6th Edition
Entrepreneurial Financial Management An Applied Approach
Now in its 6th edition, this classic and comprehensive resource presents an applied, realistic view of entrepreneurial finance for today’s entrepreneurs. The 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.
The contents are designed to follow the life cycle of a new business venture. Topics are presented in logical order, as entrepreneurs will likely face them, from business start-up through to growing the business. Each chapter includes discussion questions and opportunities for application, and PowerPoint slides and problem solutions are available for instructors. A comprehensive financial spreadsheet template is also included with the text, which allows for the application of the concepts to actual businesses and is a valuable supplement to the process of developing a full business plan. This new edition includes an expanded discussion of the role of entrepreneurial financial management in business modeling, updated current practices in bootstrapping and sources of financing, and new examples throughout the textbook.
Entrepreneurial Financial Management will be a valuable resource for undergraduate and graduate students of entrepreneurship and budding entrepreneurs alike.
1. Introduction PART I: BUILDING A FINANCIAL FORECAST 2. Setting Financial Goals 3. Understanding Financial Statements 4. Revenue Forecasting 5. Expense Forecasting 6. Integrated Financial Model PART II: MANAGING THE FINANCIAL RESOURCES OF A VENTURE 7. Monitoring Financial Performance 8. Day-to-Day Cash Flow Management and Forecasting PART III: SOURCES OF FINANCING 9. Financing over the Life of a Venture 10. Start-Up Financing from the Entrepreneur, Friends, and Family 11. Bootstrapping 12. External Sources of Funds: Equity 13. External Sources of Funds: Debt 14. Financing the High-Growth Business PART IV: PLANNING FOR THE ENTREPRENEUR’S TRANSITION 15. Business Valuation 16. Exit Planning
Biography
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.
“Cornwall, et al.’s book takes an applied approach that teaches students entrepreneurial financial skills. It does not require students to have a strong finance background and is written for undergraduates who want to gain an understanding of the topics that everyone who is planning a start-up venture should know.”
—Dr Jay Azriel, Lycoming College, Williamsport, Pennsylvania, USA.
“In my teaching experience, I realized that entrepreneurial finance is the weakest link in the entrepreneurship student’s skill set. After reviewing several books, I’ve found the 6th edition of Entrepreneurial Financial Management to be the best resource for understanding the subject.”
—Kanhaiya Sinha, PhD, University of Minnesota Duluth.
