Note: Supplemental materials are not guaranteed with Rental or Used book purchases.
Purchase Benefits
What is included with this book?
Preface | p. iv |
Introduction to Financial Management | p. 1 |
An Overview of Financial Management | p. 2 |
Striking the Right Balance | p. 2 |
Putting Things in Perspective | p. 3 |
Forms of Business Organization | p. 4 |
Stock Prices and Shareholder Value | p. 6 |
Intrinsic Values, Stock Prices, and Compensation Plans | p. 8 |
Some Important Trends | p. 11 |
Is Shareholder Wealth Maximization a Worldwide Goal? | p. 12 |
Business Ethics | p. 12 |
What Companies Are Doing | p. 13 |
Consequences of Unethical Behavior | p. 13 |
How Should Employees Deal with Unethical Behavior? | p. 14 |
Protection for Whistle-Blowers | p. 15 |
Conflicts between Managers and Stockholders | p. 16 |
The Role of Finance in the Organization | p. 17 |
Tying it All Together | p. 18 |
Fundamental Concepts in Financial Management | p. 23 |
Time Value of Money | p. 24 |
Will You Be Able to Retire? | p. 24 |
Putting Things in Perspective | p. 24 |
Time Lines | p. 25 |
Future Values | p. 26 |
Simple versus Compound Interest | p. 27 |
Step-by-Step Approach | p. 27 |
Formula Approach | p. 27 |
Financial Calculators | p. 28 |
Spreadsheets | p. 28 |
Hints on Using Financial Calculators | p. 29 |
Graphic View of the Compounding Process | p. 30 |
Present Values | p. 31 |
Graphic View of the Discounting Process | p. 33 |
Finding the Interest Rate, I | p. 34 |
Finding the Number of Years, N | p. 35 |
Annuities | p. 35 |
Future Value of an Ordinary Annuity | p. 36 |
Future Value of an Annuity Due | p. 38 |
Present Value of an Ordinary Annuity | p. 39 |
Finding Annuity Payments, Periods, and Interest Rates | p. 40 |
Finding Annuity Payments, PMT | p. 40 |
Finding the Number of Periods, N | p. 41 |
Finding the Interest Rate, I | p. 41 |
Perpetuities | p. 42 |
Uneven Cash Flows | p. 44 |
Future Value of an Uneven Cash Flow Stream | p. 46 |
Solving for I with Uneven Cash Flows | p. 47 |
Semiannual and Other Compounding Periods | p. 48 |
Comparing Interest Rates | p. 50 |
Fractional Time Periods | p. 52 |
Amortized Loans | p. 52 |
Tying it All Together | p. 54 |
Integrated Case: First National Bank | p. 62 |
Continuous Compounding and Discounting | |
Financial Statements, Cash Flow, and Taxes | p. 64 |
Doing Your Homework with Financial Statements | p. 64 |
Putting Things in Perspective | p. 65 |
A Brief History of Accounting and Financial Statements | p. 65 |
Financial Statements and Reports | p. 66 |
The Balance Sheet | p. 68 |
The Income Statement | p. 72 |
Net Cash Flow | p. 75 |
Statement of Cash Flows | p. 75 |
Massaging the Cash Flow Statement | p. 78 |
Statement of Retained Earnings | p. 78 |
Uses and Limitations of Financial Statements | p. 79 |
Financial Analysis on the Internet | p. 80 |
Modifying Accounting Data for Investor and Managerial Decisions | p. 81 |
Operating Assets and Operating Capital | p. 81 |
Operating Cash Flows | p. 84 |
Free Cash Flow | p. 84 |
MVA and EVA | p. 86 |
The Federal Income Tax System | p. 87 |
Corporate Taxes | p. 87 |
Personal Taxes | p. 87 |
Interest Paid | p. 87 |
Interest Earned | p. 88 |
Dividends Paid | p. 88 |
Dividends Received | p. 88 |
Tax Loss Carry-Back and Carry-Forward | p. 88 |
Capital Gains | p. 88 |
Depreciation | p. 89 |
Small Businesses | p. 89 |
Tying it All Together | p. 89 |
Integrated Case: D'Leon Inc., Part I | p. 95 |
The Federal Income Tax System | |
Analysis of Financial Statements | p. 100 |
Lessons Learned from Enron and WorldCom | p. 100 |
Putting Things in Perspective | p. 102 |
