...Homework 2 1. Rachel is a limited partner in Starship Partners. This year Starship reported that Rachel's share of dividend income was $3,700 and his share of municipal interest was $2,750. Early this year Rachel found a bundle of $100 bills in the alley outside his apartment. When no one claimed the money, the cash (a total of $2,400) was returned to Rachel. Finally, Rachel earned salary of $42,000 but almost $6,500 was withheld for income taxes and FICA tax. Compute Rachel's (a) realized income and (b) gross income. BE SURE TO CALCULATE BOTH AMOUNTS. a) 3,700 + 2,750 + 2,400 + 42,000 = $50,850 b) 3,700 + 2,400 + 42,000 = $48,100 2. Ted works as a painter for local businesses on weekends, and he often provides services in exchange for property. This year Ted provided painting services in exchange for $1,275 of car repair services, $3,570 of groceries, and a certificate of deposit (CD) for $4,050. The (CD) matures next year with interest. Finally, Ted received a gift card that can only be applied for $850 of clothing at a local mall. Ted has only applied the gift card to purchase $100 of clothing. Compute Ted's gross income assuming that he uses the cash basis of accounting. 1,275 + 3,570 + 4,050 + 850 = $9,745 3. Jennifer was married on November 1 of this year and on that day received numerous gifts from her extended family. Her grandfather presented Jennifer with a check for $15,000; her uncle gave Jennifer 1,000 shares of Ford stock worth $10 per share (the uncle purchased...
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...City, the City of Kyle also operates with a City Manager form of Government. The City Council is comprised of a Mayor and six Council Members. The resident voters choose the Mayor and three Council Members at large and the other three Council Members are elected from their prospective districts. The goal of the proposed budget for the City of Kyle is to maintain the current service levels for all necessary city services. The goals and objectives of the City is the guideline for forming the City’s yearly budget. The budget projection is slated to significantly improve the city’s local business climate over the next few years. Most of the city’s growth stems from workers in the nearby city of Austin, TX, where real estate and property taxes are slightly higher. It is best for the city and it’s implementation partners to be flexible given the needs and demand of the economy and market. Kyle’s adopted annual budget will require...
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...stimulating it. If there is no innovation, there is no advancement as a society. He goes on to explain that antitrust law prosecutes on a case by case basis while new regulations do not, which can ultimately affect consumers (Goodlatte, 2014). Another issue that governments have dealt with since the Internet emerged is Internet taxation. Around 1996, several U.S. states saw potential for the Internet to become a great source of tax revenue. These thoughts were pretty quickly put down when the U.S. government introduced the Internet Tax Freedom Act (1998). The law barred all levels of government from imposing an Internet access tax (Stupak, 2016). In 2016, the U.S. government made the act permanent, so U.S. citizens do not have to worry about taxes on Internet access anytime soon. However, there are several governments around the world that do have an Internet access tax put into place or have attempted to put one into place. For example, in 2015, Pakistan government imposed a 19.5% broadband usage tax but faced a lot of opposition. The tax has since been decreased based on customer usage rates (“Sindh”, 2016). User-generated content is probably the most well-known issue that governments face when dealing with the Internet. There is so much content out there that it is almost impossible to regulate. For example, social media companies in the U.S. are not held liable for the content that users of the social media service post. However, the Chinese Supreme Court issued new regulations...
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...Rule City, the City of Kyle also operates with a City Manager form of Government. The City Council is comprised of a Mayor and six Council Members. The resident voters choose the Mayor and three Council Members at large and the other three Council Members are elected from their prospective districts. The goal of the proposed budget for the City of Kyle is to maintain the current service levels for all necessary city services. The goals and objectives of the City is the guideline for forming the City’s yearly budget. The budget projection is slated to significantly improve the city’s local business climate over the next few years. Most of the city’s growth stems from workers in the nearby city of Austin, TX, where real estate and property taxes are slightly higher. It is best...
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...04 1st Semester Final Exam Review Name: Michael Piper Company Information – Provide the following information: Company website: http://geneva304.wix.com/area-304 Company E-mail address: area304.il@veinternational.org Area 304 Slogan: Dream Big. Dream Worldwide. Organizational Chart – How are we structured? We use a hierarchical organizational chart, which means that every employee is grouped by department, and each employee has a supervisor. Form of business organization: We are a C-Corporation. Purpose of employee orientation: It provides employees the opportunity to get acclimated to their positions and their role in the firm. What is included in employee personnel files: Evaluations, raises, disciplinary actions and commendations. Business Knowledge How does the US Wholesale Marketplace work? Distributors buy products from a manufacturer, then they sell the product to retailers. How do US savings accounts work? Interest can be earned on any money that is stored. Different banks pay different rates, and interest is also compounded differently from bank to bank. What is FDIC insurance and how does it work? The FDIC is a United States government agency that preserves confidence in banks by insuring money deposited into those banks (up to a certain point). What are CD’s (Certificates of Deposit)? These are certificates issued by banks to people who deposit money. What are IRA’s? This stands for Individual Retirement Account. It is a good way to save...
