New Features

• SmartBook SmartBook is the first and only adaptive reading experience available for the higher education market. Powered by an intelligent diagnostic and adaptive engine, SmartBook facilitates the reading process by identifying what content a student knows and doesn't know through adaptive assessments. As the student reads, the reading material constantly adapts to ensure the student is focused on the content he or she needs the most to close any knowledge gaps.
  
  
• McGraw-Hill's Connect Finance. Connect Finance offers a number of powerful tools and features to make managing assignments easier, so you can spend more time teaching. Students can engage with their coursework anytime and anywhere, making the learning process more accessible and efficient. In short, Connect Finance facilitates student learning and optimizes your time and energies, enabling you to focus on course content, teaching, and student learning.
  
  
  • NEW! The LearnSmart adaptive self-study technology within Connect Finance provides students with a seamless combination of practice, assessment, and remediation for every concept in the textbook. LearnSmart’s intelligent software adapts to every student response and automatically delivers concepts that advance students’ understanding while reducing time devoted to the concepts already mastered. The result for every student is the fastest path to mastery of the chapter concepts.
    
    
  • Create and deliver online, auto-graded homework assignments, quizzes, and tests directly from the end-of-chapter materials or test bank. Problems are available as both static and algorithmic problems.
    
    
  • Prep Courses are available for Math, Statistics, Accounting, and Economics, and are comprised of animated tutorial modules with quiz questions. They get students up to speed on the basics so they will be ready for more complex Finance topics, and you can save time in class.
    
    
  • End-of-chapter problems offer Guided Examples next to the assigned problems to show how to work through a similar problem. Students can learn from this video to then solve their own assigned problems.
    
    
  • Students receive immediate, detailed feedback on their assignments, allowing them to focus on the areas where they need improvement.
    
    
  • Pre-built assignments are available to save you set up time.
    
    
  • Questions mapped to AACSB skill areas, Bloom’s Taxonomy levels, and difficulty level enable you to run reports that assess specific learning outcomes.
    
    
  • Tegrity Campus makes class time available 24/7 by automatically capturing every lecture in a searchable format for students to review when they study and complete assignments. With a simple one-click start-and-stop process, you capture all computer screens and corresponding audio. Students can replay any part of any class with easy-to-use browser-based viewing on a PC or Mac.
    
    
• Connect Plus Finance. This packaging option combines all the great features of Connect Finance, along with access to an online version of Foundations of Financial Management, 15e, so that students can easily refer back to the text for review and guidance. This media rich e-book links directly to tutorials and online resources.
  
  
• The authors have integrated Excel examples and spreadsheet tables throughout the capital budging chapters. In addition, the time value of money chapter has been completely reworked to include equations, calculator keystrokes, and Excel spreadsheets while at the same time maintaining the use of tables. Calculator, Excel, and formula solutions have been added to the Solutions Manual.
  
  
• Key content updates and additions include:
  • New section on the Dodd-Frank Act and an updated discussion of the financial crisis (Chapter 1)
    
    
  • Reworked financial forecasting materials using Excel spreadsheets (Chapter 4)
    
    
  • Updated discussion on the term structure of interest rates to reflect the low interest rate environment of the past several years (Chapter 6)
    
    
  • New discussion of the risk caused by the U.S. Congress’s inability to reach an agreement on spending and taxing policies (Chapter 13)
    
    
  • New section on tax implications for investors reflects the impact of the American Taxpayer Relief Act of 2013 (Chapter 18)
    
    
  • Updated hedging examples using forward and futures contracts (Chapter 21)
    
    

See book preface for more updates and additions.

Retained Features

• Functional Integration: The authors have taken great care to include examples that are not just applicable to finance, but also to the marketing, management, and accounting majors. This results in more engaged students who see the class’s relevance to their own studies.
  
  
• Small business emphasis: More than two-thirds of jobs created in the U.S. economy are from small businesses, so the authors continue to note when specific financial techniques are performed differently by large and small businesses.
  
  
• In-book acetates on the Time Value of Money (Chapter 9) help instructors communicate this often challenging subject to students in a clear, step-by-step way. They visually relate future values and present values.
  
  
• Rich end-of-chapter material includes a summary, review of formulas, list of key terms, discussion questions and problems, comprehensive problems (in select chapters), Web exercises and practice problems with solutions. The authors write all their own questions, problems, and solutions, so great care has been taken to make them consistent with the chapter material. There are more than 250 questions and 500 problems in this edition to reinforce and test student understanding.
  
  
• The functional use of four colors enhances the understanding of tables, graphs, and exhibits. Color is an integral part of the presentation of finance topics to assist understanding and retaining the concepts being discussed. For example, red stands for short-term financing in some figures, while blue stands for long-term financing.
  
  
• Comprehensive problems integrate and require the application of several financial concepts into one problem.