This new edition, expanded with the addition of four new chapters, continues to help students develop an essential understanding of how financial management plays a positive role in strategic management of organizations. The book is designed for a foundation course in financial management for the postgraduate students of business management (MBA), commerce, engineering and technology. It focuses on presenting with great clarity the basic concepts underlying the theory of financial management and also the real-world practice in areas of investment, financing and asset management.
Each financial function is discussed in the most lucid and concise manner to help students improve their basic skills in financial management. The aim of the book is to enable the readers to get a profound insight into the financial decision-making processes. The book introduces the readers to the three major decision-making areas in financial management: break-even analysis, decisions involving alternative choices, and variance analysis.
Key Features :
A systematic presentation of the subject matter, supported with a number of illustrations and diagrams for easy understanding.
The topics of ‘ratio analysis’ and ‘cash flow analysis’ have been thoroughly revised and enlarged in accordance with the Accounting Standards (AS) issued by the ICAI.
Theoretical discussions are supplemented with suitable case studies.
Examination problems are given at the end of each chapter.
The chapter ‘New Horizons in Budgeting’ explains the latest trends in budgeting.