Massive Aggregate Transmission and Commercial (AT&C) losses have long crippled the financial viability of State Distribution Companies (SDCs). To address this problem a targeted funding mechanism was introduced for the first time in 2003 in the form of the Accelerated Power Development Reforms Programme (APDRP). Its key objectives were to reduce AT&C losses, improve customer satisfaction as well as financial viability of the SDCs, adopt a systems approach and introduce greater transparency. Unfortunately
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Memorandum To: Accounting Manager From: Matthew Montag (CPA) Date: 6/6/2011 Re: Resignation of CFO and SEC Investigation As you are aware, Martin McCord has resigned unexpectedly from the Newman Equity Group. The U.S. Securities and Exchange Commission (SEC), requested documentation to initiate an investigation of company accounting practices. CFO Resignation and SEC Investigation Due to this investigation, Newman Equity Group
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Nike Kim Ford is a portfolio manager for the NorthPoint Group and she is assessing whether to buy shares of Nike stock for her NorthPoint Large Cap Fund. Ms. Ford has asked her assistant, Joanna Cohen, to estimate Nike’s cost of capital so Ms. Ford could make an informative decision whether to buy Nike shares for her Fund. I will analyze Ms. Cohen’s methodologies and results of Nike’s cost of capital. Ms. Cohen used the book value for debt and equity when she should have used the market value
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and department direction are often responsible for financial management. Accounting Concepts Financial management is the management of an organization’s finances. The goal of financial management is to maximize the wealth or profit of an organization and to achieve its other goals. Financial management includes accounting and finance. Accounting is the management of an organization’s financial information. Accounting includes financial and managerial accounting. Financial accounting
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October 31, 2010 Problem 18-11 A. Capital Budget = $10,000,000; Capital structure = 60% equity, 40% debt Retained Earnings Needed = $10,000,000 (0.6) = $6,000,000 B. Residual Dividends = Net Income - Retained earnings needed to finance new investment $8,000,000 - $6,000,000 = $2,000,000 DPS = $2,000,000/1,000,000 = $2.00 Payout ratio = $2,000,000/$8,000,000 = 25% C. R/E Available = $8,000,000 - $3.00 (1,000,000) R/E Available = $8,000,000 - $3,000,000
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Running Head: Defining Financial Terms Defining Financial Terms University of Phoenix, SF Campus Michael Charley FIN 370 – Finance for Business December 8, 2010 Instructor: Deepak A. Patel Finance is to apply for a credit loan to finance a home, car, and business, from a Bank when funds are needed for this type of huge purchase * Efficient market- Profit driven individuals that act on their own; where all assets, securities reflect any and all available public information at any
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1-The way a creditor such as a bank or supplier obtains security for the credit they extend is by taking collateral in the debtor’s personal property. In order for a security interest to be legally enforceable it needs to be attached to the goods of the debtor. The UCC [9-203] lists the three basic requirements for attaching the security interest to the goods of the debtor. The first is an agreement where the debtor grants the creditor a security interest in the specific property the debtor has
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Cash Management Services Cash management services are offered to businesses to assist them in handling their finances. The term cash management can be used to describe a wide range of services offered by banks from payroll to investments to a standard bank account. This paper will analyze the cash management services offered by Metro Bank, Susquehanna Bank, and PNC Bank. PNC Bank offers several international banking tools. These include international bank account numbers, also known as
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Then we have AICPA that evaluates the pronouncements of the various G&NP accounting standards bodies in depth in the course of preparing a series audit guidelines. Q1-7 Because significant revenues from sales of services are not available to finance governmental type activities, the government must raise financial resources from other sources such as Taxation and intergovernmental revenues. These are the two primary examples of these revenues. Q1-8 Because the day to day accounting and interim
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* Finance The management of revenues; the conduct or transaction of money matters generally, especially those affecting the public, as in the fields of banking and investment. * Efficient Market A market in which the values of securities at any instant in time fully reflect all available information, which results in the market value and the intrinsic value being the same. * Primary Market A Primary market is a market in which transaction insecurities offered for the first time to
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