Summary
Contents
Subject index
The central theme of this textbook is value-based financial management with the author's basic premise being that value creation should be key to making financial, strategic and operating decisions.
Modern financial theory and valuation techniques are introduced to enable students to make complex business decisions when starting their careers.
Corporate Finance has been revised and expanded to include new topics such as: project finance; leveraged buyouts, EVA and incentive compensation. It also includes numerous real-life case studies to illustrate the practical application of theory.
Estimation of Working Capital
Estimation of Working Capital
Objectives
- Know the components of working capital.
- Be able to measure working capital requirement and the length of operating cycle.
- Know the link between operating cycle and sustainable growth.
- The impact of working capital investment and shareholder value.
- Know the determinants of working capital.
- Know the different approaches to working capital lending adopted by banks.
A firm requires funds to acquire two types of assets: fixed assets and current assets. Fixed assets include land, building, plant and machinery, vehicles, equipment, etc. These assets are relatively permanent in nature and are necessary for carrying on the business. Current assets, on the other hand, are kept for supporting day-to-day operations and keep changing during the course of the business. They are ...
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