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...Netflix Netflix is a retailer of movie rental services. The company offers an internet subscription service for enjoying TV shows and movies, where subscribers can instantly watch unlimited TV shows and movies streamed over the internet to their TV, computers and mobile devices. It offers more than 10,000 DVDs and Blu-ray titles to its subscribers. Netflix also operates a separate library of over 12,000 titles of movies that can be watched instantly on subscriber’s TV through a Netflix ready device or on their computers. The company markets and promotes its service through various marketing programs, including television, radio advertising, online promotions, package inserts, direct mail and other promotions with third parties. The company sells its merchandise through website and mail order. It principally operates in the US. Netflix is headquartered in Los Gatos, California, the US. Netflix, Inc. operates an online movie rental service servicing approximately 7.5 million subscribers in the United States. Through various plans, Netflix subscribers select DVDs online, receive the selected DVDs in the mail, and then return them using provided prepaid mailers. Netflix does not provide deadlines or charge late fees. After a DVD has been returned, Netflix sends the next available DVD in a subscriber's wish list. Netflix operates a fast-growing DVD rental and video streaming service available in the United States, Canada, and eventually Central and South America. Netflix was founded...
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...Extra Credit Assignment ------------------------------------------------- 1. Fifty percent of the sales of Hanson Company sales are for cash; the rest are on credit. Seventy percent of the credit sales are collected in the month of sale, twenty percent in the month following sale, and five percent in the second month following sale. The remainder is expected to be uncollectible. Monthly sales are budgeted as follows: $280,000 for January, $240,000 for February, and $320,000 for March. Prepare a schedule of expected cash collections for the month of March. 2. a) What are the major weaknesses of static budgets? “Directly comparing static planning budget revenues and costs to actual revenues and costs can easily lead to erroneous conclusions. Actual revenues and costs differ from budgeted revenues and costs for a variety of reasons, but one of the biggest is a change in the level of activity. One would expect actual revenues and costs to increase or decrease as the activity level increases or decreases. Flexible budgets enable managers to isolate the various causes of the differences between budgeted and actual costs” (Garrison 397). Garrison, R.. Managerial Accounting, 14th Edition. McGraw-Hill Learning Solutions, 2012. <vbk:0077624319#outline(9.7)>. b) What are the characteristics of a planning budget? “A planning budget is prepared before the period begins and is valid for only the planned level of activity...
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...Bharati Vidyapeeth Deemed University “FINANCIAL ANALYSIS: A COMPARATIVE STUDY OF INDIABULLS HOUSING FINANCE LTD.” A SUMMER TRAINING PROJECT REPORT SUBMITTED IN PARTIAL FULLFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF DEGREE OF MBA 2O11-13 SUBMITTED BY GUIDED BY CHETAN SAPRA MS. SONALI MBA (FINANCE & MARKETING) DHARAMADHIKARI ROLL NO. 30 CERTIFICATE OF ORIGINALITY This is to certify that the project report entitled “FINANCIAL ANALYSIS: A COMAPRATIVE STUDY OF INDIABULLS HOUSING FINANCE LTD.” Submitted to Bharati Vidyapeeth Deemed University, Pune in partial fulfillment of the requirement for the award of the degree of MBA is an original work carried out by Mr. Chetan Sapra under the guidance of Ms. Sonali Dharamadhikari. The matter embodied in this project is a genuine work done by Chetan Sapra to the best of my knowledge and belief and has not been submitted before, neither to this University nor to any University for the fulfillment of the requirement of any course of study. Signature of the Student: Signature of the Guide Designation CERTIFICATE This is to certify that the Project titled “Financial Analysis: A Comparative Study Of Indiabulls Housing Finance Ltd.” is an academic work done by “ Chetan Sapra” submitted in the partial fulfillment of the requirement for the award of the degree of MBA from Bharati Vidyapeeth Deemed University, Pune. It has beem completed under the guidance of Ms. Sonali Dharamadhikari...
