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This document discusses measuring business performance using assets employed. It provides examples of a company's balance sheet showing current assets, fixed assets, and equity/liabilities. An income statement is presented showing revenue, expenses, depreciation, income before taxes, capital charge, and economic value added. Key terms are defined including capital charge, economic value added, and return on investment, which is a measure of profit compared to assets employed.
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Measuring And Controlling Assets employed
This document discusses methods for measuring and controlling assets employed in business units. It describes two main methods - return on investment (ROI) and economic value added (EVA). ROI is a ratio that compares income to assets employed, while EVA is a dollar amount that subtracts a capital charge from net operating profit. The document explores how different types of assets like cash, receivables, inventories, property/equipment should be treated in the calculation. It also addresses topics like how to treat leased assets, idle assets, intangible assets, and noncurrent liabilities. The goal of accurately measuring assets employed is to motivate managers and provide useful information for decision making.
Chap 7
This document discusses investment centers and methods for measuring assets employed and business unit performance. An investment center compares profit to the assets used to generate that profit. Measuring assets employed and return on investment (ROI) provides information for decision making and motivates managers. ROI is profit divided by assets employed. Economic value added (EVA) measures wealth creation by subtracting a capital charge from net operating profit after taxes. EVA attempts to capture true economic profit by considering the cost of capital.
Eva vs roi 14j
EVA (Economic Value Added) is a measure of a company's financial performance based on residual wealth calculated by deducting its cost of capital from operating profit. EVA attempts to capture true economic profit by including the cost of equity capital in the calculation. ROI (Return on Investment) compares income generated to assets employed, but does not consider cost of capital. While ROI is easier to calculate, EVA is considered a superior measure as it aligns managerial decisions with shareholder value maximization.
Eva
Economic Value Added (EVA) is a metric developed by Stern Stewart & Co. in 1982 to evaluate business strategies and maximize long-term shareholder wealth. EVA is defined as net operating profit after taxes (NOPAT) minus the cost of capital. To calculate EVA, a company determines its NOPAT, weighted average cost of capital (WACC), and capital employed to see if it is generating returns above its cost of capital and creating economic value. EVA aims to align managerial decisions with shareholder interests.
Sa aug10 eva_pt2
1. Economic value added (EVA) is an alternative performance measure to traditional profit-based measures like return on capital employed. EVA assesses whether a company is generating returns above the required rate of return for providers of capital.
2. When using EVA to evaluate performance, one should consider if the value is positive, increasing over time, and investigate reasons for changes in value. EVA can also be used to evaluate performance of company directors and division managers.
3. EVA is consistent with net present value calculations and motivates managers to maximize shareholder wealth by investing in projects with returns exceeding costs of capital. However, EVA also has disadvantages like complex adjustments and difficulty estimating weighted average cost of
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This document contains an assignment response that discusses and provides examples of Economic Value Added (EVA) analysis and different types of expense centers. For EVA analysis, it explains how EVA is calculated by determining net operating profit after taxes and subtracting the cost of capital. It provides an example calculation. The response also outlines advantages and disadvantages of EVA analysis. Regarding expense centers, it distinguishes between engineered and discretionary expense centers. Engineered centers have outputs that can be estimated, while discretionary centers rely more on management judgment. It provides a diagram to illustrate the relationship between inputs and outputs for an engineered center.
EVA - Economic Value Added
EVA is a measure of economic profit calculated as net operating profit after tax minus the cost of financing the firm's capital. To derive NOPAT, sales minus variable costs equals contribution, minus fixed costs equals EBITDA, minus depreciation/amortization and tax equals NOPAT. EVA is used to measure a firm's economic value created over the required return of investors, and is determined to pay incentives and bonuses. Key benefits of EVA include measuring value creation, managing decisions to link to value creation, and motivating managers with incentive plans tied to shareholder value. Adjustments help translate financial statements to an economic framework for EVA calculation.
