"Making the Best Financial Decision"
L. Murphy Smith, D.B.A., CPA
Katherine T. Smith, D.B.A.
Philip Swicegood, Ph.D.
Though some think a finance seminar might be about bookkeepping, such is not the case here. Instead, participants learn how to enhance and monitor
the fiscal health of their business by using proven financial management methods. Using an illustrative case study, essential skills of
understanding financial statements, break-even analysis (calculation of the level of sales needed to achieve a profit) budgeting, capital budgeting
and financial ratio analysis are presented. Security and control of vital financial resources are also given along with methods to build working
relationships with financial institutions.
About Our Authors:
L. Murphy Smith, D.B.A., CPA is the Assistant Department Head in the Department of Accounting of the Lowry Mays College, Graduate School of Business
at Texas A&M University. He joined the Texas A&M faculty in 1984 and has served as the director of the Internal Auditing Program since 1994. He
received his doctorate from Louisiana Tech University. Dr. Smith has worked as a faculty resident in the auditing area for Arthur Andersen & Co. He
is a member of the American Institute of CPAs, the Institute of Internal Auditors, and the American Accounting Association. Dr. Smith's
accomplishments include over 200 professional journal articles, research grants, books, and professional meeting presentations in the U.S. and
abroad. His major research interests are systems, auditing, ethics, and international issues. Among the books he has published, his accounting
information systems text is now in its second edition. He serves on the editorial boards of several journals, including Advances in International
Accounting, Research on Accounting Ethics, Teaching Business Ethics, and The CPA Journal.
Dr. Katherine T. Smith received her Doctor of Business Administration degree, with a major in marketing and minors in economics and management,
from Louisiana Tech University in May 1986. She has served on the faculties of the University of Mississippi and Louisiana Tech University. Dr.
Smith is experienced in a wide variety of business and economic analytical techniques. Her research articles have appeared in a number of
publications, including Advances in Marketing, Journal of Professional Services Marketing, and Marketing News. Currently she serves on the editorial
boards of four national journals. She has authored four books, including an educational novel entitled The Bottom Line is Betrayal, which presents
contemporary information technology and international business issues. In addition, she has made presentations at professional meetings in the U.S.
and abroad. Dr. Smith resides in College Station, Texas, with her husband, Murphy, and their three children.
Dr. Philip Swicegood teaches Finance at Wofford College. He holds a Ph.D. in Finance from Florida State University, an M.B.A. in Finance from the
University of Texas-Austin, and a B.S. degree in Finance and Philosophy from Liberty University. He has worked in the banking industry as an analyst
for the Office of the Comptroller of the Currency, and has served as a business consultant in the United States, China, Russia, Uruguay, Macedonia,
India, and Poland. Since March of 2003, Dr. Swicegood has consulted with Horizon Investments, LLC, assisting with the launch of various mutual funds
and hedge funds. His research areas include banking, neural networks, investments, business ethics, and real estate. He has published articles in
the Journal of Real Estate Research, International Journal of Intelligent Systems in Accounting and Finance, Southern Business and Economic Journal,
The Journal of College Teaching and Learning, and Tierra Grande. Dr. Swicegood enjoys fishing, reading, and time with his family and with college
students. He and his wife Cindy are the parents of two daughters, Stephanie and Susanna.
- Module 1: Financial Statements and Cost Analysis
Cost Analysis and Breakeven Point
- Module 2: Budgeting and Performance Evaluation
- Module 3: Decision-making Using Capital Budgeting Tools
Time Value of Money
Capital Budgeting Tools
Calculating Cost of Capital
- Module 4: Managing Financial Resources
Short-term Financial Planning
- Module 5: Managing Risk and Information
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