This text extends students' knowledge of basic financial management concepts and provides insight into the complexity of the decisions faced by practising financial managers. One of the text's predominant strengths is its clarity and user friendliness. The new Chapter 2, 'A Review of Financial Tools', has the basics and notation of time of money, bond and stock valuation and risk and return, and examples and problems. Includes detailed coverage of risk and return and the bond and new material on the managerial use of financial statements has been added.