Ratio Analysis | p. 102 |
Liquidity Ratios | p. 103 |
Current Ratio | p. 103 |
Quick, or Acid Test, Ratio | p. 104 |
Asset Management Ratios | p. 104 |
Inventory Turnover Ratio | p. 105 |
Days Sales Outstanding | p. 106 |
Fixed Assets Turnover Ratio | p. 106 |
Total Assets Turnover Ratio | p. 107 |
Debt Management Ratios | p. 108 |
Total Debt to Total Assets | p. 110 |
Times-Interest-Earned Ratio | p. 110 |
EBITDA Coverage Ratio | p. 111 |
Profitability Ratios | p. 112 |
Profit Margin on Sales | p. 112 |
Global Perspectives: Global Accounting Standards: Can One Size Fit All? | p. 113 |
Return on Total Assets | p. 114 |
Basic Earning Power (BEP) Ratio | p. 114 |
Return on Common Equity | p. 115 |
Market Value Ratios | p. 115 |
Price/Earnings Ratio | p. 116 |
Price/Cash Flow Ratio | p. 116 |
Market/Book Ratio | p. 116 |
Trend Analysis | p. 118 |
Tying the Ratios Together: The Du Pont Equations | p. 118 |
Comparative Ratios and "Benchmarking" | p. 121 |
Looking for Warning Signs within the Financial Statements | p. 123 |
Uses and Limitations of Ratio Analysis | p. 124 |
Problems with ROE | p. 125 |
EVA and ROE | p. 126 |
Looking Beyond the Numbers | p. 128 |
Tying it All Together | p. 129 |
Integrated Case: D'Leon Inc., Part II | p. 136 |
Financial Markets and Institutions | p. 141 |
A Strong Financial System Is Necessary for a Growing and Prosperous Economy | p. 141 |
Putting Things in Perspective | p. 142 |
An Overview of the Capital Allocation Process | p. 143 |
Financial Markets | p. 145 |
Types of Markets | p. 145 |
Recent Trends | p. 146 |
Financial Institutions | p. 148 |
The Stock Market | p. 153 |
Citigroup Built to Compete in a Changing Environment | p. 154 |
The Physical Location Stock Exchanges | p. 154 |
The NYSE and Nasdaq Combine Forces with the Leading Online Trading Systems | p. 155 |
The Over-the-Counter and the Nasdaq Stock Markets | p. 156 |
The Market for Common Stock | p. 157 |
Types of Stock Market Transactions | p. 157 |
Stock Markets and Returns | p. 160 |
Stock Market Reporting | p. 160 |
Stock Market Returns | p. 162 |
Stock Market Efficiency | p. 163 |
Levels of Market Efficiency | p. 163 |
Measuring the Market | p. 164 |
Implications of Market Efficiency | p. 166 |
Is the Stock Market Efficient? | p. 167 |
A Closer Look at Behavioral Finance Theory | p. 168 |
Tying it All Together | p. 169 |
Integrated Case: Smyth Barry & Company, Part I | p. 170 |
Financial Assets | p. 173 |
Interest Rates | p. 174 |
Low Interest Rates Encourage Investment and Stimulate Consumer Spending | p. 174 |
Putting Things in Perspective | p. 175 |
The Cost of Money | p. 175 |
Interest Rate Levels | p. 176 |
The Determinants of Market Interest Rates | p. 180 |
The Real Risk-Free Rate of Interest, r* | p. 181 |
The Nominal, or Quoted, Risk-Free Rate of Interest, r[subscript RF] | p. 182 |
Inflation Premium (IP) | p. 182 |
Default Risk Premium (DRP) | p. 183 |
An Almost Riskless Treasury Bond | p. 184 |
Liquidity Premium (LP) | p. 186 |
Maturity Risk Premium (MRP) | p. 186 |
The Term Structure of Interest Rates | p. 187 |
What Determines the Shape of the Yield Curve? | p. 189 |
The Links between Expected Inflation and Interest Rates: A Closer Look | p. 192 |
Using the Yield Curve to Estimate Future Interest Rates | p. 193 |
Other Factors that Influence Interest Rate Levels | p. 196 |
Federal Reserve Policy | p. 196 |
Federal Budget Deficits or Surpluses | p. 196 |
International Factors | p. 197 |
Business Activity | p. 197 |
Global Perspectives: Measuring Country Risk | p. 198 |
Investing Overseas | p. 199 |
