Basic Financial Management

This text balances a conceptual understanding of the material with rigour in building an understanding of the financial decision-making process, rather than just an introduction to the tools and techniques. Building the presentation around the 10 Axioms of Finance as an intuitive framework for understanding 'the big picture', the text provides a cohesive and enduring understanding of the tools of modern theory while developing the logic behind their use. Concludes each chapter with a section on 'How Financial Managers Use This Material'; that ties the chapter material to students' future job setting and to real world companies. Features unique treatment of Value Based Management - VBM - the set of management tools designed to help firms manage their operations in such a way as to enhance shareholder value. Integrates examples of international finance throughout. Focuses on the creation of wealth. Emphasizes actual business practices throughout - to demonstrate both the relevance of topics discussed and the implementation of theory. Weaves coverage of international finance throughout the text and includes an optional full chapter that deals directly with the topic.