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Follow the Lasher stream to success! Written with students like you in mind, PRACTICAL FINANCIAL MANAGEMENT is filled with relevant, practical, and easy-to-understand information that covers all of the financial management topics you need to succeed in this course. Author William R. Lasher is not only a top-notch teacher; he's also a former CFO who created a text that allows you to "sit in" on intriguing descriptions of the conflicts that financial managers face every day -- including the hidden agendas and biases that decision makers may bring to the analysis of financial proposals.
E-Book Content
P RACTICAL F INANCIAL M ANAGEMENT fifth edition
WILLIAM R. LASHER Nichols College
Practical Financial Management, Fifth Edition William R. Lasher
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For the lights of my life, Donna and our Amanda Noel
B
Part 1
C
RIEF
Introduction to Financial Management, 1 CHAPTER 1 CHAPTER 2 CHAPTER 3 CHAPTER 4 CHAPTER 5
Part 2
6 7 8 9
Time Value of Money, 221 The Valuation and Characteristics of Bonds, 270 The Valuation and Characteristics of Stock, 328 Risk and Return, 369
Business Investment Decisions—Capital Budgeting, 419 CHAPTER CHAPTER CHAPTER CHAPTER
Part 4
Foundations, 1 Financial Background: A Review of Accounting, Financial Statements, and Taxes, 24 Cash Flows and Financial Analysis, 63 Financial Planning, 116 The Financial System, Corporate Governance, and Interest, 168
Discounted Cash Flow and the Value of Securities, 219 CHAPTER CHAPTER CHAPTER CHAPTER
Part 3
ONTENTS
10 11 12 13
Capital Budgeting, 421 Cash Flow Estimation, 457 Risk Topics and Real Options in Capital Budgeting, 484 Cost of Capital, 514
Long-Term Financing Issues, 547 CHAPTER 14 Capital Structure and Leverage, 549 CHAPTER 15 Dividends, 599
Par