...fundamental financial aspects, namely, insurance and risk management, savings and investments, education planning, retirement and estate planning and also, tax planning. The action plans and recommendations shall act as a guide in assisting Mr. Tom Ho to achieve sufficient financial protection, lower tax burdens, increased investment (passive) income, good retirement planning and also proper estate planning. The financial plan outlines all the financial planning and strategies that are designed and developed to: • Help to set aside an emergency fund preparing the client for unfortunate events and mishaps. • Provide client with budgeting plan and cash flows planning to support client and family's current lifestyle. • Help client in accumulating sufficient retirement funds to support him and his spouse's retirement lifestyle and needs. • Establish a profitable investment portfolio with balanced assets allocation according to client's risk profile and prospect analysis report. • Assist client in reducing client's tax burden by utilizing tax reliefs and other tax savings methods and strategies. • Distribute client's wealth by using appropriate estate planning tools and strategies when client departs. • Reduce and settle out housing loans, car loans and credit card loans. • Assist client in accumulating sufficient funds to support children's tertiary education expenses fully. • Assist client in achieving financial goals and life...
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...best fits your needs and objectives. Market timing, security selection and asset allocation are the three tools that are used to help reach your financial goals. ANALYSIS James and Lucy Anderson have an average/moderate tolerance for risk based on the risk tolerance quiz they completed. We have completed a review of the Anderson’s current holdings and assigned them into asset class. Some stocks will be sold and other will be held. Within any given asset class, a benchmark of expected performance has been performed. If the current stocks held in that class are underperforming the class in general, they should be sold and replaced with positions that better represents the asset class. Then purchasing patterns will be changed to add asset in the other classes that are currently not represented in your portfolio. The net result will be a well balance asset allocation that is representative of moderate risk tolerance. James and Lucy currently hold over one million dollars in real estate and have a relatively small equities portfolio. The Anderson’s IRAs and non-retirement assets are concentrated in small and mid cap growth and cash. RECOMMENDATIONS James and Lucy have a significant income and monthly net cash flow. We recommend that you begin contributing to your retirement and non-retirement accounts...
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...DOCUMENTS TO BE FILLED OUT AND RETURNED TO ATTORNEY ____ 1. ____ 2. ____ 3. ____ 4. ____ 5. General Information Sheet Property List Debt List Monthly Expenses Visitation Schedule ( Please review and make any changes you desire-for each change please state your reason for such change) DOCUMENTS TO BE PROVIDED TO ATTORNEY (Please provide copies - we would prefer you keep your originals) ____ 1. ____ 2. ____ 3. Past three years tax returns, including W-2 forms Current pay stubs from January to present Past six months bank statements for all checking and savings accounts (upon receiving it, provide current months bank statement) Verification of debts (i.e., credit card statements, invoices, monthly statements, etc.) Verification of assets (i.e., monthly or quarterly statement of any asset listed above in General Information Sheet) Vehicle titles Boat titles, Motorcycle titles NADA (blue book) value of automobiles (highlight car value - you may obtain this information from a bank, car dealership, etc.) Warranty Deed or Quit Claim Deedto all real estate, including residence and/or any and all land. Verification of medical insurance cost for children only Verification of monthly day care cost for children Costs of transportation for visitation Verification of other child support payments made either by you or your spouse for any children of a previous marriage or children prior to marriage Certificates of Deposit ____ 4. ____ 5. ____ 6. ____ 7. ____ 8. ____ 9. ____ 10...
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...Lesson 13: Investing in Mutual Funds What is a mutual fund? * A mutual fund is a professionally managed pool of money invested in stocks, bonds and other securities. * By purchasing mutual funds, small investors can easily diversify their investments and enjoy the benefits of professional management. * Investors own units or shares in the fund and benefit proportionately from any increase in value and/or income earned by the investments owned by the fund. The Reasons Investors Choose Mutual Funds | Mutual funds have grown in importance in Canada over the last twenty-five years. As of February 2008, there were 2,038 mutual funds with a total worth of nearly $679 billion – up from only $3.5 billion in 1981.The two major reasons investors choose mutual funds are: 1. Professional management - although there is no guarantee that the fund will outperform the market. 2. Diversification - by asset class (i.e. by holding a mix of stocks, bonds and money market investments) or within each asset class (i.e. by holding a variety of securities within each class). The risk of mutual funds arises from the risks associated with the investments they hold. * For example, a bond fund will be subject to interest rate risk – as interest rates rise, the value of the bonds owned by the fund will decline. | Mutual Funds With and Without Loads A load is a sales commission. In a load fund, the investor pays a commission every time he or she buys units (front-end load)...