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EVA (Economic Value Added) is a measure of a company's financial performance based on residual wealth calculated by deducting its cost of capital from operating profit. EVA attempts to capture true economic profit by including the cost of equity capital in the calculation. ROI (Return on Investment) compares income generated to assets employed, but does not consider cost of capital. While ROI is easier to calculate, EVA is considered a superior measure as it aligns managerial decisions with shareholder value maximization.
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1. Economic value added (EVA) is an alternative performance measure to traditional profit-based measures like return on capital employed. EVA assesses whether a company is generating returns above the required rate of return for providers of capital.
2. When using EVA to evaluate performance, one should consider if the value is positive, increasing over time, and investigate reasons for changes in value. EVA can also be used to evaluate performance of company directors and division managers.
3. EVA is consistent with net present value calculations and motivates managers to maximize shareholder wealth by investing in projects with returns exceeding costs of capital. However, EVA also has disadvantages like complex adjustments and difficulty estimating weighted average cost of
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This document contains an assignment response that discusses and provides examples of Economic Value Added (EVA) analysis and different types of expense centers. For EVA analysis, it explains how EVA is calculated by determining net operating profit after taxes and subtracting the cost of capital. It provides an example calculation. The response also outlines advantages and disadvantages of EVA analysis. Regarding expense centers, it distinguishes between engineered and discretionary expense centers. Engineered centers have outputs that can be estimated, while discretionary centers rely more on management judgment. It provides a diagram to illustrate the relationship between inputs and outputs for an engineered center.
EVA - Economic Value Added
EVA is a measure of economic profit calculated as net operating profit after tax minus the cost of financing the firm's capital. To derive NOPAT, sales minus variable costs equals contribution, minus fixed costs equals EBITDA, minus depreciation/amortization and tax equals NOPAT. EVA is used to measure a firm's economic value created over the required return of investors, and is determined to pay incentives and bonuses. Key benefits of EVA include measuring value creation, managing decisions to link to value creation, and motivating managers with incentive plans tied to shareholder value. Adjustments help translate financial statements to an economic framework for EVA calculation.
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- Companies must estimate fixed and working capital needs. The cost and earnings theories of capitalization are used to determine how much funding is required.
- Under or over capitalization can be identified by comparing a company's book value per share to its real value, calculated using earnings and industry capitalization rate.
- If book value is greater than real value, the company is over capitalized. If book value is less than real value, the company is under capitalized. Book value equal to real value means proper capitalization
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A group of ratios that shows how efficiently the company is managing its assets to generate and maximize sales revenues is known as Asset Management Ratios.
To know more about it, click on the link given below:
https://efinancemanagement.com/financial-management/asset-management-ratios-types-interpretations-advantages-disadvantages-and-more
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1) The study examines the relationship between Economic Value Added (EVA) and share price for 10 companies listed on the BSE SENSEX index over an 8-year period from 2005 to 2012.
2) Regression analysis found that EVA had a negative or insignificant impact on share price, while earnings per share had the strongest influence.
3) It was concluded that EVA does not significantly influence share price for these companies, and that earnings per share is a more important determinant of share price movements.
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Economic Value Added (EVA) is a tool to measure a company's true financial performance beyond traditional accounting measures like net income. It measures profit generated above the firm's cost of capital. EVA is calculated as Net Operating Profit After Tax (NOPAT) minus a charge for invested capital at the weighted average cost of capital (WACC). EVA helps identify value-creating investments and strategies to maximize returns above the cost of capital employed. While more accurate than other measures, EVA has limitations as calculations are based on historical data and it cannot compare performance across companies.
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EVA is a measure of economic profit that is calculated as net operating profit after tax minus the opportunity cost of invested capital. The opportunity cost is determined by the weighted average cost of capital and the amount of capital employed. EVA measures all costs of running a business, including operating and financing costs. Companies aim to increase EVA by improving net operating profit, reducing costs of capital, and investing in projects with returns exceeding costs of capital while divesting from projects with lower returns. Stern Stewart & Co developed EVA and related metrics like MVA and FGV to evaluate company performance and value.