Interest Rates and Business Decisions | p. 199 |
Tying it All Together | p. 201 |
Integrated Case: Smyth Barry & Company, Part II | p. 206 |
Bonds and Their Valuation | p. 207 |
Sizing Up Risk in the Bond Market | p. 207 |
Putting Things in Perspective | p. 208 |
Who Issues Bonds? | p. 208 |
Key Characteristics of Bonds | p. 209 |
Par Value | p. 210 |
Coupon Interest Rate | p. 210 |
Maturity Date | p. 210 |
Call Provisions | p. 211 |
Sinking Funds | p. 211 |
Other Features | p. 212 |
Bond Valuation | p. 213 |
Bond Yields | p. 216 |
Yield to Maturity | p. 216 |
Yield to Call | p. 217 |
Current Yield | p. 218 |
Changes in Bond Values over Time | p. 218 |
Bonds with Semiannual Coupons | p. 222 |
Assessing a Bond's Riskiness | p. 223 |
Interest Rate Risk | p. 223 |
Reinvestment Rate Risk | p. 225 |
Comparing Interest Rate and Reinvestment Rate Risk | p. 226 |
Default Risk | p. 227 |
Various Types of Corporate Bonds | p. 228 |
Bond Ratings | p. 229 |
Bankruptcy and Reorganization | p. 233 |
Bond Markets | p. 234 |
Tying it All Together | p. 236 |
Intergated Case: Western Money Management Inc. | p. 243 |
Zero Coupon Bonds | |
Bankruptcy and Reorganization | |
Risk and Rates of Return | p. 244 |
No Pain No Gain | p. 244 |
Putting Things in Perspective | p. 245 |
Stand-Alone Risk | p. 246 |
Probability Distributions | p. 247 |
Expected Rate of Return | p. 248 |
Measuring Stand-Alone Risk: The Standard Deviation | p. 250 |
Using Historical Data to Measure Risk | p. 252 |
Measuring Stand-Alone Risk: The Coefficient of Variation | p. 254 |
Risk Aversion and Required Returns | p. 255 |
The Trade-Off between Risk and Return | p. 256 |
Risk in a Portfolio Context | p. 257 |
Expected Portfolio Returns, r[subscript p] | p. 258 |
Portfolio Risk | p. 259 |
The Benefits of Diversification Are More Important Than Ever | p. 263 |
Diversifiable Risk versus Market Risk | p. 263 |
The Concept of Beta | p. 266 |
Global Perspectives: The Benefits of Diversifying Overseas | p. 270 |
The Relationship between Risk and Rates of Return | p. 271 |
Estimating the Market Risk Premium | p. 272 |
The Impact of Inflation | p. 275 |
Changes in Risk Aversion | p. 275 |
Changes in a Stock's Beta Coefficient | p. 277 |
Some Concerns about Beta and the CAPM | p. 277 |
Some Concluding Thoughts: Implications for Corporate Managers and Investors | p. 278 |
Tying it All Together | p. 280 |
Integrated Case: Merrill Finch Inc. | p. 286 |
Calculating Beta Coefficients | |
Stocks and Their Valuation | p. 289 |
Searching for the Right Stock | p. 289 |
Putting Things in Perspective | p. 290 |
Legal Rights and Privileges of Common Stockholders | p. 290 |
Control of the Firm | p. 290 |
The Preemptive Right | p. 291 |
Types of Common Stock | p. 292 |
Common Stock Valuation | p. 292 |
Definitions of Terms Used in Stock Valuation Models | p. 293 |
Expected Dividends as the Basis for Stock Values | p. 294 |
Constant Growth Stocks | p. 296 |
Illustration of a Constant Growth Stock | p. 296 |
Dividend and Earnings Growth | p. 297 |
When Can the Constant Growth Model Be Used? | p. 298 |
Expected Rate of Return on a Constant Growth Stock | p. 299 |
Valuing Stocks Expected to Grow at a Nonconstant Rate | p. 300 |
Evaluating Stocks That Don't Pay Dividends | p. 304 |
Valuing the Entire Corporation | p. 305 |
The Corporate Valuation Model | p. 306 |
Other Approaches to Valuing Common Stocks | p. 308 |
Comparing the Total Company and Dividend Growth Models | p. 308 |
Stock Market Equilibrium | p. 310 |
Changes in Equilibrium Stock Prices | p. 311 |
Investing in International Stocks | p. 313 |
