...Stern School of Business New York University Cases in Financial Management B40.2345 Tony Marciano amarcian@stern.nyu.edu KMC 9-87 First Class Assignment For the first class meeting, I will expect you to prepare the INTEL case in your course packet. You should use the detailed questions given in the course packet to organize your thoughts and analysis about the case. Our class discussion will cover the issues raised by the questions, i.e.: (i) What capital structure makes sense? (ii) What would be the best way to disburse cash? (iii) Describe the advantages and disadvantages of each alternative considered by management? In addition to reading and analyzing the Intel case, you should come to class with a one to two page memorandum that summarizes your analysis. You may team up with one or two classmates and hand in one memorandum for the group. (I.e., I will accept a memorandum with up to, but not more than, three names on it.) Stern School of Business New York University Cases in Corporate Finance Marciano Tony Course Syllabus TENTATIVE I. Course Materials A. Packet I (Required): 1. Syllabus 2. Assignments 3. Cases 4. Readings B. Text (Very Highly Recommended but probably have it already): Brealey Myers Allen, Principles of Corporate Finance, McGraw Hill. (BM) You may already have this text. C. There will be some miscellaneous handouts during the course. AND THERE ARE FILES ON BLACKBOARD WHICH CONTAIN SPREADSHEETS FOR THE CASES WE WILL...
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...COMMISSION Washington, DC 20549 FORM 10-K Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2012 or Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File No. 001-08439 LOJACK CORPORATION (Exact Name of Registrant as Specified in its Charter) Massachusetts (State or Other Jurisdiction of Incorporation or Organization) 04-2664794 (IRS Employer Identification No.) 40 Pequot Way Canton, Massachusetts (Address of Principal Executive Offices) 02021 (Zip Code) (781) 302-4200 (Registrant’s Telephone Number, Including Area Code) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Exchange on Which Registered Common Stock, $.01 par value Preferred Share Purchase Rights NASDAQ Global Select Market Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes Yes No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject...
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...Unit 2: Instructor Graded Assignment Equations In this and future Instructor Graded Assignments you will be asked to use the answers you found in the Unit 1 Assignment. Note: For these questions you need to cite a reliable source for information, which means you cannot use sites like Wikipedia, Ask.com®, and Yahoo® answers. If you do use those sites the instructor may award 0 points for your response. TheAssignment problems must have the work shown at all times. The steps for solving the problems must be explained. Failure to do so could result in your submission being given a 0. If you have any questions about how much work to show, please contact your instructor. Assignments must be submitted as a Microsoft Word® document and uploaded to the Dropbox for Unit 2. Type all answers directly in this Assignment below the question it applies to. All Assignments are due by Tuesday at 11:59 PM ET of the assigned Unit. Finding the National Average Price for Gas These first few questions will require you to use the internet to search for the national average price for gas. Remember to use a scholarly site for information. * List the website(s) you visited here: For this example project we will assume the national average for a gallon of gas in the US is $0.95. This figure is for example purposes only and is not the real value you are to use. 1. (2 points): What was the average price of a gallon of gas 1 year from when your business math class started...
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...Written Exam: 70 Internal Assessment: 30 Time: 3 Hours Project Economics and Management Paper Code: 3.1 Unit-1 Concepts of projects; project identification; formulation, analysis, risk, planning, design, report and appraisal; location of an enterprise; factory design and layout. Unit-II Understanding financial analysis; ratio analysis; fund flow analysis; breakeven analysis; social cost-benefit analysis; budgeting and planning process. Unit-III Sources of development finance; institutional finance to entrepreneurs; working capital management; incentives and subsidies; policies governing entrepreneurship; role of a consultancy organization. Unit-IV A review of project performance; post evaluation approach; community participation in projects; SWOT analysis; managing risk and exposure. Suggested Readings: 1. 2. 3. 4. Note: 1. 2. Four case studies will be discussed in a paper by the concerned teacher in the class. Instructions for External Examiner: The question paper will have two sections. Section ‘A’ shall comprise eight questions (two questions from each unit). The candidates will be required to attempt four questions (selecting one question from each unit). Section ‘B’ will contain one CASE STUDY which will be compulsory. All five questions will carry equal marks. Chandra, P., Project Planning Analysis, Selection, Implementation and Review, Tata McGraw Hill, New Delhi. Hedemey, J.W., Control and Management of Capital Projects, John Wiley, New York. Wysocki, R.K., R. Bick...
