Rien Brouwers was docent bedrijfseconomie aan Avans Hogeschool en bekleedt op dit moment een managementfunctie op deze school.

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Rien Brouwers, Wim Koetzier, Olaf Leppink

The basics of financial management

Name: The basics of financial management
Author: Rien Brouwers

Paperback Engels 2024 6e druk 9789001035341

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Samenvatting

• Comprehensive method, including a workbook and an answer book;
• well suited for self-study due to the structural framework of the book and the additional online study materials;
• written from an international perspective.

For over 27 years now, The Basics of Financial Management has been an authoritative book on the fundamentals of financial management. The first few chapters form an introduction to the key economic concepts. The remaining chapters delve deeper into the fields of financing, management accounting and financial accounting. Together with the additional workbook and answer book The Basics of Financial Management constitutes a comprehensive method. Students can work with the books independently.

There is also a Dutch edition of this book .
In this renewed sixth edition of The Basics of Financial Management the subject matter is placed in an international perspective. To increase user friendliness, the authors have streamlined the language in this sixth edition and have divided the material into smaller units in parts 1 and 2. Naturally, the material has been updated and new topics have been added. For example, in the new edition:

- a distinction is made in capital budgeting between autonomous and induced investments, and the average cost of capital is explained in more detail. To emphasize that free cash flow is central to capital budgeting, the method of average accounting rate of return, which is based on profit, has been dropped;
- leasing is covered in more detail in the chapter about debts. The discussion of working capital management now includes a separate section on the significance of logistical principles for inventory management and factoring for credit management.
- the hidden and secret reserves have been dropped in the equity chapter. Instead, the value gap between intrinsic value and market capitalization is addressed. With regard to debts, relevant topics are now discussed in order of decreasing importance for the financing of companies.

Doelgroep
This book is used in many different programs within higher education, like Finance & Control, Commercial Economics, Business Administration, Business Studies, Accountancy and Facility Management.

Digital material
On the additional website, students can find many extra study materials, like the answers to assignments, explanatory videos, practice exams per chapter, summaries per chapter, feedback and study advice. For lecturers the website includes assignment answers and PowerPoints.

About the authors
All three authors have years of experience as lecturers in higher economic education and as authors/researchers in their workfield.

Trefwoorden

financieel management bedrijfseconomie balans resultatenrekening kasstroomoverzicht vermogensstructuur kostencalculatie investeringsbeslissingen werkkapitaalbeheer budgettering financieringsvormen financiële ratio's vreemd vermogen kostenstructuur eigen vermogen indirecte kosten jaarverslaggeving rechtsvorm free cash flow debiteurenbeheer voorraadbeheer contante waarde financiële markten activity based costing break-even analyse corporate social responsibility bedrijfsplan variance analysis consolidatie financial leverage

Trefwoorden

Specificaties

ISBN13:9789001035341

Taal:Engels

Bindwijze:paperback

Aantal pagina's:495

Uitgever:Noordhoff

Druk:6

Verschijningsdatum:2-7-2024

Hoofdrubriek:Financieel management

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Over Rien Brouwers

Rien Brouwers was docent bedrijfseconomie aan Avans Hogeschool en bekleedt op dit moment een managementfunctie op deze school. Naast auteur van Basisboek Bedrijfseconomie is hij mede-auteur van Bedrijfseconomische analyses en De Basis van Bedrijfseconomie voor non-financials.

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Over Wim Koetzier

Drs. Wim Koetzier (1958) is als docent verbonden aan de Christelijke Hogeschool Windesheim te Zwolle, de Post-Hbo opleiding Financial Controller en de doctorale controlleropleiding van de Universiteit Nyenrode.

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Over Olaf Leppink

Olaf Leppink was docent bedrijfseconomie aan Saxion Hogeschool en bekleedt op dit moment een managementfunctie aan deze hogeschool. Naast auteur van Basisboek Bedrijfseconomie is hij mede-auteur van De Basis van Bedrijfseconomie voor non-financials.

Andere boeken door Olaf Leppink

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Inhoudsopgave

U kunt van deze inhoudsopgave een PDF downloaden

Introduction 10

PART 1
Business Economics and Companies 13
1 Businesses and their Role in the Economy 15
1.1 Economics and Business Economics 16
1.2 Characteristics of Companies 17
1.3 Corporate Social Responsibility and True Pricing 21
1.4 Characteristics of Non-Profit Organizations 26
1.5 Business Activities 27
1.6 Supply Chain and Industry 31
1.7 Types of Cooperation between Companies 32

