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Entrepreneurial Finance (6th Edition), by Philip J. Adelman, Alan M. Marks
Download Entrepreneurial Finance (6th Edition), by Philip J. Adelman, Alan M. Marks
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For many, starting a business can be an overwhelming experience. Understanding the financial aspects of running a business can be even more daunting. Entrepreneurial Finance, Sixth Edition was written to help a broad range of U.S. business owners understand the financial aspects of entrepreneurship. Unlike traditional corporate finance books, this text explains the financial topics most important to running a profitable small business suchasinventory control, time value of money, working capital management, and forecasting. Updated to reflect recent economic trends, this edition also shows how two popular business tools (excel and TI BA II Plus calculator) can assist business owners in problem-solving and decision-making.
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Features
Tackles the financial aspects of business entrepreneurship—from business planning to inventory control, to time value of money, to working capital management, to forecasting and financial planning for both the entrepreneur and the business.��
Provides critical background knowledge—by presenting basic economic and financial concepts early in the text.�
Explains the different types of small businesses—by examining the financial statements for Sole Proprietorships, Partnerships, LLCs and Corporations.��
Explains all six time value of money formulas—and their application in both personal financial planning and business financial planning.��
Offers a glimpse at real small businesses—using short end-of-chapter case studies.��
Shows how to solve sample problems—using excel and the Texas Instruments BAII Plus calculator.���
Includes time value of money tables—see Appendix B.
- Sales Rank: #84616 in Books
- Published on: 2013-04-05
- Original language: English
- Number of items: 1
- Dimensions: 9.89" h x 1.08" w x 8.17" l, 1.75 pounds
- Binding: Paperback
- 504 pages
Most helpful customer reviews
4 of 4 people found the following review helpful.
Ok... but I expected more....
By A Customer
Pros:
Definitions and concepts are introduced one at a time most of the time. Glossary is provided. Answers in even number problems are provided. Review and Discussion Questions are provided with no answers, but they can be easily checked in the corresponding chapters. Included in Appendix D is a case study on a donut shop of small business finance.
Cons:
Useless Excel spreadsheets that come with CD. The authors include Excel tables used in each chapters. Many times figures are HARD TYPED, not derived from formulas. Some people may want to use the spreadsheets for their own needs, but this practice diminishes the point of using a spreadsheet. Some concepts are not clearly or completely explained such as future value of an ordinary annuity, and EOQ (basically formulas in chap 8). The derivations of formulas are not provided, which let the reader merely memorize and simply plug in values in the formula without understanding the context to use and the assumptions. "Entrepreneurial" contents are scarce considering the intent of the book, which barely distinguishes itself from other typical corporate finance books. I would like to see more real life case studies such as the one in Appendix D, so that material learned throughout chapters can be demonstrated in the context and in a coherent manner. Interdependences and relations of concepts should be explicitly iterated and be shown with visual aids.
Prerequisite:
Basic algebra at junior high school level, including power, logarithm and summation. No prior knowledge of finance is assumed.
Comment:
I would look elsewhere for a basic finance book with more of application and implementation tastes. This may -not be fair to the authors' intention, but hands-on modeling with spreadsheet is a better and more sophisticated approach to me. I recommend to read any introductory finance book that explains concepts and their interdependence very well, then move on to a spreadsheet modeling book for implementation such as Financial Modeling by Benninga, Practical Management Science by Winston and Albright, Excel 2000 Formulas by Walkenbach, and Financial Models Using Simulation and Optimization by Winston.
1 of 1 people found the following review helpful.
Useful Textbook
By Djcool955555
A nice useful textbook on small business finance. I had the previous edition as well, and there didn't seem to be much new in this one, so whether you need the new edition will depend on your class. Very useful and informative regardless.
0 of 0 people found the following review helpful.
Lousy book
By Shaofu Chang
Introduction expressly mentioned that one does not need to possess any financial or business background to understand the concepts, this is only partially true. It starts out fine then got more and more ambiguous. Not abstract, ambiguous. It ends by presenting some number, usually a decimal, then by way of saying something previously discussed, it turns into this number. And then there's this, but wait there's this too, and that, and finally you take this and voila, here's your new number. Never did tell where to find this or that, etc. just present it and assume the reader knows precisely what the devil he's talking about. I don't recall the last time when I have read through a chapter that takes only a half hour over and over for three hours and not able to grasp an inkling of the logic flow the author is trying to get at. Apparently I'm not the only one. The last few chapters [9-11] stumped most if not our entire class assembly and more than one book exercises left out pertinent information necessary to solve the problems. The professors equally stumped on a few because while the exercises left those critical values out, but the solutions manual had them in. I have not had a finance textbook lose this many points since I started College.
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