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...ACC 312 Fundamentals of Managerial Accounting Midterm Exam 1, Spring 2014 Test Form A SOLUTION Name ______________________________________________________________________ UTEID ____________________________________ Instructor ____________________________________________ Class Days ___________________ Time ______________________ DO NOT OPEN until given instructions to do so. Instructions Pages are numbered sequentially, including this page. Confirm that you have 11 pages. 1. Answers to Multiple-Choice Questions (first two sections) should be recorded on the Scantron. A. On your Scantron answer sheet, write and bubble in your name, UTEID, and the “Test Form” letter noted above. B. Use a #2 pencil only to mark your responses on your Scantron answer sheet. Mark clearly and erase completely as needed. Only the multiple-choice answers marked on your Scantron answer sheet will be graded. C. The time allotted for an exam includes the time required to “bubble-in” your Scantron answer sheets. It is cheating to take extra time to bubble in the answer sheet after time is up for the exam. 2. Answers to Problems should be recorded on the exam where indicated. Show your work legibly in the space provided or attach scratch paper. 3. Cell phones, books, notes, PDAs and programmable calculators are NOT allowed at your desk during the exam. Calculators capable of storing text are NOT allowed. 4. In the interest of minimizing disruptions and making sure all...
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...FORM OF AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT OF BLACKSTONE HOLDINGS I L.P. Dated as of 2007 THE PARTNERSHIP UNITS OF BLACKSTONE HOLDINGS I L.P. HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, THE SECURITIES LAWS OF ANY STATE, PROVINCE OR ANY OTHER APPLICABLE SECURITIES LAWS AND ARE BEING SOLD IN RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH LAWS. SUCH UNITS MUST BE ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE OFFERED FOR SALE, PLEDGED, HYPOTHECATED, SOLD, ASSIGNED OR TRANSFERRED AT ANY TIME EXCEPT IN COMPLIANCE WITH (I) THE SECURITIES ACT, ANY APPLICABLE SECURITIES LAWS OF ANY STATE OR PROVINCE, AND ANY OTHER APPLICABLE SECURITIES LAWS; AND (II) THE TERMS AND CONDITIONS OF THIS AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT. THE UNITS MAY NOT BE TRANSFERRED OF RECORD EXCEPT IN COMPLIANCE WITH SUCH LAWS AND THIS LIMITED PARTNERSHIP AGREEMENT. THEREFORE, PURCHASERS AND OTHER TRANSFEREES OF SUCH UNITS WILL BE REQUIRED TO BEAR THE RISK OF THEIR INVESTMENT OR ACQUISITION FOR AN INDEFINITE PERIOD OF TIME. Table of Contents | Page | ARTICLE I | | | | DEFINITIONS | | SECTION 1.01. Definitions | 1 | | | ARTICLE II | | | | FORMATION, TERM, PURPOSE AND POWERS | | | | SECTION 2.01. Formation | 11 | SECTION 2.02. Name | 11 | SECTION 2.03. Term | 11 | SECTION 2.04. Offices | 11 | SECTION 2.05. Agent...
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...countries initiated Free Trade Agreements (FTAs)which eventually led to a spurt in investments in infrastructure developments for Free Trade Zones (FTZs) and SEZs. A close examination of the evolution of SEZs in countries with similar economies as India eg; China, Iran, UAE and Jordan, will help us to understand their success stories and thereby implement those factors, in order to curb the SEZ bottlenecks faced by India today. The Shenzhen SEZ in China is a perfect example of a SEZ success story. In India, the government has been proactive in the development of SEZs. They have formulated policies, reviewed them occasionally and also ensured that ample facilities are provided to the SEZ developers as well as the companies setting up units in SEZs. These favorable conditions resulted in the biggest ever corporate rush for the development of SEZs in India. Over 234 companies received formal approval, 162 companies received in-principle approval and 100 companies received notification to set up SEZs. The Indian government is expecting an investment to the tune of Rs.53,561 crore (USD 13274 million) and an additional job creation for 15,75,452 individuals in SEZs by December 2009. Despite all the efforts, SEZ development has...
