...discount (10% × 276.36) $27.64 Copyright © 2012 Pearson Canada Inc 11 Scott, Financial Accounting Theory, 6th Edition Instructor’s Manual P.V.’s balance sheet at time 2 would be: P.V. Ltd. Balance Sheet As at Time 2 Financial Asset Cash: (140 + 14 + 150) $304.00 Chapter 2 Shareholders’ Equity Opening balance: $276.36 (286.36 - 10.00 dividend) Capital Asset, at Present value 0.00 $304.00 $304.00 Net income 27.64 Thus, at time 2 the shareholders have: Cash from dividend Interest at 10% on cash dividend, for year 2 Value of firm per balance sheet $10.00 1.00 304.00 $315.00 This is the same value as that of the firm at time 2, assuming P.V. Ltd. paid no dividends (see Question 1). Consequently, the firm’s dividend policy does not matter to the shareholders under ideal conditions. It may be worth noting that a crucial requirement here, following from ideal conditions, is that the investors and the firm both earn interest on financial assets at the same rate. 3. Year 1 At time 0, you know that if the bad economy state is realized, ex post net income for year 1 will be a loss of $23.97. If the good economy state is realized, ex post net income...
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...ineffective in uncovering many frauds. (3-Brazel) Auditors and forensic accountants find that when nonfinancial performance measures and financial data are compared inconsistencies can be exposed, and fraud risk revealed, that otherwise would have gone undetected. (3-Brazel) There are a number of nonfinancial performance measures which can raise questions about financial reporting and the corporations environment; although they are not directly related to the accounting of the business they function as possible indicators or symptoms of fraud; this can help detect wrong doing sooner than analytical procedures alone. This paper will describe common nonfinancial performance measures and through the use of a fictional corporation, show how nonfinancial performance measures and can expose fraud and fraud risk and discuss the use of red-flags and the future of nonfinancial measures in auditing, investing and investigations. II. NON FINANCIAL MEASURES AND CORPORATION X The American Association of Accountants (AAA) published a commentary paper on the NFM research done by Brazel et al, below is financial statement data from a fictional corporation created to illustrate the findings. (Figure 1)The percentage of sales figures for cost of goods sold, gross margin, and operating expenses remained steady throughout the three years while net income increased. Revenue grew at a steady rate while cost of goods sold, gross margin, operating...
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...The Effects of Mandatory IFRS Adoption in the EU: A Review of Empirical Research October 2014 Information for Better Markets An initiative from the ICAEW Financial Reporting Faculty The Effects of Mandatory IFRS Adoption in the EU: A Review of Empirical Research forms part of the Information for Better Markets thought leadership programme of ICAEW’s Financial Reporting Faculty. ICAEW operates under a Royal Charter, working in the public interest. As a world leading professional accountancy body, ICAEW provides leadership and practical support to over 142,000 members in more than 160 countries, working with governments, regulators and industry to ensure the highest standards are maintained. The ICAEW Financial Reporting Faculty provides its members with practical assistance and support with IFRS, UK GAAP and other aspects of business reporting. It also comments on business reporting issues on behalf of ICAEW to standard setters and regulators. Its Information for Better Markets thought leadership programme subjects key questions in business reporting to careful and impartial analysis so as to help achieve practical solutions to complex problems. The programme focuses on three key themes: disclosure, measurement and regulation. We welcome comments and enquiries on this report and on the other aspects of the Information for Better Markets programme. To contact us, please email bettermarkets@icaew.com. © ICAEW 2014 All rights reserved. If you want to reproduce...
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...Basics Mergers and Acquisitions Basics All You Need To Know Donald DePamphilis Amsterdam • Boston • Heidelberg • London New York • Oxford • Paris • San Diego San Francisco • Singapore • Sydney • Tokyo Academic Press is an imprint of Elsevier Academic Press is an imprint of Elsevier 30 Corporate Drive, Suite 400, Burlington, MA 01803, USA Elsevier, The Boulevard, Langford Lane, Kidlington, Oxford, OX5 1GB, UK Copyright © 2011 Elsevier Inc. All rights reserved No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or any information storage and retrieval system, without permission in writing from the publisher. Details on how to seek permission, further information about the Publisher’s permissions policies and our arrangements with organizations such as the Copyright Clearance Center and the Copyright Licensing Agency, can be found at our website: www.elsevier.com/permissions. This book and the individual contributions contained in it are protected under copyright by the Publisher (other than as may be noted herein). Notices Knowledge and best practice in this field are constantly changing. As new research and experience broaden our understanding, changes in research methods, professional practices, or medical treatment may become necessary. Practitioners and researchers must always rely on their own experience and knowledge in evaluating and using...
