Part 1 Introduction to Managerial Finance 43
1. The Role of Managerial Finance 44
2. The Financial Market Environment 81

Part 2 Financial Tools 113
3. Financial Statements and Ratio Analysis 114
4. Long-and Short-Term Financial Planning 179
5. Time Value of Money 225

Part 3 Valuation of Securities 285
6. Interest Rates and Bond Valuation 286
7. Stock Valuation 333

Part 4 Risk and the Required Rate of Return 369
8. Risk and Return 370
9. The Cost of Capital 418

Part 5 Long-Term Investment Decisions 447
10. Capital Budgeting Techniques 448
11. Capital Budgeting Cash Flows and Risk Refinements 487

Part 6 Long-Term Financial Decision 547
12. Leverage and Capital Structure 548
13. Payout Policy 600

Part 7 Short-Term Financial Decisions 635
14. Working Capital and Current Assets Management 636
15. Current Liabilities Management 678