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...generally payable in money; 3. levied by the legislature; 4. assessed with some reasonable rule of apportionment; 5. imposed by the State within its jurisdiction; 6. levied for public purpose. ( Theories or bases of taxation: 1. Lifeblood Theory Taxes are the lifeblood of the nation. Without revenue raised from taxation, the government will not survive, resulting in detriment to society. Without taxes, the government would be paralyzed for lack of motive power to activate and operate it. (CIR vs Algue, Inc., et. al.) Illustrations of Lifeblood Theory: a. Collection of taxes may not be enjoined by injunction. b. Taxes could not be the subject of compensation and set-off. c. A valid tax may result in destruction of the taxpayer's property. 2. Necessity Theory Existence of a government is a necessity and cannot continue without any means to pay for expenses. a. Marshall Dictum “ Power to tax is the power to destroy” – describes the unlimitedness of the power and the degree of vigor with which the taxing power may be employed in order to raise revenue. b. Oliver Wendell Holmes Dictum “Power to tax is not the power to destroy while this court (US Supreme Court) sits” – power to tax knows no limits except those expressly stated in the Constitution. Marshall and Holmes Dictums Reconciled: Although the power to tax is almost...
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...-problems/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) Solutions Guide: 1. We focus on free cash flows rather than accounting profits because these are the flows that the firm receives and can reinvest. Only by examining cash flows are we able to correctly analyze the timing of the benefit or cost. Also, we are only interested in these cash flows on an after tax basis as only those flows are available to the shareholder. In addition, it is only the incremental cash flows that interest us, because, looking at the project from the point of the company as a whole, the incremental cash flows are the marginal benefits from the project and, as such, are the increased value to the firm from accepting the project. 2. Although depreciation is not a cash flow item, it does affect the level of the differential cash flows over the project’s life because of its effect on taxes. Depreciation is an expense item and, the more depreciation incurred, the larger are expenses. Thus, accounting profits become lower and in turn, so do taxes which are a cash flow item. 3. When evaluating a capital budgeting proposal, sunk costs are ignored. We are interested in only the incremental after-tax cash flows, or free cash flows, to the company as a whole. Regardless of the decision made on the investment at hand, the...
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...BR100 Application Setup Document ADDING NEW OPERATING UNIT - FINANCIALS Author: Creation Date: Last Updated: Version: 1.0 Release: 11.5.10 Contents SA: Review Multi-Org Profile Options 1 AP: Choose Set of Books 2 PO: Define Inventory Organization Parameters 3 AP: Define Financial Options 4 AP: Define Expense Report Templates 6 AP: Define Payables Options 7 AP: Define Banks 10 AP: Define New AP Signing Limits 13 AP: Define Tax Codes 14 AP: Define Tax Groups 15 AP: Define Tax Reporting Entities 16 OIE: Define iExpense Policies 17 Enable Expense Allocations 17 Set Up Required Expense Fields 18 Define Receipt Notification Rule Set 19 Assign Receipt Notification Rule Set 20 Define Mileage Rate Schedule 21 SA: Set OIE Profile Options 23 AR: Define AR System Options 24 AR: Open...
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... Assessment Exemplar for Higher National Unit DE3A 34: Economic Issues: An Introduction 1st edition: July 2004 Price: £20.00 Publication code: CB2154 Published by the Scottish Qualifications Authority Hanover House, 24 Douglas Street, Glasgow, G2 7NQ, and Ironmills Road, Dalkeith, Midlothian, EH22 1LE The information in this publication may be reproduced to support SQA qualifications. If it is reproduced, SQA should be clearly acknowledged as the source. If it is to be used for any other purpose, then written permission must be obtained from the Support Materials Development Officer at SQA. It must not be reproduced for trade or commercial purposes. © Scottish Qualifications Authority 2004 DE3A 34: Economic Issues: An Introduction Contents 1 2 3 Introduction How to generate evidence Assessment exemplar Scottish Qualifications Authority Assessment Exemplars for Higher National Units DE3A 34: Economic Issues: An Introduction 1 Introduction This pack must be used in conjunction with a copy of the Unit specification which details the standard of performance expected of the candidate. A copy of the Unit specification can be obtained from SQA. This pack supplements the assessment guidelines and support notes of the Unit specification. It aims to provide an example of assessment that is valid, reliable and practicable. The assessment task(s) detailed in this pack correspond to the assessment guidelines outlined in the Unit specification. The example provided...
