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Financial Management Essentials You Always Wanted To Know: 4th Edition

Financial Management Essentials You Always Wanted To Know: 4th Edition

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Financial Management Essentials You Always Wanted To Know: 4th Edition

Lungime:
167 pages
1 hour
Lansat:
Jul 31, 2019
ISBN:
9781949395389
Format:
Carte

Descriere

Financial Management Essentials You Always Wanted To Know: 4th Edition provides new managers and leaders with the foundational concepts of financial management. Having deep knowledge of law, engineering, and other professional disciplines doesn't prepare someone for the key role finance plays in business. This book provides an overview of core financial concepts such as:
• Analysis of financial statements
• Cost of Capital
• Creating a capital budget
• Managing working capital
• Stocks and dividends
• Forecasting

Each chapter provides clear examples of financial management practice and includes practice exercises to help train the reader in the usage of these critical tools. This edition also includes Chapter Summaries and Solutions to Practice Exercises. This book is part of the Self-Learning Management Series that helps working professionals moving into management roles.

About the Series
Financial Management Essentials You Always Wanted To Know: 4th Edition is part of the Self-Learning Management Series that helps working professionals moving into management roles. This Self Learning Management Series intends to give a jump start to working professionals, whose job roles demand to have the knowledge imparted in a B-school but haven’t got a chance to visit one. This series is designed to address every aspect of business from HR to Finance to Marketing to Operations, be it any industry. Each book includes basic fundamentals, important concepts, standard and well-known principles as well as practical ways of application of the subject matter. The distinctiveness of the series lies in that all the relevant information is bundled in a compact form that is very easy to interpret.

About the Author
Kalpesh Ashar is a management consultant and corporate trainer holding an MBA (Dean's Award Winner) from SPJIMR, one of Asia's top business schools, and an Engineering degree with honours in Electronics. He has over 21 years of experience in large organizations and start-ups in Asia, USA, and Europe.
Kalpesh has worked in several project management roles, like Senior Project Manager, Delivery Manager, and Program Manager. He is passionate about writing on management subjects. His techno-business background gives him a unique position to write on management topics that are easy to understand for non-MBA graduates. His books are authored in a simple to understand manner without unnecessary use of management jargons.

About Vibrant Publishers
Vibrant Publishers is focused on presenting the best texts for learning about technology and business as well as books for test preparation. Categories include programming, operating systems and other texts focused on IT. In addition, a series of books helps professionals in their own disciplines learn the business skills needed in their professional growth.
Vibrant Publishers has a standardized test preparation series covering the GMAT, GRE and SAT, providing ample study and practice material in a simple and well organized format, helping students get closer to their dream universities.

Lansat:
Jul 31, 2019
ISBN:
9781949395389
Format:
Carte

Despre autor

Kalpesh Ashar is a management consultant and corporate trainer holding an MBA (Dean’s Award Winner) from SPJIMR, one of Asia’s top business schools, and an Engineering degree with honors in Electronics. He has over 21 years of experience in large organizations and start-ups in Asia, USA, and Europe.Kalpesh has worked in several project management roles, like Senior Project Manager, Delivery Manager, and Program Manager. He is passionate about writing on management subjects. His techno-business background gives him a unique position to write on management topics that are easy to understand for non-MBA graduates. His books are authored in a simple to understand manner without unnecessary use of management jargons.

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Financial Management Essentials You Always Wanted To Know - Kalpesh Ashar

Financial Management Essentials You Always Wanted To Know: 4th Edition

Financial Management concepts simplified

Fundamentals explained for business professionals and non-finance graduates

Important standard principles covered

Solved exercises and practice questions

Self-Learning Management Series

www.vibrantpublishers.com

*****

Financial Management Essentials You Always Wanted To Know: 4th Edition

Published by Vibrant Publishers at Smashwords

Copyright 2019 Vibrant Publishers, USA.

Smashwords Edition, License Notes

This ebook is licensed for your personal use only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author.

This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. The author has made every effort in the preparation of this book to ensure the accuracy of the information. However, information in this book is sold without warranty either expressed or implied. The Author or the Publisher will not be liable for any damages caused or alleged to be caused either directly or indirectly by this book.

Vibrant Publishers books are available at special quantity discount for sales promotions, or for use in corporate training programs. For more information please write to bulkorders@vibrantpublishers.com

Please email feedback / corrections (technical, grammatical or spelling) to spellerrors@vibrantpublishers.com

To access the complete catalogue of Vibrant Publishers, visit www.vibrantpublishers.com

*****

Exciting new resources for readers

Thank you for an overwhelming response to Financial Management Essentials You Always Wanted To Know. We are committed to publishing books that are content-rich, concise and approachable enabling more readers to read and make the fullest use of them. We are excited to announce two major add-ons in this new edition of the book.

a) A Chapter Summary is added at the end of every chapter. This will help to get a quick access point of what was covered in the chapter. It also assists in identifying the important information after reading through the entire chapter.

b) This updated edition includes detailed and self-explanatory solutions to unsolved examples in Practice Exercises. You may download the solutions at www.vibrantpublishers/onlineresources

Should you have any questions or suggestions, feel free to email us at reachus@vibrantpublishers.com

We hope this book provides you the most enriching learning experience.

