...CHAPTER ONE 1. Introduction 1.1. Background of the study Financial statement analysis is a process of evaluating relationships between different components of financial statements to obtain a better understanding of the firm’s financial condition and performance. It focuses on key figures in the financial statement and significance of relationship that exist between them. Financial analysis helps users to understand the numbers presented in the financial statement and serve as a basis for financial decision making. Financial analysis is among the important techniques that help to assess the financial performance of an organization by taking in to account company’s liquidity, leverage, operating efficiency and profitability. It concentrates on financial statements analysis, which highlights the key aspects of firms operations. Financial managers need the information provided by the analysis both to evaluate the firm’s past performance and to map the future plans and undertake informed decision. In addition to this, both lenders and other potential lenders use financial ratios to assess the future performance of a company in which they plan to invest in. Managers use this information in order to judge the performance of their entity and to control the day-to- day operation of that entity and owners make use of financial ratios to evaluate whether their companies are maximizing their wealth or not. Ratio analysis is used to compare a firm’s performance and status with that...
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...Merger: Valuation Process and Evaluation of Financial Performance in case of United Insurance Company and Shama Plc By: Jemaneh Bayou January 2008 Advisor: Abebe Yitayew (Asst. Professor.) A PROJECT PAPER SUBMITTED TO THE SCHOOL OF GRADUATE STUDIES OF ADDIS ABABA UNIVERSITY IN PARTIAL FULFILLMENTS OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF SCIENCE IN ACCOUNTING AND FINANCE ADDIS ABABA UNIVERSITY SCHOOOL OF GRADUATE STUDIES Faculty of Business & Economics Department of Accounting & Finance Merger: Valuation Process and Evaluation of Financial Performance in case of United Insurance Company and Shama Plc By Jemaneh Bayou Hailu January 2008 Approved by board of examiners Asst. Professor Abebe Yitayew Advisor Examiner ___________________ Signature ___________________ Signature Examiner ___________________ Signature Statement of Certification This is to certify that Jemaneh Bayou has carried out his project work on the topic “Merger: Valuation Process and Evaluation of Financial Performance in case of United Insurance Company and Shama Plc” under my supervision. In my opinion, this work qualifies for submission in partial fulfillment of the requirements for the award of Degree of Masters of Science in Accounting and Finance. Signature________________ Abebe Yitayew (Asst.Professor) Project Advisor Statement of Declaration I declare that this project work is my original work. It has not been submitted for any degree/Diploma in any University. I have undertaken...
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...Paper Submitted in Partial Fulfillment of the Requirements for the Master of Science Degree With a Major in Applied Psychology Approved: 4 Semester Credits Dr. James Tan, Investigation Advisor The Graduate College University of Wisconsin-Stout May, 2002 The Graduate School University of Wisconsin-Stout Menomonie, WI 54751 Abstract (Writer) Skibba (Last Name) Jennifer (First) S. (Initial) Personality and Job Satisfaction: An Investigation of (Title) Central Wisconsin Firefighters Applied Psychology (Graduate Major) Dr. James Tan (Research Advisor) May, 2002 (Month/Year) 108 (No.of Pages) American Psychological Association (APA) Publication Manual 4th Edition (Name of Style Manual Used in this Study) The purpose of the present investigation is to evaluate how personality and job satisfaction affect job performance in employees at a Central Wisconsin fire department. Through a process of conducting assessments and gaining access to performance evaluations completed at the department, interactions between the variables was seen. The main effects found were that Factor C (Emotional Stability) and Factor F (Liveliness) of Cattell’s 16 PF had positive correlations with job performance, while Factor H (Social Boldness) had a negative relationship with job performance. The global factor of Realistic on the 16PF also has a positive correlation, as did Self-Esteem and Leadership Potential. Social Sensitivity had a negative correlation. The Positive ...
