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Principles of Managerial Finance with MyFinanceLab, Global Edition

Principles of Managerial Finance with MyFinanceLab, Global Edition

14th Edition

Lawrence Gitman, Chad Zutter

Oct 2014, Book with Online Course Access
ISBN13: 9781292078342
ISBN10: 1292078340
For orders to USA, Canada, Australia, New Zealand or Japan visit your local Pearson website
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This package contains Gitman, Principles of Managerial Finance 14e and access to MyFinanceLab.

Important information for students:

You need both an access code and a course ID to access MyFinanceLab. Ask your lecturer before purchasing a MyLab product as you will need a course ID from them before you can gain access to the system.

For Introduction to Managerial Finance courses.

Guide students through complex material with a proven learning goal system. This system—a hallmark feature of Principles of Managerial Finance—weaves pedagogy into concepts and practice, giving students a roadmap to follow through the text and supplementary tools.

This program will provide a better teaching and learning experience—for you and your students. Here’s how:

  • Guide Students with a Proven Learning Goal System: Integrating pedagogy with concepts and practical applications, this system presents the material students need to make effective financial decisions in a competitive business environment.
  • Provide Real, Hands-on Examples and Connections: Personal finance connections, international considerations, and Excel® spreadsheet practice help students identify and apply concepts in their daily lives.
  • Improve Results with MyFinanceLab: MyFinanceLab delivers proven results in helping students succeed and provides engaging experiences that personalize learning.

This package includes MyFinanceLab, an online homework, tutorial, and assessment program designed to work with this text to personalize learning and improve results. With a wide range of interactive, engaging, and assignable activities, students are encouraged to actively learn and retain tough course concepts.

MyFinanceLab should only be purchased when required by an instructor. Please be sure you have the

correct ISBN and Course ID. Instructors, contact your Pearson representative for more information.

Find out more at www.MyFinanceLab.com.

Part 1. INTRODUCTION TO MANAGERIAL FINANCE

1. The Role of Managerial Finance

2. The Financial Market Environment

Part 2. FINANCIAL TOOLS

3. Financial Statements and Ratio Analysis

4. Cash Flow and Financial Planning

5. Time Value of Money

Part 3. VALUATION OF SECURITIES

6. Interest Rates and Bond Valuation

7. Stock Valuation

Part 4. RISK AND THE REQUIRED RATE OF RETURN

8. Risk and Return

9. The Cost of Capital

Part 5. LONG-TERM INVESTMENT DECISIONS

10. Capital Budgeting Techniques

11. Capital Budgeting Cash Flows

12. Risk and Refinements in Capital Budgeting

Part 6. LONG-TERM FINANCIAL DECISIONS

13. Leverage and Capital Structure

14. Payout Policy

Part 7. SHORT-TERM FINANCIAL DECISIONS

15. Working Capital and Current Assets Management

16. Current Liabilities Management

Part 8. SPECIAL TOPICS IN MANAGERIAL FINANCE

17. Hybrid and Derivative Securities

18. Mergers, LBOs, Divestitures, and Business Failure

19. International Managerial Finance

Appendix

Glossary

Index

This title is a Pearson Global Edition. The Editorial team at Pearson has worked closely with educators

around the world to include content which is especially relevant to students outside the United States.

Guide Students with a Proven Learning Goal System

Proven Learning Goal System: To guide students through the material, this edition continues to enhance its proven learning goal system, which integrates pedagogy with concepts and practical applications.

  • The system concentrates on the material students need to know in order to make effective financial decisions in an increasingly competitive business environment.
  • The strong pedagogy and generous use of examples—including personal finance examples—make this text an easily accessible resource for in- and out-of-class learning.
  • Six Learning Goals at the start of the chapter highlight the most important concepts and techniques in the chapter. Students are reminded to think about the learning goals while working through the chapter by strategically placed learning goal icons
  • Every chapter opens with a feature, titled Why This Chapter Matters to You, that helps motivate student interest by highlighting both professional and personal benefits from achieving the chapter learning goals.
  • The Review of Learning Goals, the second part of each chapter Summary, restates each learning goal and summarizes the key material that was presented to support mastery of the goal. This review provides students with an opportunity to reconcile what they have learned with the learning goal and to confirm their understanding before moving forward.

