Finance management cengage 2013 chapter 017

Finance management cengage 2013 chapter 017

Finance management cengage 2013 chapter 017
... % of capacity = $2,000/0.85 = $2,353 • 2013 forecast sales exceed the capacity sales, so new fixed assets are required to support 2013 sales 17-14 © 2013 Cengage Learning All Rights Reserved May ... earnings Total liabilities & equity 2012 $ 100 100 $ 200 100 500 200 $1,000 2013E $ 125 190 $ 315 190 500 245 $1,250 17-3 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, ... 1,200.0 700.0 $ 100.0 16.0 $ 84.0 33.6 $ 50.4 2013E $2,500.0 1,500.0 875.0 $ 125.0 16.0 $ 109.0 43.6 $ 65.4 $15.12 $35.28 $19.62 $45.78 17-4 © 2013 Cengage Learning All Rights Reserved May not...
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Finance management cengage 2013 chapter 01

Finance management cengage 2013 chapter 01
... Finance Within the Organization 1-2 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, ... ever-improving information technology have had a profound effect on all aspects of business finance 1-9 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted ... Difficult to raise capital – Unlimited liability – Limited life Often set up through LLCs/LLPs 1-4 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to...
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Finance management cengage 2013 chapter 02

Finance management cengage 2013 chapter 02
... online sources (Yahoo !Finance, CNNMoney, or MSN MoneyCentral) Stock Quote for GlaxoSmithKline, July 11, 2011 Source: GlaxoSmithKline (GSK), finance. yahoo.com 2-13 © 2013 Cengage Learning All Rights ... institutions who need to raise funds to finance their investment opportunities These groups are willing to pay a rate of return on the capital they borrow 2-2 © 2013 Cengage Learning All Rights Reserved ... organizations wanting to borrow funds are brought together with those having a surplus of funds 2-4 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to...
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Finance management cengage 2013 chapter 03

Finance management cengage 2013 chapter 03
... 32,592 492,592 2,866,592 2011 145,600 200,000 136,000 481,600 323,432 460,000 203, 768 663,768 1,468,800 3-5 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, ... Stockholders’ Shares Amount Earnings Equity 100,000 $460,000 $ 203, 768 $663,768 (160,176) (11,000) 100,000 $460,000 $ 32,592 (171,176) $492,592 3-8 © 2013 Cengage Learning All Rights Reserved May not be scanned, ... Expansion’s Effect on Operations 2012 2011 $6 ,034 ,000 $3,432,000 AT oper inc -78,569 114,257 NOWC 913,042 842,400 Net income -160,176 87,960 Sales 3-14 © 2013 Cengage Learning All Rights Reserved May...
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Finance management cengage 2013 chapter 04

Finance management cengage 2013 chapter 04
... FA Total Assets 2013E 85,632 878,000 1,716,480 2,680,112 1,197,160 380,120 817 ,040 3,497,152 2012 7,282 632,160 1,287,360 1,926,802 1,202,950 263,160 939,790 2,866,592 4-2 © 2013 Cengage Learning ... Total L & E 2013E 436,800 300,000 408,000 1,144,800 400,000 1,721,176 231,176 1,952,352 3,497,152 2012 524,160 636,808 489,600 1,650,568 723,432 460,000 32,592 492,592 2,866,592 4-3 © 2013 Cengage ... income 2013E 7,035,600 5,875,992 550,000 609,608 116,960 492,648 70,008 422,640 169,056 253,584 2012 6,034,000 5,528,000 519,988 (13,988) 116,960 (130,948) 136,012 (266,960) (106,784) 4-4 © 2013 Cengage...
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Finance management cengage 2013 chapter 05

Finance management cengage 2013 chapter 05
... Compound Each Cash Flow 5% 100 100 100 110.25 121.55 331.80 FV3 = $100(1 .05) 4 + $100(1 .05) 2 + $100 FV3 = $331.80 5-35 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, ... PV +  M   M×N 2×3  0.10  FV3S = $100 +    FV3S = $100(1 .05) 6 = $134.01 FV3Q = $100(1.025)12 = $134.49 5-32 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or ... Annually: FV3 = $100(1.10)3 = $133.10 0 1 133.10 5% 100 134.01 Semiannually: FV6 = $100(1 .05) 6 = $134.01 5-26 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or...
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Finance management cengage 2013 chapter 06

Finance management cengage 2013 chapter 06
... 6.5% (1 .065 )5 = (1 .062 )2 (1 + X)3 1.37009/1.12784 = (1 + X)3 6.7005% = X • The pure expectations theory says that three-year securities will yield 6.7005%, two years from now 6-20 © 2013 Cengage ... © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to a publicly accessible website, in whole or in part One-Year Forward Rate 6.0% x% 6.2% (1 .062 )2 ... inflation premium DRP = default risk premium LP = liquidity premium MRP = maturity risk premium 6-4 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to...
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Finance management cengage 2013 chapter 07

Finance management cengage 2013 chapter 07
... instances where the business is worth more “alive than dead.” – Chapter 11, Reorganization – Chapter 7, Liquidation 7-41 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, ... problems 7-40 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to a publicly accessible website, in whole or in part Bankruptcy • Two main chapters of ... effective yield to call can be calculated – YTC = (1.03568) – = 7.26% – Excel: =EFFECT( .071 37,2) EFF = 7.26% 7-33 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated,...
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Finance management cengage 2013 chapter 08