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The document discusses financial planning and capitalization. It covers estimating capital requirements, theories of capitalization, and determining if a company is under or over capitalized. The key points are:
- Companies must estimate fixed and working capital needs. The cost and earnings theories of capitalization are used to determine how much funding is required.
- Under or over capitalization can be identified by comparing a company's book value per share to its real value, calculated using earnings and industry capitalization rate.
- If book value is greater than real value, the company is over capitalized. If book value is less than real value, the company is under capitalized. Book value equal to real value means proper capitalization
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A group of ratios that shows how efficiently the company is managing its assets to generate and maximize sales revenues is known as Asset Management Ratios.
To know more about it, click on the link given below:
https://efinancemanagement.com/financial-management/asset-management-ratios-types-interpretations-advantages-disadvantages-and-more
Economic value added
This document provides an overview of Economic Value Added (EVA). EVA measures the incremental difference in a company's rate of return over its cost of capital, showing whether operating profit is enough to cover total capital costs. A positive EVA means the company is generating value from invested funds, while a negative EVA shows funds are not being used effectively. EVA is calculated by taking net operating profit after taxes and subtracting the product of invested capital and the weighted average cost of capital. EVA can be used to assess company and management performance by quantifying the required return on invested capital and determining if projects exceed that minimum threshold.
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Emaar properties division
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Ezdan real estate co.
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1) The study examines the relationship between Economic Value Added (EVA) and share price for 10 companies listed on the BSE SENSEX index over an 8-year period from 2005 to 2012.
2) Regression analysis found that EVA had a negative or insignificant impact on share price, while earnings per share had the strongest influence.
3) It was concluded that EVA does not significantly influence share price for these companies, and that earnings per share is a more important determinant of share price movements.
Economic value added (eva)
Economic Value Added (EVA) is a tool to measure a company's true financial performance beyond traditional accounting measures like net income. It measures profit generated above the firm's cost of capital. EVA is calculated as Net Operating Profit After Tax (NOPAT) minus a charge for invested capital at the weighted average cost of capital (WACC). EVA helps identify value-creating investments and strategies to maximize returns above the cost of capital employed. While more accurate than other measures, EVA has limitations as calculations are based on historical data and it cannot compare performance across companies.
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This document discusses the value added statement, which is a modified version of the profit and loss account that reveals a company's operating performance. It summarizes how value added is calculated as the difference between the value of a firm's outputs and purchased inputs. The value added statement shows how the wealth created by a business over time is distributed among stakeholders like employees, capital providers, and the government. It has advantages like improving employee attitudes and linking a company's accounts to national income reporting. The document also describes subtractive and additive methods for calculating value added and applications like using it to determine employee profit-sharing amounts.
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Wealth maximization is the appropriate objective of a firm according to financial theory. When a firm maximizes shareholder wealth, individual shareholders can then use that wealth to maximize their own utility. A shareholder's current wealth equals the number of shares owned multiplied by the current stock price per share. Therefore, firms should aim to maximize their current stock price in order to increase shareholder wealth and value. However, stock price maximization should be pursued over the long run to reflect the normal market value, not just short-term fluctuations. Financial decisions should increase the current present value through cost-benefit analysis.
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Chapter 2
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Chapter 1
This document discusses corporate finance and the roles of the finance manager and corporate controller. It describes corporate finance as dealing with acquiring and allocating cash efficiently to maximize shareholder value. The finance function involves investment, financing, and dividend decisions. The finance manager oversees financial goals, planning, and asset/structure management. The controller ensures proper accounting, financial reporting, and adherence to standards to support management decision-making. Both roles involve planning, analysis, and providing financial guidance.
Ppt spm
Dokumen tersebut membahas tentang sistem pengendalian manajemen dan strategi. Secara ringkas, dokumen tersebut membahas tentang: (1) pengertian sistem pengendalian manajemen dan strategi serta hubungannya, (2) unsur-unsur sistem pengendalian manajemen, dan (3) analisis industri dan rantai nilai untuk mengembangkan keunggulan kompetitif.