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...The Hartford By Stacia Smith Executive Summary The Hartford has been around for over 200 years. They continue to adapt and make changes to stay a Fortune 500 company. As of current day, there are still many challenges The Hartford still has to face in order to drive their profit up. The Hartford is being affected by their current realignment. They are in the process of refocusing their priorities. They will be focusing on Property and Casualty, Group benefits and Mutual Fund Businesses, and place their Individual annuity business into run off. They are also going to be expanding their sales departments and finding other alternatives for their Life, Financial services and retirement plans. The insurance market is currently being affected by interest rates, credit spreads, equity prices, market volatility and foreign exchange rates. Insurance is also affected by natural physical events such as hail, hurricanes, and climate changes. These are a major factor for all insurance companies and will have to be taken care of individually. The Hartford has a great company culture. They reward their employees and are very much into giving back to the community. Since the company was founded in 1810, The Hartford has gone through many changes and leaders, but they manage to stay a competitor. The Hartford has managed to lock in contracts and be affiliated with AARP, AKC, Sierra Club and National Wildlife Federation. They are also known for writing Babe Ruth’s “sickness policy” in...
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...Part I Introduction To understand Financial Trend Analysis encompasses an understanding of one of the most challenging responsibilities facing local governments, and cities across the entire country are more aware now than ever before of how necessary it is to achieve a quality level of fiscal health to be sustainable over the long term. Governments can utilize analytical skills and financial indicators to perform assessments of the organization’s fiscal health. This type of assessment we are able to gain some insight on an organization & determine what symptoms might be contributing to its fiscal distress. It also provides information on what additional testing and analysis needs to be done in order to get a more accurate picture of the organization’s fiscal problems. Problems can then be treated in the most effective way to achieve the level of fiscal health that needed in order to serve its citizens. City Officials Chelsea City Council Juanita Champion jchampion@cityofchelsea.com David Ingram dingram@cityofchelsea.com Alison Moore Nichols alisonnichols@cityofchelsea.com Tony Picklesimer tpicklesimer@cityofchelsea.com Dale Neuendorf dneuendorf@cityofchelsea.com Part II Chelsea Financial Overview & Indicators Part A Community Indicators A-1 Population The Government, incorporated in 1996, is located in Shelby County in north central Alabama. In the year 1996, its population was estimated at 906 and has grown to 2,949 today, making...
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...Planning for Retirement Planning for retirement doesn’t usually cross the minds of young people who feel as if they have the rest of their life ahead of them. What they don’t realize is that life “happens” and then you realize you should have started planning for retirement many years ago. When you start planning for retirement at an early age, you are able to take advantage of investing and the power of compounding interest over the years, which will add up when you are ready to start using your retirement account. If you withdraw from your retirement account before age 59 ½ then you will be penalized by having at least 20 percent taxes taken out and you will be assessed a penalty fee when you file your taxes next year. Before you withdrawal any money from your retirement account, weigh the pros and cons and if it is for a major life event or because you want to purchase a midlife crisis toy. While one is planning for retirement, the best way to figure out what you will need when you retire is to conduct a financial analysis. You may want to start by looking to see what assets you possess. Assets are defined as cash, personal property, personal possessions and investments; cash in your checking and savings accounts, a house, car, television, etc. (Kapoor, Dlabay, & Hughes, 2010). When you retire, a house will probably be the most valuable asset you own. If you purchase a house in the early years, there is a possibility that you have only a few...
