The follow-up to the previous edition of this text looks at the strategic aspects of financial planning and management, and provides a rigorous yet readable introduction to theory and practice. Considered is the business cycle along with product lifecycles, and revisions include all new end-of-chapter problems and questions, updated material on valuation, the cost of capital and capital budgeting and coverage of new attestation standards, EDP auditing and sampling. Emphasized in the book are practical, decision-making aspects of financial management and microcomputer as well as more conventional exercises.