Budget preparation
The document outlines the budget preparation process for a local government over 8 steps from issuing guidelines in September to finalizing revisions in June. It also defines the two types of budgets as non-development and development. Non-development includes salaries and non-salaries estimates while development includes approved schemes. Various forms are mentioned for preparing, submitting, and monitoring the budget.
Macs integrated goutham girish raghu ranjini joel
The document discusses responsibility centers and their types, measurement of inputs/outputs, and budgeting and performance evaluation processes. It provides details on:
1) Definitions of responsibility centers and their hierarchy from lowest to highest levels in an organization.
2) Types of responsibility centers including revenue, expense, profit, and investment centers.
3) Key factors in measuring inputs, outputs, efficiency, effectiveness, and roles of profit for different center types.
4) Budget preparation approaches like incremental and zero-base budgeting.
5) Performance measurement and financial control differences between engineered and discretionary expense centers.
Chapter#5
Dokumen tersebut membahas tentang pusat laba sebagai unit organisasi yang bertanggung jawab atas pendapatan dan biaya tertentu. Pusat laba dapat berupa divisi bisnis, unit fungsional, pemasaran, produksi, dan layanan tertentu yang diberi otonomi untuk menghasilkan laba melalui keputusan operasional. Ada berbagai pengukuran kinerja dan batasan yang diterapkan untuk memastikan pusat laba beroperasi secara efektif.
Spm perilaku dalam organisasi
Dokumen tersebut membahas tentang sistem pengendalian manajemen dan perilaku organisasi. Secara ringkas, dibahas definisi perilaku organisasi dan faktor-faktor yang mempengaruhinya, serta fungsi dari kontroler dalam mendesain dan mengoperasikan sistem pengendalian manajemen.
Anıl Sural - WACC Calculation
1) The CFO provided information on the firm's capital structure, bond yields, stock prices, tax rates, and growth expectations to estimate the WACC.
2) The costs of debt, preferred stock, and retained earnings were calculated using the bond yield, dividend yield, CAPM, and DCF approaches.
3) The WACC was estimated to be 7.58% using a 40% weight on debt at 3.6%, 10% weight on preferred stock at 7.4%, and 50% weight on retained earnings at 10.08%.
Chap 5
This document discusses profit centers and how to evaluate their performance. A profit center is a responsibility center whose manager controls both revenues and costs. To delegate decisions to managers, they must have relevant information and a way to measure effectiveness. Business units are often set up as profit centers. Functional units like marketing, manufacturing, and services can also be profit centers. Performance is measured using various profitability metrics like contribution margin, direct profit, and net income.
Budget preparation
The document describes the Philippine national budget preparation process. It begins with the Department of Budget and Management issuing a budget call to agencies in December, providing parameters and guidelines. Agencies are now tasked with partnering with civil society organizations in preparing their proposals. For the first time, the 2013 budget will use a "bottom-up" approach, engaging grassroots communities in 300-400 poor municipalities. The proposals then go through technical hearings and executive review before being consolidated into a proposed national budget that is presented to the President and Cabinet for approval and submission to Congress.
SISTEM PENGENDALIAN MANAJEMEN “ PERILAKU DALAM ORGANISASI “ BAB 3
Ringkasan dokumen tersebut adalah:
1) Dokumen tersebut membahas tentang sistem pengendalian manajemen dan perilaku dalam organisasi.
2) Faktor yang mempengaruhi keselarasan tujuan (goal congruence) antara lain budaya organisasi dan gaya kepemimpinan.
3) Kasus Indomie di Taiwan terkait dengan perbedaan spesifikasi bahan pengawet antara Indonesia dan Taiwan.
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SISTEM PENGENDALIAN MANAJEMEN “ PERILAKU DALAM ORGANISASI “ BAB 3
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Profitibility ratio By- Deepak Madan (M.com, B.ed)
This document discusses various profitability ratios that can be used to measure the profitability of a company. It defines ratios such as gross profit ratio, operating ratio, operating profit ratio, net profit ratio, and return on investment. For each ratio, it provides the meaning, formula, and significance. The ratios measure aspects of profitability like the relationship between profits and revenues, the extent of revenue absorbed by costs, and the overall profitability of a business relative to capital employed.
