Traditional corporate finance concepts are losing their credibility in today's economy. The CFO, traditionally charged with minimizing capital costs and maximizing returns, now acts as a conduit for a company's financial health to the investment community and board of directors. This book aims to help financial professionals adapt to the large-scale changes that are taking place in corporate finance. It focuses on 12 traditional finance concepts that have been turned on their head since 1990 and guides the reader through the new requirements. Interspersed throughout the text are examples of what "Fortune 500" companies are doing. This book should be valuable as supplemental course material for MBA students. Table of Contents Acknowledgments. Introduction. PART 1: Managing Financial Activities. Lesson 1 Profitability. Lesson 2 Working Capital. Lesson 3 Financial Responsibilities Outside of Finance. Lesson 4 Outsourcing. PART 2: Financing the Corporation. Lesson 5 Access to Credit. Lesson 6 Noncredit Banking Services. Lesson 7 Strategic Planning and Capital Budgeting. Lesson 8 Rating Agencies. Lesson 9 Investment Banking. PART 3: Facing Twenty-first Century Challenges. Lesson 10 Audit and Control. Lesson 11 Risk Management. Appendix 11A: Guide to the Preparation of Policies and Procedures. Lesson 12 The Chief Financial OfficerAs Focus. Afterword. Index.