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Principles of Finance 6th Edition Besley Test Bank

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Principles of Finance 6th Edition Besley Test Bank.

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ISBN-10 ‏ : ‎ 1285429648
ISBN-13 ‏ : ‎ 978-1285429649
Author: Scott Besley (Author), Eugene F. Brigham (Author)

Develop the strong foundation in contemporary finance needed for success with PRINCIPLES OF FINANCE, 6E by leading authors Besley and Brigham. This practical book addresses today’s most relevant financial concepts as readers examine current financial markets and institutions, investments, and managerial finance. This edition is more practical than ever before with revised presentations that further clarify time value of money and other complex concepts. When relevant, this edition discusses the impact of the 2007-2009 financial market meltdown on finance today and connects topics to reader’s personal finance decisions. Reader clearly see how concepts influence both immediate and long-term common financial decisions and increase their proficiency in using spreadsheets for financial decisions and financial problem solving.

Table of Content:

Part 1: General Finance Concepts
Ch 1: An Overview of Finance
What is Finance?
General Areas of Finance
The Importance of Finance in Nonfinance Areas
The Evolution of Modern Finance
The Importance of Managerial Finance
Financial Decisions and Value (Wealth) Maximization
Recent (Future) Developments in Business and Finance
Questions
Problem
Ch 2: Financial Assets (Instruments)
Financial Instruments and the Firm’s Balance Sheet
Debt
Bond Contract Features
Bond Ratings
Stock (Equity)
Derivatives
Rationale for Different Types of Securities
Which Financial Instrument is Best?
Financial Instruments in International Markets
Questions
Problems
Appendix 2A
Ch 3: Financial Markets and the Investment Banking Process
What are Financial Markets?
Importance of Financial Markets
Types of Financial Markets
The Investment Banking Process
Regulation of Securities Markets
International Financial Markets
Questions
Problems
Computer-Related Problem
Appendix 3A
Ch 4: Financial Intermediaries and the Banking System
Roles of Financial Intermediaries
Types of Financial Intermediaries
Safety (Risk) of Financial Institutions
Banking Systems
International Banking
Questions
Problems
Appendix 4A
Ch 5: The Cost of Money (Interest Rates)
Realized Returns (Yields)
Factors That Affect the Cost of Money
Interest Rate Levels
Determinants of Market Interest Rates
The Term Structure of Interest Rates
Why Do Yield Curves Differ?
Does the Yield Curve Indicate Future Interest Rates?
Other Factors That Influence Interest Rate Levels
Interest Rate Levels and Stock Prices
The Cost of Money as a Determinant of Value
Questions
Problems
Computer-Related Problem
Appendix 5A
Part 2: General Business Concepts
Ch 6: Business Organizations and the Tax Environment
Alternative Forms of Business Organization
Finance in the Organizational Structure of the Firm
What Goal(s) Should Businesses Pursue?
Managerial Actions to Maximize Shareholder Wealth
Should Earnings per Share (EPS) Be Maximized?
Managers’ Roles as Agents of Stockholders
Stockholders’ Roles as Agents of Creditors
Business Ethics
Corporate Governance
Forms of Businesses in Other Countries
Multinational Corporations
Multinational versus Domestic Managerial Finance
The Federal Income Tax System
Corporate Tax Rates in Other Countries
Questions
Problems
Computer-Related Problem
Appendix 6A
Appendix 6B
Ch 7: Analysis of Financial Statements
Recording Business Activity-Financial Statements
Financial Statements
Financial Statement (Ratio) Analysis
Summary of Ratio Analysis: The DuPont Analysis
Comparative Ratios (Benchmarking)
Uses and Limitations of Ratio Analysis
Accounting in an International Setting
Questions
Problems
Computer-Related Problem
Appendix 7A
Ch 8: Financial Planning and Control
Sales Forecasts
Projected (Pro Forma) Financial Statements
Other Considerations in Forecasting
Financial Control-Budgeting and Leverage
Breakeven Analysis
Leverage
Using Leverage and Forecasting for Control
The Cash Budget
Questions
Problems
Computer-Related Problem
Appendix 8A
Appendix 8B