L04 modifying accounting data for managerial decision
This document discusses various accounting metrics used for managerial decision making, including:
1. Operating assets are assets necessary to run the business, divided into current and long-term assets. Non-operating assets are above operational needs.
2. Net operating working capital and operating long-term assets together make up total operating capital. Free cash flow is available for investors after investing in operating capital.
3. Metrics like net operating profit after tax, return on invested capital, market value added and economic value added are used to evaluate performance and value creation beyond traditional accounting measures.
Leverage analysis
1) Operating leverage refers to a firm's ability to use fixed operating costs to magnify the effects of changes in sales on earnings. It can be measured by contribution divided by operating profit.
2) Financial leverage refers to a firm's use of fixed-cost debt and preference shares to magnify returns to ordinary shareholders. It can be measured by operating profit divided by profit before tax and interest.
3) Combined leverage considers the effects of both operating and financial leverage and represents the total risk faced by a firm from changes in sales affecting earnings and shareholder returns.
Ratio analysis
Profitability Ratio
A profitability ratio is a measure of financial ratio defining the profit percent and return percent from the business using data from financial statements at a specific point of time
It assess business’s ability to generate gross profit, operating profit and net profit from the sales using data from profit& loss statement
It even takes into consideration various return generating ability of business in terms of return on assets, return on capital employed, return on equity, return on investment using data from balance sheet
Types of profitability ratio
Gross Profit Ratio, Net Profit Ratio, Operating Profit Ratio, Return on Assets, Return on Equity, Return on Investment, Return on Capital Employed
Gross Profit Ratio
Gross Profit Ratio(GPR) is a profitability ratio that shows the relationship between gross profit and the revenue from net sales
GPR = (퐆퐫퐨퐬퐬 퐏퐫퐨퐟퐢퐭)/(퐍퐞퐭 퐒퐚퐥퐞퐬)
Net Profit Ratio
The net profit ratio is equal to how much net profit is generated as a ratio of revenue earned through sales
Net Profit Ratio = (퐍퐞퐭 푷풓풐풇풊풕)/(퐍퐞퐭 푺풂풍풆풔)
Operating Profit Margin is a profitability ratio used to calculate the percentage of operating profit a company produces from its operations, prior to deduction of taxes and interest charges
Operating Profit Ratio
Operating Profit Ratio = (퐎퐩퐞퐫퐚퐭퐢퐧퐠 퐏퐫퐨퐟퐢퐭)/(퐍퐞퐭 퐒퐚퐥퐞퐬)
Return on assets (ROA) is a kind of profitability measure used to determine returns on assets relevant when compared across the companies or previous performance of the company
Return On Asset = (퐍퐞퐭 퐏퐫퐨퐟퐢퐭)/(퐀퐯퐠.퐓퐨퐭퐚퐥 퐀퐬퐬퐞퐭퐬)
Return on equity (ROE) is a measure of financial performance calculated by dividing net profit by average shareholders' equity
ROE = (퐍퐞퐭 퐏퐫퐨퐟퐢퐭)/(퐀퐯퐠.퐓퐨퐭퐚퐥 퐄퐪퐮퐢퐭퐲)
Return on capital employed is a profitability ratio used in valuation of company’s financial position depicting the return out of capital employed
ROCE = 퐄퐁퐈퐓/(퐂퐚퐩퐢퐭퐚퐥 퐄퐦퐩퐥퐨퐲퐞퐝)
Return on investment is a profitability measure used by businesses to identify the efficiency of business in generating return out of an investment
ROI = (퐍퐞퐭 퐏퐫퐨퐟퐢퐭)/(퐂퐨퐬퐭 퐨퐟 퐈퐧퐯퐞퐬퐭퐦퐞퐧퐭)
Ratio analysis refers to the analysis and interpretation of the data collected from the financial statements (i.e., Profit and Loss Statement, Balance Sheet and Fund/Cash Flow statement etc.)
