Financial Management, Principles and Practice

by Timothy J. Gallagher

The impact of the Tax Cut and Jobs Act (TCJA) of 2017 on businesses is described in detail; the impact on corporate decision making is incorporated throughout this edition. The loss of the tax deduction for business interest expense has affected many parts of the book. There is a new flat tax rate for corporations, replacing the previous graduated tax rates. • The material in the determination of the level of interest rates has been rewritten to explain how market interest rates can become negative. • There is new material on problems facing public pension funds. • The accounting treatment for issuing new common stock in the primary market has been expanded. Other Important Topics and Elements Often Not Found in Other Books: 1. Benefit corporations are examined. This includes those chartered by states that allow corporate charters to allow companies to consider the interests of society and non-owners stakeholders along with those of the owners. Other corporations certified by the not-for-profit B Lab are examined, along with the criteria used for B Lab certification. 2. Activist investors are covered including how they influence companies, and how they pressure companies into certain actions that might not otherwise be undertaken. 3. Chapter 8 – Time Value of Money (TVM) has been substantially expanded and improved. Each step is presented to the student so that the solutions to the many different types of problems make sense and are easy to learn. Algebraic, table, financial calculator, and Excel spreadsheet solutions are presented for each type of TVM problem. The student reader can see each step for each different approach. Images and graphs are used for the benefit of the visual learner.

580 pages, ebook

First published September 1, 1978

Reviews

[Bilal Hameed · Rating 5 out of 5]

lovely book

[Michelle · Rating 4 out of 5]

Is it weird that I "really liked" a text book? I guess that's saying something...

The authors managed to integrate relevant real world examples into the text while making the things you need to know very obvious. It's easy to head back and reference through pages, and frankly it's been awhile since I've been able to read a finance text straight through without wanting to nod off. Good stuff.

[Megan Bond · Rating 2 out of 5]

in need of color & graphics, but easy to read

[Taufiq]

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