The idea for this book arose because of the need for a textbook in financial management suited to the East African context. It emerged from our experience of teaching financial management both at the university and professional levels over many years. It provides strong theoretical foundations in financial management while also emphasizing practical applications of concepts. The book is suitable for students pursuing professional courses in the revised Certified Public Accountants (CPA), Certified Public Secretaries (CPS), Certified Securities and Investments, Certified Credit Professionals (CCP), Certified Management Technicians (CMT) and Investment and Securities Technicians (IST) qualifications. Students pursuing financial management qualification for other professional courses in finance and banking will also find the book useful.