Оглавление
Robert D. Hisrich. Entrepreneurial Finance
Entrepreneurial Finance
Brief Contents
Detailed Contents
Preface
Acknowledgments
About the Authors
Chapter 1 The Entrepreneurial Challenge: A Global Perspective
Case: CEON Solutions Pvt. Ltd
Need for Entrepreneurial Finance
Types of Entrepreneurs
Becoming a Global Entrepreneur
Is it the Right Time?
Is it Risky to Become an Entrepreneur?
Traits of a Global Entrepreneur
The Need for Global Entrepreneurs
What is Different about Entrepreneurial Finance?
Summary
Chapter 2 Business Planning for Entrepreneurs. Learning Objectives
Case: TerraPower, Inc
Purpose of Writing a Business Plan
Benefits of a Business Plan
Elements of the Business Plan
Section 1: Introduction
Section 2: Body of the Business Plan
Section 3: Support (Backup) Material
Financial Information
Business Plan Development and Update
Summary
Descriptions of Images and Figures
Chapter 3 Understanding Financial Documents. Learning Objectives
Case: Hostess Brands LLC
The Balance Sheet
Assets
Liabilities
Shareholders' Equity
Reaching a Balance
The Income Statement
Cash versus Accrual Accounting
Revenues
Expenses
The Statement of Cash Flow
Summary
Chapter 4 Financial Ratio Analysis. Learning Objectives
Case: Old Pueblo Lithographers
Uses of Financial Ratios
Time-Series
Cross-Sectional
Sources of Information
Types of Ratios
Liquidity
Leverage
Management Efficiency
Profitability
Quality of Earnings
Market Ratios
Limitations of Financial Ratios
Summary
Appendix
Chapter 5 Cash Flow Management. Learning Objectives
Case: De Werks, S.A
Working Capital
Cash Flow from Operations
Method 1
Method 2
Cash Flow Cycle
Accounts Receivable
Collection of Past due Accounts Receivable
Days Sales Outstanding (DSO) Ratio
Accounts Payable
Summary
Descriptions of Images and Figures
Chapter 6 Financial Projections for the Firm. Learning Objectives
Case: Desert Divers
Types (i.e., Forms) of Projections
Models and Methodologies
Dealing with Data (or Lack of Data)
Revenue and Costs Relationships
Seasonal Adjustment and Patterns
Summary
Descriptions of Images and Figures
Chapter 7 Cost of Capital and Capital Budgeting. Learning Objectives
Case: Mill Pro, Inc
Weighted Average Cost of Capital
The Cost of Equity (RRRequity)
The Build-up Method
The Cost of Debt (RRRdebt)
The Cost of Preferred Stock (RRRpfd)
International Issues with Respect to RRR Calculations for Capital Components
Making the Weighted Average Cost of Capital (WACC) Computation
What is the Firm's Capital Structure?
The Firm's Capital Structure
Summary and Special Notes regarding the WACC Computation
Capital Budgeting
Example of a Capital Budgeting Problem
Summary
Chapter 8 Valuation. Learning Objectives
Case: Franks Brothers LLC
Concepts of Value
The Valuation Process
Three Main Valuation Methodologies of an Operating Firm
Valuing the Operating Firm using Discounted Cash Flow Analysis (DCF)
Valuing the Operating Firm using Net Asset Value (NAV)
Valuing Intangible Property (Intangibles)
Unique Tax Considerations, Contingencies, and Subsequent Events
Adjustments for Discounts or Premiums
Assembling a Valuation
Summary
Descriptions of Images and Figures
Chapter 9 Raising Capital. Learning Objectives
Case: Kickstarter.com
Types of Capital
The Capital-Raising Process
Financing Stages
Sources of Capital. Meeting Capital Formation and Resource Needs
Bootstrapping
Creative Ways to Bootstrap
Equity Capital
Private (Angel) Investors
Venture Capital Firms
Crowdfunding
Debt Capital
Securities Law and Regulations
Basic Securities Laws of the United States
Summary
Chapter 10 Risks of doing Business Internationally. Learning Objectives
Case: Baja'd Out Clothing Company
Foreign Exchange (Forex) Risks
Quantifying Currency Risk
Natural, Reporting, and Local Currency
Transaction Risk
Translation Risk
Hedging Forex Risk
Taxes
Other Risks Related to doing Business Internationally
Summary
Chapter 11 Managing to Maximize Firm Value. Learning Objectives
Case: Uni-Net
Key Aspects to Value
Certainty of Cash Flows
Grow the Firm
Market Position is Important: Document and Publicize your Success
Build Intangible Value and Organization
A Flat, Flexible Organization with a Productive Workforce is Valuable
Update the Firm's Planning Model
Develop a useful Historical Database
Management must be Held Accountable for Results
Tailor Pay and Incentives to Results
Lower the Risk Profile
Liquidity Risk
Operating Leverage
Financial Risk
Worst-Case Scenarios
Risk Assessment as a Routine
Back Testing
Sensitivity and Scenario Testing
Simulation
Summary
Chapter 12 Venture Exits. Learning Objectives
Case: Camera+ Photo Software Application by Tap Tap Tap
Types of Exits
Security Markets
Strategic Buyer
Retained Earnings
Cash-Out Structures
Pricing a Transaction
Venture Capital Method
Summary
Descriptions of Images and Figures
Glossary
References
Additional Resources
Index
