...Business Analysis & Valuation Project The objective of this project is to apply financial statement analysis techniques in a typical (equity) investment decision-making context. You should assume that you are required to make an investment recommendation to a fund manager. The fund manger wishes to add a stock to a diversified portfolio. The investment manager has a strategy of maximizing investor returns over the long term. Consistent with the course objectives, the project is an essential part of the course and aimed at developing your understanding of, and practical skills in financial statement analysis and valuation. It is also designed to enhance teamwork, and analytical and communication skills. To maximize the benefits of the project, you are required to progressively complete the project as the techniques are examined in the course. The project comprises two components: (1) an industry and company analysis, (2) a detailed project report, and Getting Started (Weeks 1-2) By the end of Week 2 you are required to: (1) Form groups of ideally 4 or 5 members. For part-time students who have difficulties in finding common free time for group meetings, groups of 2 or 3 are acceptable. (2) Select a company that is listed on the Australian Securities Exchange (ASX). Your companies must have at least three years of annual reports available – it is your responsibility to pick a company with the required information available); (3) Enroll your group members online through Blackboard...
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...negative factors as a way to explain a low profit period. If analysts believe in the explanation and deems it as plausible and truthful, they predict higher future earnings and stock valuations than if the managers had not provided an explanation. Similarly, if analysts found the disclosure to be implausible and discredited, they would forecast lower earnings and valuations for the company. Although analysts have been offering predictions on company futures for several decades, there’s been a recent increase in the legitimacy. Financial statements and earnings announcements are public and easily located on the sec.gov/ website, but it seems that users would rather trust an analyst with experience than the financial statements themselves. With the increase in popularity - most likely due to the ease of accessibility - shareholders and potential investors have also grown more dependent and reliant on the analysts and their analysis. Conflict of Interests With the majority of financial analysts working in banks, pension funds, and other businesses, they are able to have a thorough understanding of what the 10-K can disclose. Many times, their analysis of a company are so accredited and deemed “trustworthy” that it is published in major news outlets such as The New York Times, CNN, and Yahoo. The SEC recognizes the potential conflict that can arise from the influence of analysts and have received prior complaints about the validity and ethicality of some recommendations. Therefore...
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...Brochure More information from http://www.researchandmarkets.com/reports/614719/ Modular & Portable Buildings UK Description: This market research report analyses the UK market for modular and portable buildings for a five year review period and a five year forecast period up until 2012. The report includes permanent modular, portable units and semi-permanent portable buildings. Semi permanent portable buildings and portable units have been further segmented by type of frame material, by type of wall material, by type of client and by end-user sector and permanent modular buildings have been further segmented by type of frame material, by type of wall material and by end user sector. This report identifies factors that affect demand as well as analysing distribution and the industry structure within the UK which includes 28 company profiles. With this report, you will find essential data to help you plan your business strategy and budgeting. The quantitative and qualitative analysis in this report includes: UK market for modular and portable buildings, in value, 2003 2012 UK market for modular and portable buildings, by type of building, in value, 2003 2012: - permanent modular - portable units - semi-permanent portable UK market for modular and portable buildings, by end-user sector, in value, 2007: - education - healthcare - construction - offices - hotels - retail - leisure & events - commercial & industrial - prison - military - housing UK market for semi permanent portable...
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...First Name Surname Instructor Course Date Review of Gator’s Discounted Cash Flow Analysis As companies venture into cash flow testing in the financial company auditing, many of the strategies in the company credit refinement is stated in relatively simple terms. The sensitivity to the company cash flow calls to the experts views on the company performance, the assets and the key problems faced in the financial report (Bauer, 122). The cash flow analysis calls for investigation and within Gator’s discounted cash flow analysis, there are numerous assumptions that need consideration in the valuation of which audit procedure adopted. In the Goodwill Impairment Analysis Summary, the key assumptions looked at concerned the financial flow of the cash handled in the company. These were the discount rate, depreciation rate, incremental working capital, long-term growth rate, corporate income tax rate. The analysis considered the discount rate to be low, and as identified by thirteen percent, the cash flow chart assumed effects on the financial return. The impact of the discount rate assumption depended on the quality of the outcome of the audit result. The charges put on the discount audited for the Gator company performance. The use of the default charges enables the auditor to leave out the use of all the assets value in the total cash flow chart. The starting asset rate examined to assist in evaluating the risks likely to rise in the company performance...
