Tài liệu Khối Ngành Kinh Tế

Portfolio expected return (9.6%) is between Alta (17.4%) and Repo (1.7%) Portfolio standard deviation is much lower than: either stock (20% and 13.4%). average of Alta and Repo (16.7%). The reason is due to negative correlation (r) between Alta and Repo.

51 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 541 | Lượt tải: 0

Commission: fee paid to broker for making the transaction Spread: cost of trading with dealer Bid: price dealer will buy from you Ask: price dealer will sell to you Spread: ask - bid “Price Impact”– Large sales or purchase might cause prices to change. “Payment for Order Flow”– Exchange will pay brokers to direct orders to them.

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Similar to forwards, except: Marking-to-market Many more assets- agriculture, livestock, metals, indexes, currencies, interest rates, energy Standardized contracts that trade on exchanges, such as CBOT

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Risk hasn’t disappeared, it has been shifted to Fannie Mae. But Fannie Mae doesn’t keep the mortgages: Puts mortgages in pools, sells shares of these pools to investors Risk is shifted to investors. But investors get a rate of return close to the mortgage rate, which is higher than the rate S&Ls pay their depositor. Investors have more risk, b...

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Free cash flows are the cash flows that are available (or free) for distribution to all investors (stockholders and creditors). FCF = sales revenues - operating costs - operating taxes - required investments in operating capital.

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The net amount of cash inflows and outflows reconciles the change in the company’s beginning and ending cash balances. For example, assume that UBC’s net increase in cash is $9 million and the Cash beginning balance is $20 million. The cash reconciliation would be as follows

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There is another exception to retrospective application. That is when an IASB Statement or another authoritative pronouncement requires prospective application for specific changes in accounting policies: The entity is required to follow the IFRS prescribed transitional provisions when it first applies the changes in a new or amended standard. ...

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Ordinary shares issued as part of bonus issues (also known as share or stock dividends) and share splits are treated retroactively as subdivisions of the shares already outstanding at the date of the split or dividend. If shares were reacquired during the period, the weighted-average number of shares is reduced. The number of reacquired shares is ...

46 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 615 | Lượt tải: 0

Treasury shares usually do not have: Voting rights. Dividend rights. Preemptive rights. Liquidation rights. Treasury shares are reported as an unallocated reductionof total Shareholders’ Equity. Acquisition of Treasury Shares Recorded at cost to acquire. Resale of Treasury Shares Treasury Shares credited for cost. Difference between cost...

35 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 508 | Lượt tải: 0

Step 1. Use the defined benefit formula to determine the retirement benefits earned to date. $400,000 × 10 × 1.5% $ 60,000 per year Step 2. Find the present value of the retirement benefits as of the retirement date. The present value (n=20, i=6%,) of the retirement annuity at the retirement date is $688,195 ($60,000 × 11.46992). Step 3...

51 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 467 | Lượt tải: 0