problems -- Warm-Up Exercises -- Problems -- Spreadsheet Exercise -- Part 4: Risk and the Required Rate of Return -- Chapter 8: Risk and Return -- 8.1 Risk and Return Fundamentals -- Risk Defined -- in practice: Focus on Ethics: If It Seems Too Good to Be True, It Probably Is -- Return Defined -- Risk Preferences -- Review Questions -- 8.2 Risk of a Single Asset -- Risk Assessment -- Risk Measurement -- Review Questions -- 8.3 Risk of a Portfolio -- Portfolio Return and Standard Deviation -- Correlation -- Diversification -- Correlation, Diversification, Risk, and Return -- International Diversification -- Review Questions -- 8.4 Risk and Return: The Capital Asset Pricing Model (CAPM) -- Types of Risk -- The Model: CAPM -- Review Questions -- Summary -- Focus on Value -- Review of Learning Goals -- Self-Test Problems -- Warm-Up Exercises -- Problems -- Spreadsheet Exercise -- Chapter 9: The Cost of Capital -- 9.1 Overview of the Cost of Capital -- The Basic Concept -- Sources of Long-Term Capital -- Review Questions -- 9.2 Cost of Long-Term Debt -- Net Proceeds -- Before-Tax Cost of Debt -- After-Tax Cost of Debt -- Review Questions -- Excel Review Question. 327 $a9.3 Cost of Preferred Stock. 330 $aFor Introduction to Managerial Finance courses.   Guide students through complex material with a proven learning goal system.  This system - a hallmark feature of Principles of Managerial Finance, Brief-weaves pedagogy into concepts and practice, giving students a roadmap to follow through the 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Go to www.myfinancelab.com to buy access to this interactive study programme.   For educator access, contact your Pearson representative. To find out who your Pearson representative is, visit www.pearsoned.co.uk/replocator. 410 0$aAlways learning. 606 $aCorporations$xFinance 615 0$aCorporations$xFinance. 676 $a658.15 700 $aGitman$b Lawrence J.$0499856 702 $aZutter$b Chad J. 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bUtOrBLW 906 $aBOOK 912 $a9910154783403321 996 $aPrinciples of managerial finance$9740518 997 $aUNINA