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...COUNTY OF VENTURA CAFR ANALYSIS PA615 – Public Financial Management Instructor, All Holliman California State University, San Bernardino Carrie Harmon, Scott Perkins, Dana Cano, Veronica Pinkett-Veal, Lydia Khalil, Holly Benton June 10, 2010 Contents Executive Summary 2 Cover, Table of Contents and Formatting 3 Introduction 3 Independent Auditor’s Report 5 Management’s Discussion and Analysis 6 Basic Financial Statements 6 Government-wide Financial Statements 7 Fund Financial Statements 8 Government, Proprietary, and Fiduciary Funds – Financial Statements 10 Summary of Significant Accounting Policies (SSAP) 14 Note Disclosure (other than SSAP and pension-related disclores) 19 Required Supplementary Information (RSI) 19 Combining and Individual Fund Information and Other Supplementary Information 21 Statistical Section 22 Other Considerations 23 Executive Summary The purpose of this report is to conduct a comprehensive analysis of the County of Ventura’s Comprehensive Annual Financial Report otherwise known as the CAFR. This analysis afforded the group members an opportunity to apply concepts and theories acquired through a graduate level governmental accounting course and provided the group members with a more intimate view of local government finances. The County of Ventura was selected for three primary reasons: 1) the county is located in Southern California and can easily be compared to the County of Riverside; 2) Ventura County...
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...provide more efficient use of the client's growing resources, to improve net worth, to reduce income and estate taxes, and to increase after-tax cash flow. A fact-finding session helps us become totally familiar with your current financial situation, as well as your personal goals and priorities. Working from the comprehensive information gathered in the fact-finding session, a detailed financial plan is prepared which documents your current situation, identifies all areas that will be impacted, and makes specific goal-oriented recommendations. Recognizing our ever-changing tax environment, we also work to assure that you are positioned in the most effective manner relative to your personal tax situation. Each recommendation in our analysis is then thoroughly reviewed with you to confirm your understanding and support of each recommendation. If desired, we actively assist in the full implementation of every plan recommendation in conjunction with the other members of your financial advisory team. The following example is a combination of two actual cases that were completed during the 2002 calendar year. The following example provides a realistic example of some of the benefits that a financial plan can provide. Marke & Cher Daler In many financial planning cases, there are one or more variables that have a substantial impact on the results of the analyses. Sometimes these variables are unknown at the...
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...PA504 – Governmental and Nonprofit Accounting Case Study Week Two Questions (40 points) Please provide a page reference to the CAFR (not the pdf) for each response if applicable. 1. Who prepared the CAFR? The Metropolitan Government of Nashville and Davidson County’s Department of Finance prepared the CAFR. 2. What is the length of the CAFR? The Length of the CAFR is 307 pages. 3. Describe briefly the form of government for The Metropolitan Government of Nashville and Davidson County. According to page viii, On April 1, 1963 the governments of the City of Nashville and Davidson County were consolidated into a single "Metropolitan Government of Nashville and Davidson County", under which the boundaries of the City of Nashville and Davidson County are coextensive. The executive and administrative powers are vested in the Mayor, who is elected at large for a four-year term. The Mayor is authorized to administer, supervise and control all departments and to appoint all members of boards and commissions. They also have a Vice-Mayor, who is elected at large for a four year term and is the presiding officer of the Council. The Council is composed of 40 members who are elected for four-year terms. 4. What two service district governments are included within the CAFR? General Services District and Urban Services District are included in the CAFR. 5. What are the three basic sections of the CAFR? Introductory section, Financial section, and Statistical section...
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..." During the 1920s, finance broke away from economics and became a discipline of its own. Think of finance today as being applied economics. In other words, economics provides the theory; finance takes that theory and applies it to real world situations. 2. Accounting is sometimes called "the language of business" and it is certainly true that it is a language that finance practitioners need to be familiar with. Finance majors work with numbers generated by the accounting profession: income statements, balance sheets, cash flow statements, etc. Although finance practitioners don't need to know the intricate details of how these numbers were determined, they do need to know enough accounting to properly use these numbers in an analysis of financial problems. 3. Management provides the communication and organizational skills that all finance personnel need. Finance practitioners spend most of their day interacting with other people, so the ability to work effectively with others is crucial. 4. Marketing skills are increasingly important to finance people. Banks want their officers to serve a lead role in business development (i.e., gaining new clients for the bank). Stock brokers and mortgage bankers continually seek new clients. Finance practitioners who are skilled at presenting themselves and their firms in the best light will thrive in a competitive marketplace. 5. Computer skills...
