I read this book to supplement my CFA curriculum studies. Compared to other Schaum's books, Financial Management by Shim and Siegel merits a rating of between 3 and 3 1/2.
Four chapters covering topics of Risk Return & Valuation, Capital Budgeting, Capital Budgeting Under Risk, and Cost of Capital were excellent. Other chapters were also well written. The problem sets solidified concepts and were a pleasure to work through.
The authors present the material in a straight forward and easy to understand manner. They provide numerous examples of how to apply the concepts which are truly beneficial.
My main complaint is that there are dozens of errors throughout the book, which indicate sloppy proofreading. This can potentially frustrate readers new to the field of financial management. Calculation errors (!), misapplication of formulas (Do vs. D1) and mislabeling of charts (time lines / cash flows) were particularly frustrating and can be confusing.
I welcome the authors to contact me if they plan to release an updated edition (this book copyrighted 1998). I'll be glad to share with them the errors (at least I think they are!) I found.
It would also have been nice if the authors utilized financial calculators for some of the TVM (time value of money) applications and indicated the keystrokes. A break-out box showing the steps on a Texas Instrument BA-II or HP12-C (two popular financial calculators) would be helpful.
In sum, Financial Management is a very readable book. It is comprehensive, practical, and provides a good depth of discussion without getting too theoretical. Just watch out for the silly mistakes.