JAMES SAGNER

Acknowledgments ix Introduction 1 PART 1 Managing Financial Activities 15 Lesson 1 Profitability 17 Lesson 2 Working Capital 33 Lesson 3 Financial Responsibilities Outside of Finance 47 Lesson 4 Outsourcing 63 PART 2 Financing the Corporation 79 Lesson 5 Access to Credit 81 Lesson 6 Noncredit Banking Services 99 Lesson 7 Strategic Planning and Capital Budgeting 114 Lesson 8 Rating Agencies 127 Lesson 9 Investment Banking 141 PART 3 Facing Twenty-first Century Challenges 157 Lesson 10 Audit and Control 159 Lesson 11 Risk Management 176 Appendix 11A Guide to the Preparation of Policies and Procedures 187 Lesson 12 The Chief Financial Officer’s Focus 192 Afterword 206 Index 209 contents