Overarching Organization: A carefully designed framework helps students make connections. It

conceptually links the firm’s actions and its value, as determined in the financial market.

  • Each major decision area is presented in terms of both risk and return factors and their potential impact on owner’s wealth.
  • A Focus on Value feature at the end of each chapter helps to reinforce students’ understanding of the link between the financial manager’s actions and the firm’s share value.

Provide Real, Hands-on Examples and Connections

Personal Finance Connection: Several features show students the value of applying financial principles and techniques to their personal lives:

  • Why This Chapter Matters to You helps motivate interest by discussing how the topic relates to the concerns of other major business disciplines and personal finance decisions.
  • Personal Finance examples link the concepts, tools, and techniques of each chapter. Numerous examples of personal finance problems can be found throughout the homework material.

International Considerations: In today’s world international considerations are essential to the study of business in general–and finance in particular. As in prior editions, discussions of international dimensions are integrated throughout the chapters, learning goals, and end-of-chapter content.

  • For instructors who devote more time to international considerations, a separate chapter on international managerial finance is available at the end of the text.

NEW End-of-Chapter Excel Review Questions: These ask readers to complete problems using a

simulated Excel spreadsheet in MyFinanceLab that resemble examples demonstrated in the corresponding section. These problems simulate the experience of building an Excel spreadsheet solution and provide students with Excel tutorials to help develop this important business skill.

AAA Spreadsheet Exercise in each chapter: These give students an opportunity to use Excel® software to create one or more spreadsheets with which to analyze a financial problem. The spreadsheet to be created often is modeled on a table or Excel screenshot located in the chapter. Students can access

working versions of the Excel screenshots in MyFinanceLab.

In Practice boxes: Insights into important topics in managerial finance are offered through the

experiences of real companies, both large and small. There are three categories of In Practice boxes:

  • NEW Focus on Ethics boxes in every chapter help readers understand and appreciate important ethical issues and problems related to managerial finance. New topics include: Critics See Ethical Dilemmas in Google Glass? (Chapter 1).
  • Focus on Practice boxes take a corporate focus that relates a business event or situation to a specific financial concept or technique.
  • Global Focus boxes look specifically at the managerial finance experiences of international companies.
  • All three types of In Practice boxes end with one or more critical thinking questions to help readers broaden the lesson from the content of the box.

NEW Matter of Fact box topics, including:

• Firms Accelerate Dividends so Shareholders Save on Taxes (chapter 1)

• Bond Yields Hit Record Lows (chapter 6)

• Did Tax Cuts Stimulate Dividends? (chapter 7)

• The Value of Speed (chapter 7)

• Payback in Europe (chapter 10)

• Europeans Squeeze Working Capital (chapter 11)

• USPS Problems Create Opportunities for Banks (chapter 15)

• Receivables Trading (chapter 16)

NEW chapter-opening vignettes, including:

• A Crisis in Housing Finance (chapter 2)

• General Dynamics (chapter 3)

• European Aeronautic Defense and Space Co. (chapter 4)

• City of Cincinnati (chapter 5)

• Tesla (chapter 7)

• Legg Mason Global Asset Management (chapter 8)

• Alcoa (chapter 9)

• Diamond Comic Distributors (chapter 11)

• YPF (chapter 12)

• Lowe’s (chapter 13)

• Whirlpool (chapter 14)

• Treasury Risk Survey 2013 (chapter 15)

• FastPay (chapter 16)

• Nokia Corporation (chapter 17)

• Dell, Inc. (chapter 18)

• Air New Zealand (chapter 19)

Key equations: Found in green boxes throughout the text, these equations help readers identify the most important mathematical relationships. The variables used in these equations are, for convenience, printed on the front endpapers of the book.

Review Questions: Placed at the end of each major text section, these questions challenge readers to stop and test their understanding of key concepts, tools, techniques, and practices before moving on to the next section.

Opener-in-Review questions at the end of each chapter revisit the opening vignette and ask students to apply lessons from the chapter to that business situation.