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...in-class individual assignment. Assignment Date: 16.07.2016 from 3.00 p.m. – 6.00 p.m. CASE I (50 marks) Ocean Foods Corporation (OFC) Ocean Foods Corporation (OFC) currently process seafood with a processing unit it purchased several years ago. The unit, with an original cost of $500,000, currently has a book value of $250,000. OFC is considering replacing the existing unit with a newer, more efficient one. The new unit will cost $700,000 and will require an additional $50,000 for delivery and installation. The new unit also will require OFC to increase its investment in initial net working capital by $40,000 followed by an increase of $ 10,000 in net working capital in year 1; no further increases in net working capital are anticipated. The working capital investment will be fully recovered at the termination of the project life. The full cost of the new unit will be depreciated on a straight-line basis over 5 years to a zero balance. When the new processing unit is purchased, OFC expects to sell the existing unit for $275,000. OFC’s marginal tax rate is 40 percent. If OFC purchases the new unit, annual revenues are expected to increase by $100,000 in the first year and by $150,000 in the second year relative to the old unit. The increases are attributable to greater processing capacity. Sales in year 3 and beyond are anticipated to remain at the same level as year 2’s projections. The annual operating costs (exclusive of depreciation) for the new unit are...
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...corporations is A. The Model Business Corporation Act B. The Uniform Commercial Code C. The Revised Model Business Commercial Code D. The Standard Incorporation Act 2. Which of the following statements is true? A. The exchange of stock for services rendered is not a taxable transaction. B. The repeal of Sec. 351 would result in more existing businesses being incorporated. C. Section 351 was enacted to allow taxpayers to incorporate without incurring adverse tax consequences. D. Section 351 is an example of a negative aspect of the corporate form of business organization. 3. Which of the following statements is true? A. Formation of a partnership requires legal documentation. B. An individual engaged in the active conduct of a business must elect not to be taxed as a partnership. C. If two people (or business entities) work together to carry on any business or financial operation with the intention of making a profit and sharing that profit as co-owners, a partnership exists for federal income tax purposes. D. The partnership form of business creates double-taxation because individual partners are taxed, and the partnership is also taxed as a separate legal entity. Want to download the Final Exam answers..?? Click ACC 497 Final Exam BUSINESS ENVIRONMENT AND CONCEPTS Section 2: Economic Concepts Essential to Obtaining an Understanding of an Entity's Business and Industry 4. What effect would a decrease in interest rates by the Federal Reserve most likely...
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...amount of points allocated to each problem is as follows: Points Earned Problem 1 – 20 Points _______ Problem 2 – 30 Points _______ Problem 3 – 25 Points _______ Problem 4 – 15 Points _______ Problem 5 – 10 Points _______ Total - 100 Points _______ Each problem is composed of multiple parts, and the points allocated to each part are indicated. The contribution of this exam to your final score for the class is equal to the percentage of points you earn on this exam multiplied by (25 less the sum of your score on Quiz 1). You may use a non-programmable calculator. You may not use your textbook or notes. You have eighty-three minutes to complete the exam. Partial credit will be given, so be sure to provide support for you answers. Please note that by taking this exam you agree to abide by the Olin School Honor Code, and may be subject to appropriate action for violation of any of its covenants. GOOD LUCK! Name____________________________ Problem 1 (A) (5) Recently, some accountants have proposed new accounting standards for valuing Property, Plant and Equipment (PP&E). Currently, PP&E are valued at historical costs and then depreciated over their estimated useful lives. Rather than list PP&E at historical costs, the proposed standard would require companies to determine the...
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...Introduction Consider the following hypothetical: a sole Owner A of rentable house in Colorado considers buying a new lake LBJ house in Taxes. Instead of purchasing new house in Taxes and selling the older rentable house in Colorado, Owner A would like to process an exchange process for those two properties. He wants to take a benefit of like-kind exchange, because under Internal Revenue Code (IRC), like-kind exchange can defer gain and loss from the transaction. Therefore, it may save some tax cost. However, those IRC defined this nontaxable like-kind exchange in an extremely narrow range. Conflicts of the recognition of like-kind properties often happen between taxpayer and the Tax Count. Therefore, it may hard for owner A to take this tax advantage of like-kind exchange. This paper will focus on qualification issue of like-kind exchange. It will firstly briefly show the relevant Federal Income Tax code of like-kind exchange and highlight two controversial parts when those codes applying. Additionally, several relevant cases will be analyzed to show how like-kind exchange property is qualified in real world. Those cases also give Owner A some suggestions of house exchange. Finally, based on cases analyze above, a possible exchange plan of Owner A will be explained. General Rule of Like-kind Exchange IRS Code In general, according to§1031(a), no gain of loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment...
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