Value of Assets = Debt + Equity or Assets = D + E If I buy a company, I buy its stock (equity) and assume its debt (bonds and loans). Buying a company’s equity means that I actually gain ownership of the company – if I buy 50 percent of a company’s equity, I own 50 percent of the company. Assuming a company’s debt means that I promise to pay the company’s lenders the amount owed by the previous owner. The value of debt is easy to calculate: the market value of debt is equal to the book value of debt
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knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences across multiple operating systems, devices and media. The company operates through three business segments: Digital Media, Digital Marketing and Print & Publishing. The Digital Media segment provides tools and solutions that enable individuals, small businesses and enterprises to create, publish, promote and monetize
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Executive Summary The retail industry is an extremely competitive environment that poses many challenges for Costco Wholesale Corporation and its competitors. Since many of the stores offer the same products, it may sometimes be very hard for customers to differentiate between retail stores. Even though the economy is recovering from a recession, the retail business is still a mature industry and is improving very steadily. Costco and its competitors are affected by the same political, economic, social
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CHAPTER 13 Financial Statement Analysis LEARNING OBJECTIVES After you have mastered the material in this chapter, you will be able to: 1 2 3 4 5 6 7 8 Describe factors associated with communicating useful information. Differentiate between horizontal and vertical analysis. Explain ratio analysis. Calculate ratios for assessing a company’s liquidity. Calculate ratios for assessing a company’s solvency. Calculate ratios for assessing company management’s effectiveness. Calculate ratios for assessing
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3 KEY PERSONAL Page 5 ORGANIZATIONAL STRUCTURE Page 8 MISSION, GOALS AND OBJECTIVES Page 9 ORGANIZATIONAL CULTURE AND LEADERSHIP Page 11 CURRENT STRATEGIES Page 12 INDUSTRY/COMPETITION Page 17 MARKETING AUDIT Page 19 FINANCIAL REVIEW Page 22 ANALYSIS OF MODELS Page 29 SWOT Page 29 FOUR FACTORS OF THE COMPETITIVENESS ENVIRONMENT Page 35 PORTER’S FIVE FORCES Page 39 BCG MATRIX Page
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13 Financial Statement Analysis LEARNING OBJECTIVES After you have mastered the material in this chapter, you will be able to: 1 2 3 4 5 6 7 8 Describe factors associated with communicating useful information. Differentiate between horizontal and vertical analysis. Explain ratio analysis. Calculate ratios for assessing a company’s liquidity. Calculate ratios for assessing a company’s solvency. Calculate ratios for assessing company management’s effectiveness. Calculate ratios for assessing
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for using debt is the interest on debt is tax deductible which effect lower cost of debt 3. Financial flexibility- the capability to increase fund under crucial condition on reasonable terms 4. Manager attitude- how much to loan depends on manager’s attitude regarding financial risk. These four factors largely determine the target of capital structure. After analyzing those factors a firm set up a capital structure which is optimal structure and indicate company increasing fund in future
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Book Value / Share Current ratio $31.21 - $55.90 S / NYSE 1.3 230.4 million 5,028,000 shrs 10.82B $28.3 1.32 Valuation (per share) Current Price Comparables DCF Analysis Residual Income DD Analysis Abnormal Earnings $34.78 $36.60 $36.94 $38.38 $27.97 $46.49 Summary Financials (in millions) for 2004 Revenue Earnings $36.6 billion $550 million 1 Executive Summary Sears is following a differentiated approach in a competitive industry. Consequently, Sears has
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------------------------------------------------- HWA TAI FOOD INDUSTRIES SDN BHD: COMPANY BACKGROUND * Hwa Tai Industries Berhad is one of the premier and longest established biscuit manufacturers in Malaysia. Established in 1962 and listed on the Stock Exchange Malaysia in 1992. * The company has two production plants in Malaysia. Hwa Tai registered office in Batu Pahat, Johor and headquartered in Selangor Darul Ehsan, Malaysia. Business principally engaged in manufacturing of confectionery
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true to both its local and family roots, this high quality beer has become an icon throughout the nation. Another extremely successful and predominant corporation in the beverage-alcohol industry is that of Anheuser-Busch Inbev SA (BUD) which will serve for the purposes of this paper as a benchmark for how a firm should be performing and operating in this field. Being that Anheuser-Busch has been operating since 1852, has 13 breweries nation-wide, and is one of the most iconic breweries in the world
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