This fifth edition of a classic and comprehensive resource presents an applied, realistic view of entrepreneurial finance for today’s entrepreneurs, completely updated to address the latest trends and technologies.

The book provides an integrated set of concepts and applications, drawing from entrepreneurship, finance and accounting, that will prepare aspiring entrepreneurs for the world they will most likely face as they start their new businesses. The contents are designed to follow the life cycle of a new business venture. Topics are presented in logical order, as entrepreneurs will likely face them as they begin the process of business start-up and move into growing the business.

Both undergraduate and graduate students will appreciate the clear presentation of complex issues, and this book is an essential resource for budding entrepreneurs as well.

A comprehensive spreadsheet financial template is included with the book, and an all-new case study provides questions that will help students learn the template as they proceed through the book. This tool allows for the application of many of the concepts to actual businesses and can be a valuable supplement to the process of developing a full business plan. The spreadsheet financial template is available for unlimited free downloads at Professor Cornwall’s blog site: www.drjeffcornwall.com.

chapter 1|12 pages


part I|126 pages

Building a Financial Forecast

chapter 2|18 pages

Setting Financial Goals

chapter 3|21 pages

Understanding Financial Statements

chapter 4|21 pages

Revenue Forecasting

chapter 5|15 pages

Expense Forecasting

chapter 6|50 pages

Integrated Financial Model

part II|36 pages

Managing the Financial Resources of a Venture

chapter 7|20 pages

Monitoring Financial Performance

part III|98 pages

Sources of Financing

chapter 9|11 pages

Financing over the Life of a Venture

chapter 11|18 pages


chapter 12|18 pages

External Sources of Funds: Equity

chapter 13|21 pages

External Sources of Funds: Debt

chapter 14|17 pages

Financing the High-Growth Business

part IV|46 pages

Planning for the Entrepreneur’s Transition

chapter 15|30 pages

Business Valuation

chapter 16|16 pages

Exit Planning