• Tài chính doanh nghiệp - Chapter 16: Operating and financial leverageTài chính doanh nghiệp - Chapter 16: Operating and financial leverage

    Break-Even Analysis -- A technique for studying the relationship among fixed costs, variable costs, profits, and sales volume. When studying operating leverage, “profits” refers to operating profits before taxes (i.e., EBIT) and excludes debt interest and dividend payments.

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  • Tài chính doanh nghiệp - Chapter 15: Required returns and the cost of capitalTài chính doanh nghiệp - Chapter 15: Required returns and the cost of capital

    Assume that Basket Wonders (BW) has preferred stock outstanding with par value of $100, dividend per share of $6.30, and a current market value of $70 per share. kP = $6.30 / $70 kP = 9%

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  • Tài chính doanh nghiệp - Chapter 14: Risk and managerial options in capital budgetingTài chính doanh nghiệp - Chapter 14: Risk and managerial options in capital budgeting

    A graphic or tabular approach for organizing the possible cash-flow streams generated by an investment. The presentation resembles the branches of a tree. Each complete branch represents one possible cash-flow sequence.

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  • Tài chính doanh nghiệp - Chapter 13: Capital budgeting techniquesTài chính doanh nghiệp - Chapter 13: Capital budgeting techniques

    $40,000 = $10,000(PVIF10%,1) + $12,000(PVIF10%,2) + $15,000(PVIF10%,3) + $10,000(PVIF10%,4) + $ 7,000(PVIF10%,5) $40,000 = $10,000(.909) + $12,000(.826) + $15,000(.751) + $10,000(.683) + $ 7,000(.621) $40,000 = $9,090 + $9,912 + $11,265 + $6,830 + $4,347 = $41,444 [Rate is too low!!]

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  • Tài chính doanh nghiệp - Management of translation exposureTài chính doanh nghiệp - Management of translation exposure

    In addition to creating a “before” and “after” translated balance sheet to calculate the translation exposure, there is a simpler method through multiplying the value of “net exposed assets” with the percentage of depreciation –An exposed asset (liability) is an asset (liability) whose value drops (rises) with the depreciation of the function...

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  • Tài chính doanh nghiệp - Chapter 11: Short - Term financingTài chính doanh nghiệp - Chapter 11: Short - Term financing

    Accrued Expenses -- Amounts owed but not yet paid for wages, taxes, interest, and dividends. The accrued expenses account is a short-term liability. Wages -- Benefits accrue via no direct cash costs, but costs can develop by reduced employee morale and efficiency. Taxes -- Benefits accrue until the due date, but costs of penalties and interest ...

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  • Tài chính doanh nghiệp - Management of transaction exposureTài chính doanh nghiệp - Management of transaction exposure

    Trident company just concludes negotiations for the sale of telecommunication equipments to Regency, a British firm, for ￡1,000,000 – The sale is made in March with payment due three months later in June – The financial and market information is as follows • Spot exchange rate: $1.7640/￡ • Three-month forward rate: $1.7540/￡ • Cost of capit...

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  • Tài chính doanh nghiệp - Chapter 10: Accounts receivable and inventory managementTài chính doanh nghiệp - Chapter 10: Accounts receivable and inventory management

    The before-tax opportunity cost for each dollar of funds “tied-up” in additional receivables is 20%. Ignoring any additional bad-debt losses that may arise, should the competing firm introduce a cash discount?

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  • Tài chính doanh nghiệp - Chapter nine: Currency swapsTài chính doanh nghiệp - Chapter nine: Currency swaps

    Interest Rate Risk – Interest rates might move against the swap bank after it has only gotten half of a swap on the books, or if it has an unhedged position. • Basis Risk – If the floating rates of the two counterparties are not pegged to the same index. • Exchange Rate Risk – In the example of a currency swap given earlier, the swap bank ...

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  • Tài chính doanh nghiệp - Chapter 9: Cash and marketable securities managementTài chính doanh nghiệp - Chapter 9: Cash and marketable securities management

    Accelerate preparation and mailing of invoices computerized billing invoices included with shipment invoices are faxed advance payment requests preauthorized debits

    ppt53 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 796 | Lượt tải: 0