IFRIC 17 Distributions of Non-cash Assets to Owners was developed by the International Financial Reporting Interpretation Committee and issued by the International Accounting Standards Board in November 2008. Its effective date is 1 July 2009.
Topic 14 - Selecting distributions, distribution fitting and the normal curve using @Risk. After completing this unit, you should be able to: Select distributions other than the normal distribution, simulate portfolio returns and free cash flows by fitting a distribution, insert distributions using @Risk menu.
Topic 15 - Building stochastic free cash flow and DCF models using excel and @Risk. After completing this unit, you should be able to: Forecast and simulate free cash flows, value common stock using discounted cash flow, use other distributional assumptions in @Risk to create stochastic DCF models.
Give future and current managers a thorough understanding of the financial theory that is essential for developing and implementing effective financial strategies in business today. Brigham/Ehrhardt's leading FINANCIAL MANAGEMENT: THEORY AND PRACTICE, 13E is the only text that strikes a perfect balance between solid financial theory and practical applications.
This is a book for businesspeople. All decisions in a business
organization are made in accordance with how they will affect
the organization’s financial performance and future
financial health. Whether your background is in marketing, manufacturing,
distribution, research and development, or the current
technologies, you need financial knowledge and skills if you are to
really understand your company’s decision-making, financial, and
overall management processes.
This is a book for businesspeople. All decisions in a business organization
are made in accordance with how they will affect the
organization’s financial performance and future financial health.
Whether your background is marketing, manufacturing, distribution,
research and development, or the current technologies, you
need financial knowledge and skills if you are to really understand
your company’s decision-making, financial, and overall
The Academy Awards have been broadcast on television since 1953, when the
show was sponsored by RCA Victor and televised by NBC. (Levy, 24) The show is
currently contracted to the ABC network and has consistently captured very large
audiences. The impact of Academy Awards on films and their creators has been widely
discussed. As Emanuel Levy notes,
[W]inning an Oscar means not only prestige but hard cash at the box office. Winning the Best Picture
award can add up to twenty or thirty million dollars in movie ticket sales....
Empirical research has found that highly profitable firms face a lower cost of
equity funding (for example, Hail and Leuz (2006)). This work has not looked at
banks. In the third column of Table 1, we use earnings (defined as net income
over equity) to proxy for future profitability. We find that high profitability
compresses the market beta. In other words, more profitable banks tend to be
less correlated with the market return, facing therefore a lower risk premium.
Chapter 5 – Common probability distributions. This chapter define and explain a probability distribution; distinguish between and give examples of discrete and continuous random variables; define a probability function, state its two key properties, and determine whether a given function satisfies those properties;...
(BQ) Part 1 book "Quantitative investment analysis workbook" has contents: The time value of money, discounted cash flow applications, statistical concepts and market returns, probability concepts, common probability distributions, sampling and estimation, correlation and regression,...and other contents.
(BQ) Part 1 book "The controllers function - The work of the managerial accountant" has contents: The controller’s job, internal control, planning and the strategic plan, long range financial plan, annual plan, distribution expenses, direct materials and labor, general and administrative expenses, cash and investments,...and other contents.
Corporate financial managers continually invest funds in assets, and these assets produce income and cash flows that the firm can then either reinvest in more assets or distribute to the owners
of the firm. Capital investment refers to the firm’s investment in assets, and these investments may be either short term or long term in nature. Capital budgeting decisions involve the long-term commitment
of a firm’s scarce resources in capital investments. When such a decision is made, the firm is committed to a current and possibly future outlay of funds....
Asset allocation investigates the optimal division of a portfolio among different asset
classes. Standard theory involves the optimal mix of risky stocks, bonds, and cash
together with various subdivisions of these asset classes. Underlying this is the insight
that diversification allows for achieving a balance between risk and return: by using
different types of investment, losses may be limited and returns are made less volatile
without losing too much potential gain.
This paper constructs comparable and parsimonious measures of institutions’ expo-
sure to market risk by representing their positions as portfolios in a small number of
bonds. We start from balance sheet data from the US Reports on Bank Conditions
and Income (“call reports”). We show how to construct, for any bank and for each
major class of credit market instruments, replicating portfolios of bonds that have ap-
proximately the same conditional payoﬀ distribution. We then compare portfolios across
You’ll make money on a mutual fund if the value
of its investments goes up and you sell the fund
for more than you paid for it. This is called a
capital gain. If you sell the fund for less than
you paid for it, this is called a capital loss.
Depending on the fund, you may also receive
distributions of dividends, interest, capital
gains or other income the fund earns on its
investments. However, unless you ask for the
distributions to be paid in cash, the fund will
usually reinvest them for you. ...
In general, you’ll have to pay tax on the money
you make on a fund. Interest, dividends and
capital gains are all treated differently for tax
purposes and that will affect your return from an
investment. Keep in mind that distributions are
taxable in the year you receive them, whether you
get them in cash or they are reinvested for you.
However, if you hold your mutual funds in a
registered plan, you won’t pay income tax on the
money you make as long as that money stays
in the plan. When you withdraw money from the
plan, it will...
We compare the predicted values with actual correlations for the sample firms and investigate the cross-sectional relation between them to assess the extent to which the simple model described in the previous section fits the data. First, we report the average values of the predicted serial-and cross-correlations among earnings changes, operating cash flow changes and accrual changes.
The inverse relationship between coupon rate and price sensitivity results from the distribution of
cash flows. Compared to a lower coupon bond, more of the total cash flow of a high coupon
security will come from interest payments. Interest payments are received throughout the life of
the bond, which means that, relative to a lower coupon bond, a higher coupon bond will have a
higher proportion of its cash flow returned sooner. The earlier the cash flow occurs, the less
price sensitive its cash flow is.
As discussed above, longer maturity cash...
Chapter 15 - Partnerships: Termination and liquidation. When you finish this chapter, you should: Determine amounts to be paid to partners in a liquidation; prepare journal entries to record the transactions incurred in the liquidation of a partnership; determine the distribution of available cash when one or more partners have a deficit capital balance or become personally insolvent;...