9780321818171_berk_ch03

With that task done the financial managers job is to

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Unformatted text preview: efits associated with a decision have already been identified. With that task done, the financial manager’s job is to compare the costs and benefits and determine the best decision to make for the value of the firm. Your Personal Financial Decisions While the focus of this text is on the decisions a financial manager makes in a business setting, you will soon see that concepts and skills you will learn here apply to personal decisions as well. As a normal part of life, we all make decisions that trade off benefits and costs across time. Going to university, purchasing this book, saving for a new car or house down payment, taking out a car loan or home loan, buying shares of stock, and deciding Concept Check 03_ch03_berk.indd 03_ch03_berk.indd 68 between jobs are just a few examples of such decisions that you have faced or could face in the not-too-distant future. In this chapter, we develop the Valuation Principle as the foundation of all financial decision making— whether in a business or in a personal context—and begin to show how it is a unif...
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This note was uploaded on 02/07/2014 for the course MIS 304 taught by Professor Mejias during the Spring '07 term at University of Arizona- Tucson.

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