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DevTech Finance
Cash Flow presentation
This document provides a summary of a presentation on cash flow analysis of Folex Company delivered by Group 3 members Avinab Kumar, Ayush Raj, Beauty Singh, Bhaswati Mondal, and Devanshu Shekhar. It includes Folex Company's income statement and balance sheet for 2013 and 2012, and analyzes the company's cash flows using the direct and indirect methods. Key points of cash flow analysis include a decrease in cash despite higher net profits due to increases in inventory, property and equipment, and decreases in accounts payable and income tax payable. The presentation also interprets the cash flow statement and evaluates the company's financial flexibility.
accountingbasics.ppt
This document provides an introduction to basic accounting concepts. It discusses key terms like assets, liabilities, capital/owners equity, revenues and expenses. It also explains the accounting process and accounting cycle, which involves analyzing transactions, recording them in journals, posting to ledger accounts, preparing financial statements and closing temporary accounts. The document aims to provide a foundational understanding of accounting fundamentals and how they are used in business and personal finance.
accountingbasics.ppt
The document provides an introduction to basic accounting concepts including:
1) Accounting is the universal language of business and finance. It tracks assets, liabilities, and owner's equity through journal entries, ledger accounts, and financial statements.
2) The key financial statements are the balance sheet and income statement. The balance sheet provides a snapshot of financial position on a given date, showing assets, liabilities, and owner's equity. The income statement shows revenues and expenses over a period of time.
3) Accounts are classified as assets, liabilities, owner's equity, revenues, or expenses. The accounting equation states that assets always equal liabilities plus owner's equity. Proper record keeping and financial analysis
Accounting
The document provides an overview of accounting concepts including:
- Accounting involves identifying, recording, and communicating economic events through activities like recording transactions, classifying data, and preparing reports.
- Generally Accepted Accounting Principles (GAAP) are the standard framework and guidelines followed for financial accounting.
- The Sarbanes-Oxley Act established requirements for public company management and accounting to ensure accurate financial reporting.
- The basic accounting equation shows that assets must equal liabilities plus owner's equity.
Company Of Good - Corporate Giving Benchmark report
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Casper Van Leeuwen - Why cash flow should be a focal point
This document discusses why cash flow should be the focal point of financial consolidation and reporting. It argues that traditional financial statements do not provide easy insights into value creation. The balance sheet mixes operating and non-operating items, and the income statement combines profits and non-profits. To analyze economic performance, the statements need to be reorganized. The document demonstrates reorganizing the balance sheet to the "capital employed" format, which separates operating, investing, and financing activities and clearly defines working capital and net debt. This integrated view of the financial statements through the lens of cash flow and capital employed better reveals how value is being created.
Profitability Ratio Analysis
This document provides definitions and formulas for calculating various profitability ratios, including:
- Gross profit margin, which measures a company's gross profit as a percentage of total sales. An example calculation shows a GPM of 35.56%.
- Operating profit margin, which measures operating income as a percentage of total sales. An example shows an OPM of 22.22%.
- Net profit margin, which measures net income as a percentage of total sales. An example shows an NPM of 18.22%.
- Several ratios are provided to measure returns, including return on assets, return on equity, and return on sales. Formulas and example calculations are given for each.
account basic
This document defines key finance and accounting terms such as fixed costs, variable costs, semi-fixed costs, total costs, average costs, marginal costs, total revenue, profit, break even point, and provides examples of a profit and loss account and balance sheet for British Airways. It explains that a profit and loss account shows the flow of sales and costs over a period and the level of profit or loss, while a balance sheet provides a snapshot of a company's assets, liabilities, and capital at a point in time.
Mmi finance 1
The document discusses key financial statements including the balance sheet, income statement, and cash flow statement.
The balance sheet provides a snapshot of a company's assets, liabilities, and equity at a point in time. It ensures assets equal liabilities plus equity. The income statement shows revenues, expenses, and profits over a period of time. The cash flow statement analyzes where cash came from and how it was used during a period. It breaks this down into operating, investing, and financing activities.
