Lecture 1 （Chapter 1） Introduction to Corporate Finance McGraw-Hill/Irwin Copyright © 2010 by the McGraw-Hill Companies‚ Inc. All rights reserved. 会计循环 会计循环过程 原始凭证 记账凭证 记账 过账结算 试算平衡 报表编制 总账 分类账 明细账 基本原则：账证相符、账账相符、账表相符、账实相符 1-1 财务管理的基本框架 企业规模 理财环境 目标利润 筹资渠道 财务策略 财务预算 筹资方式 财务目标 短期投资 股利理论 总体分析 营运资金管理 股利政策 指标分析 成本控制 股利方式 综合分析 资金预测 资金筹集 资金投放 收益分配 财务分析 时间价值 资金成本 财务关系 风险分析 资金结构 实业投资 税务政策 分析方法 证券投资 发展规模 分析报告 财务关系 财务管理制度 1-2 财会管理的构架
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WEEK 4 ASSIGNMENT 1 1 Week 4 Assignment 1 Edwin Lopez-Petrilli Professor William Hall Fundamentals of Corporate Finance Tuesday July 26‚ 2011 WEEK 4 ASSIGNMENT 1 2 Explain why market prices are useful to a financial manager. Financial managers are tasked with making investment decisions‚ financing‚ and managing cash flows from operating activities therefore when prices from competitive markets determine the cash value of goods and the price determines the value of the goods. Financial
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Fundamentals of corporate finance (European edition) by David Hillier Quartile 4 IBA Chapter 1 - 14 Chapter 1 Introduction to corporate finance 1.1 Corporate finance and the financial manager Corporate finance must be considered with three basic types of question: 1. What long-term investments to make 2. Where will we get the money for those investments from 3. How will we manage everyday financial activities 1. What long-term investment to make: To process of planning and
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Problem set 2 16-1. Gladstone Corporation is about to launch a new product. Depending on the success of the new product‚ Gladstone may have one of four values next year: $150 million‚ $135 million‚ $95 million‚ and $80 million. These outcomes are all equally likely‚ and this risk is diversifiable. Gladstone will not make any payouts to investors during the year. Suppose the risk-free interest rate is 5% and assume perfect capital markets. a. What is the initial value of Gladstone’s equity
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Fundamentals of finance By the end of this reading‚ you will understand What the field of Financial is? How Financial Markets work? What different financial products are? What is Finance? Finance is the study of how and under what terms money are allocated between lenders and borrowers. The term finance may incorporate any of the following: o The study of money and other assets o The management and control of those assets o Profiling and managing project risks Finance is distinct from
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Corporate Finance Revision List Topic | Study Program | The Realm of Corporate Finance and Efficient Market Hypothesis | * Overview of finance’s main functions & its importance to organisations. * Importance of value creation as the primary objective of managers * Efficient Market Hypothesis (EMH) | Financial Statement Analysis | * Overview of calculating & interpreting accounting & financial ratios from corporate financial statements & understanding their significance in corporate
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2013) Today‚ the company employed 171 700 employees‚ (hugely unionized labor force)‚ the actual CEO is W James Mc Nerney. According to Yahoo finance‚ in 2012‚ the firm ranks third in sales of military equipment on the global market. It is the second maker of large commercial jets behind Airbus and the second defense contractor behind Lockheed Martin” (finance‚ 2013) It’s a public listed company traded on the New York Stock Exchange it’s a component of Down Jones and S&P 500. The company stock ticker
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Aswath Damodaran 2 THE OBJECTIVE IN CORPORATE FINANCE “If you don’t know where you are going‚ it does’nt maCer how you get there” First Principles 3 Aswath Damodaran 3 The Classical Viewpoint 4 ¨ ¨ ¨ ¨ Van Horne: "In this book‚ we assume that the objecKve of the firm
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THE PRINCIPLES OF CORPORATE FINANCE CHAPTER 1: The time value of money We are going to link the present and the future by using the notion of interest rate that could be called discount rate‚ required rate of return or cost of capital. Finance is all about cash flows but more precisely about the exact date of the realization of the cash flow. I) PRESENT VALUE Example 1: What is the value today of $110 to be received in one year? - suppose the interest rate ‚ r =10%
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IMBA -FIN 6425 – Quiz 1 Corporate Finance - Solution– Nimalendran This is an individual quiz and you should submit the answers on-line by the scheduled date. You are allowed to use any resources EXCEPT help from any other person. You are allowed to use EXCEL for the calculations. 1. Barkley Credit Union sets a low annual percentage rate (5%) for all its credit card customers instead of basing the interest rates on the customers’ credit scores. Consequently Barkley is exposed to ______________
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