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...Objectives (TCOs): A | Given an organizational requirement to conform business practices to both the law and best ethical practices, apply appropriate ethical theories to shape a business decision. | I | Given specified circumstances of a business decision to expand to international markets, determine what international legal requirements or regulatory controls apply. | Topics for This Week's Discussion * Introduce yourself to your professor and the rest of the class. (not graded) * Thread over TCO A/I (graded) * Ethics and Patent Rights Post 9/11 (graded) * Q & A Forum for your questions and comments (not graded) | | There is a drop down arrow next to the "Select a Topic" box. Click on this arrow to select topics for discussion. | ------------------------------------------------- Top of Form Select a Topic: Bottom of Form The World Bank Situation (graded) | Class, please read Chapter 2, problem 5 from the Jennings text, p. 72. This week, we will discuss the Wolfowitz situation at the World Bank. Consider the questions at the end of the problem as you make comments in the threads this week. What are the ethics here? Was Wolfowitz trying to do the right thing? Does that make a difference ethically? Throughout the week, I will bring in further questions. Be sure to read the lecture and the international ethics article stated in your reading for the week as well. | Collapse All | Show Options | sort by: response | author | date | read...
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...UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ፤ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended September 30, 2014. អ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from to . or Commission file number 333-172973 1MAY200918354900 NBTY, Inc. (Exact name of registrant as specified in its charter) DELAWARE (State or other jurisdiction of incorporation or organization) 11-2228617 (I.R.S. Employer Identification No.) 2100 Smithtown Avenue Ronkonkoma, New York (Address of principal executive offices) 11779 (Zip Code) (631) 567-9500 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: None Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes អ No ፤ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ፤ No អ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)...
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...Hindus in South Asia and the Diaspora: A Survey of Human Rights 2011 www.HAFsite.org March 12, 2012 “All human beings are born free and equal in dignity and rights.” “One should never do that to another which one regards as injurious to one’s own self. This, in brief, is the rule of dharma. Yielding to desire and acting differently, one becomes guilty of adharma.” “Thus, trampling on every privilege and everything in us that works for privilege, let us work for that knowledge which will bring the feeling of sameness towards all mankind.” Swami Vivekananda, “The Complete works of Swam Vivekananda,” Vol 1, p. 429 Mahabharata XII: 113, 8 Universal Declaration of Human Rights, 1948, Article 1 "All men are brothers; no one is big, no one is small. All are equal." Rig Veda, 5:60:5 ...
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...and technical specialists, analysts, and certified professionals. In the United States and around the world, Verisk Analytics helps customers protect people, property, and financial assets. For more information, visit www.verisk.com. Financial Highlights Revenues $ Millions 1,500 GR CA .5 = 14 % Adjusted EBITDA $ Millions 700 600 500 1,200 GR CA 5. 3 =1 % 900 400 300 200 600 300 100 0 2008 2009 2010 2011 2012 0 2008 2009 2010 2011 2012 2012 Sources of Revenues 2012 Revenues by Operating Segment Decision Analytics: 62% Property/Casualty Insurance: 32% Subscriptions and Long-Term Contracts: 67% Transactional: 33% Financial Services: 10% Risk Assessment: 38% Healthcare: 14% Specialized Markets: 6% At Verisk Analytics, we strive to give our customers what we call the n+1 data set. If our customer, our competitor, or our own current data set has a certain number of elements — n — we work to...
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...RESEARCH PAPER 06/36 19 JUNE 2006 A Political and Economic Introduction to China “If the 20th century ended in 1989, the 21st began in 1978” Martin Jacques, The Guardian, 25 May 2006 China’s political and economic rise and what it means for the world is now a central preoccupation of analysts and policy-makers. Public awareness of China is likely to increase as the 2008 Olympics in Beijing draw near. This Research Paper is intended to act as a resource that Members of Parliament and their staff can draw upon when engaging with China’s remarkable transformation. Part I provides key facts and figures about China. Parts II and III review recent developments and future prospects by addressing four key questions. Is political authoritarianism sustainable? Can China’s development be peaceful? What are the main domestic economic challenges facing China? What is China’s impact on the world economy? Part IV summarises key aspects of UK and EU relations with China. The Paper ends with a select bibliography of key sources. The Research Paper is intended to act as a platform for a series of Library Standard Notes that will address in more depth specific issues about China that there is space here only to discuss briefly. Jon Lunn, Maria Lalic, Ben Smith and Claire Taylor INTERNATIONAL AFFAIRS AND DEFENCE SECTION Ed Beale, Ed Potton, Ian Townsend and Dominic Webb ECONOMIC POLICY AND STATISTICS SECTION HOUSE OF COMMONS LIBRARY Recent Library Research Papers include: List of 15...
