Understanding the relation between financial statements and constructing a pro forma balance Sheet. Role of the presenting team. You are taking the role of Groupon’s management team whose task is to construct a projected balance sheet requested by a prospective lender (bank) as a part of loan application (using projections provided below). Explain and illustrate the process of constructing the projected balance sheet and what assumptions you needed to make (if any). Try to integrate answers to
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Background Lessee Ltd., a British company operating under IFRS, leased equipment from Lessor Inc. for a period of three years. Lease payments of $100,000 are paid annually by Lessee Ltd., as well as $2,000 of other expenses including insurance, taxes and maintenance. The lessee’s incremental borrowing rate is listed at 11%, and the lessor’s implicit rate is calculated at 10%. The equipment reverts back to the lessor at the termination of the lease. The equipment has a 4-year useful life and a fair
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Sage Peachtree Accounting Complete and Microsoft Dynamics GP Software Evaluation Sage Peachtree Accounting Complete and Microsoft Dynamics GP are among the most widely used accounting software. An analysis of these two accounting software packages follows. Sage Peachtree Accounting Complete Peachtree is an accounting software program available to small and large businesses to include specialties for certain industries; is it ranked amongst the top accounting software program in the market
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Tax and Social Security Guide: 2011 – 2012 This guide is an initiative of the CPA Australia Retirement Savings Centre of Excellence. Information is current – based on legislation as at 1 July 2011 and updated for social security as at 20 March 2011. CPA Australia Tax Rates Resident personal tax rates 1/7/11 – 30/6/12 Taxable income $ Up to 6,000 6,001 – 37,000 37,001 – 80,000 80,001 – 180,000 Excess over 180,000 Marginal rate Nil 15% 30% 37% 45% Tax payable $ Nil 15c for each $1 over 6,000
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DEFINITION OF MYOB (Mind Your Own Business) MYOB was founded in the late 1980s by Christopher Lee and a team of developers at Teleware, Inc., who developed accounting software. Teleware was purchased by Best Software, Inc. (now part of Sage) in 1993. Data-Tech Software was the Australia republished of the MYOB products and, in 1997 entered into an agreement with Best Software to buy the company (renamed MYOB, Inc.) and bought the intellectual property rights to the software. In 1999, Data-Tech
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What would your balance be 4 years from now if the bank used quarterly compounding rather than annual compounding? c. Suppose you deposited the $1,000 in 4 payments of $250 each at the end of Years 1, 2, 3, and 4. How much would you have in your account at the end of Year 4, based on 8% annual compounding? d. Suppose you deposited 4 equal payments in your account at the end of Years 1, 2, 3, and 4. Assuming an 8% interest rate, how large would each of your payments have to be for
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COMMERCIAL BANK OF ETHIOPIA CUSTOMER ACCOUNTS AND TRANSACTION SERVICE TECHNICAL TRAINING MANUAL May 2014 Commercial Bank of Ethiopia Contents PART I ............................................................................................................................................................ 1 Chapter one .................................................................................................................................................. 1 Introduction .............
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Most credit card companies require that one pays a minimum monthly payment of 2% of the balance. Based upon a balance of $ 5,270, what would the minimum monthly payment be? To figure this out I need to multiply $5,270 by 0.02, which equals a minimum monthly payment of $105.40. Now, considering the minimum monthly payment, I want to determine the amount of interest and the amount that is being applied to the principle. To figure out the interest and the amount being applied to the principle I need
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Kolej Profesional MARA , Seri Iskandar FINANCIAL MANAGEMENT [FIN 2513] Diploma in International Business Semester 4 TIME VALUE OF MONEY Name : FATHIN SYAZWANI BT MOHAMAD ZAKRI (SIB 12-01-3337) Program : Diploma in International Business (DIB) Class : DIB 4A Session : Jul-Dec 2013 Date of submission : 21st October 2013 Lecturer : Miss
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5. When accounting for a nonoperating lease, the lessee records the leased asset at the present value of the minimum lease payments or the asset's fair value, whichever is lower. True False 6. If the lessee is expected to take ownership of a leased asset at the end of the lease term, the lessor must use an estimated residual value when calculating the lease payments necessary to achieve a desired rate of return. True False 7. A bargain purchase option is defined as the option of
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