• Kế toán, kiểm toán - Balance sheet and statement of cash flowsKế toán, kiểm toán - Balance sheet and statement of cash flows

    “4” appeared less often in the 10th’s place than any other digit and significantly less often than would be expected by chance. This effect is called “quadrophobia.” For the typical company in the study, an increase of $31,000 in quarterly net income would boost earnings per share by a 10th of a cent. A more recent analysis of quarterly results for ...

    pptx105 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 564 | Lượt tải: 0

  • Kế toán, kiểm toán - Chương 2: Conceptual framework for financial reportingKế toán, kiểm toán - Chương 2: Conceptual framework for financial reporting

    The need for a conceptual framework is highlighted by accounting scandals such as those at Enron and Lehman Brothers. To restore public confidence in the financial reporting process, many have argued that regulators should move toward principles-based rules. They believe that companies exploited the detailed provisions in rules-based pronouncements...

    pptx66 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 618 | Lượt tải: 0

  • Kế toán, kiểm toán - Financial accounting and accounting standardsKế toán, kiểm toán - Financial accounting and accounting standards

    “It’s the accounting.” That’s what many investors seem to be saying these days. Even the slightest hint of any accounting irregularity at a company leads to a subsequent pounding of the company’s stock price. For example, the Wall Street Journal has run the following headlines related to accounting and its effects on the economy: Stocks take a bea...

    pptx54 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 562 | Lượt tải: 0

  • Kế toán, kiểm toán - Chapter 15: Capital structure decisions: Part IKế toán, kiểm toán - Chapter 15: Capital structure decisions: Part I

    Additional debt increases the probability of bankruptcy. Direct costs: Legal fees, “fire” sales, etc. Indirect costs: Lost customers, reduction in productivity of managers and line workers, reduction in credit (i.e., accounts payable) offered by suppliers

    ppt77 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 539 | Lượt tải: 0

  • Kế toán, kiểm toán - Chapter 14: Real optionsKế toán, kiểm toán - Chapter 14: Real options

    Investment timing options Growth options Expansion of existing product line New products New geographic markets

    ppt61 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 658 | Lượt tải: 0

  • Kế toán, kiểm toán - Chapter 13: Capital budgeting: Estimating cash flows and analyzing riskKế toán, kiểm toán - Chapter 13: Capital budgeting: Estimating cash flows and analyzing risk

    If the new product line would decrease sales of the firm’s other products by $50,000 per year, would this affect the analysis? Yes. The effects on the other projects’ CFs are “externalities”. Net CF loss per year on other lines would be a cost to this project. Externalities will be positive if new projects are complements to existing assets, ne...

    ppt62 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 466 | Lượt tải: 0

  • Kế toán, kiểm toán - Chapter 12: Capital budgeting: Decision criteriaKế toán, kiểm toán - Chapter 12: Capital budgeting: Decision criteria

    Find cash flow differences between the projects. See data at beginning of the case. Enter these differences in CFLO register, then press IRR. Crossover rate = 8.68%, rounded to 8.7%. Can subtract S from L or vice versa, but easier to have first CF negative. If profiles don’t cross, one project dominates the other.

    ppt68 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 569 | Lượt tải: 0

  • Kế toán, kiểm toán - Chapter 11: Corporate valuation and value - Based managementKế toán, kiểm toán - Chapter 11: Corporate valuation and value - Based management

    FCF0 = $20 million WACC = 10% g = 5% Marketable securities = $100 million Debt = $200 million Preferred stock = $50 million Book value of equity = $210 million

    ppt53 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 502 | Lượt tải: 0

  • Kế toán, kiểm toán - Chapter 10: Determining the cost of capitalKế toán, kiểm toán - Chapter 10: Determining the cost of capital

    More risky; company not required to pay preferred dividend. However, firms want to pay preferred dividend. Otherwise, (1) cannot pay common dividend, (2) difficult to raise additional funds, and (3) preferred stockholders may gain control of firm.

    ppt55 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 500 | Lượt tải: 0

  • Kế toán, kiểm toán - Chapter 9: Financial planning and forecasting financial statementsKế toán, kiểm toán - Chapter 9: Financial planning and forecasting financial statements

    A*/S0: assets required to support sales; called capital intensity ratio. ∆S: increase in sales. L*/S0: spontaneous liabilities ratio M: profit margin (Net income/sales) RR: retention ratio; percent of net income not paid as dividend.

    ppt40 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 698 | Lượt tải: 0