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...Changing the game. Annual Report to Stockholders 2012 Dear Stockholder, Welcome to TMUS. You are an owner of America’s Un-carrier — the combined entity of MetroPCS and T-Mobile USA. As the industry’s premier challenger and value player, we are revolutionizing the wireless industry. TM T-Mobile 2012 Annual Report 3 Building the Foundation In 2012, MetroPCS and T-Mobile built the foundations to become the Un-carrierTM in 2013. Each company made good progress across what are now the combined company’s five strategic priorities — the building blocks that enable us to bring consumers exciting new choices while delivering an exceptional experience. Here are notable 2012 highlights: Amazing 4G Services Increased Spectrum – T-Mobile increased its spectrum holdings in the top 100 metropolitan areas by nearly 20%. This includes spectrum secured as part of the AT&T deal breakup, as well as spectrum obtained through commercial deals with Verizon and Leap. Enhanced Network Experience – T-Mobile launched a three-year $4 billion network modernization investment program, ending 2012 with approximately 9,400 modernized sites; MetroPCS ended the year with 2.2 million customers and 26% of its base on LTE. Value Leader Launched Unlimited 4G Data – MetroPCS launched 4G LTE for All TM and T-Mobile introduced Unlimited Nationwide 4G Data. Secured the iPhone® – In December, T-Mobile announced that the iPhone would be available to T-Mobile customers in 2013. Accelerated Prepaid Growth...
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... Fiscal 2011 was a year of great accomplishment for The Walt Disney Company, marked by creativity and innovation across our businesses globally, record financial results and numerous important steps to position the Company for the future. While 2011 brought us so much to cheer about, it was also marked by profound loss, with the passing of Steve Jobs. Steve’s incredible stewardship of Pixar, and his decision to sell Pixar to Disney in 2006, brought Steve into the Disney family, as a board member, a shareholder, a mentor, and a friend, and we were so lucky for all that he represented and all that he contributed. Disney, ESPN, ABC, Pixar, and Marvel are an amazing collection of brands that grow stronger every day as new platforms and new markets provide enormous new opportunities for high quality content and experiences. To that end, we are fortunate to have a talented group of employees who are committed day in and day out to building our brands around the world. Since becoming President and CEO in 2005, I have focused on three strategic priorities: creating high-quality family content, making experiences more memorable and accessible through innovative technology, and growing internationally. In fiscal 2011, net income attributable to Disney was a record $4.8 billion, an increase of 21% over last year, and revenue was a record $40.9 billion, up 7% from last year. Diluted earnings per share increased by 24% to a record $2.52. I’m particularly gratified by our outstanding performance...
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...Foundations of Financial Management Fourteenth Edition Brealey, Myers, and Allen Principles of Corporate Finance Tenth Edition Brealey, Myers, and Allen Principles of Corporate Finance, Concise Second Edition Brealey, Myers, and Marcus Fundamentals of Corporate Finance Sixth Edition Brooks FinGame Online 5.0 Bruner Case Studies in Finance: Managing for Corporate Value Creation Sixth Edition Chew The New Corporate Finance: Where Theory Meets Practice Third Edition Cornett, Adair, and Nofsinger Finance: Applications and Theory First Edition Cornett, Adair, and Nofsinger Finance: M Book First Edition DeMello Cases in Finance Second Edition Grinblatt (editor) Stephen A. Ross, Mentor: Influence through Generations Grinblatt and Titman Financial Markets and Corporate Strategy Second Edition Higgins Analysis for Financial Management Ninth Edition Kellison Theory of Interest Third Edition Kester, Ruback, and Tufano Case Problems in Finance Twelfth Edition Ross, Westerfield, and Jaffe Corporate Finance Ninth Edition Ross, Westerfield, Jaffe, and Jordan Corporate Finance: Core Principles and Applications Third Edition Ross, Westerfield, and Jordan Essentials of Corporate Finance Seventh Edition Ross, Westerfield, and Jordan Fundamentals of Corporate Finance Ninth Edition Shefrin Behavioral Corporate Finance: Decisions that Create Value First Edition White Financial Analysis with an Electronic...
