References: • Dahmash‚ N. (1995). Financial Statements and Accounting Standards Generally Accepted.. Amman-Jordan. • Kieso‚ D. E.‚ Waygandt‚ J. J.‚ & Warfield‚ T. D. (2005). Intermediate Accounting. (11 edition). Wiley Publisher. • ACCPA‚ (2006) Journal of Accountancy‚ (Monthly Journal) September 2006‚ p. 17. • Cheney‚ G. (2006). FASB‚ IASB request views on new reporting concepts. Accounting Today‚ Aug. 21-Sept. 3. • Singleton-Green‚ B. (2006). The gathering
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expected to be constant after 2013. $12‚245.67 $3‚231.31 $8‚295.53 $375.28 $19‚231.45 3. award: 1.00 point National Electric Company (NEC) is considering a $40 million project in its power systems division. Tom Edison‚ the company’s chief financial officer‚ has evaluated the project and determined that the project’s unlevered cash flows will be $2.6 million per year in perpetuity. Mr. Edison has devised two possibilities for raising the initial investment: Issuing 10-year bonds or issuing common
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AND LIMITATION OF ACCOUNTING 17 2.2.1. Objectives of Accounting: 17 2.2.2. Limitations of Accounting: 18 2.3. The accounting cycle 19 2.4. FUNCTIONS OF ACCOUNTING 19 2.5. INTERESTED PARTIES IN ACCOUNTING INFORMATION 20 2.6. COMPUTER ROLES IN MODERN ACCOUNTING 21 2.7. THE MAIN ADVANTAGES OF COMPUTERIZED ACCOUNTING SYSTEM 22 2.8. BASIC REQUIREMENTS OF COMPUTERIZED ACCOUNTING SYSTEM 23 2.9. Data Processing Equipment 24 2.10. EFFECT OF COMPUTERIZED ACCOUNTING ON FINANCIAL REPORTING 24 2.11
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calculations automatically and to change single number and update all related numbers at the click of a mouse. As one of the most popular financial software‚ spreadsheet is widely applied in areas such as accounting‚ finance‚ marketing‚ taxation‚ engineering‚ educational‚ scientific and medical fields (Ballantine‚ 1991). In 2004‚ SimCorp USA Inc and the Financial Executives Consulting Group found that about 64 percent of domestic companies depend on spreadsheet. Many authors view spreadsheet as a very
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Department of Career and Management Studies www.mcgill.ca/conted-cms/ Course Outline Course Name: Advanced Financial Accounting III ACCT 453 / CCFC 513-771 Instructor: Jim Wilson C.A. jim.wilson@mcgill.ca Course Assistant Mathew Goldsmith mathew.goldsmith@mail.mcgill.ca Email: The instructors can be reached from the email tool within WebCT Contact Information: Heico 2004 Member Inc. c/o Ivaco Rolling Mills 1040 County Road 17 L’Original‚ Ontario K0B 1K0 613-675-6887
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Questions 14 Appendix B: Financial Accounting Fall 2012 Learnsmart vs. Test Grade 15 Appendix C: Financial Accounting Spring 2013 Learnsmart vs. Test Grade 16 Appendix D: Financial Accounting Fall 2013 Learnsmart vs. Test Grade 17 List of Tables Table 1. Research Questions ……………….…14 Table 2. Financial Accounting Fall 2012 Learnsmart vs. Test Grade ……………….…. 15 Table 3. Financial Accounting Spring 2013 Learnsmart vs. Test Grade ……………..… 16 Table 4. Financial Accounting Fall 2013 Learnsmart
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To: Dr. Lynna Martinez Subject: Calaveras Vineyards Valuation As per your request‚ my associates and I have calculated a valuation for Calaveras Vineyards using the present value of cash flows. We used the valuation of future cash flows method in order to value to value the company. We have come to the conclusion‚ based on a number of future projections‚ that the best valuation of the vineyards is $4‚356‚000 in assets and $1‚104‚000 in equity. The process at determining this valuation was as
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EMBA 8500 #1 Book value of debt Book value of equity Market value of debt Market value of equity Pretax cost of debt After Tax cost of debt rd Market value weights of: Wd Debt We Equity bL Levered beta Rf Risk-free Rate Market Premium RM Ke Cost of equity WACC EBIT - Taxes (34%) EBIAT + Depreciation - Capital expense Change in Net Working Capital Free Cash Flow Value of Assets ( FCF/WACC) CASE # 31 0% Debt 100% Equity $ $ 20‚000 $ $ 20‚000 7.0% 4.62%
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Cost of Capital The required return necessary to make a capital budgeting project‚ such as building a new factory‚ worthwhile. Cost of capital includes the cost of debt and the cost of equity. AW´s Cost of Equity Capital RS = RF + β x (RM - RF) AW´s Cost of Capital of All Equity RS = R0 + B/S (1 – t c) (R0 – RB) Cost of Equity Capital for WWE´s Widget Venture RS = R0 + B/S (1 – t c) (R0 – RB) RWACC for WWE´s Widget Venture RWACC = B/S +B RB (1 – t c) + S/S +B RS APV Taking into
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Q1: Barrowing can create a value if it is within a feasible point‚ beyond than that it might have a negative impact on the company value. A company can benefit from the tax shield through borrowing which would increase the value. The change in WACC would result to a change in the value of the assets. Q2: The increase in value gets apportioned based on the market value weights of Debt and Equity. Based on the calculation‚ 50% to debt and equity‚ market value weights equals to 43% debt and
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