Annual Report 2011 An overview Operating result (EBIT) Figures in EUR million 1‚142.5 1‚177.9 928.0 841.4 819.9 732.1 1‚200 800 600 538.8 470.9 1‚000 400 148.1 91.6 200 0 20021 20031 20041 2005 2006 2007 2008 2009 20102 Group net income (loss) 2011 Figures in EUR million 733.7 721.7 800 748.9 606.0 514.4 354.8 267.2 700 600 500 400 279.9 300 200 49.3 20021 20031 20041 2005 100 (127.0) 2006 2009 2007 2010 2011 0 2008 Policyholders’ surplus Figures
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Internal auditors are responsible to the management of the companies that they work for‚ while external auditors are responsible to financial statement users. Because internal auditors are responsible to management‚ their decisions about materiality and risks may differ from the decisions of external auditors. 26-2 The two categories of standards in the IIA International Standards for the Professional Practice of Auditing are (1) Attribute Standards and (2) Performance Standards. The Attribute Standards
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INVESTMENT & PORTFOLIO MANAGEMENT FIN3IPM TUTORIAL ANSWERS TUTORIAL 1: INTRODUCTION CHAPTER 1: QUESTION 1 a The process of investment concerns the purchase of assets which will provide a future return to allow for future consumption or further investment. Individuals have to make choices between current and future consumption and because their pattern of income does not always match their pattern of consumption‚ they are required to make investments. Throughout an individual’s life
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and parts 5 companies: Altman Z score is calculated for the following companies to check their default risk classification for 3 years that are 2009‚ 2010 and 2011. * Agriautos industries Ltd * Atlas battery Ltd * Honda atlas cars Ltd * Exide Pakistan Ltd * Pak Suzuki motors Ltd Altman’s Z-Score model: Altman’s Z score model is used to classify the borrower’s default risk. This classification depends on the values of various ratios of the borrower which are given specific weights
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leader who is high in both concern for people and concern for production would rate ________. Answer Selected Answer: (9‚9) Correct Answer: (9‚9) • Question 2 1 out of 1 points Recent studies indicate that this measure of ability is the best predictor of who will be a leader in an organisation. Answer Selected Answer: Emotional intelligence. Correct Answer: Emotional intelligence. • Question 3 1 out of 1 points A team ’s ________
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Risk Management A guide to help you implement Risk Management in your organization [pic] “The person who risks nothing‚ does nothing‚ has nothing‚ and is nothing.” Janet Rand Joe Teeples 650 Duvall Ave NE #S1611 Renton‚ Washington 98059 Table of Contents Chapter 1 Introduction The Who‚ What‚ When‚ Where and Why of Risk Management. Chapter 2 Just What is Risk Management
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| |Financial Management Section C | |Homework 2: Integrated Case Questions | Chapter 2 Integrated Case 2-11 A) In a well-functioning economy‚ capital flows efficiently from those with surplus capital to those who need it in one of three ways: • Direct transfers: occur
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Will My Risk Parity Strategy Outperform? Robert M. Anderson∗ University of California at Berkeley Stephen W. Bianchi† University of California at Berkeley Lisa R. Goldberg‡ MSCI and University of California at Berkeley November 10‚ 2011§ Abstract We gauge the return-generating potential and risk inherent in four investment strategies: value weighted‚ fixed mix‚ and levered and unlevered risk parity‚ over an 85-year horizon. There are three essential conclusions from our study. First‚ even over periods
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THE STRATEGY EXECUTION SOURCE Article Reprint No. B0911A Risk Management and the Strategy Execution System By Robert S. Kaplan For a complete list of Harvard Business Publishing newsletters: http://newsletters.harvardbusiness.org For reprint and subscription information for Balanced Scorecard Report : Call 800-988-0866 or 617-783-7500 http://bsr.harvardbusinessonline.org For customized and quantity orders of reprints: Call 617-783-7626 Fax 617-783-7658 For permission
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Yen will give the Japanese automakers a cost reduction in manufacturing operations. From the case we know that the average Japanese car had between 20% and 40% Japanese content‚ A Yen depreciation‚ therefore‚ had the potential to reduce cost of goods sold substantially. This would allow Japanese automakers to pass cost reductions to end-customers in the forms of incentives or cutting price. From the case we also read that customers are quite sensitive about price change‚ a price decrease would increase
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