Designed to impart financial literacy to readers with no previous background in the subject, the text provides a solid foundation for students to build upon in later courses in financial management, investments, or financial markets. Equations and mathematical concepts are kept to a minimum, and include understandable, step-by-step solutions. Divided into three parts, the book explains financial markets, discusses the functions of financial systems, reviews savings and investments in different sectors, describes accounting concepts and organizational structures, and more. Real-world examples featured throughout the text help students understand important concepts and appreciate the role of finance in various local, national, and global settings.
Updated to incorporate recent economic and financial events, this new edition is an ideal textbook for first courses in finance―reviewing the discipline’s essential concepts, principles, and practices in a clear, reader-friendly manner. Students gain an integrated perspective of finance by learning how markets and institutions influence, and are influenced by, individuals, businesses, and governments.