Managerial Finance [antikvár]

Preface In the United Kingdom in recent years, academics and business practitioners alike have shown a growing awareness of the importance of the study of managerial finance. The major accountancy bodies have reflected this awareness by including the study of finance in their examination schemes. Additionally, an increasing number of universities and polytechnics have introduced courses, at the undergraduate, postgraduate and post-experience levels, which involve the study of finance. The popularity of courses such as the Certified Diploma in Accounting and Finance is evidence of the demand for this by business practitioners. We have been engaged for several years in the teaching of finance on various courses and have become increasingly concerned by the scarcity of comprehensive textbooks which include a study of the theoretical concepts of finance within the framework of the United Kingdom financial environment. While there have been some excellent textbooks produced for this subject, very few have related specifically to the United Kingdom or have taken students from a study of the basic concepts of finance through to the major recent developments. In creating this British version of Managerial Finance we have attempted to fulfil the need for such a text by appropriately adapting a highly successful and well-proven United States book. Thus we have made maximum use of the vast academic and business experience embodied in the sixth edition of Managerial Finance but have reset it in the context of the United Kingdom environment. Wherever possible, original material has been retained although chapters relating to the institutional framework and sources of finance have been completely rewritten, as have several end-of-chapter problems. References have been supplemented by more recent British publications, and terminology has been revised in an attempt to overcome the traditional reluctance of British students to use textbooks with American terminology. The major areas of change can be summarized as follows: 1. We have up-dated all material that may change over time and wherever possible we have used British rather than American examples. 2. Chapters 2 to 5 have been recast to conform with British practices of financial reporting. An appendix which examines limitations of financial statements in an inflationary environment has been added to Chapter 2.