Each major decision area is presented in terms of

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Unformatted text preview: nefit results from the tax deductibility of certain corporate expenses? 1–29 How is the tax loss carryback/carryforward used when a firm experiences an operating loss in a given year? 1.6 Using This Text The organization of this textbook links the firm’s activities to its value, as determined in the securities markets. The activities of the financial manager are described in the six parts of the book. Each major decision area is presented in terms of both return and risk factors and their potential impact on owners’ wealth. Coverage of international events and topics is integrated into the chapter discussions, and a separate chapter on international managerial finance is also included. The text has been developed around a group of learning goals—six per chapter. Mastery of these goals results in a broad understanding of managerial finance. These goals have been carefully integrated into a learning system. Each CHAPTER 1 The Role and Environment of Managerial Finance 33 chapter begins with a numbered list of learning goals. Next to each major text heading is a “toolbox,” which notes by number the specific learning goal(s) addressed in that section. At the end of each section of the chapter (positioned before the next major heading) are review questions that test your understanding of the material in that section. At the end of each chapter, the chapter summaries, self-test problems, and problems are also keyed by number to each chapter’s learning goals. By linking all elements to the learning goals, the integrated learning system facilitates your mastery of the goals. Also keyed to various parts of the text is the PMF CD-ROM Software, a disk for use with IBM PCs and compatible microcomputers. The disk contains three different sets of routines: 1. The PMF Tutor is a user-friendly program that extends self-testing opportunities in the more quantitative chapters beyond those included in the end-ofchapter materials. It gives immediate feedback with detailed solutions...
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