Preferred Stock | p. 315 |
Global Perspectives: Investing in Emerging Markets | p. 316 |
Tying it All Together | p. 316 |
Integrated Case: Mutual of Chicago Insurance Company | p. 322 |
Investing in Long-Term Assets: Capital Budgeting | p. 327 |
The Cost of Capital | p. 328 |
Creating Value at GE | p. 328 |
Putting Things in Perspective | p. 329 |
An Overview of the Weighted Average Cost of Capital | p. 329 |
Basic Definitions | p. 331 |
Cost of Debt, r[subscript d](1 - T) | p. 332 |
Cost of Preferred Stock, r[subscript p] | p. 333 |
Funny-Named Preferred-Like Securities | p. 334 |
Cost of Retained Earnings, r[subscript s] | p. 335 |
The CAPM Approach | p. 336 |
Dividend-Yield-plus-Growth-Rate, or Discounted Cash Flow (DCF), Approach | p. 336 |
Bond-Yield-plus-Risk-Premium Approach | p. 339 |
How Much Does It Cost to Raise External Capital? | p. 340 |
Cost of New Common Stock, r[subscript e] | p. 340 |
Add Flotation Costs to a Project's Cost | p. 341 |
Increase the Cost of Capital | p. 341 |
When Must External Equity Be Used? | p. 342 |
Composite, or Weighted Average, Cost of Capital, WACC | p. 343 |
Factors That Affect the WACC | p. 344 |
Factors the Firm Cannot Control | p. 344 |
Factors the Firm Can Control | p. 344 |
Global Perspectives: Global Variations in the Cost of Capital | p. 345 |
Adjusting the Cost of Capital for Risk | p. 346 |
Some Other Problems with Cost of Capital Estimates | p. 348 |
Tying it All Together | p. 349 |
Integrated Case: Coleman Technologies Inc. | p. 355 |
The Cost of New Common Stock and the WACC | |
The Basics of Capital Budgeting | p. 357 |
Competition in the Aircraft Industry | p. 357 |
Putting Things in Perspective | p. 358 |
Generating Ideas for Capital Projects | p. 358 |
Project Classifications | p. 359 |
The Net Present Value (NPV) Criterion | p. 360 |
Internal Rate of Return (IRR) | p. 363 |
Comparison of the NPV and IRR Methods | p. 364 |
NPV Profiles | p. 364 |
NPV Rankings Depend on the Cost of Capital | p. 365 |
Independent Projects | p. 367 |
Mutually Exclusive Projects | p. 367 |
Multiple IRRs | p. 369 |
Modified Internal Rate of Return (MIRR) | p. 371 |
Payback Period | p. 373 |
Conclusions on Capital Budgeting Methods | p. 375 |
Decision Criteria Used in Practice | p. 376 |
Using Capital Budgeting Techniques in Other Contexts | p. 377 |
The Post-Audit | p. 378 |
Tying it All Together | p. 379 |
Integrated Case: Allied Components Company | p. 385 |
Cash Flow Estimation and Risk Analysis | p. 387 |
Home Depot Keeps Growing | p. 387 |
Putting Things in Perspective | p. 388 |
Background on the Project | p. 388 |
Project Analysis | p. 390 |
Input Data, Part 1 | p. 390 |
Depreciation Schedule, Part 2 | p. 390 |
Salvage Value Calculations, Part 3 | p. 391 |
Projected Cash Flows, Part 4 | p. 392 |
Appraisal of the Proposed Project, Part 5 | p. 393 |
Other Points on Cash Flow Analysis | p. 394 |
Cash Flow versus Accounting Income | p. 394 |
Timing of Cash Flows | p. 395 |
Incremental Cash Flows | p. 395 |
Replacement Projects | p. 395 |
Sunk Costs | p. 395 |
Opportunity Costs | p. 396 |
Externalities | p. 396 |
Estimating Project Risk | p. 397 |
Measuring Stand-Alone Risk | p. 398 |
Sensitivity Analysis | p. 398 |
Scenario Analysis | p. 400 |
Monte Carlo Simulation | p. 401 |
Global Perspectives: Capital Budgeting Practices in the Asian/Pacific Region | p. 402 |
Different Capital Structures | p. 403 |
Introduction to Real Options | p. 403 |
Abandonment/Shutdown Options | p. 404 |
The Optimal Capital Budget | p. 406 |
Tying it All Together | p. 408 |
Integrated Case: Allied Food Products | p. 414 |