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...Section 1 Organizational Culture: set of artifacts, values and assumption that emerge from the interaction of organizational members Open social system operating a dynamic environment. CRITERIA to identify something as culture: 1. Deeply felt or held 2. Commonly intelligible 1. Accessible to a cultural group Organization = Ordered and purposeful interaction among people. Purposeful, because its members produce (supero-rdinative) goal-directed activities. Organizational communication is a continuous process through which organizational members create, maintain and change the organization. (it includes business communication) N.B. All organizational members take place in it; messages are produced to create a shared meaning of messages, but it is not always achieved. Those messages vary in form according to various factors (power distances, roles, goal, method, non-verbal), and to be fully understood have to be considered in their contexts Culture: "the collective programming if the mind that DISTINGUISHES the members of one group tor category of people from another" (Hofstede 2001) Is both a process and a product; is confining (imitates groups) and facilitating (gives us a way to better understand what is happening) Cultural Symbol = physical indicators of organizational life (Rafaeli & Worline 2000) ARTIFACTS: visible/tangible, are also part of them norms, standards, customs and social convention. Norms: pattern of behaviors or communication...
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...Employment News 31 May - 6 June 2014 www.employmentnews.gov.in 21 UNION PUBLIC SERVICE COMMISSION EXAMINATION NOTICE NO. 09/2014-CSP (LAST DATE FOR RECEIPT OF APPLICATIONS : 30/06/2014) DATE :31.05.2014 CIVIL SERVICES EXAMINATION, 2014 (Commission’s website-http://upsc.gov.in) F. No. 1/5/2013-E.I(B) : Preliminary Examination of the Civil Services Examination for recruitment to the Services and Posts mentioned below will be held by the Union Public Service Commission on 24th Aug., 2014 in accordance with the Rules published by the Department of Personnel & Training in the Gazette of India Extraordinary dated 31st May, 2014. (i) Indian Administrative Service. (ii) Indian Foreign Service. (iii) Indian Police Service. (iv) Indian P & T Accounts & Finance Service, Group ‘A’. (v) Indian Audit and Accounts Service, Group ‘A’. (vi) Indian Revenue Service (Customs and Central Excise), Group ‘A’. (vii) Indian Defence Accounts Service, Group ‘A’. (viii) Indian Revenue Service (I.T.), Group ‘A’. (ix) Indian Ordnance Factories Service, Group ‘A’ (Assistant Works Manager, Administration). (x) Indian Postal Service, Group ‘A’. (xi) Indian Civil Accounts Service, Group ‘A’. (xii) Indian Railway Traffic Service, Group ‘A’. (xiii) Indian Railway Accounts Service, Group 'A'. (xiv) Indian Railway Personnel Service, Group ‘A’. (xv) Post of Assistant Security Commissioner in Railway Protection Force, Group ‘A’ (xvi) Indian Defence Estates Service, Group...
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...Employment News 11 - 17 February 2012 www.employmentnews.gov.in 21 Union Public Service Commission EXAMINATION NOTICE NO. 04/2012-CSP DATED 11.02.2012 (LAST DATE FOR RECEIPT OF APPLICATIONS : 05.03.2012) CIVIL SERVICES EXAMINATION, 2012 (Commission's website - http://www.upsc.gov.in) F. No. 1/4/2011-E.I(B) : Preliminary Examination of the Civil Services Examination for recruitment to the Services and Posts mentioned below will be held by the Union Public Service Commission on 20th May, 2012 in accordance with the Rules published by the Department of Personnel & Training in the Gazette of India Extraordinary dated 4th February, 2012. (i) Indian Administrative Service. (ii) Indian Foreign Service. (iii) Indian Police Service. (iv) Indian P & T Accounts & Finance Service, Group ‘A’. (v) Indian Audit and Accounts Service, Group ‘A’. (vi) Indian Revenue Service (Customs and Central Excise), Group ‘A’. (vii) Indian Defence Accounts Service, Group ‘A’. (viii) Indian Revenue Service (I.T.), Group ‘A’. (ix) Indian Ordnance Factories Service, Group ‘A’ (Assistant Works Manager, Administration). (x) Indian Postal Service, Group ‘A’. (xi) Indian Civil Accounts Service, Group ‘A’. (xii) Indian Railway Traffic Service, Group ‘A’. (xiii) Indian Railway Accounts Service, Group 'A'. (xiv) Indian Railway Personnel Service, Group ‘A’. (xv) Post of Assistant Security Commissioner in Railway Protection Force, Group ‘A’ (xvi) Indian Defence Estates Service, Group ‘A’. (xvii) Indian Information...