THIS BOOK IS AVAILABLE IN E-BOOK, PAPERBACK(B/W) AND PAPERBACK (COLOR) FORMAT.

*****

List of Books in Self-Learning Management Series

Some of the following titles might also be handy:

1. Cost Accounting and Management Essentials You Always Wanted To Know (ISBN: 978-1-949395-35-8)

2. Financial Management Essentials You Always Wanted To Know (ISBN: 978-1-949395-37-2)

3. Financial Accounting Essentials You Always Wanted To Know (ISBN: 978-1-949395-32-7)

4. Project Management Essentials You Always Wanted To Know ISBN: (978-1-946383-60-0)

5. Principles of Management Essentials You Always Wanted To Know (ISBN: 978-1-946383-93-8)

6. Business Strategy Essentials You Always Wanted To Know (ISBN: 978-1-946383-98-3)

7. Marketing Management Essentials You Always Wanted To Know (ISBN: 978-1-949395-04-4)

For the most updated list of books visit

www.vibrantpublishers.com

*****

About the Author

Kalpesh Ashar is a management consultant and corporate trainer holding an MBA (Dean's Award Winner) from SPJIMR, one of Asia's top business schools, and an Engineering degree with honors in Electronics. He has over 21 years of experience in large organizations and start-ups in Asia, USA, and Europe. Kalpesh has worked in several project management roles, like Senior Project Manager, Delivery Manager, and Program Manager. He is passionate about writing on management subjects. His techno-business background gives him a unique position to write on management topics that are easy to understand for non-MBA graduates. His books are authored in a simple to understand manner without unnecessary use of management jargons.

Other contributors

We would like to whole-heartedly thank Dr. Mark Koscinski for contributing text on Commercial Loans in Chapter 5, Working Capital Management. Dr. Mark Koscinski CPA D.Litt. is an assistant professor of accounting practice at Moravian College in Bethlehem, Pennsylvania where he teaches a wide variety of accounting and management courses. Prior to joining Moravian College, Mark had significant experience in public and private accounting. He has been the chief financial officer of a publicly traded defense contractor and a privately held toy company.

We would also like to sincerely thank Brodie Schultz for providing solutions to all the practice exercises that were unsolved till the previous editions of this book. Brodie is a young aspiring engineer currently divulging in the areas of marketing, financial management, and innovative manufacturing processes at Ford Motor Company and has received his Masters of Business Administration and Bachelor of Science in Mechanical Engineering. Brodie is also an active board member for his local Penn State Alumni Association Chapter, an avid cook, fisherman, and golfer.

*****

Table of Contents

1. Introduction to Financial Management

2. Financial Statement Analysis

Ratio Analysis

DuPont Framework

Benchmarking

Limitation of Financial Ratios

Common-size Financial Statements

Solved Examples

Practice Exercise

Chapter Summary

3. Cost of Capital

Cost of Debt (ka)

Cost of Preferred Stock (kp)

Cost of Retained Earnings (ks)

Cost of New Common Stock (ke)

Weighted Average Cost of Capital (WACC)

Solved Examples

Practice Exercise

Chapter Summary

4. Capital Budgeting

Free Cash Flow

Timing of Cash Flow

Estimating Cash Flows over Life of Project

Payback Period

Discounted Payback Period

Net Present Value (NPV)

Internal Rate of Return (IRR)

Modified Internal Rate of Return (MIRR)

Usage of Capital Budgeting Methods

Solved Examples

Practice Exercise

Chapter Summary

5. Working Capital Management

Cash Conversion Cycle

Current Asset Investment Policies

Current Asset Financing Approaches

Short-Term Financing Options

Solved Examples

Practice Exercise

Chapter Summary

6. Capital Structure

Debt

Optimal Capital Structure

Capital Structure Theories

Solved Examples

Practice Exercise

Chapter Summary

7. Distribution to Shareholders

Factors in setting Dividend Distribution Policy

Residual Dividend Model

Dividend Payment Procedures

Dividend Reinvestment Plan (DRIP)

Stock Splits and Stock Dividends

Stock Repurchases

Solved Examples

Practice Exercise

Chapter Summary

8. Forecasting Financial Statements

Step 1 – Forecast Sales

Step 2 – Forecast Income Statement

Step 3 – Forecast Balance Sheet – 1st Pass

Step 4 – Raising Additional Funds Needed (AFN)

Step 5 – Forecast Balance Sheet – 2nd Pass

AFN Formula

Solved Examples

Practice Exercise

Chapter Summary

Glossary

*****

Introduction to Financial Management

Financial Management is a field of finance that uses a company’s financial information to make decisions. The diagram below shows the steps in the analysis of financial information.

Financial Accounting is a field that deals with the preparation of financial statements (refer the book Financial Accounting Essentials You Always Wanted to Know of this series).

Financial Management uses this information to first analyze the company’s health and then to take appropriate decisions.

Consider, for example, the Balance Sheet and Income Statement of two companies as below:

From the above financial statements, it is evident that both the companies have the same Net Income ($12 million). Following questions arise:

a) As a banker, is this information enough to extend a loan to both the companies?

b) As an investor, Is this a good return on investment?

c) As a manager, are these returns the best in the industry?

Just by looking at the individual numbers in the financial statements it is not possible to answer the above questions. In order to answer them one needs to do

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