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| Introduction | |
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| Organization of the Firm | |
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| A Basic Understanding of Financial Management | |
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| Wealth Maximization | |
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| A General Outline of the Textbook | |
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| Financial Markets and Financial Instruments | |
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| Why People Invest | |
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| Capital Markets | |
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| Money Market | |
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| Raising Financial Capital and Security Trading | |
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| Financial Markets and Hedging Risk | |
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| Key Financial Intermediaries: Lenders to the Hospitality Industry | |
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| Stock Market Performance | |
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| Review of Financial Statements and Selected Ratios | |
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| Review of the Income Statement | |
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| Review of the Balance Sheet | |
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| Relationship Between the Income Statement and the Balance Sheet | |
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| Statement of Retained Earnings | |
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| Statement of Cash Flows | |
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| Validity of Financial Statements | |
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| Ratio Analysis | |
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| Perspectives on and Limitations of Ratio Analysis | |
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| The Relationship Between Risk and Return | |
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| How Typical Investors Feel About Risk | |
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| Returns and Distributions | |
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| Diversification | |
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| The Market Portfolio | |
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| The Market Portfolio and Beta | |
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| Beta, Expected Return and the Security Market Line | |
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| Time Value of Money | |
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| Future Value-Compounding | |
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| Present Value-Discounting | |
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| Future Value of an Annuity | |
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| Present Value of an Annuity | |
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| Perpetuity-An Infinite Annuity | |
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| Present Value of a Series of Non-Constant Cash Flows | |
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| Compounding Periods Other Than Annual | |
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| Effective Annual Rates | |
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| Amortized Loans | |
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| Fixed Income Securities: Bonds & Preferred Stock | |
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| Basic Bond Terminology | |
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| Bond Features | |
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| Bond Ratings | |
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| Valuing Corporate Bonds | |
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| Computing Yield to Maturity on Corporate Bonds | |
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| Bonds with Semi-Annual Coupon Payments | |
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| Basic Preferred Stock Terminology | |
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| Preferred Stock Features | |
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| Valuing Preferred Stock | |
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| Common Stock | |
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| Common Stock Features | |
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| Valuing Common Stock | |
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| General Dividend Valuation Model | |
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| Zero-Growth Dividend Valuation Model | |
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| Constant-Growth Dividend Valuation Model | |
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| Valuing Common Stock with Multiple Growth Rates | |
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| Common Stock Value, Investors Rate of Return and Growth | |
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| Cost of Capital | |
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| The Weighted Average Cost of Capital | |
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| Estimating the Cost of Capital Components | |
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| The Cost of Debt | |
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| The Cost of Preferred Stock | |
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| Internal Common Equity-New Retained Earnings | |
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| Dividend Valuation Model Method for Estimating the Cost of Internal Equity | |
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| The Bond Yield Plus Risk Premium Method for Estimating the Cost of Internal Equity | |
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| External Common Equity-New Issues of Common Stock | |
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| Computation of the Weighted Average Cost of Capital | |
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| Using the Weighted Average Cost of Capital | |
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| Introduction to Capital Budgeting and Cash Flow Estimation | |
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| Classifying Capital Budgeting Projects | |
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| The Captial Budgeting Decision and Cash Flow Estimation | |
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| Capital Budgeting Decision Methods | |
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| Captial Budgeting Decision Methods | |
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| Independent Projects and Capital Budgeting Decision Methods | |
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| Mutually Exclusive Projects and Capital Budgeting | |
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| Not Normal Cash Flows | |
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| The Use of Captial Budgeting Decision Methods | |
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| An Introduction to Hotel Valuation | |
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| Reasons for a Hotel Appraisal | |
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| The Hotel Appraisal Process | |
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| Approaches to Value | |
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| A Rule of Thumb Approach and Revenue Multipliers | |
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| Final Reconciliation of Value | |
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| Capital Structure | |