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...Brochure More information from http://www.researchandmarkets.com/reports/466097/ UK Supermarket Analysis (2007-2010) Description: This report on “UK Supermarket Analysis (2007-2010)" gives an opportunity to the readers to navigate through the supermarket landscape in UK. Throwing light on all aspects of the supermarket industry in UK, this report provides the readers with detailed analysis of factors that are propelling the industry, plus the opportunities and challenges in the market. The report includes PEST Analysis of the industry. This report also helps the investors to identify the different consumer classes served by different supermarkets in UK. Key Findings - Online retail will emerge as an important mode of selling. - Each Supermarket in UK has its own consumer class. - Top four Supermarkets hold major market share (almost 75%) in UK. - Increasing buying power of retailer remains the major driver for the industry. Key Issues and Facts Analysed The research report also addresses the issues and facts that are critical to the success of UK retail industry in particular. - Overview of current market trends. - Profile discussion (their respective consumer class, and store formats, etc) of key players in this sector. - Analysis of various challenges and opportunities existing in the industry. - What is the market size and scope of retail in UK? - What and where are the growth prospects and issues related to the industry? - What are the factors driving growth in this sector...
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...Business Analysis and Valuation Report Prepared By: Version # Updated on ------------------------------------------------- Acknowledgments ------------------------------------------------- If applicable, include acknowledgement to contributing individuals: ------------------------------------------------- ------------------------------------------------- Analyst’s Name | Number | E-Mail Address | | | | Document Name | | Date Created | | Milestone 1 date submitted | | Milestone 2 date submitted | | Milestone 3 date submitted | | Finalization date | | | | | | | | REPORT VERSION RECORD The Business Analysis and Valuation Report is a managed document with tracking of versions, changes, and release dates for each of the three milestones. Version Name | Version Number | Date | Author(s) Name(s) | Change Description | | | | | Document created | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Milestone versions of the report are issued including the complete document with the sections completed to date to reflect the work to date by the analyst team. The milestone versions of the document are authorized for release only after the analyst’s signature has been obtained. Milestone 1 PREPARED: DATE:___/___/___ (for acceptance) (, signature) POSITION: ___ Milestone 2 PREPARED: DATE:___/___/___ ...
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...GUIDELINES FOR PREPARING PROJECTED FINANCIAL STATEMENTS Before entering into the nitty-gritty of the precautions to be taken by the professionals, first of all, I would like to throw some lights on the definitions of the basics of the Projected Financial Statements: WHAT IS FINANCIAL FORECASTS AND PROJECTIONS? Financial forecasts and projections are two types of prospective financial statements that attempt to reflect a company’s expected financial position and expected results of operations. FINANCIAL FORECAST A financial forecast reflects, to the best of the company’s knowledge, the expected financial results of a future period. It is based on expected conditions and expected courses of action. It is to be noted that in almost all situations, the party responsible for the prospective financial statements is the management of the company. FINANCIAL PROJECTIONS A financial projection is different than a forecast in that it is based on hypothetical assumptions. A projection reflects the financial position and results of operations based on a “What if” type of scenario. It is to be noted that only a financial forecast is appropriate for general use. Now, I would like to touch upon those areas, which needs to be taken care of and needs some fine-tuning before accepting any assignment of preparing/compiling of projected financial statements. PRECAUTIONS TO BE TAKEN BY THE PROFESSIONALS BEFORE COMPILING PROJECTED FINANCIAL STATEMENTS 1. Make sure that the...
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...company accounting activities and procedures conform to generally accepted accounting principles • Ensure that all financial transactions are handled and processed in-line with the approved policies and procedures. • Oversee the daily operations of the finance department • Prepare the monthly financial reports with all needed financial and costing analysis comparing with Budget and KPIs. • Manage the preparation of the official annual report of actual revenues, transfers, and expenses. • Manage the preparation of financial outlooks and financial forecasts in coordination with the CFO. • Ensure that the company are continuously keeping sufficient fund to fulfill its financial obligation by preparing monthly cash flow forecast. Monitor the actual cash flow against forecast and take the necessary measure to remedy variances. • Direct and coordinate debt financing and debt service payments with external agencies and monitor terms, conditions and covenants and ensure compliance with the same. • Prepare financial analysis for contract negotiations and product investment decisions. • Ensure compliance with local, state, and federal budgetary reporting requirements. • Lead and coordinate with all other department the preparation of annual operating budget and developing 3-10 years business plans for the company. • Recommend benchmarks for measuring the financial and operating performance of divisions and departments. • Establish and implement short- and long-range departmental...
