About this publication

Now in its 9th edition, Financial Management is the leading text on the theory and application of corporate finance in southern Africa. Set against the backdrop of recent developments in financial markets, instruments and financial theory, the text refers to real-world applications and financial decisions by South African companies.

Key Features

• Behavioural Finance and how biases can impact on corporate financial decision making
• Sections on market efficiency, market anomalies, ETFs and investor behaviour
• The text meets the requirements of Version 10 of SAICA’s Competency Framework, effective from January 2019, in respect to financial management, financial risk management and corporate strategy
• Incorporates the latest developments that affect corporate finance: King IV; tax legislation; the Companies Act; rules of the JSE and capital markets; International Financial Reporting Standards (IFRS); official guidelines on corporate valuations and integrated reporting, business rescue, rules on mergers and acquisition and competition law.
• Expansion of sections on the use and drawbacks of IRR and Excel functions such as XNPV and XIRR
• A section on short-selling of shares and expansion of the chapter on derivatives
• Expansion of sections on forecasting and the market and income approaches to valuation

Content

1. Overview of financial management
2. The time value of money
3. Risk and return
4. Portfolio management
5. Financial statement analysis
6. Valuations
7. The cost of capital
8. Capital budgeting
9. Further issues in capital budgeting
10. Capital budgeting: risk analysis
11. Working capital
12. Current assist management and short-term financing
13. Sources of finance
14. Capital structure
15. Leasing
16. Dividends and share buy-backs
17. Mergers, acquisitions and corporate restructuring
18. Risk management and derivatives
19. International financial management
20. Business planning and financial modelling
21. Corporate strategy and business models