Self-Test Problems, keyed to the learning goals, give readers an opportunity to strengthen their

understanding of topics by doing a sample problem. For reinforcement, solutions to the Self-Test

Problems appear in the appendix at the back of the book.

Warm-Up Exercises follow the Self-Test Problems. These short, numerical exercises give students

practice in applying tools and techniques presented in the chapter.

Comprehensive Problems, keyed to the learning goals, are longer and more complex than the Warm-
Up Exercises. In this section, instructors will find multiple problems that address the important concepts, tools, and techniques in the chapter.

An Integrative Case at the end of each part of the book challenges students to use what they have learned over the course of several chapters.

NEW TVM Tables Supplement is a self-contained online supplement which explains how the reader

should use the interest rate factors and documents how the in-chapter examples can be solved using the

interest rate factors. An IRF icon appears to indicate which examples can be solved using the interest rate factors.

Additional chapter resources, such as Chapter Cases, Group Exercises, Critical Thinking Problems,

and numerous online resources for student learning and assessment are available in MyFinanceLab at

www.myfinancelab.com.

This package includes MyFinanceLab, an online homework, tutorial, and assessment program designed to work with this text to personalize learning and improve results. With a wide range of interactive, engaging, and assignable activities, students are encouraged to actively learn and retain tough course concepts.

Improve Results with MyFinanceLab

MyFinanceLab for Principles of Managerial Finance creates learning experiences

that are truly personalized and continuously adaptive. MyFinanceLab reacts to how students are actually performing, offering data-driven guidance that helps them better absorb course material and understand difficult concepts—resulting in better performance in the course. A dynamic set of tools for gauging individual and class progress means educators can spend less time grading and more time teaching.

• Adaptive Learning: A way to enable personalized learning at scale.Not every student learns the

same way and at the same rate. MyLab with Adaptive Learning continuously assesses student

performance and activity in real time, and, using data and analytics, personalizes content to

reinforce concepts that target each student’s strengths and weaknesses.

• Mobile Dashboard: An app that helps students stay on track. The Mobile Dashboard gives

students the feedback they need to stay on target throughout the course—right on the devices

they’re already using. A companion app that is available for select MyLab & Mastering products,

Mobile Dashboard provides instant, 24/7 access to course announcements, assignment due dates,

scores, and results.


• Enhanced eText: Engagement in lecture is essential to student success, and continuing that

engagement outside of class is just as critical. The new Enhanced eText found within Pearson’s

MyLab keeps students engaged in learning on their own time, while helping them achieve greater

conceptual understanding of course material.


• Just as a great instructor brings course material to life, the immersive Enhanced eText brings

reading to life – with animations, interactive tutorials, and more. In the Enhanced eText,

immediate practice suited to a variety of learning styles is just a click away. The results of all

exercises feed into the MyLab Study Plan, powered by Knewton, which provides an exceptional

adaptive learning experience for each individual student.


• Combining resources that illuminate content with accessible self-assessment, Pearson’s MyLab

with Enhanced eText provides students with a complete digital learning experience – all in one

place.


• A powerful homework and test manager: MyLab lets you create, import, and manage online

homework assignments, quizzes, and tests that are automatically graded. You can choose from

a wide range of assignment options, including time limits, proctoring, and maximum number of

attempts allowed. The bottom line: MyLab means less time grading and more time teaching.


• Comprehensive online course content: Filled with a wealth of content that is tightly integrated

with your textbook, MyLab lets you easily add, remove, or modify existing instructional material.

You can also add your own course materials to suit the needs of your students or department. In

short, MyLab lets you teach exactly as you'd like.


• Robust gradebook tracking: The online gradebook automatically tracks your students' results

on tests, homework, and practice exercises and gives you control over managing results and

calculating grades. The gradebook provides a number of flexible grading options, including

exporting grades to a spreadsheet program such as Microsoft Excel. And, it lets you measure and

document your students' learning outcomes.


• Easily scalable and shareable content: MyLab enables you to manage multiple class sections,

and lets other instructors copy your settings so a standardized syllabus can be maintained across

your department. Should you want to use the same MyLab course next semester, with the same

customized settings, you can copy your existing course exactly—and even share it with other

faculty members.