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...prospective analysis method and the market valuation model to discuss the firm value. For financial market and the firm value analysis, valuation is the estimate process to the business and stock values. Considering the normal financial statement and accounting strategies of the assignment firm, the valuation is necessary to support the shareholders and investors in their buy and sell decisions. 2. Prospective Analysis From the financial report of the firm, we could make a respective method to analysis the firm value to the shareholder and the investors. Based on the historical accounting data, we can forecast some main quotas of the firm value as following charts. The forecast of the major incomes and ratio could be described in the 2-1-1 forecast analysis chart. 2-1 Forecast Analysis We can adopt the residual income valuation model to easily reflect the stock price and prospective firm earning as the following equation: St=BSt+(NIt+1-(k*BSt))/(1+k)+ (NIt+2-(k*BSt+1))/(1+k)2+…. Whereas variable St is the book value of this firm in period time t, variable NIt+n is the firm net income value in the period time t+n, the cost of capital variable factor is k, and the residual in the time t refers to the difference of the comprehensive net income and the beginning book value, which could be described as RIt =NIt -(k*BSt-1). The detailed residual income model could be described in chart 2-2. 2-1-2 residual income valuation model Sensitive analysis which means the analysis model...
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...Globalisation of the food retail industry – forecasts to 2013 2008 edition Page i Globalisation of the food retail industry – forecasts to 2013 2008 edition By Helen Lewis June 2008 Published by Aroq Limited Seneca House Buntsford Park Road Bromsgrove Worcestershire B60 3DX United Kingdom Tel: Fax: Web: +44 (0)1527 573 600 +44 (0)1527 577 423 www.just-food.com Registered in England no: 4307068 © 2008 All content copyright Aroq Ltd. All rights reserved. Page ii Single-user licence edition This report is provided for individual use only. If you would like to share this report with your colleagues, please order additional copies or sign up for a multi-user licence by contacting: Kathryn Wedgbury Research manager, just-food.com Tel: +44 (0)1527 573 604 Email: kathryn.wedgbury@just-food.com Copyright statement © 2008 All content copyright Aroq Limited. All rights reserved. This publication, or any part of it, may not be copied, reproduced, stored in a retrieval system, or be transmitted in any form by any means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Aroq Limited. This report is the product of extensive research work. It is protected by copyright under the Copyright, Designs and Patents Act 1988. The authors of Aroq Limited’s research reports are drawn from a wide range of professional and academic disciplines. The facts within this report are believed to be correct at the time of publication...
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...Budget Management Analysis John Thorpe HCS/571 April 13, 2014 Professor: Amy Reed Budget Management and Variance Analysis Healthcare organizations are faced with severe financial pressures resulting in extreme budget cuts. Consequently, nurse managers and financial managers are tasked with the responsibility of doing more with less while maintaining the high quality of care offered to its consumers. To accomplish the aforementioned tasks, managers use budgetary tools to help them focus on controlling cost while running an efficient operation. Budgeting gives managers the tools necessary to ensure the availability of required resources to meet the organization’s goals and objectives, communicate strategies and monitor results (Cleverly, Song & Cleverly, 2007). Finkler, Kovner & Jones (2007) offer that budgeting should be used to make the organization become more effective and efficient. It is not a tool for maintaining the status quo. Organizations use different approaches to introducing the budgetary process. Some organizations take the current year's budget update it for inflation and projected revenue growth. Others take a clean slate approach; compel managers to justify their expenses and staffing needs on an annual basis. Still other organizations forecast revenue and profit and assign expense rates to departments. However, the most effective budget is one that reflects the true financial position of the organization, provides flexibility and monitored...
