Entrepreneurial Financial Management: An Applied Approach / Edition 5

Entrepreneurial Financial Management: An Applied Approach / Edition 5

ISBN-10:
0367335425
ISBN-13:
9780367335427
Pub. Date:
09/03/2019
Publisher:
Taylor & Francis
ISBN-10:
0367335425
ISBN-13:
9780367335427
Pub. Date:
09/03/2019
Publisher:
Taylor & Francis
Entrepreneurial Financial Management: An Applied Approach / Edition 5

Entrepreneurial Financial Management: An Applied Approach / Edition 5

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Overview

The first book on the market to approach this topic from a comprehensive perspective, Entrepreneurial Financial Management offers an applied, realistic view of finance for today's entrepreneurs. This book emphasizes that entrepreneurial finance is not just about raising money and creating financial statements: it explains that management is the key to success for any new business venture. It provides an integrated set of concepts and applications that draw from entrepreneurship, finance, and accounting, and will prepare users for the world they will face as they start their new businesses. Proper attention is paid to venture capital and public offerings, but these are put in their proper perspective, as less than 1 percent of new ventures should even consider these financing vehicles. Based on practical experience and informed by theory, this book will prove useful for accountants, finance professionals, and entrepreneurs.

Product Details

ISBN-13: 9780367335427
Publisher: Taylor & Francis
Publication date: 09/03/2019
Edition description: 5th ed.
Pages: 346
Product dimensions: 7.50(w) x 9.25(h) x (d)

About the Author

Jeffrey R. Cornwall is professor emeritus of entrepreneurship at Belmont University in Nashville, Tennessee. He has a DBA and an MBA from the University of Kentucky.

David O. Vang is a professor of finance in the OPUS College of Business at the University of St. Thomas in St. Paul, Minnesota. He received a bachelor’s degree, summa cum laude, from St. Cloud State University in Minnesota with majors in economics and political science.

Jean M. Hartman holds a BA in business administration and accounting from Southwest Minnesota State University and an MBA from the University of St. Thomas. She is a certified public accountant.

Table of Contents

1. Introduction.

I. BUILDING A FINANCIAL FORECAST.

2. Setting Financial Goals.
3. Understanding Financial Statements.
4. Revenue Forecasting.
5. Expense Forecasting.
6. Integrated Financial Model.

II. MANAGING THE FINANCIAL RESOURCES OF A VENTURE.

7. Monitoring Financial Performance.
8. Internal Sources of Funds: Bootstrapping Techniques.
9. Day-to-Day Cash Flow Management and Forecasting.
10. External Sources of Funds: Debt.
11. External Sources of Funds: Equity.
12. Financing the High Growth Business.

III. PLANNING FOR THE ENTREPRENEUR'S TRANSITION.

13. Business Valuation.
14. Exit Planning.

Introduction

Courses in entrepreneurial finance are expanding rapidly across the country. The traditional approach to presenting entrepreneurial finance has often tended to place too much attention on venture capital and initial public offerings. Less than 1 percent of new ventures should even consider these financing vehicles. Entrepreneurial finance is not just about raising money and creating financial statements. Entrepreneurial finance should be an integral part of the basic management of any new venture.

Entrepreneurial Financial Management: An Applied Approach is written from an integrated, comprehensive perspective. The fundamental goal of this book is to present an applied, realistic view of entrepreneurial finance for today's entrepreneurs. This book provides an integrated set of concepts and applications, drawing from entrepreneurship, finance, and accounting, that will prepare aspiring entrepreneurs for the world they will most likely face as they start their new businesses. Although venture capital and public offerings are covered in this book, they have been put in their proper perspective. Entrepreneurial Financial Management is based on practical experience but is also informed by theory.

The book is designed for applied and experientially based teaching strategies in entrepreneurial financial management. Each chapter has been written with the goal of facilitating application of its contents to real-life businesses.

KEY FEATURES
  • The structure of the book is designed to follow the life cycle of a new business venture. Topics are presented in the order that an entrepreneur would likely face them as they begin the process of businessstart-up and move into growing the business.
  • Chapter 8 provides detailed information and techniques for bootstrapping new businesses. Most entrepreneurs learn that they must find creative methods for getting more "bang for their buck," as they rarely have access to unlimited funds.
  • A comprehensive view of funding sources with discussion of how an entrepreneur works with each is presented in Chapters 10-12. Interviews with many of the funding sources are presented in "In Their Own Words . . ." boxes throughout these chapters.
  • Numerous examples are presented throughout the text.
  • A comprehensive computer spreadsheet financial template is available from the Companion Website. This tool allows many of the concepts to be applied to actual businesses. The tool can be a supplement to the process of developing a full business plan..
  • A self-assessment is included to assist student entrepreneurs in integrating their own personal aspirations into their financial and business plans.
  • Opportunities for Application are included at the end of most chapters.
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