Finance management cengage 2013 chapter 08
... © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to a publicly accessible website, in whole or in part Partial Correlation, ρ = +0.35 8-27 © 2013 ... be shown graphically Firm X Firm Y -70 15 100 Rate of Return (%) Expected Rate of Return 8-3 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to ... Bonds, Bills, and Inflation: 2011 Classic Yearbook (Chicago: Morningstar, Inc., 2011), p 32 8-4 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to...
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Finance management cengage 2013 chapter 09

Finance management cengage 2013 chapter 09
... Ownership implies control Stockholders elect directors Directors elect management Management’s goal: Maximize the stock price 9-2 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, ... Their PVs D0 = $2 and g is a constant 6% g = 6% 1.8761 1.7599 2.12 2.247 2.382 rs = 13% 1.6 509 9-11 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted ... “Perceived” Risk Stock’s Market Price Market Equilibrium: Intrinsic Value = Stock Price 9-4 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to...
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Finance management cengage 2013 chapter 010

Finance management cengage 2013 chapter 010
... © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to a publicly accessible website, in whole or in part Divisional Cost of Capital 9-30 © 2013 Cengage ... refer to the firm’s capital structure weights •The r’s refer to the cost of each component 10-3 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to ... costs of capital in WACC Only rd needs adjustment, because interest is tax deductible 10-4 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to...
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Finance management cengage 2013 chapter 011

Finance management cengage 2013 chapter 011
... (1 + MIRRL)3 MIRRL = 16.5% TV inflows Excel: =MIRR(CF0:CFn ,Finance_ rate,Reinvest_rate) We assume that both rates = WACC 11-22 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, ... the appropriate cost of capital Find NPV and/or IRR Accept if NPV > and/or IRR > WACC 11-3 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to ... projects: if the cash flows of one can be adversely impacted by the acceptance of the other 11-4 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to...
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Finance management cengage 2013 chapter 012

Finance management cengage 2013 chapter 012
... on operations – New sales: 100,000 units/year @ $2/unit – Variable cost: 60% of sales 12-2 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to ... life: years – Depreciable life: MACRS 3-year class – Salvage value: $25,000 WACC: 10% 12-3 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to ... return of NOWC Initial Costs OCF1 OCF2 OCF3 FCF0 FCF1 FCF2 FCF3 OCF4 + Terminal CFs FCF4 12-4 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to...
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Finance management cengage 2013 chapter 013

Finance management cengage 2013 chapter 013
... from managers’ responses to changing circumstances that can influence a project’s outcome 13-2 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to ... Growth/expansion options Abandonment/shutdown options Investment timing options Flexibility options 13-3 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to ... information about market conditions and the impact on the project’s expected cash flows 13-4 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to...
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Finance management cengage 2013 chapter 014

Finance management cengage 2013 chapter 014
... debt-financed assets, so leverage will depress income • As debt increases, TIE decreases because EBIT is unaffected by debt, but interest expense increases (Int Exp = rdD) 14-15 © 2013 Cengage ... personal tax rate? Increase in bankruptcy costs? Management spending lots of money on lavish perks? Financial flexibility? Firm’s growth rate? 14-38 © 2013 Cengage Learning All Rights Reserved May not ... fixed, hence not decline when demand falls, then the firm has high operating leverage 14-4 © 2013 Cengage Learning All Rights Reserved May not be scanned, copied, or duplicated, or posted to...
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Từ khóa: PHONG TRÀO CÔNG NHÂN Ở CÁC ĐÔ THỊ MIỀN NAM VIỆT NAM TRONG KHÁNG CHIẾN CHỐNG MỸ TỪ NĂM 1954 ĐẾN NĂM 1965 (tt)Không gian văn hoá người Việt đồng bằng Bắc Bộ qua tư liệu ca dao, tục ngữ (tt)Bài 4 bảo vệ hoà bìnhBÁO CÁO MÔI TRƯỜNG VÀ CON NGƯỜIBài 17 quyền bất khả xâm phạm về chỗ ởBài 17 quyền bất khả xâm phạm vể chỗ ởLựa chọn bài tập nhằm nâng cao hiệu quả kỹ thuật bỏ nhỏ cho đội tuyển cầu lông nữ trường THPT kim động hưng yênỨng dụng các bài tập nhằm phát triển năng lực tư duy sáng tạo cho nam đội tuyển cờ vua trường trung học phổ thông ninh giang hải dươngBỆNH HỌC THẬN, TIẾT NIỆU SINH DỤC VÀ LỌC MÁU TRẺ EMtích hợp liên môn lịch sử 12 bài 20 CUỘC KHÁNG CHIẾN TOÀN QUỐC CHỐNG THỰC dân PHÁP kết THÚC (1953 1954) (LỊCH sử 12 – BAN cơ bản)Bài 5 các nước đông nam áBài 23 vùng bắc trung bộBài 4 các quốc gia cổ đại phương đôngTập huấn trường học trực tuyếnSơ đồ tư duy môn kinh tế vĩ môBài 31 cách mạng tư sản pháp cuối thế kỷ XVIIIthực trạng công tác quản lý đối tượng tham gia BHXH huyện quảng XƯơng 20102014Thuật toán nhận diện mặt người sử dụng AdabostNghiên cứu hiện trạng và đề xuất giải pháp xử lý ô nhiễm kho HCBVTV tại thôn bèo, vĩnh long, vĩnh lộc, thanh hóaChánh niệm trong từng cử chỉ
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