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　　This up-to-date introduction to finance, written for hospitality students, explains and demonstrates the importance of financial management within the hospitality organization. This clear and concise text provides many examples and is primarily based on practical applications and less on theoretical foundationsCONTENTS:1. Introduction2. Financial Markets and Financial Instruments. 3. Review of Financial Statements and Selected Ratios. 4. The Relationship Between Risk and Return. 5. Time Value of Money. 6. Fixed Income Securities: Bonds & Preferred Stock. 7. Common Stock. 8. Cost of Capital. 9. Introduction to Capital Budgeting and Cash Flow Estimation. 10. Capital Budgeting Decision Methods. 11. An Introduction to Hotel Valuation. 12. Capital Structure.