Previous edition: 2014.

Includes bibliographical references and index.

Part 1 The business finance environment Chapter 1 Introduction Chapter 2 A framework for financial decision making Chapter 3 Financial (accounting) statements and their interpretation Part 2 Investment decisions Chapter 4 Investment appraisal methods Chapter 5 Practical aspects of investment appraisal Chapter 6 Risk in investment appraisal Chapter 7 Portfolio theory and its relevance to real investment decisions Part 3 Financing decisions Chapter 8 Sources of long-term finance Chapter 9 The secondary capital market (the stock exchange) and its efficiency Chapter 10 Cost of capital estimations and the discount rate Chapter 11 Gearing, the cost of capital and shareholders' wealth Chapter 12 The dividend decision Part 4 Integrated decisions Chapter 13 Management of working capital Chapter 14 Corporate restructuring (including takeovers and divestments) Chapter 15 International aspects of business finance Chapter 16 Small businesses Glossary References Index

Business finance from a user's perspective is the focus of this book, rather than being purely an academic study. It is an introduction to making decisions about investments the firm should make and how best to finance those decisions. This book is an essential introduction to the world of financing and investment decision making. With a strong real world focus, this text aims to help you bridge the gap between the theories surrounding financial decision making and what happens in the real business world in an accessible, user-friendly way. Alongside the book, you can visit the Business Finance companion website at www.pearsoned.co.uk/mclaneyto access a comprehensive range of student-learning resources, including additional questions, web links for further reading and a glossary of key terms.