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Financial Management for Small Businesses

Financial Statements & Present Value Models

by Lindon Robison, Steven Hanson, J. Roy Black

Financial Management for Small Businesses

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Book Description

This book is for those whose financial management focus is on small businesses. For you, we adapt the traditional financial management themes emphasized in corporate financial management courses to meet the needs of small businesses.

Many financial managers of small businesses come from farms or agribusinesses. Others are interested in working for or starting businesses in the food or retail sectors. In most cases, these businesses aren't organized as C-corporations impacting things like taxes, depreciation, and legal requirements around compiling and reporting financial data. They are rarely publicly traded which creates unique constraints to raising debt and equity capital and calculating required risk-adjusted returns.

These financial managers are interested in solving specific problems they face in family or small businesses. They want to know how to apply the tools they are learning - coordinated financial statement analysis, present value analysis, management of cash flow, measuring their opportunity costs, etc. - to the problems they face at home. As we started to work on the actual problems faced by these managers, it quickly became clear that corporate finance tools don't exactly fit the small businesses they come from. Further, in attempting to tackle the problems they bring, we learned that finding and/or constructing the data needed for financial management is another skill set often overlooked and in need of development. In the end, after investing a lot of time, we found that - without adaptation - corporate finance theory as traditionally taught doesn't meet the knowledge needs and application skills of financial managers of small businesses. We wrote this book to be a catalyst that enables students and managers of small businesses to learn the tools and skill sets that will help them make sound financial management decisions.

This open book is licensed under a Creative Commons License (CC BY). You can download Financial Management for Small Businesses ebook for free in PDF format (7.5 MB).

Table of Contents

PART I
MANAGEMENT
Chapter 1
Financial Management and the Firm
Chapter 2
Alternative Forms of Business Organizations
Chapter 3
The Federal Tax System
Chapter 4
Managing Risk
PART II
STRENGTHS, WEAKNESSES, OPPORTUNITIES, AND THREATS
Chapter 5
Financial Statements
Chapter 6
Financial Ratios
Chapter 7
System Analysis
PART III
PRESENT VALUE MODELS
Chapter 8
Present Value Models & Accrual Income Statements
Chapter 9
Present Value Models
Chapter 10
Incremental Investments
Chapter 11
Forecasting and Present Value Models
PART IV
HOMOGENEOUS MEASURES
Chapter 12
Ranking Investments and Homogeneous Measures
Chapter 13
Homogeneous Sizes
Chapter 14
Homogeneous Terms
Chapter 15
Homogeneous Tax Rates
Chapter 16
Homogeneous Liquidity and Currency
PART V
PRESENT VALUE MODEL APPLICATIONS
Chapter 17
Loan Analysis
Chapter 18
Land Investments
Chapter 19
Leases
Chapter 20
Financial Investments
Chapter 21
Yield Curves
Chapter 22
Econs and Humans

Book Details

Title
Financial Management for Small Businesses
Subject
Economics and Finance
Publisher
Michigan State University
Published
2021
Pages
588
Edition
2
Language
English
ISBN13 Digital
9781626101142
ISBN10 Digital
1626101140
PDF Size
7.5 MB
License
CC BY

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