Combing up-to-the-minute coverage with best practices from the field, BASIC FINANCE: AN INTRODUCTION TO FINANCIAL INSTITUTIONS, INVESTMENTS, AND MANAGEMENT, 12Eillustrates how all three primary aspects of finance -- investments, financial institutions, and corporate finance -- are interrelated to give you a solid foundation in the essentials of finance. Extremely reader friendly, each chapter offers a concise, self-contained treatment of specific concepts or institutions. Comprehensive coverage of time value of money uses equations, interest tables, and financial calculator keystrokes to ensure your understanding of this key topic that permeates finance. In addition, numerous hands-on problems, financial calculation illustrations, an Excel appendix, and the MindTap digital solution help you put what you learn into practice and maximize your success.
Preface.
1. An Introduction to Basic Finance.
Part I: FINANCIAL INSTITUTIONS.
2. The Role of Financial Markets and Financial Intermediaries.
3. Investment Banking.
4. Securities Markets.
5. The Federal Reserve.
6. International Currency Flows.
Part II: FINANCIAL TOOLS.
7. The Time Value of Money.
8. Risk and Its Measurement.
9. Analysis of Financial Statements.
Part III: INVESTMENTS.
10. The Features of Stock.
11. Stock Valuation.
12. The Features of Long-Term Debt -- Bonds.
13. Bond Pricing and Yields.
14. Preferred Stock.
15. Convertible Securities.
16. Investment Returns.
17. Investment Companies.
Part IV: CORPORATE FINANCE.
18. Forms of Business and Corporate Taxation.
19. Break-Even Analysis and the Payback Period.
20. Leverage.
21. Cost of Capital.
22. Capital Budgeting.
23. Forecasting.
24. Cash Budgeting.
25. Management of Current Assets.
26. Management of Short-Term Liabilities.
27. Intermediate-Term Debt and Leasing.
Part V: DERIVATIVES.
28. Options: Puts and Calls.
29. Futures and Swaps.
Appendix A: Interest Factors for the Future Value of One Dollar.
Appendix B: Interest Factors for the Present Value of One Dollar.
Appendix C: Interest Factors for the Future Value of an Annuity of One Dollar.
Appendix D: Interest Factors for the Present Value of an Annuity of One Dollar.
Appendix E: Using Excel to Solve Financial Problems.
Appendix F: Answers to Selected Problems.
Index.
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Herbert B. Mayo
Dr. Herbert Mayo teaches finance at The College of New Jersey, where he previously served as former Director of Accreditation. A well-respected author and experienced educator, Dr. Mayo has written several successful books focusing on critical finance issues and today's investment opportunities. Dr. Mayo earned his Ph.D. from Rutgers University and his undergraduate degree from the University of North Carolina at Chapel Hill.
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Thoroughly revised and up to date, Mayo's BASIC FINANCE: AN INTRODUCTION TO FINANCIAL INSTITUTIONS, INVESTMENTS, AND MANAGEMENT, 12E delivers cutting-edge coverage of the three main aspects of finance: corporate finance, investments, and financial markets and institutions.
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The 12th Edition includes more explicit references to assumptions used in the analyses to help improve student understanding.
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Additional self-help problems with solutions and relationships with answers ensure students have a wealth of hands-on experience putting text concepts into practice.
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Coverage of classes of stock/preferred stock in Chapter 10: The Features of Stock has been thoroughly rewritten and expanded to make it easier to understand.
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Chapter 12: The Features of Long-Term Debt -- Bonds offers new sections on Internet sources of information and on relationships.
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Equipping instructors with the flexibility of streamlined coverage, most chapters in BASIC FINANCE are succinct enough to cover in one class. Two exceptions are the chapters on time value and risk, which provide enough detailed coverage of these complex topics to ensure thorough student understanding.
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Both concise and extremely reader friendly, chapters emphasize only one or two topics, focusing on the key issues that are most important for students to master in the introductory course.
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The text's coverage of the basics of advanced topics such as derivatives (including puts, calls, and futures contracts) gives instructors the option of also introducing their students to more sophisticated material.
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Enabling students to check their understanding as they progress through the text, answers to selected problems are provided in the appendix and additional problems with worked out solutions are included in appropriate chapters.
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Helping learners maximize their study time and comprehension, keystrokes for time value of money examples are included in the margins throughout the text, while illustrations using equations and interest tables explain the basic math associated with each example (e.g., the determination of bond prices and the yield to maturity).
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Learning objectives at the end of each chapter includes page references to help students quickly review key topics.
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Appendix E illustrates step by step best practices for using Excel to solve problems.
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Repeated exposure to concepts in different chapters reinforces what students have learned, helping improve their retention.
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