Count on the renowned author team that's First in Finance to deliver a unique balance of clear concepts, contemporary theory, and practical applications that ensures a thorough understanding of today's corporate finance and financial management. Brigham/Houston's FUNDAMENTALS OF FINANCIAL MANAGEMENT, 12E presents a solid, focused foundation in financial basics punctuated with timely actual examples, end-of-chapter applications, and Integrated Cases that make it easier to understand the how and why of corporate budgeting, financing, and working capital decision making. The book's presentation of Time Value of Money (TVM) is repositioned so readers can immediately begin using the concepts after learning them. THOMSON ONE-BUSINESS SCHOOL EDITION accompanies this edition, offering the same financial online database used by professionals on Wall Street every day. FUNDAMENTALS OF FINANCIAL MANAGEMENT, 12E also offers APLIA FOR FINANCE, the leading homework solution tool in educational publishing today. Trust the strengths in Brigham/Houston's market-leading FUNDAMENTALS OF FINANCIAL MANAGEMENT, 12E for the First in Finance time and time again.

Brigham and Houston (U. of Florida) provide an introductory textbook on financial management, structured around markets and valuation. Recent events and changes in the labor market and technology, as well as financial scandals, are discussed in this edition from financial and ethical perspectives. The authors have also added more examples to increase student interest, and self-tests are provided after each section. End-of-chapter problems are ranked by difficulty instead of topic, and an improved test bank and more coverage of the time value of money are included. Other information has been reorganized and clarified. Annotation ©2007 Book News, Inc., Portland, OR (booknews.com)

"Brigham/Houston: A Classic, redefined...because a classic never goes out of style." The market leader, Brigham/Houston, continues to grow in reputation and amount of users as the most effective approach for teaching the first undergraduate corporate finance course. The seamless, integrated ancillary package, still painstakingly prepared by the authors, is a hallmark of the Brigham/Houston package which reduces course preparation time for instructors and makes the subject more accessible for learners. New for this edition is the addition of iLrn Finance, an online student assessment and tutorial resource to help improve student performance. Additionally, access to Thomson ONE - Business School Edition, an online financial database that students can use to complete projects or select end of chapter exercises, is included with each new text.

Dr. Eugene F. Brigham is Graduate Research Professor Emeritus at the University of Florida, where he has taught since 1971. Dr. Brigham received his M.B.A. and Ph.D. from the University of California-Berkeley and his undergraduate degree from the University of North Carolina. Prior to coming to the University of Florida, Dr. Brigham held teaching positions at the University of Connecticut, the University of Wisconsin, and the University of California-Los Angeles. Dr. Brigham served as president of the Financial Management Association and wrote more than the 40 journal articles on the cost of capital, capital structure, and other aspects of financial management. The ten textbooks on managerial finance and managerial economics that he authored or co-authored are used at more than 1,000 universities in the United States, and have been translated into 11 languages worldwide. He has testified as an expert witness in numerous electric, gas, and telephone rate cases at both federal and state levels. He has served as a consultant to many corporations and government agencies, including the Federal Reserve Board, the Federal Home Loan Bank Board, the U.S. Office of Telecommunications Policy, and the RAND Corporation. Dr. Brigham continues to teach, consult, and do research, as well as work on textbooks. He spends his spare time on the golf course, enjoying time with his family and dogs, and tackling outdoor adventure activities, such as biking through Alaska.Joel F. Houston is a Bank of America Professor of Finance at the University of Florida. He received his M.A. and Ph.D. from the Wharton School at the University of Pennsylvania and his undergraduate degree from Franklin and Marshall College. Prior to his appointment at the University of Florida, Dr. Houston was an Economist at the Federal Reserve Bank of Philadelphia. Dr. Houston has published widely in the areas of corporate finance and commercial banking. His research focuses primarily on the role of financial institutions in the capital acquisition process and mergers in the banking industry. In addition to co-authoring leading textbooks in financial management, Dr. Houston has participated in management education programs for the World Bank, Southern Company, and Service America Corporation. Dr. Houston received the College of Business Teacher of the Year Award in 1992, 1997, and 1999 and was a recipient of the Teaching Incentive Program Award in 1993 and 1996. Apart from his professional activities, Dr. Houston coaches baseball in his spare time and enjoys spending time at the beach with his wife and two children. He is an avid sports fan and loyally follows the Florida Gators and Pittsburgh Steelers.

PART 1: INTRODUCTION TO FINANCIAL MANAGEMENT. 1. An Overview of Financial Management. PART 2: FUNDAMENTAL CONCEPTS IN FINANCIAL MANAGEMENT. 2. Time Value of Money. 3. Financial Statements, Cash Flow, and Taxes. 4. Analysis of Financial Statements. 5. Financial Markets and Institutions. PART 3: FINANCIAL ASSETS. 6. Interest Rates. 7. Bonds and Their Valuation. 8. Risk and Rates of Return. 9. Stocks and Their Valuation. PART 4: INVESTING IN LONG-TERM ASSETS: CAPITAL BUDGETING. 10. The Cost of Capital. 11. The Basics of Capital Budgeting. 12. Cash Flow Estimation and Risk Analysis. 13. Other Topics in Capital Budgeting. PART 5: CAPITAL STRUCTURE AND DIVIDEND POLICY. 14. Capital Structure and Leverage. 15. Distributions to Shareholders: Dividends and Share Repurchases. PART 6: WORKING CAPITAL AND FINANCIAL PLANNING. 16. Working Capital Management. 17. Financial Planning and Forecasting. PART 7: SPECIAL TOPICS IN FINANCIAL MANAGEMENT. 18. Derivatives and Risk Management. 19. Multinational Financial Management. 20. Hybrid Financing: Preferred Stock, Leasing, Warrants, and Convertibles. 21. Mergers and Acquisitions.