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...C. Market Analysis 3 C1: Target Market 3 C2: Industry Analysis 3 C3: SWOT Analysis 3 C4: Competitive Analysis 3 D. Market Strategy 3 D1: 4Ps. 3 D2: Price List 3 D3: Promotional Strategy 3 D4: Sales Forecast 3 E. Implementation Strategy 3 E1. Overall Strategy 3 E2. Monitoring Plan 3 F. Financial Statements and Projections 3 F1. Forecasted Profit and Loss Statement 3 F2. Forecasted Balance Sheet 3 G. Financial Report 3 G1. Financial Projections 3 G2. Financial Position 3 G3. Estimated Capital/Investment Needs 3 References 3 A. Executive Summary COMPANY IDENTIFICATION Suggested length of 1–2 pages A1. Company Identification: Identify the company’s name and location. A2. Mission of the Company: Describe the mission of the company. A3. Business Goals: Discuss two business goals in support of the company’s mission. A4. Keys to Success: Discuss three keys to success for the company. B. Company Summary Suggested length of 4–6 pages B1. Industry History: Describe the history of the industry in which the company will operate. B2. Legal Form of Ownership: Identify the legal form that the company will take. B3. Location and Facilities: Describe the location and type of facilities needed for the company. B4. Management Structure: Describe the management structure, including key positions and specific responsibilities. B5. Products and Services: Describe the products and services offered by the company. C. Market Analysis Suggested...
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...TECHNOLOGY Business Analysis and Valuation Report Prepared By: Kai.Zhang(42690157) Version # 1.4 Updated on 25/10/2011 10 PM ------------------------------------------------- Acknowledgments ------------------------------------------------- If applicable, include acknowledgement to contributing individuals: ------------------------------------------------- ------------------------------------------------- Analyst’s Name | Number | E-Mail Address | KAI ZHANG | 42690157 | Kai.zhang3@uqconnect.edu.au | Document Name | | Date Created | 10/8/2011 | Milestone 1 date submitted | 8/9/2011 | Milestone 2 date submitted | 3/10/2011 | Milestone 3 date submitted | 25/10/2011 | Finalization date | 25/10/2011 | | | | | | | REPORT VERSION RECORD The Business Analysis and Valuation Report is a managed document with tracking of versions, changes, and release dates for each of the three milestones. Version Name | Version Number | Date | Author(s) Name(s) | Change Description | MS1 | 1.0 | 8/9/2011 | KAI ZHANG | Document created | MS2 | 1.1 | 3/10/2011 | KAI ZHANG | Milestone 1 fix | MS3 | 1.2 | 15/10/2011 | KAI ZHANG | Milestone 2 fix | final | 1.3 | 25/10/2011 | KAI ZHANG | Project Completed | | | | | | | | | | | | | | | | | | | | | | | | | | Milestone versions of the report are issued including the...
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...The Global Submarine Market 2015-2025 report provides readers with a detailed analysis of both historic and forecast global industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies, and key news. Key Findings – The global Submarine market is expected to be worth US$22.9 billion in 2015, and is expected increase to US$36.6 billion by 2025, representing a CAGR of 4.78% during the forecast period. – The market is anticipated to be dominated by North America, followed by Asia- Pacific and Europe. The US is the largest spender, with a cumulative expenditure of US$112.2 billion over the next decade. – In terms of segments, SSN is expected to account for 39% of the global submarine market, followed by SSKs and SSBNs, occupying shares of 36% and 25% respectively. Synopsis This report offers detailed analysis of the global submarine market with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for the global submarine market, key market trends, and challenges faced by industry participants. In particular, it provides an in-depth analysis of the following: – Global submarine market size and drivers: detailed analysis of the global submarine market during 2015-2025, including highlights of the demand drivers and growth stimulators for submarines. It also provides a snapshot of the spending and modernization patterns of different regions around...
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...opportunities to reap commercial reward if they are strategically placed to take advantage of these possibilities" 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 0 Business Insights Business Insights is a series of management reports designed to help you make informed, timely business decisions. We understand the problems facing today's managers in taking your business into the next millennium, and appreciate the importance of the role of accurate, up-to-date, incisive market and company analysis. We help you to crystallise your business decision making. Business Insights’ reports are authored by independent experts in their fields and offer results from our unique primary research methodology. Our authors' leading positions allow them to interview key industry executives and to quantify which issues will be of greatest strategic significance in an industry's future. The results of our analysis and recommendations will help you to evaluate the impact of these issues on your business, and plan to position yourselves to take the greatest advantage of opportunities which will arise in tomorrows commercial environment. The strength of our Healthcare research and analysis function is derived from its access to unparalleled databases and libraries of information, its proprietary analytic techniques and its people. Staff are drawn from a very wide set of disciplines including strategic consultancy, medicine, pharmaceutical industry,...
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