Tax Depreciation | p. 418 |
Replacement Project Analysis | |
Refunding Operations | |
Using the CAPM to Estimate the Risk-Adjusted Cost of Capital | |
Techniques for Measuring Beta Risk | |
Comparing Mutually Exclusive Projects with Unequal Lives | |
Real Options: Investment Timing, Growth, and Flexibility | |
Capital Structure and Dividend Policy | p. 421 |
Capital Structure and Leverage | p. 422 |
Debt: Rocket Booster or Anchor? | p. 422 |
Putting Things in Perspective | p. 423 |
The Target Capital Structure | p. 423 |
Business and Financial Risk | p. 424 |
Business Risk | p. 425 |
Operating Leverage | p. 427 |
Financial Risk | p. 430 |
Determining the Optimal Capital Structure | p. 436 |
WACC and Capital Structure Changes | p. 436 |
The Hamada Equation | p. 438 |
The Optimal Capital Structure | p. 439 |
Capital Structure Theory | p. 442 |
Yogi Berra on the M&M Proposition | p. 443 |
The Effect of Taxes | p. 443 |
The Effect of Potential Bankruptcy | p. 444 |
Trade-Off Theory | p. 445 |
Signaling Theory | p. 446 |
Using Debt Financing to Constrain Managers | p. 447 |
Checklist for Capital Structure Decisions | p. 448 |
Global Perspectives: Taking a Look at Global Capital Structures | p. 451 |
Variations in Capital Structures | p. 451 |
Tying it All Together | p. 452 |
Integrated Case: Campus Deli Inc. | p. 458 |
Degree of Leverage | |
Distributions to Shareholders: Dividends and Share Repurchases | p. 464 |
Microsoft Shifts Gears and Begins to Unload Part of Its Vast Cash Hoard | p. 464 |
Putting Things in Perspective | p. 465 |
Dividends versus Capital Gains: What Do Investors Prefer? | p. 465 |
Dividend Irrelevance Theory | p. 466 |
Reasons Some Investors Prefer Dividends | p. 466 |
Reasons Some Investors May Prefer Capital Gains | p. 467 |
Other Dividend Policy Issues | p. 468 |
Information Content, or Signaling, Hypothesis | p. 468 |
Clientele Effect | p. 468 |
Establishing the Dividend Policy in Practice | p. 469 |
Setting the Target Payout Ratio: The Residual Dividend Model | p. 469 |
Global Perspectives: Dividend Yields Around the World | p. 472 |
Earnings, Cash Flows, and Dividends | p. 475 |
Payment Procedures | p. 476 |
Dividend Reinvestment Plans | p. 479 |
Summary of Factors Influencing Dividend Policy | p. 480 |
Constraints | p. 480 |
Investment Opportunities | p. 480 |
Alternative Sources of Capital | p. 481 |
Effects of Dividend Policy on r[subscript s] | p. 481 |
Stock Dividends and Stock Splits | p. 481 |
Stock Splits | p. 482 |
Stock Dividends | p. 482 |
Effect on Stock Prices | p. 483 |
Stock Repurchases | p. 484 |
The Effects of Stock Repurchases | p. 484 |
Stock Repurchases Soar in 2004 | p. 485 |
Advantages of Repurchases | p. 486 |
Disadvantages of Repurchases | p. 487 |
Conclusions on Stock Repurchases | p. 487 |
Tying it All Together | p. 488 |
Integrated Case: Southeastern Steel Company | p. 494 |
An Example: The Residual Dividend Model | |
Working Capital Management, Forecasting, and Multinational Financial Management | p. 497 |
Working Capital Management | p. 498 |
Best Buy Successfully Manages Its Working Capital | p. 498 |
Putting Things in Perspective | p. 498 |
Working Capital Terminology | p. 499 |
The Cash Conversion Cycle | p. 499 |
Calculating the Targeted CCC | p. 500 |
Calculating the Actual CCC | p. 501 |
Some Firms Operate with Negative Working Capital! | p. 502 |
Alternative Current Asset Investment Policies | p. 503 |
Alternative Current Asset Financing Policies | p. 504 |
Maturity Matching, or "Self-Liquidating," Approach | p. 505 |
Aggressive Approach | p. 505 |
Conservative Approach | p. 505 |
