This text emphasizes the financial concepts and tools that are essential for understanding fundamental business decisions taking the stance that business can be viewed as dynamic, integrated system of funds flows which are activated by management decision. The subjects are related to the business systems concept, with creation of shareholder value seen as the ultimate goal of investment, operating and financial decisions. The illustrative examples given are based on a single company in the early chapters, so that the results of the analytical techniques build into a complete picture. This edition places emphasis on modern topics like shareholder valve creation, leasing versus owning, cash flow analysis and economic trade-offs.
Professor Helfert's graphic presentations have caused concepts to gel that were amorphous in my mind for years despite an investment banking background. I would recommend this book as a first book to anyone interested in quickly obtaining a bird's eye view of the business entity from a "business systems" approach. Helfert's position is that of an engineer or a scientist: Every business has a structure that can be indentified, analyzed, and then manipulated to increase shareholder value.Every new issue refers back to the Investment, Operations, Financing structure Helfert lucidly charts out in the introductory chapter. If this is old hat to you, and you've read Corp. Fin. by Brealy & Meyers (sp?), maybe you don't need this book. All others: BUY IT!!!
It's the best book that I had read
Published by Thriftbooks.com User , 25 years ago
I read russian translation of this book. There are only 8000 examples in russian and this book became a deficit in 1996 (when it was published in Russia). Now I want to read the English (original) version of this wonderful book. The most impressions are from the detailed (comprehensive) theory with detailed exercises and notes.Let say my Great Thanks to author for his excellent book.With regards, Sergey Krupin
A great reference for business analysis
Published by Thriftbooks.com User , 26 years ago
I bought an earlier version of this book many years ago and just bought the latest edition to replace the first copy that was loaned out and never returned. It's one of those books that you constantly go back to to confirm what you are doing. The book is well written, concise and covers material in a number of college level finanical courses. For the general Accountant, it is a learning tool and for the experienced Financial Analyst, an excellent reference.
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