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...FINAL PROJECT BRAND LOYALTY Submitted By: Muhammad USMAN Mc070400252 Session 2007-2009 17-04-2009 Submitted To: Project Management Department MKT-619 Department of Management Sciences, Virtual University of Pakistan i DEDICATION I would like to dedicate this project to my respected Khawaja Saleem Warsi who made me able to enter to join MBA Program; He was a Professor in Government Islamia College, Karachi. His kind encouragement, help, and motivation has been supporting me at every stage during MBA, This kind Professor has always step by step with me when ever I faced problem during Study. ii ACKNOWLEDGEMENT Start with the name of ALLAH who is very beneficiary and merciful. I am very Grateful to Almighty ALLAH Who Gave me a Power to research and write on this report. After that I am very Grateful to My respected elder Khawaja Saleem Warsi who made me able to enter in MBA Program, than my guardian, my kind Instructor of Final Project (MKT-619) Whose Guidance and instruction Helped and encouraged me at every Stage of this Project. I will ever memorize this Great personality. I am also Grateful to my honest and sincere friends who provided me suggestions when ever I needed iii EXECUTIVE SUMMERY The background of the project is to analyze Brand loyalty of Toyota Corolla and Honda City Cars that success in the Car Market. I will find out the reasons and factors those make them strengthen and Strong position in the market for that I decided to work on it...
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...University of Florence Faculty of Economy Master’s Degree in Bank, Insurance and Financial Markets Thesis in Applied Statistics for Banks and Insurances Credit Risk Models: Single Firm Default and Contagion Default Analysis Supervisor: P rof essor Fabrizio Cipollini Student: Marco Gambacciani Academic Year 2009/2010 Contents Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Structural Models 1.1 Terminal Default . . . . . . . . . . . . 1.2 First Passage Models . . . . . . . . . . 1.2.1 The Black and Cox’s Model . . 1.2.2 Longstaff and Schwartz’s Model 1.2.3 Leland and Toft’s Model . . . . 1.2.4 Zhou’s Model . . . . . . . . . . 1.2.5 Random Threshold Model . . . 2 5 5 11 11 15 19 24 30 35 36 39 41 45 48 50 51 56 67 76 77 79 79 82 83 84 94 114 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Modelli reduced form 2.1 Approach With An Homogenous Poisson Process . . 2.2 Approach With a Non-Homogenous Poisson Process 2.3 Approach with a Cox’s Process . . . . . . . . . . . . 2.4 Bond and Spread Valuation . . . . . . . . . . . . . . Models For The Correlation Between Defaults 3.1 Bottom-Up Models . . . . . . . . . . . . . 3.1.1 Structural Apporach . . . . . . . . 3.1.2 Intensity Models Approaches . . . 3.1.3 Approaches with...
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...and explain the importance of generally accepted accounting principles. Explain the meaning and purpose of a balance sheet and the items that appear in the balance sheet. Determine the interrelationship among the basic financial statements. Analyze the relationship between certain items in the balance sheet and the income statement with the help of ratio analysis. Evaluate the way that different assets, liabilities, and stockholders' equity items are presented in a balance sheet. Given an annual report, the student should be able to read, understand, analyze, and explain a B company’s Income Statement to other decision makers and use the knowledge and skills to make business decisions. Key Concepts Explain the meaning and purpose of an income statement and the items that appear in the income statement. Determine the interrelationship among the basic financial statements. Analyze the relationship between certain items in the balance sheet and the income statement with the help of ratio analysis. Evaluate the way that different revenues, expenses, gains, and losses are presented in an income statement. Given an annual report, the student should be able to read, understand, analyze, and explain a C company’s Statement of Cash Flows to other decision makers and use the knowledge and skills to make business decisions. Key Concepts Explain the meaning and purpose of a statement of cash flows and the items that appear in the...
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