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...Climate Protection Plan. * Others; Financial Policies, Internal Controls, Budgetary Control, Cash Management, Risk Management and Pensions. * Certificate of Achievement for Excellence in Financial Reporting. * Acknowledgements 3. A) Yes, the city received an unqualified audit opinion. B) Yes, the report contains management’s discussion and analysis. The key issues are: Financial Highlights, Overview of the Financial Statements, Financial Analysis of the Government-Wide Statements, Financial Analysis of the Government’s Fund Level Statements, and Other Information. C) The report does provide reconciliation between total governmental net assets per the government-wide statement of net assets and total governmental fund balances per the governmental fun balance sheet. The main reconciliation items are; capital assets that are capitalized on the government-wide statements but are not reported in the funds, Other long-term assets reported on the government-wide statements but not on the funds statement, internal service fund assets and liabilities reported on the government-wide statements but not on the funds statements and...
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...financial section. The financial section involves the independent auditor’s report (which audited by the company of Cochran Head Vick & Co), the management’s discussion and analysis, basic financial statements such as government wide financial statements and fund financial statements, and the notes to the financial statements. The financial statement does contain two government wide financial statements which are the statement of net position (p15) and the statement of activities (p16) and seven fund financial statements. The management discussion and analysis section contains the overview of financial activities of the city of Topeka. C) What information is provided in the statistical section? The statistical section mainly provides information about the financial trends, debt capacity, revenue capacity and the economic information. Question - two basis of accounting The basis of accounting is used in the general fund is the general fund is the modified accrual basis. This information can be found on p 18 and p 29 of the CAFR. Because of the City of Topeka does have the long term liabilities and capital assets, this would cause the difference between the governmental funds and the governmental wide statement. By viewing the statement of revenues, expenditures, and changes in fund balances of governmental fund (page 19). We suppose...
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...3-2 Week 2 Lecture: Analyzing Financing Activities Financial Statement Analysis Overheads from K.R. Subramanyam textbook resources as amended by F.Hui for FIN324 2016. CHAPTER Liabilities (including employee benefits), Equity And off balance sheet transactions Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 3-3 Overview of Chapter Companies operations are financed by various sources: • Liabilities • Capital (Stockholders’ Equity) • Off balance sheet transactions 3-4 Companies’ Financing Sources Liabilities Capital (Stockholders’ Equity) Off balance sheet transactions 3-5 Liabilities Liabilities Alternative Classification Important Features in Analyzing Liabilities • Terms of indebtedness (such as maturity, interest rate, payment pattern, and amount). • Restrictions on deploying resources and pursuing business activities. • Ability and flexibility in pursuing further financing. • Obligations for working capital, debt to equity, and other financial figures. • Dilutive conversion features that liabilities are subject to. • Prohibitions on disbursements such as dividends. Obligations that arise from operating activities--examples are accounts payable, unearned revenue, advance payments, taxes payable, postretirement liabilities, and other accruals of operating expenses Operating Liabilities Obligations...
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...Forces of Competition 6 Firm: Westpac 7 Overview 7 McKinsey’s 7 S Framework 7 Competition Analysis 11 Blue Ocean Analysis 13 SMSF and Strategy Recommendations 13 What is a SMSF? 13 Three tiers of Non-Customers 13 Strategic Canvas – SMSF 14 3 Keys to Success: Tagline, Focus and Differentiation 14 Option 1 14 VRIO 15 Option 2 15 VRIO 15 Appendix 17 Industry Analysis Charts 17 Porters 5 Forces Analysis Detail 20 Westpac Strategic Priorities 22 Material issues 23 Executive Summary Westpac Bank is Australia’s first Bank, founded in 1817 and is currently one of the “big four” group of lending banks in Australia. Listed on the stock exchange in 1970, Westpac has a history of acquisitions, notably the recent (2008) purchase of St George, which contributes 19% of Westpac’s Cash Earnings. Westpac has a market capitalisation of $76.5 billion in an industry with an overall value of $208.6 billion, or roughly 10% of Australia’s GDP. The financial services industry in Australia is an Oligopoly, with the big four banks accounting for over 80% of the market. A mature market, players are converging, and the industry is forecast to grow at around 8% year on year to 2018. Competition in this industry is fierce, though there is also speculation that there may be significant price signaling amongst the “big four” in particular. Westpac’s strengths, shown in a McKinsey 7S analysis, lie in its ability to innovate, deliver superior technological solutions, its multi-brand strategy...
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