...Table of Contents 1. Perspective analysis ………………………………………….2 2.1 Forecasting……………………………………………….2 2.2 Valuation …………………………………………………3 2.3 Sensitivity analysis……………………………………….4 2. Application……...…………………………………………….4 3.4 Challenges and opportunities…………………………..4 3.5 Recommendations……………………………………….5 Reference List…………………………………………………….6 Appendix………………………………………………………….7 1.Prospective Analysis Based on the reformatting financial statement, this report will use the forecasting template designed by Nissim and Penman (2001) to forecast the future financial performance of David Jones. The valuation of the firm is provided subsequently and the underlying key assumptions are considered for sensitivity analysis. 1.1 Forecast on Future Finance Performance This section explained the forecasting bases and detailed forecasts are illustrated in Table 1. * Sales Growth The sales revenue is expected to have an average growth of 3% in the forecasting years. Due to the overall macro-economic factors such as a decline in consumer confidence or an increase in household savings rates, DJS is unlikely to boost the sales growth rate. Although the company is reducing the price of the international stocks, as the company faces increased competition in online retailing, which has resulted in greater transparency of global pricing, there is a risk the price deductions will not be offset by higher volumes. (DJS Annual Report, 2013) However...
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...GMAT 词汇精选单词 WORD 版(免费下载去广告完美版) List 1 单词 abdicate abnormal abolish absenteeism absorb abstract absurd abundant academic accelerate access accommodate accompaniment accord accordingly accountant accretion acc accrue accumulate accuracy accurate accustomed acquire acreage activate acute adapt addict addict additive adept adhere adjacent adjust administer administe admit adolescent adoption advent adverse advocate advocate aerodynamic 音标 [ 'æbdikeit ] [ æb'nɔ:ml ] [ ə'bɔliʃ ] [ æbsən'ti:izəm ] [ əb'zɔ:b ] [ 'æbstrækt ] [ əb'sə:d ] [ ə'bʌndənt ] [ ,ækə'demik ] [ ək'seləreit ] [ 'ækses ] [ ə'kɔmədeit ] [ ə'kʌmpənimənt ] [ ə'kɔ:d ] [ ə'kɔ:diŋli ] [ ə'kauntənt ] [ ə 'kri:ʃn ] [ ə'kru: ] [ ə'kju:mjuleit ] [ 'ækjurəsi ] [ 'ækjurət ] [ ə'kʌstəmd ] [ ə'kwaiə ] [ 'eikəridʒ ] [ 'æktiveit ] [ ə'kju:t ] [ ə'dæpt ] ['ædikt ] [ ə'dikt ] [ 'æditiv ] [ ə'dept ] [ əd'hiə ] [ ə'dʒeisnt ] [ ə'dʒʌst ] [ əd'ministə ] [ əd'mit ] [ ,ædə'lesnt ] [ ə'dɔpʃn ] [ 'ædvənt ] [ 'ædvə:s ] [ 'ædvəkeit ] [ 'ædvəkət ] [ ,ɛərəudai'næmik ] 释义 v.放弃,丢弃 adj.反常的 v.取消,废除 n.旷工,旷课 v.吸收;同化 adj.抽象的; n.摘要 adj.荒唐的 adj.大量的,丰富的;富裕的;多的 adj.学院的;学术的; n.学者 v.加速,促进 n.通路;接近(或进入)的权利;途径 v.供给(某人)住宿;使适应;考虑 n.伴奏 v.同意,一致; n.协议 adv.因此;相应地 n.会计人员,会计师 n.增长;增加物 vi.自然增长,自然产生 v.积累;堆积 n.准确(性),精确(性) adj.正确的;精确的 adj.习惯的,适应的 v.取得,获得 n.英亩数 v.使活动,激活 adj.灵敏的;严重的 v.(使)适合,适应 n.有瘾的人 v.使上瘾,使入迷 adj.附加的; n.添加剂 adj.精通的,内行的 v.粘附;遵守,坚持 adj.邻近的,毗连的 v.调节,改变…以适应 v.管理,执行;用药 v.承认;准许…进入 n.青少年; adj.青春期的 n.采用,采纳;收养 n.到来,出现 adj.逆的,不利的 v.提倡,支持 n.支持者,提倡者 adj.空气动力学的 ...
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