Double taxation in the US (only concerned with ‘C’ corporations) * Corporate tax rate is 34% * Personal tax rate on dividend income is 15% * Dividend imputation in Australia (franking credits) * You only pay the amount required to make your total tax rate your personal Dividend Imputation * Australian company tax rate: τc=30% * Company earning for $1 dividend income: gross dividend=div1-tc * For $1 dividends, company must earn $1.4286 @ 30% company
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Rate? A: Cash reserve Ratio (CRR) is the amount of funds that the banks have to keep with RBI. If RBI decides to increase the percent of this, the available amount with the banks comes down. RBI is using this method (increase of CRR rate), to drain out the excessive money from the banks.3 4. What is SLR Rate? A: SLR (Statutory Liquidity Ratio) is the amount a commercial bank needs to maintain in the form of cash, or gold or govt. approved securities (Bonds) before providing credit to its customers
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Fixed Income Securities Tools for Today’s Markets Second Edition BRUCE TUCKMAN John Wiley & Sons, Inc. Copyright © 2002 by Bruce Tuckman. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107
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Catastrophe Bonds Comparing and Contrasting Features across the Convergence Spectrum February 2012 Rick Miller Co-head, Insurance-Linked Securities Towers Watson Capital Markets (212) 309–3861 rick.miller@towerswatson.com Michael Popkin Co-head, Insurance-Linked Securities Towers Watson Capital Markets (212) 309–3475 michael.popkin@towerswatson.com BACKGROUND The convergence market is alive and well. The property catastrophe reinsurance and insurance-linked securities (ILS) markets are witnessing
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accounting for notes payable. 3 Explain the accounting for other current liabilities. 4 Explain why bonds are issued, and identify the types of bonds. 5 Prepare the entries for the issuance of bonds and interest expense. 6 Describe the entries when bonds are redeemed or converted. 7 Describe the accounting for long-term notes payable. 8 Identify the methods for the presentation and analysis of long-term liabilities. ✓ The Navigator Scan Study Objectives Read Feature Story Read Preview Read text
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For the exclusive use of D. Wang, 2015. 9 -2 1 1 -0 6 3 REV: SEPTEMBER 27, 2012 TIMOTHY A. LUEHRMAN DAVID LANE Tombstones Capital markets offer corporations varied ways to raise funds. This Note presents summary information for a selection of corporate securities issued during 2009-2010 following the financial crisis of 2008–2009. They include three issues of senior unsecured notes, one floating rate note, one common stock offering, and one convertible note. The issuers are Microsoft
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typically by underwriting the issue. PRIMARY MARKET – a market in which new securities are offered to the public. SECONDARY MARKET – a market in which previously issued securities are traded among investors. GLOBALIZATION – tendency toward a worldwide investment environment, and the integration of international capital markets. PASS-THROUGH SECURITIES – pool of loans sold in one package. Owners of pass-troughs receive all of the principal and interest payments made by the borrowers.
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Earnings per share * Ratio analysis * Basic Functions of an Accounting System * Interpret and record business transactions * Classify similar transactions into useful reports. * Summarize and communicate information to decision makers. * Objectives of Financial Reporting (general to specific) * Information useful in making investment and credit decisions * Information useful in assessing amount, timing and uncertainty of future cash flows.
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ros57395_ch01.qxd 12/21/04 2:45 PM Page 1 Part 1 The Global Financial System in Perspective Try to imagine living in a world in which there are no financial institutions, no financial markets, and no financial assets. In such a world, there would be no opportunity to borrow against future income in order to purchase a home or an automobile, or to finance an education. Nor would you be able to save some of your current income (and, thereby, accumulate wealth over time) to handle the future
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Pricing Theory and multifactor models of risk and return .... 32 Chapter Twelve: Market Efficiency and Behavioral Finance........................................... 35 Chapter Fourteen: Bond prices and yields ........................................................................ 43 Chapter Fifteen: The Term Structure of Interest Rates..................................................... 48 Chapter Sixteen: Managing Bond Portfolios .................................................................
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