This book is a supplementary resource to "Financial Management: A Comprehensive Guide" by Azhar ul Haque Sario.
Mastering Financial Management is an indispensable resource for anyone seeking a comprehensive understanding of financial management. The book is designed to help readers understand the intricacies of managing financial resources effectively, covering a wide range of topics that will help readers measure corporate achievements, set financial objectives, and analyze investment opportunities. Readers are introduced to macroeconomic policy targets and techniques for appraising investments, exploring discounted cash flow analysis, analyzing leasing versus borrowing, working capital management, and the cost of capital.
One of the strengths of Mastering Financial Management is its comprehensive coverage of financial markets, including stocks and corporate bonds. Readers gain an in-depth understanding of the various interest-bearing instruments of the money market, such as treasury bills, certificates of deposit, and commercial paper. Additionally, readers are introduced to derivative products like futures contracts, options contracts, forward contracts, and swaps contracts.
The book extensively covers cost of capital, a crucial metric in determining the financial viability of investments. Readers are taken through detailed discussions of various concepts, including the cost of equity, systematic, and unsystematic risk, and the capital asset pricing model (CAPM). The book walks readers through calculating the weighted average cost of capital (WACC) using book value and market value weightings. It also discusses traditional views of capital structure and Miller-Modigliani theory of capital structure under different tax regimes.
One unique aspect of Mastering Financial Management is its emphasis on providing readers with numerous practice problems and their solutions. This feature makes it an ideal supplementary book for those seeking hands-on experience with financial management. Whether you're a student studying finance, an investor looking to sharpen your skills or a business owner seeking to optimize your company's financial management, this book is an invaluable resource.
It's, however, worth noting that Mastering Financial Management provides only practice questions and solutions on almost all financial management subjects. It does not offer any comprehensive theory or examples in detail, making it more of a supplementary resource than a stand-alone reference. As such, readers seeking a deeper understanding of key concepts in financial management may need to supplement this book with additional resources.
Despite this limitation, Mastering Financial Management remains an essential tool for anyone looking to gain a comprehensive understanding of financial management and handle financial resources effectively. With its extensive coverage of critical financial metrics and hands-on practice problems, this book is an invaluable asset for students, investors, and business owners seeking to optimize their financial management skills.