IAS 27 Consolidated Financial Statements
This document provides an overview of IAS 27 regarding consolidated financial statements. It discusses key topics such as the rationale for consolidated financial statements, acquisition accounting, accounting for subsidiaries, associated companies, and joint ventures. Group financial statements consolidate the financial statements of a parent company and its subsidiaries to present financial information about the group as a single economic entity. The accounting aims to eliminate intra-group transactions and balances.
Chap-1: Accounting in Action
We take references from The book of Accounting Principals which is written by (Weygandt Kimmel Kieso)
Market value added
Market value added (MVA) is the difference between a firm's current market value and the capital contributed by investors. If MVA is positive, the firm has added value; if negative, it has destroyed value. MVA is economically equivalent to net present value and represents the present value of all future expected economic value added. Economic value added (EVA) is a measure of a firm's economic profit, calculated as net operating profit after taxes minus a capital charge for the cost of capital employed. EVA indicates whether a firm has generated returns higher than the required rate of return. While EVA is a performance metric, MVA measures the level of value a firm has accumulated over time based on past performance.
Return on capital employed
Return on Capital Employed (ROCE) is a ratio that measures how efficiently a company generates profits from its capital. It is calculated by dividing earnings before interest and taxes by capital employed, which represents the total assets used to generate revenue. ROCE is useful for comparing the relative profitability and capital efficiency of companies, as it considers both profit margins and the amount of capital required to generate those profits. A higher ROCE indicates a company is making better use of its capital to squeeze more earnings out of each rupee invested, even if its profit percentage is lower than competitors. Generally, a ROCE of 20% or more is considered very good.
The Concept of a Balance Sheet
The document discusses key financial concepts like the balance sheet, income statement, and double entry accounting. It provides examples of a basic personal balance sheet showing assets and liabilities. It also includes examples of a company balance sheet, income statement, and cash flow statement, demonstrating how revenues, expenses, assets, and liabilities are reported. The final section shows a comparative balance sheet between two years for another company.
Return on Capital Employed (ROCE) and Return on Equity (ROE)
Return on Capital Employed (ROCE) and Return on Equity (ROE) or Return on Net Worth (RONW) are both used to measure the profitability of a company based on the funds with which the company conducts its business. Know about.
First financial management 23566432245556
This document discusses key concepts in financial management including business units, types of business organizations, assets, basic financial problems, the role of financial managers and markets, and goals of financial management. It also covers topics like productivity and profitability as scale increases, the effects of financial leverage based on cost of debt and debt-equity ratios, and how these factors can impact investment profitability.
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Chapter3
- 1. MEASURING AND CONTROLLING ASSETS EMPLOYED
- 2. -In some business units, the focus is on profit as measured by the difference between revenues and expenses. -In other business units, this profit is compared with the asset employed in earning it. Referred to as responsibility center or profit center.
- 3. BALANCE SHEET CURRENT ASSETS: CURRENT LIABILITIES7/5/2013 Cash 50 Accts. Payable 90 Receivables 150 Other current 110 Inventory 200 Total current liabilities 200 Total current assets 400 FIXED ASSETS: CORPORATE EQUITY 500 Cost 600 Depreciation -300 Book value 300 TOTAL ASSETS 700 TOTAL LIABILITIES & EQUITY 700
- 4. INCOME STATEMENT Revenue 1000 Expenses, except depreciation 850 Depreciation 50 900 Income before taxes 100 Capital Charge (500x10%) 50 ECONOMIC VALUE ADDED 50 RETURN ON INVESTMENT =100/ 500 =20%
- 5. CAPITAL CHARGE= required rate of return identified by stock holders ECONOMIC VALUE ADDED= income before interest and taxes less capital charge RETURN ON INVESTMENT= income/assets employed(corporate equity)
- 6. ASSETS BEING MEASURED -CASH -RECEIVABLES -INVENTORIES -WORKING CAPITAL= CURRENT ASSETS- CURRENT LIABILITIES -PROPERTY PLANT AND EQUIPMENT