2 Legal Aspects of Companies 43
2.1 Legal Forms of Companies 44
2.2 Sole Proprietorship 45
2.3 Partnerships 46
2.4 Joint-stock Companies 47
2.5 Cooperatives 49
2.6 Association and Foundation 50
2.7 Profit Tax for Companies without Legal Entity 51
2.8 Profit Tax for Companies with Legal Entity 54
2.9 Sole Proprietorship or LLC 57
2.10 Value Added Tax 58

3 Business Economics: Disciplines and Positions 73
3.1 Business Economics: Disciplines 74
3.2 Relationships to Other Disciplines 78
3.3 Positions in Financial Management 79

4 Financial Statements 87
4.1 Investment and Financing 88
4.2 Balance Sheet 89
4.3 Income Statement 92
4.4 Profit versus Cash Flow 93

5 Business Plan 105
5.1 Functions of a Business Plan 106
5.2 Business Plan Components 107
5.3 Financial Substantiation of the Business Plan 112

PART 2
Finance 119
6 Capital Budgeting 121
6.1 Investing 122
6.2 Free Cash Flow 124
6.3 Payback Period 127
6.4 Time Value of Money 130
6.5 Discounted Cash Flow Methods 133
6.6 Uncertainty 137

7 Working Capital Management 147
7.1 Cash Flow Cycle 148
7.2 Inventory Management and Economic Order Quantity 151
7.3 Inventory Management and Uncertainty 154
7.4 Inventory Management and Logistics 156
7.5 Credit Management 159
7.6 Factoring 162
7.7 Cash Management 164

8 Equity 175
8.1 Companies with a Non-legal Entity Status 176
8.2 Companies with a Legal Entity Status 177
8.3 Share Value 181
8.4 Reserves 183
8.5 Issue of Shares 185

9 Debt 195
9.1 Cost of Debt 196
9.2 Bank Credit 198
9.3 Trade-offs between short and long term Credit 201
9.4 Asset-based Finance 204
9.5 Bonds 207
9.6 Convertible Bonds 210
9.7 Crowdfunding 211

10 Assessment of the Financial Structure 223
10.1 Ratio Analyses 224
10.2 Profitability Ratios 225
10.3 Financial Leverage 227
10.4 Dupont Chart 229
10.5 Solvency Ratios 231
10.6 Liquidity Ratios 234

11 Financial Markets 245
11.1 Investments in Securities 246
11.2 Options 250
11.3 Investment Ratios 255

PART 3
Management Accounting 263
12 Cost Structure 265
12.1 Costs in Relation to Production Volume 266
12.2 Variable Costs 266
12.3 Fixed Costs 268
12.4 Estimation of Cost Functions 270
12.5 Break-even Point and Safety Margin 273
12.6 Assumptions in Break-even Analysis 276
12.7 Operating Leverage 278

13 Cost Calculations 291
13.1 Total Cost and Unit Cost 292
13.2 Absorption Costing 294
13.3 Direct Costing 296
13.4 Profit Differences between Absorption Costing and Direct Costing 298
13.5 Absorption Costing and Direct Costing as Instruments for Decision-making 302
13.6 Economic Life and the Replacement of Fixed Assets 307

14 Indirect Costs 321
14.1 Cost Allocation 322
14.2 Process Costing 323
14.3 Equivalent Units Method 324
14.4 Single Rate Markup Method 325
14.5 Multiple Rate Markup Method 330
14.6 Cost Center Method 331
14.7 Activity-based Costing 337
14.8 Unit Cost and Customer Cost 340

15 Budgeting 349
15.1 Budgeting as a Management Tool 350
15.2 Master Budget 352
15.3 Balanced Scorecard 355
16 Variance Analysis 363
16.1 Flexible Budget 364
16.2 Sales Revenue Variances 365
16.3 Cost Variances 367

PART 4
Financial Accounting 381
17 Annual Reporting 383
17.1 Stakeholders and Disclosure Requirements 384
17.2 Financial Statements 386
17.3 Report by the Managing Board 391
17.4 Auditor’s Report 392

18 Balance Sheet 403
18.1 Assets, Equity and Liabilities 404
18.2 Intangible Fixed Assets 406
18.3 Tangible Fixed Assets 408
18.4 Inventories 413
18.5 Current Projects 415
18.6 Financial Assets 418
18.7 Equity 419
18.8 Liabilities 419

19 Income Statement 431
19.1 Nature and Function of Expenses Income Statement 432
19.2 Added Value 435

20 Cash Flow Statement 443
20.1 Function and Status 444
20.2 Deriving the Cash Flow Statement from Balance Sheet and Income Statement 445

21 Associates, Subsidiaries and Consolidation 457
21.1 Associates 458
21.2 Consolidation 460
21.3 Non-controlling Interests 464

Answers to the test questions 472
Answers to the multiple-choice questions 483
Photo credits 486

Index 487
About the authors 492

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