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...Economic impact approaches Page #1 Approaches to Estimating the Economic Impacts of Tourism; Some Examples Daniel J. Stynes Updated January 1999 Introduction The purpose of this bulletin is to present examples of different approaches to estimating the economic impacts of tourism. In a previous bulletin (Stynes 1997), I summarize economic impact concepts and methods as they apply to tourism. Here we apply the methods to illustrative cases in order to demonstrate some practical approaches. Three specific examples are presented. These represent a range of alternatives for estimating the economic impacts of visitor spending. The techniques covered range from methods based largely on judgement, to methods that utilize secondary spending data and published multipliers, to the use of visitor surveys and input-output models. A third bulletin in this series discusses survey methods for measuring visitor spending and includes sample spending instruments. While the construction and operation of tourist facilities also has economic impacts, we will restrict our attention here to the impacts of visitor spending. Review of Basic Approach and Levels of Analysis The economic impact of visitor spending is typically estimated by some variation of the following simple equation: Economic Impact of Tourist Spending = Number of Tourists * Average Spending per Visitor * Multiplier This equation suggests three distinct steps and corresponding measurements or models: (1) Estimate the change...
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...Implementation Plan Ricky Cravens STR/581 Strategic Planning & Implementation Dr. Johnnie Bejarano September 15, 2013 * Cintas Corporation is an organization with a highly integrated intelligence network. Cintas highly integrated network consist of 30,000 employees worldwide. Cintas Corporation initially focused all its operations on uniform management but in modern times it additionally designs, manufacturers and implements corporate identity uniform programs, mats, bathroom supplies, promo products, fire protection, document management, first aid and safety for close to one million businesses. Cintas operates more than 430 facilities, including eight distribution hubs and six manufacturing plants. Cintas is a billion dollar revenue organization. Cintas has many competitors worldwide. Cintas operates with a unique approach to intelligence. It operates with a one-man intelligence team. Each employee at Cintas can make a significant impact with this one-man approach. Cintas relies on all of its 30,000 employees with this model. Internal market intelligence sales network model: * Quickly identify new business opportunities * Develop local tactics to attack/defend against the competition * Develop local competitive binders * Establish best practice sharing among regions * Greater competitive visibility at corporate level “Our intelligence function is neither centralized nor decentralized. I guess the best way to describe it is that...
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...Guillermo Furniture Store Recommendation Team A FIN/571 James Carlin February 21, 2011 Abstract Guillermo founded Guillermo’s furniture company; in Sonora, Mexico, which is gorgeous retreat location. Guillermo has been the leading furniture manufacturing company in the vicinity for numerous years. Before the later part of the 1990’s Guillermo was holding their own, until new competition arrived in the area that also made furniture. The competitors came with the latest new-fangled technology seen at the lowest prices ever for clientele. For that reason, Guillermo’s felt he’s obligated to come up with the best alternative for the company, which is to improve with technology and venture ahead or carry on working as he has for the previous years and uphold the quality product their customers have come accustom to over the years. Guillermo Furniture Store Recommendation Analysis and Recommend Financial Decision The economy is weak, new competitors’ establishing a presents, Guillermo must tackle a tough decision, which is to become a furniture distributor or stay on the manufacturing side, or possibility do both. Guillermo understands that change is forth coming and he has to venture forward but the dilemma is what the best alternative is. First Guillermo must analysis the financial alternatives and establish which objective is beneficial for the company. The next step is to gather information and formulate a pro forma cash flow budget to analyze the projected earnings...
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...INTRODUCTION Operating within a complex and highly competitive pharmaceutical industry, the challenges confronting Biovail are intensifying as regulatory agencies release formal allegations of misconduct against four corporate executives and as outstanding lawsuits, widespread scrutiny, and a history of questionable accounting practices are unavoidably coming to a head. Responsible for overcoming its damaged reputation and for moving the company forward, it is imperative that management at Biovail resolve three immediate issues. 1. Establishing a worst-case scenario, what is the known liability that Biovail has incurred for deceiving its investors? 2. What does a comparative financial analysis of Biovail, Abbot Labs, and Cephalon reveal about Biovail's strategic weaknesses? 3. What principles of governance can be employed to assure investors that Biovail's past misconduct will not recur in the future? FINANCIAL ANALYSIS Liability for Fraudulent Reporting and Communications to Investors In all likelihood, a class action lawsuit against the company for aggressive and misleading accounting practices (which have had a material impact on shareholder returns) is forthcoming. Biovail must be prepared to accept responsibility for the damage experienced by investors as a result of its former actions and misrepresentations. Even though (as of February 2008) Melnyk no longer holds any affiliated role with Biovail, and although he alone is responsible...
