Entrepreneurial Financial Management An Applied Approach

ISBN-10: 0765627264

ISBN-13: 9780765627261

Edition: 3rd 2013 (Revised)

Authors: Jeffrey R. Cornwall, David O. Vang, Jean M. Hartman

List price: $79.95
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This new edition presents an applied, realistic view of entrepreneurial finance for today's entrepreneur. The book provides an integrated set of concepts and applications, drawing from entrepreneurship, finance, and accounting. The book's contents are designed to follow the life cycle of a new business venture. Topics are presented in a logical order, as entrepreneurs will likely face them as they begin the process of business start-up and move into growing the business.Key changes to this edition include:--Added material on how the book's financial templates align with business modeling.--The impact of the 2008 recession and its economic realities are addressed throughout the book.--The Millennial Generation's unique aspirations and goals are discussed in terms of entrepreneurship.--The debt and equity financing section has been updated to reflect changes in regulations and evolving investor expectations.--The bootstrapping chapter has been revised to reflect the explosion of social media and its impact on bootstrap marketing.--The impact of the 2008 recession on the exit process for entrepreneurs.A comprehensive spreadsheet financial template is included with the book. This tool allows for the application of many of the concepts to actual businesses, and will be a valuable supplement to the process of developing a full business plan. The spreadsheet financial templates are available for unlimited free downloads at www.drjeffcornwall.com.
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Book details

List price: $79.95
Edition: 3rd
Copyright year: 2013
Publisher: Routledge
Publication date: 10/15/2012
Binding: Paperback
Pages: 312
Size: 7.25" wide x 9.25" long x 0.75" tall
Weight: 1.518
Language: English

The Importance of Knowing the Numbers
Measuring Success
What Is Entrepreneurial Finance Management?
What Makes Entrepreneurial Finance Similar to Traditional Finance?
What Makes Entrepreneurial Finance Different from Traditional Finance?
How the Lack of Historical Data and Liquidity Complicates the Practice of Finance in Early Stage Firms
Using Stakeholder Analysis to Guide Ethical Decision Making
Building a Financial Forecast
Setting Financial Goals
Wealth Versus Income
Integrating Nonfinancial Goals into the Business
The Importance of Self-Assessment
The Self-Assessment Process
The Business Model and Business Plan
Individual Entrepreneurial Self-Assessment
Partnership and Shareholder Assessment
Understanding Financial Statements
The Accounting Equation
An Example
Basic Financial Statements
The Limitations of Business Financial Statements
Revenue Forecasting
Common forecasting Mistakes
The Link Between the Marketing Plan and Revenue Forecasts
Creating Scenarios
The Link Between the Revenue Forecast and the Cash Flow Forecast
The Impact of Business Type on Revenues
Quantitative Forecasting Techniques
The Importance of Revenue Forecasting
Expense Forecasting
Defining Costs
Cost Behavior
Breakeven Analysis
Expense Forecasting: Impact of Business Type on Expenses
Reducing Expenses Through Bootstrapping
Integrated Financial Model
The Entrepreneur's Aspirations Reconsidered
Contribution Format Income Statement
Earnings Before Interest and Taxes
Inventory of Assumptions
Social Ventures
Determining the Amount of Funds Needed
Using the Forecasting Template to Determine the Amount of Funds Needed
Time Out of Cash
Assessment of Risk Sensitivity
Integrating Financial Forecasts into Business Plan or Funding Document
Instructions for Using the Integrated Financial Statements Template
Managing the Financial Resources of a Venture
Monitoring Financial Performance
Tracking Assumptions
Establishing Milestones
Using Numbers to Manage
Financial Statement Analysis
Ratio Analysis
Working with Accountants
Day-to-Day Cash Flow Management and Forecasting
Why Is Cash Flow Different from Net Income?
Why Is an Accural-Based Income Statement Important?
How Is Cash Flow Measured?
Interpreting a Statement of Cash Flows: Direct Method
Statement of Cash Flows: Indirect Method
Investors' and Creditors' Use of the Cash Flow Statement
Effective Cash Management
The Emotional Side of Cash Flow Management
Sources of Financing
Financing Over the Life of a Venture
Common Misconceptions About Entrepreneurial Financing
The Diverse Nature of Business Financing
Financing Small Businesses with Modest Growth Potential
Financing High-Growth, High-Potential Ventures
Start-Up Financing from the Entrepreneur, Friends, and Family
Advantages and Disadvantages of Self-Financing
Friends and Family Financing
Structure of Funds Invested
Why Bootstrap?
Bootstrapping Administrative Overhead
Bootstrapping Employee Expenses
Bootstrapping Operating Expenses
Bootstrap Marketing
The Ethics of Bootstrapping
External Sources of Funds: Equity
Angel Investors
Strategic Partners
Private Placement
The Downside of Equity Financing
Working with Outside Investors
External Sources of Funds: Debt
Short-Term Debt
Long-Term Debt
Forms of Debt Overlooked by Entrepreneurs
Government Funding Through SBA
Working with Bankers
The Downside of Debt
Developing a Financing Plan
Financing the High-Growth Business
Integrating Profitability into the Business Plan
Stages of the Firm
Stages of Business Funding
The Dark Side of Venture Capital Financing
Initial Contact with a Venture Capitalist
Initial Public Offering
The Process of the IPO
Planning for the Entrepreneur's Transition
Business Valuation
General Concepts That Guide the Determination of Value
Basic Information Required for a Valuation
Discounted Cash Flow
Market Comparison Techniques
Exit Planning
Self-Assessment Revisited
The Ethical Side of the Entrepreneur's Transition
A Model of Exit Planning
Exit Options
The Process of Selling a Business
Postexit Issues
About the Authors
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