Financial Management

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This book on Financial Management explains various financial concepts in an easy-to-understand style. The book is meant for readers who wish to have an in-depth study of various financial concepts with emphasis on practical applications. The book contains everything about finance from micro to macro level. Multiple case studies are incorporated to familiarize the readers with the real world problems and their solutions. In addition, a number of solved problems are provided to highlight the practical aspect of financial concepts. The style and structure of the book is lucid and designed to cater the needs of the students of MBA, M. Com, B. Com, and BBA courses. The book will also prove helpful to the CA, CWA, CS, CFA, CFM students, along with corporate managers and entrepreneurs. AboutThe Author Dr. Anil Kumar Dhagat is currently Professor and Director, MBA department in the Gyan Ganga Institute of technology and sciences - Jabalpur. He is also Chairman Board of Studies in Management in the same university. He is an active researcher and a well-known teacher in the field of accounting and finance, with an experience of thirty years. He has published many papers and various Commerce and Management journals, and has also presented papers in various international and national conferences. He is an active member of various management associations at State and All India level. He has also contributed to Staff development programs in management, and has authored two books on Income Tax law. He is honored as a member of advisory committee by various business management institutes in the region for academic development. His area of interest includes Finance, Management Accounting, Security Analysis and Portfolio Management, and Case Study Analysis in Finance. He is also founder member of some management institutes in the region. The proficient team at Kogent Learning Solutions Inc. and Dreamtech Press has seized the market of management books bringing excellent content in management education to the fore. The team is committed to excellence-excellence in quality of content, excellence in the dedication of its authors and editors, excellence in the attention to detail, and excellence in understanding the needs of its readers. Table Of Contents Introduction Financial Management - an Overview Introduction Definition of Finance Scope of Finance Functions of Finance Organizing Finance Function Concept of Financial Management Changing Scenario of Financial Management Objectives of Financial Management Long-Term Financing Introduction Financial Market Long-Term Sources of Finance: Shares, Debentures and Term Loans Medium-Term Sources of Finance Short-Term Financing Introduction Short-Term Financing Sources of Short-Term Financing Agencies providing Short-Term Financing Instruments for Short-Term Financing Factoring Concepts of Organizational Health and Financial Analysis Introduction Parameters for Determining Organizational Health Tools of Financial Analysis Solved Illustrations Numerical Problems Cash Flow and Funds Flow Statements Introduction Cash Flow Statement Concept of Fund Funds Flow Statement Difference between the Cash Flow andFunds Flow Statements Leverages Introduction Exploring the Concept of Leverage in Finance Numerical Problems Financial Business Decisions Introduction Analyzing Financial Business Decisions Solved Illustrations Summary Recapitulation of Formulae Key Terms Exercise Numerical Problems Budget : Concept and Types Introduction Concept of Budget Types of Budget Solved Illustrations Capital Structure Management Introduction Capital Structure Management Capitalization Theories of Capital Structure Management Cost of Capital Concept of Time Value of Money Introduction Time Value of Money Future Value of Cash Flow Present Value of Cash Flow Net Present Value of Cash Flow Determining Internal Rate of Return Project Selection and Evaluation Capital Rationing Capital Budgeting Evaluation of Capital Budgeting Numerical Questions Working Capital Management Introduction Concept of Working Capital Management Principles of Working Capital Management Factors Affecting Working Capital Management Working Capital and Operating Cycle Financing of Working Capital Requirement Recommendations of Committees on Working Capital Management Dividend Policy Introduction Dividend Policy Approaches to Dividend Policy Factors Determining Dividend Policy Types of Dividend Policy Forms of Dividend Payment Receivables and Inventory Management Introduction Concept of Receivables Management Objectives of Receivables Management Credit Policies Credit Terms Collection Policies Concept of Inventory Management Objectives of Inventory Management Tools and Techniques of Inventory Management Reorder Point Safety Stock Corporate Restructuring and Mergers Introduction Concept of Corporate Restructuring Types of Mergers Benefits of Mergers Determining the Organization's Value Financing Techniques in Mergers Merger as a Capital Budgeting Decision Tax Aspects Related to Merger Legal and Procedural Aspects of Mergers Risk and Return Analysis Introduction Risk and Return of Single Assets Return and Risk of Portfolio Selection of Portfolio Capital Asset Pricing Model (CAPM) Risk Evaluation Methods Management of Cash and Marketable Securities Introduction Objectives of Cash Management Motives for Holding Cash Cash Budgeting Factors Determining Cash Needs Techniques of Cash Management Marketable Securities Case Studies