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...SECOND EDITION I/1ANAGEMEIVT AND POLICY James C.Van Horne \ STANFORD UNIVERSITY PRENTICE-HALL INC., ENGLEWOOD CLIFFS, NEW JERSEY F I NANCI AL M A N A G E M E N T A N D POLICY, 2nd EDITION James C. Van Horne © 1971, 1968 by PRENTICE-HALL, INC., ENGLEW O O D CLIFFS, N.J. All rights reserved. No part of this book m ay be reproduced in any form or by any m eans without permission in writing from the publishers. Library of Congress C atalo g C ard No.: 71-140760 Printed in the United States of America Current Printing (last digit): 1 0 9 8 7 6 5 4 3 2 13-315309-6 PRENTICE-HALL, INTERNATIONAL, LONDON PRENTICE-HALL OF AUSTRALIA PTY. LTD., SYD NEY PRENTICE-HALL O F CAN AD A, LTD., TO RONTO PRENTICE-HALL OF INDIA PRIVATE LTD., NEW DELHI PRENTICE-HALL OF JAPAN, INC., TO KYO 1 To Mimi, D rew , Stuart, and Stephen Preface Though significant portions of Financial Management and Policy have been changed in this revision, its purpose remains: first, to develop an understanding of financial theory in an organized manner so that the reader may evaluate the firm’s investment, financing, and dividend deci sions in keeping with an objective of maximizing shareholder wealth; second, to become familiar with the application of analytical techniques to a number o f areas o f financial decision-making; and third, to expose the reader to the institutional material necessary to give him a feel for the environment in which financial...
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...Ltd., Publication This edition first published in 2011 Copyright 2011 Pierre Vernimmen Registered office John Wiley & Sons Ltd, The Atrium, Southern Gate, Chichester, West Sussex, PO19 8SQ, United Kingdom For details of our global editorial offices, for customer services and for information about how to apply for permission to reuse the copyright material in this book please see our website at www.wiley.com The rights of Pierre Vernimmen, Pascal Quiry, Antonio Salvi, Maurizio Dallocchio and Yann LeFur to be identified as the authors of this work have been asserted in accordance with the Copyright, Designs and Patents Act 1988. All rights reserved. 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 or otherwise, except as permitted by the UK Copyright, Designs and Patents Act 1988, without the prior permission of the publisher. Wiley publishes in a variety of print and electronic formats and by print-on-demand. Some material included with standard print versions of this book may not be included in e-books or in print-on-demand. If this book refers to media such as a CD or DVD that is not included in the version you purchased, you may download this material at http://booksupport.wiley.com. For more information about Wiley products, visit www.wiley.com. Designations used by companies to distinguish their products are often...
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...An Introduction to the UN System: Orientation for Serving on a UN Field Mission (Intro to the UN 070329) A Course Produced by The United Nations Institute for Training and Research, Programme of Correspondence Instruction (Revised 2003) Course Author Lt.Col. (Retd.) Christian Hårleman Senior Special Fellow, UNITAR Series Editor Harvey J. Langholtz Copyright 2003, UNITAR POCI UNITAR Training Programme of Correspondence Instruction in Peacekeeping Operations Dag Hammarskjöld Centre Box 20475 New York, NY 10017 Programme UNITAR de Formation Par Correspondance Aux Opérations de Maintien de la Paix Palais des Nations 1211 Geneve 10 Suisse An Introduction to the UN System: Orientation for Serving on a UN Field Mission (Intro to the UN 070329) A Course Produced by The United Nations Institute for Training and Research, Programme of Correspondence Instruction (Revised 2003) Course Author Lt.Col. (Retd.) Christian Hårleman Senior Special Fellow, UNITAR Series Editor Harvey J. Langholtz Copyright 2003, UNITAR POCI Address all correspondence to: UNITAR Training Programme of Correspondence Instruction in Peacekeeping Operations Dag Hammarskjöld Centre Box 20475 New York, NY 10017-0009 USA An Introduction to the UN System: Orientation for Serving on a UN Field Mission TABLE OF CONTENTS Table of Contents................................................................................. i Foreword.....................................................
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