FINA Text BK - Preface - fall 2010

FINA Text BK - Preface - fall 2010 - MODULAR FINANCE Spring...

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MODULAR FINANCE Spring, 2010
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Spring 2010 i PREFACE TO MODULAR FINANCE PEYTON FOSTER RODEN This book reflects the dramatic changes in teaching and learning finance that have occurred over the past five years. The title reflects the way that Blackboard/WebCT Vista provides and uses information for you to use on the web. Whatever book you may be using, and there are several of them, you will find the material in this book and on the web helpful. I created this book and developed the web material for you, the future business manager. By taking a course like finance, you have the chance to learn not only some basic principles of finance, but also to see if you may be interested in a career in the area of finance. It’s a wise choice to take such a course because there is not only a wealth of knowledge to be accumulated, but also a variety of specialties within finance to keep you motivated throughout your working life. To you, a future business professional, this book offers a wide-ranging look at finance. You will find your study of finance useful because all companies— large and small— struggle with finance everyday. Think of all of the events that affect cash inflow and cash outflow. And think of the consequences of running out of cash. As with all introductory books, the cornerstone of this book is agency theory, the idea that managers are agents of shareholders and should act in such as way as to increase their (shareholders) wealth. More directly, financial managers should maximize shareholder wealth by increasing the price per share of the company's common stock. This theory provides you with a conceptual framework throughout the book as you learn to analyze problems and make financial decisions. Each Module uses these ideas to guide you through the topics of financial management. Without this underlying theory, the topics would seem like an unrelated collection of recipes for calculations and procedures. Sometimes textbooks convey the impression that finance lies in a set of theories and models removed from the fears, intuitions, and uncertainties of the real world and real people. Theories, models, and equations are simplifications of reality designed to help you see the skeleton of financial decision making; the flesh and blood of reality are often too complicated to understand without first seeing the skeleton. Recognizing this fact, I’ll remind you with real-world examples that financial management consists of people like you and I are, struggling to achieve goals.
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Spring 2010 ii I think this book is special. It combines an action-oriented presentation with an action-oriented writing style. You’ll meet challenges in both quantitative and verbal analyses and learn an exciting mixture of practicalities and theories. The book presents the basic ideas of finance without forcing you into esoteric digressions you’ll soon forget. To help you learn these ideas, I include numerous in-text examples, applications, and illustrations. The book is also special because of its topical coverage and
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This note was uploaded on 05/10/2010 for the course FINA 3770 taught by Professor Chandy during the Fall '08 term at North Texas.

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FINA Text BK - Preface - fall 2010 - MODULAR FINANCE Spring...

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