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Definitions and concepts are introduced one at a time most of the time. Glossary is provided. Answers in even number problems are provided. Review and Discussion Questions are provided with no answers, but they can be easily checked in the corresponding chapters. Included in Appendix D is a case study on a donut shop of small business finance.
Cons:
Useless Excel spreadsheets that come with CD. The authors include Excel tables used in each chapters. Many times figures are HARD TYPED, not derived from formulas. Some people may want to use the spreadsheets for their own needs, but this practice diminishes the point of using a spreadsheet. Some concepts are not clearly or completely explained such as future value of an ordinary annuity, and EOQ (basically formulas in chap 8). The derivations of formulas are not provided, which let the reader merely memorize and simply plug in values in the formula without understanding the context to use and the assumptions. "Entrepreneurial" contents are scarce considering the intent of the book, which barely distinguishes itself from other typical corporate finance books. I would like to see more real life case studies such as the one in Appendix D, so that material learned throughout chapters can be demonstrated in the context and in a coherent manner. Interdependences and relations of concepts should be explicitly iterated and be shown with visual aids.
Prerequisite:
Basic algebra at junior high school level, including power, logarithm and summation. No prior knowledge of finance is assumed.
Comment:
I would look elsewhere for a basic finance book with more of application and implementation tastes. This may -not be fair to the authors' intention, but hands-on modeling with spreadsheet is a better and more sophisticated approach to me. I recommend to read any introductory finance book that explains concepts and their interdependence very well, then move on to a spreadsheet modeling book for implementation such as Financial Modeling by Benninga, Practical Management Science by Winston and Albright, Excel 2000 Formulas by Walkenbach, and Financial Models Using Simulation and Optimization by Winston.
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Potentially this book would be a good one ( concepts are explained ok ) but the tutorials/examples are full of errors and many of the files it references in the tutorials don't exist ..... at least that I have been able to find. I don't even know if the download files are still available ..... not that they are worth the time it takes to download them ( downloads only go through chapter 7 anyway ).
Additionally, I have tried to contact the publisher, author, and new publisher ( Apress apparently has purchased FriendsofED ) for help and received precisely nothing in return ..... not even a "we will look into it and get back with you" message.
I was hoping the FriendsofED titles might be a good source of textbooks for the classes I teach but will probably never use one of their titles again because of this experience with them. It's to the point that I have considered reimbursing everyone of my students who have bought this book because it's so poor.
Very frustrated and disappointed to say the least.
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Furthermore, most schools don't really care too much about your GMAT essay score--they care most about your Verbal and Quantitative scores. Most of the schools that really care about your writing ability will look at your answers to the essay questions in the MBA application.
However, if you are the kind of person who really, really *loves* to study as much as possible for a test, this book is good, *and*, it is the only book on the market with this many sample GMAT essays.
All the essays are well-written and they would receive high scores on the GMAT. This book is good for people who learn from examples or for people who really have no idea what to write. Non-native speakers of English should take a look at this book if they feel like their writing style is not similar to the English writing style.
In short, this book is full of examples and is good for people who are not sure of what to write. Since GMAT has said that all essays will come from these topics, studying this book is good for people who are nervous about their essay scores.
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