Average Reviews:
(More customer reviews)I bought an earlier version of this book many years ago and just bought the latest edition to replace the first copy that was loaned out and never returned. It's one of those books that you constantly go back to to confirm what you are doing. The book is well written, concise and covers material in a number of college level finanical courses. For the general Accountant, it is a learning tool and for the experienced Financial Analyst, an excellent reference.
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This text emphasizes the financial concepts and tools that are essential for understanding fundamental business decisions taking the stance that business can be viewed as dynamic, integrated system of funds flows which are activated by management decision. The subjects are related to the business systems concept, with creation of shareholder value seen as the ultimate goal of investment, operating and financial decisions. The illustrative examples given are based on a single company in the early chapters, so that the results of the analytical techniques build into a complete picture. This edition places emphasis on modern topics like shareholder valve creation, leasing versus owning, cash flow analysis and economic trade-offs.
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