Choosing between the Approaches | p. 507 |
The Cash Budget | p. 507 |
Cash and Marketable Securities | p. 511 |
Currency | p. 512 |
Demand Deposits | p. 512 |
Marketable Securities | p. 513 |
Inventories | p. 514 |
Supply Chain Management | p. 515 |
Accounts Receivable | p. 516 |
Credit Policy | p. 516 |
Setting and Implementing the Credit Policy | p. 517 |
Monitoring Accounts Receivable | p. 518 |
Accounts Payable (Trade Credit) | p. 520 |
Bank Loans | p. 523 |
Promissory Note | p. 523 |
Line of Credit | p. 524 |
Revolving Credit Agreement | p. 524 |
Costs of Bank Loans | p. 525 |
Commercial Paper | p. 527 |
Accruals (Accrued Liabilities) | p. 528 |
Use of Security in Short-Term Financing | p. 528 |
Tying it All Together | p. 529 |
Integrated Case: Ski Equipment Inc. | p. 534 |
Inventory Management | |
Short-Term Loans and Bank Financing | |
Financial Planning and Forecasting | p. 538 |
Forecasting Apple's Future | p. 538 |
Putting Things in Perspective | p. 539 |
Strategic Planning | p. 539 |
The Sales Forecast | p. 541 |
The AFN Equation | p. 542 |
Key Determinants of External Funds Requirements | p. 544 |
Excess Capacity Adjustments | p. 544 |
Forecasted Financial Statements | p. 546 |
Initial Forecast: "Business as Usual" | p. 546 |
Using Regression to Improve Financial Forecasts | p. 549 |
Using Individual Ratios in the Forecasting Process | p. 551 |
Modifying Accounts Receivable | p. 551 |
Modifying Inventories | p. 552 |
Other "Special Studies" | p. 552 |
Tying it All Together | p. 553 |
Integrated Case: New World Chemicals Inc. | p. 558 |
Forecasting Financial Requirements When Financial Ratios Change | |
Multinational Financial Management | p. 562 |
U.S. Firms Look Overseas to Enhance Shareholder Value | p. 562 |
Putting Things in Perspective | p. 563 |
Multinational or Global Corporations | p. 563 |
Multinational versus Domestic Financial Management | p. 566 |
The International Monetary System | p. 568 |
International Monetary Terminology | p. 568 |
Current Monetary Arrangements | p. 569 |
Foreign Exchange Rate Quotations | p. 570 |
Cross Rates | p. 571 |
Interbank Foreign Currency Quotations | p. 572 |
Trading in Foreign Exchange | p. 573 |
Spot Rates and Forward Rates | p. 573 |
Interest Rate Parity | p. 574 |
Purchasing Power Parity | p. 576 |
Inflation, Interest Rates, and Exchange Rates | p. 577 |
Hungry for a Big Mac? Go to China! | p. 578 |
Stock Market Indices Around the World | p. 580 |
International Money and Capital Markets | p. 581 |
International Credit Markets | p. 582 |
International Stock Markets | p. 582 |
International Capital Budgeting | p. 583 |
International Capital Structures | p. 585 |
Multinational Working Capital Management | p. 586 |
Cash Management | p. 586 |
Credit Management | p. 587 |
Inventory Management | p. 588 |
Tying it All Together | p. 589 |
Integrated Case: Citrus Products Inc. | p. 593 |
Appendixes | |
Solutions to Self-Test Questions and Problems | p. 1 |
Answers to Selected End-of-Chapter Problems | p. 24 |
Selected Equations and Data | p. 29 |
Selected Equations and Data | |
Index | p. 1 |
Cyberproblems | |
Executive Compensation | |
Online Financial Calculators | |
Examining the Financial Report-3M | |
Using Ratio Analysis as a Tool-Brady Corporation | |
World Financial Markets | |
Yield Curves and Interest Rates | |
BondsOnline Educated Investor Center | |
Evaluating Portfolio Risk and Return | |
Table of Contents provided by Ingram. All Rights Reserved. |
The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.
The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.