Fundamentals of financial planning 5th edition pdf free download

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Fundamentals of Corporate Finance's applied perspective cements students' understanding of the modern-day core principles by equipping students with a problem-solving methodology and profiling real-life financial management practices--all within a clear valuation framework. Corporate Finance, 4th Edition blends coverage of time-tested principles and the latest advancements with the practical perspective of the financial manager, so students have the knowledge and tools they need to make sound financial decisions in their careers.

For courses in International Finance. Because the job of a manager is to make financial decisions that increase firm value, the authors have embedded real-world mini-cases throughout to apply chapter concepts to the types of situations managers of multinational firms face. With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf available as a free download , available online and also via the iPad and Android apps.

Brealey, Fundamentals of Corporate Finance 10e is an introduction to corporate finance that focuses on how companies invest in real assets, how they raise the money to pay for the investments, and how those assets ultimately affect the value of the firm. The new edition provides a broad overview of the financial landscape. It also gives students a framework for systematically thinking about most of the important financial problems that both firms and individuals are likely to confront.

Global Corporate Finance, 3rd edition written by a son-father team, introduces students and practitioners to principles essential to the understanding of global financial problems and the policies that global business managers contend with. The objective of this book is to equip current and future business leaders with the tools they need to interpret the issues, to make sound global financial decisions, and to manage the wide variety of risks that modern businesses face in a competitive global environment.

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Updated ABLE account information based on final regulations released in This is just to name a few! Many more significant updates are included in the 7th edition! This is an essential text that puts fundamental academics into a real -life context to help ensure that concepts and best practices are comprehended, retained and ready for deployment. Author Spotlight Michael A. Yes, I would like to add the eBook. No, I do not want the eBook.

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Where fundamental financial science and theory merge with real life. Here are all the essential basics of financial planning woven into the realities of working with real clients and building a successful practice.

Inside are seven different ways to analyze a client situation, then how to best communicate and work with clients in their best interests. Using real data and relevant case examples, Fundamentals of Financial Planning takes you logically through the process of client behavior, motivation and risk management, education funding and investment management, and the critical influence of time on the value of money.

This is an essential text that puts fundamental academics into a real life context to help ensure that concepts and best practices are comprehended, retained and ready for deployment. However, this viewpoint does a disservice to the cost accountant, who can use a broad array of methods to provide a great deal of additional information to management.

In many respects, cost accounting is the only truly value-added activity in the accounting department, because it yields many insights that management can use to pursue the most profitable products, streamline expensive operations, and reallocate resources.

The cost accountant has an ongoing responsibility to calculate the cost of ending inventory. Valuing inventory is not a simple calculation. It is the culmination of a complicated series of steps that involve having a high level of inventory record accuracy which may require counting the inventory , correctly using an inventory layering method see the Inventory Valuation chapter , accounting for any obsolete inventory, and adjusting inventory costs as necessary.

There are a vast number of transactions that impact inventory valuation, so the cost accountant will likely spend a large amount of time investigating problems and updating recordation systems to improve the quality of information. Once he gains a working knowledge of how to deal with the intricacies of inventory valuation, he can move on to the other topics addressed in the remainder of this chapter.

There are also an unending series of requests from management to provide information to them on many topics. Typical report requests are:. Department managers who want to spend large amounts on fixed assets usually provide documentation to management that supports their arguments.

This analysis may not extend to making an approval recommendation, but the cost accountant should provide enough information to clarify the issue for management. There are many cost centers in a company such as the accounting department! This information may be used to outsource selected cost centers.

The profitability of some companies is heavily dependent upon the cost of the commodities that they incorporate into their products, especially if it is difficult to pass along cost increases to customers. The cost accountant should monitor these cost changes closely.

It is easy to report on revenues by customer, but much more difficult and insightful to report on profits by customer. It is also useful to report on such additional factors as customer backlog, customer returns, discounts given, and outstanding accounts receivable.

This is a general category of report that applies to many types of analysis. Whenever management makes a decision, the cost accountant may be called upon to return to the decision at some point in the future to investigate whether the assumptions used to make the decision were accurate, and what circumstances caused changes in the original forecasts.

It is not sufficient to simply present the information — the cost accountant should also investigate and provide explanations of why metrics have changed over time.

Examples of commonly-used metrics are the return on assets, inventory turnover, and accounts receivable turnover. These analyses tend to include a large amount of detail on all expense line items, and may include non-financial metrics, such as revenue or cost per employee, or transaction error rates pertaining to a specific department.

These reports generally do not include overhead costs, unless they can be reliably traced to specific jobs or projects. The cost accountant needs to have a good knowledge of what costs are truly relevant to determine what costs to include in these reports.

Many jobs and projects have their own budgets, so these reports may include variances from their budgets, and why the variances occurred. Reporting at the product level can be difficult, because such analyses should not include an overhead allocation in many instances, especially when management is deciding whether to drop a product.

Instead, this analysis tends to focus on only those costs that vary directly with the presence or absence of a specific product. This is one of the best analyses, because it is usually possible to include a significant amount of overhead allocation; overhead costs are frequently incurred at the product line level, so overhead can be traced to a specific product line.

The advantage of internal reporting is that the cost accountant is not constrained by the dictates of generally accepted accounting principles or international financial reporting standards to present information in a certain format. Instead, it is quite allowable to add to or strip away information in accordance with the specific situation for which the cost accountant is creating a report. In many cases, it may be useful to use direct costing see the Direct Costing chapter , which only includes information that will change as the result of a decision.

Other possible reporting methods include job costing, process costing, standard costing, activity-based costing, and so on — in short, it is possible to select from a full palette of cost analysis methodologies. In particular, the cost accountant will rarely have a need to use full absorption costing in a management report, since the inclusion of overhead costs that is required under full absorption costing is not only irrelevant to many situations, but may present misleading information.

Absorption costing is a methodology under which all fixed and variable manufacturing costs are assigned to products, while all non-manufacturing costs are charged to expense in the current period.

The cost accountant investigates and finds the following costs on a per-unit basis:. The company intends to shut down the entire production line for these glass thermometers, so the variable overhead element of the cost will be eliminated if the product line is stopped.

However, the fixed overhead cost is related to the cost of the entire facility in which the company operates, and these costs will not go away if the company drops the product line. Note: A relevant cost is a cost that relates to a specific management decision, and which will change in the future as a result of that decision. A key issue to remember when reviewing the preceding array of possible internal reports is that the cost accountant should have a strong ability to present information clearly.

Too frequently, an otherwise perfectly competent cost accountant presents a dense spreadsheet to management, and points out that the answer to their query is buried deep in the spreadsheet. It takes considerable experience to create management reports that display key information prominently and persuasively. If a company uses just-in-time manufacturing systems, management needs to know about production and inventory issues as soon as they occur, not at the end of the month which is when most of the reports listed in the last section are released.

Accordingly, the cost accountant may become deeply involved on the production floor and warehouse in tracking down the causes of problems, reporting them to management, and actively participating in their resolution. This type of problem solving may not involve any written report at all — perhaps just a verbal discussion or a brief note.

This is the type of cost accounting work that production managers deeply appreciate, and which is the hallmark of a fully-involved cost accountant. The marketing department is responsible for setting prices, which should be based on supply and demand, rather than the cost of a product.

Nonetheless, the cost accountant is closely involved in price setting for four reasons:. There may be situations where the company receives an offer from a customer for a one-time deal to provide products at a reduced price. The cost accountant provides input into whether or not this will be a good deal for the company.