Part 3: Fundamentals of Valuation
Ch 9: Time Value of Money
Cash Flow Timelines
Cash Flow Patterns
Future Value (FV)
Present Value (PV)
Comparison of Future Value with Present Value
Solving for Interest Rates (r), Time (n), or Annuity Payments (PMT)
Semiannual and Other Compounding Periods
Comparison of Different Interest Rates
Amortized Loans
Questions
Problems
Computer-Related Problem
Appendix 9A
Appendix 9B
Ch 10: Valuation Concepts
Basic Valuation
Valuation of Bonds
Finding Bond Yields (Market Rates)
Interest Rates and Bond Values
Changes in Bond Values over Time
Bond Values with Semiannual Compounding
Interest Rate Risk on a Bond
Bond Prices in Recent Years
Valuation of Equity (Stock)
Expected Dividends as the Basis for Stock Values
Actual Stock Prices and Returns in Recent Years
Questions
Problems
Computer-Related Problem
Appendix 10A
Ch 11: Risk and Rates of Return
Defining and Measuring Risk
Expected Rate of Return
Portfolio Risk-Holding Combinations of Assets
The Concept of Beta
The Relationship between Risk and Rates of Return-The Capital Asset Pricing Model (CAPM)
Stock Market Equilibrium
Changes in Equilibrium Stock Prices
Physical Assets versus Securities
Different Types of Risk
Questions
Problems
Computer-Related Problem
Appendix 11A
Part 4: Corporate Decision Making
Ch 12: The Cost of Capital
The Logic of the Weighted Average Cost of Capital (WACC)
Basic Definitions
Cost of Debt, rdT
Cost of Preferred Stock, rps
Cost of Retained Earnings (Internal Equity), rs
Cost of Newly Issued Common Stock (External Equity), re
Weighted Average Cost of Capital (WACC)
The Marginal Cost of Capital (MCC)
Combining the MCC and Investment Opportunity Schedules (IOS)
Project Risk and WACC
WACC versus Required Rate of Return of Investors
Questions
Problems
Computer-Related Problem
Appendix 12A
Ch 13: Capital Budgeting
The Importance of Capital Budgeting
Project Classifications
Steps in the Valuation Process
Estimating a Project’s Cash Flows
Cash Flow Estimation-Illustrations of Expansion Projects and Replacement Projects
Capital Budgeting Evaluation Techniques
Comparison of the NPV and IRR Methods
Cash Flow Patterns and Multiple IRRs
Modified Internal Rate of Return
Conclusions on the Capital Budgeting Decision Methods
Incorporating Risk in Capital Budgeting Analysis
How Project Risk is Considered in Capital Budgeting Decisions
Multinational Capital Budgeting
Questions
Problems
Computer-Related Problem
Appendix 13A
Problem
Appendix 13B
Appendix 13C
Ch 14: Capital Structure and Dividend Policy Decisions
The Target Capital Structure
Business and Financial Risk
Determining the Optimal Capital Structure
Liquidity and Capital Structure
Capital Structure Theory
Variations in Capital Structures among Firms
Dividend Policy
Investors and Dividend Policy
Dividend Policy in Practice
Factors Influencing Dividend Policy
Stock Dividends and Stock Splits
Capital Structures and Dividend Policies around the World
Questions
Problems
Computer-Related Problems
Appendix 14A
Ch 15: Working Capital Management
Working Capital Terminology
The Requirement for External Working Capital Financing
The Cash Conversion Cycle
Working Capital Investment and Financing Policies
Advantages and Disadvantages of Short-Term Financing
Sources of Short-Term Financing
Computing the Cost of Short-Term Credit
Managing Cash and Marketable Securities
Credit Management
Inventory Management
Multinational Working Capital Management
Questions
Problems
Computer-Related Problem
Appendix 15A
Part 5: Investor Decision Making
Ch 16: Investment Concepts
The Investment Process
Investment Alternatives
Securities Transactions
Investment Information
Computing Investment Returns
Indexes-Measuring Market Returns
Alternative Investment Strategies
Questions
Problems
Computer-Related Problem
Appendix 16A
Ch 17: Security Valuation and Selection
Fundamental Analysis versus Technical Analysis
Economic Analysis
Industry Analysis
Evaluating the Firm’s Financial Position
Stock Valuation Techniques
Technical Analysis
Stock Selection Criteria
Investment Selection in Efficient Markets
Questions
Problems
Computer-Related Problem
Appendix 17A
Appendix A: Using Spreadsheets to Solve Financial Problems
Appendix B: Answers to End-of-Chapter Problems
Appendix C: Selected Equations
Index