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...Case – Drill Exercises* ACCT5910 Business Analysis and Valuation The University of New South Wales School of Accounting Lecturer Dr Peter Vassallo Question 1 Below is Target Corporation’s Income Statement for 2008. 1. Compute Target’s Net Operating Income Before Tax (NOBT). Provide a formal argument for including/excluding “Net Credit Revenues” in Target’s NOBT. Ans: COBT = 5,272 (see spreadsheet) Net credit revenues should be included. While the term”credit” suggests that it is a a financial activity, the firm has control on the conditions it sets its customers. More importantly, the firm will vary those conditions in order to yield best overall ROE. You can see here how the aggregation of assets and activities within the firm is conducive to overall firm value as being greater than the sum of its parts. Hence goodwill. Thus some firms include credit to customers within the value chain portion that the firm that they purposefully occupy – financing customer. We can thus see how all this translates into an opportunity to pursue positive residual earnings. Comment: (1) While you are not told what to do, your instinct should be to get your answer from a reformulation rather than computing a ratio from a formula. Doing so will earn you higher marks because you are being more explicit and efficient in the presentation of your answer. Your answers should show how you are integrating your knowledge. By linking the classificication to ROE, then to Residual earnings, then to...
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...economic, Social and enviromental performance member of the mol group annual report 2008 tvK at a glance Key financial and operating data Letter from the Chairman Overview of the environment OUR BUSINESSES Major Strategic Goals Consolidated Companies Our Production Our Sales 4 6 8 12 16 20 22 28 FINANCIAL AND OPERATIONAL PERFORMANCE Management Discussion and Analysis on the results 34 Independent Auditor’s report 46 Consolidated Financial Statements 49 Supplement to the consolidated financial statement 55 1 10 Key Corporate Data SUSTAINABILIT y REPORT Main results and goals Protecting the Environment Human Focus Our Quality Management Our Social Commitment Performance indicators CORPORATE GOVERNANCE Corporate Governance Integrated Risk Management Board of Directors Top Management Structure of Organization of TVK Plc. Supervisory Board Report by the Supervisory Board Corporate Information GLOSSARY OF TERMS SHAREHOLDER INFORMATION STATEMENT OF RESPONSIBLIT Y 1 16 122 125 132 133 136 142 150 152 156 158 159 161 162 165 168 169 2 tvK annual report 2008 content tvK at a glance Tisza Chemical Group Public Limited Company (TVK Plc. or TVK) operates in Tiszaújváros, as a member of the Petrochemical Division of the MOL Group, and cooperates integratedly with Slovnaft Petrochemicals, s.r.o., in Bratislava. We are supplying polymers mainly to European plastic processing companies, and our olefin sales are significant mainly towards the Hungarian chemical and...
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...May 9, 2013 Result Update KEY DATA Market Cap (INR bn) Market Cap (USD mn) 52 WK High / Low Avg Daily Volume (BSE) Face Value (INR) BSE Sensex Nifty BSE Code NSE Code Reuters Code Bloomberg Code Shareholding % Promoters MF/Banks/Indian FIs FII/ NRIs/ OCBs Indian Public Performance Chart 2Q 68.0 8.0 17.0 7.0 1295.2 23984.4 370 / 238 507834 5 19990 6069 532454 BHARTIARTL BRTI.BO BHARTI IN 3Q 68.0 8.0 18.0 6.0 4Q 69.0 9.0 17.0 5.0 CMP : INR 324 Rating : Buy Target : INR 410 Bharti Airtel Margins contract due to higher network costs and fuel expenses… Operating matrics in India improves, while that of Africa disappoints … Voice realization in both India and Africa continues to remain under pressure, but higher AMOU in India is a major positive… Headline tariffs are set to improve… Maintain 'Buy' rating on the stock with revised price target of Rs 410 Bharti Airtel's consolidated net profit during Q4FY13 missed our estimates as well as the consensus estimates due to price realization pressure in India & Africa, high network rollout costs and sharp rise in interest cost and higher tax expenses during the quarter. Although the number of subscribers on the company's network increased both in India and Africa resulting in higher total minutes on the network (TMOU), the realized revenue per minute (ARPM) continued to remain under pressure. The average revenue per user (ARPU) though increased due to increased data usage from its 3G user base and higher voice minutes of usage...
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