https://rb.gy/n89u77
Understand who uses financial ratios and how. Use ratios to analyze a firm’s
liquidity and activity. Discuss the relationship between debt and financial leverage and the ratios used to analyze a firm’s debt. Use ratios to analyze a firm’s profitability and its market
Balancing the Distribution of Income: Factors Affecting Decision Making with ...David Kyson
The following report has been produced to critically explore existing literature concerned with dividend and investment policies. It investigates the factors, both internal and external, that may act as motivators when private listed companies are in the decision making process of how best to distribute retained earnings.
Benefits have been deduced for the two differing distribution policies, whilst critiquing the supporting literature to create a balanced and reliable view of both strategies. There is research indicating dividend policies can be a useful indicator for accounting fraud, although this is has been disputed by some. External factors such as tax and exchange rates have been found to have an effect on dividend policies, though there is contrasting evidence as to the permanence of the effect.
The role of the shareholders has also been investigated, finding that shareholders will often be attracted to companies directly because of their policies and may possibly pull their investment should the policy change. Different theories have been applied and critiqued in this section of the report.
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Create a 10- to 12-slide presentation that addresses each question within the Comparative Analysis Case, pp. 824-825. Click the Assignment Files tab to submit your assignment. The Coca-Cola Company and PepsiCo, Inc. The financial statements of Coca-Cola and PepsiCo
Balancing the Distribution of Income: Factors Affecting Decision Making with ...David Kyson
The following report has been produced to critically explore existing literature concerned with dividend and investment policies. It investigates the factors, both internal and external, that may act as motivators when private listed companies are in the decision making process of how best to distribute retained earnings.
Benefits have been deduced for the two differing distribution policies, whilst critiquing the supporting literature to create a balanced and reliable view of both strategies. There is research indicating dividend policies can be a useful indicator for accounting fraud, although this is has been disputed by some. External factors such as tax and exchange rates have been found to have an effect on dividend policies, though there is contrasting evidence as to the permanence of the effect.
The role of the shareholders has also been investigated, finding that shareholders will often be attracted to companies directly because of their policies and may possibly pull their investment should the policy change. Different theories have been applied and critiqued in this section of the report.
ACC 423 MART Education Counseling--acc423mart.commamata59
FOR MORE CLASSES VISIT
www.acc423mart.com
Create a 10- to 12-slide presentation that addresses each question within the Comparative Analysis Case, pp. 824-825. Click the Assignment Files tab to submit your assignment. The Coca-Cola Company and PepsiCo, Inc. The financial statements of Coca-Cola and PepsiCo
basic financial analysis, framework for ratio analysis, types of ratio analysis, liquidity ratios, debt ratios, equity ratios, activity ratios, profit ratio, index analysis, common size financial statements
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
3. 6-3
Basket Wonders’ Balance
Sheet (Asset Side)
a. How the firm stands on
a specific date.
b. What BW owned.
c. Amounts owed by
customers.
d. Future expense items
already paid.
e. Cash/likely convertible
to cash within 1 year.
f. Original amount paid.
g. Acc. deductions for
wear and tear.
Cash and C.E. $ 90
Acct. Rec.c 394
Inventories 696
Prepaid Exp d 5
Accum Tax Prepay 10
Current Assetse $1,195
Fixed Assets (@Cost)f 1030
Less: Acc. Depr. g (329)
Net Fix. Assets $ 701
Investment, LT 50
Other Assets, LT 223
Total Assetsb $2,169
Basket Wonders Balance Sheet (thousands) Dec. 31, 2003a
4. 6-4
Basket Wonders’ Balance
Sheet (Liability Side)
a. Note, Assets =
Liabilities + Equity.
b. What BW owed and
ownership position.
c. Owed to suppliers for
goods and services.
d. Unpaid wages,
salaries, etc.
e. Debts payable < 1 year.
f. Debts payable > 1 year.
g. Original investment.
h. Earnings reinvested.
Notes Payable $ 290
Acct. Payablec 94
Accrued Taxes d 16
Other Accrued Liab. d 100
Current Liab. e $ 500
Long-Term Debt f 530
Shareholders’ Equity
Com. Stock ($1 par) g 200
Add Pd in Capital g 729
Retained Earnings h 210
Total Equity $1,139
Total Liab/Equitya,b $2,169
Basket Wonders Balance Sheet (thousands) Dec. 31, 2003
5. 6-5
Basket Wonders’
Income Statement
a. Measures profitability
over a time period.
b. Received, or receivable,
from customers.
c. Sales comm., adv.,
officers’ salaries, etc.
d. Operating income.
e. Cost of borrowed funds.
f. Taxable income.
g. Amount earned for
shareholders.
Net Sales $ 2,211
Cost of Goods Sold b 1,599
Gross Profit $ 612
SG&A Expenses c 402
EBITd $ 210
Interest Expensee 59
EBT f $ 151
Income Taxes 60
EATg $ 91
Cash Dividends 38
Increase in RE $ 53
Basket Wonders Statement of Earnings (in thousands)
for Year Ending December 31, 2003a
6. 6-6
Liquidity Ratios
Current
Current Assets
Current Liabilities
For Basket Wonders
December 31, 2003
Shows a firm’s
ability to cover its
current liabilities
with its current
assets.
Balance Sheet Ratios
Liquidity Ratios
$1,195
$500
= 2.39
8. 6-8
Liquidity Ratios
Acid-Test (Quick)
Current Assets - Inv
Current Liabilities
For Basket Wonders
December 31, 2003
Shows a firm’s
ability to meet
current liabilities
with its most liquid
assets.
Balance Sheet Ratios
Liquidity Ratios
$1,195 - $696
$500
= 1.00
10. 6-10
Summary of the Liquidity
Ratio Comparisons
Strong current ratio and weak acid-test
ratio indicates a potential problem in the
inventories account.
Note that this industry has a relatively
high level of inventories.
Ratio BW Industry
Current 2.39 2.15
Acid-Test 1.00 1.25
11. 6-11
Current Ratio -- Trend
Analysis Comparison
Trend Analysis of Current Ratio
1.5
1.7
1.9
2.1
2.3
2.5
2001 2002 2003
Analysis Year
RatioValue
BW
Industry
12. 6-12
Acid-Test Ratio -- Trend
Analysis Comparison
Trend Analysis of Acid-Test Ratio
0.5
0.8
1.0
1.3
1.5
2001 2002 2003
Analysis Year
RatioValue
BW
Industry
13. 6-13
Summary of the Liquidity
Trend Analyses
The current ratio for the industry has
been rising slowly at the same time the
acid-test ratio has been relatively stable.
This indicates that inventories are a
significant problem for BW.
The current ratio for BW has been rising
at the same time the acid-test ratio has
been declining.
14. 6-14
Financial Leverage Ratios
Debt-to-Equity
Total Debt
Shareholders’ Equity
The ratio tells us that creditors
are providing 90 cents of
financing for each $1 being
provided by shareholders.
Creditors would generally like
this ratio to be low.
Shows the extent to
which the firm is
financed by debt.
Balance Sheet Ratios
Financial Leverage
Ratios
$1,030
$1,139
= .90
15. 6-15
Financial Leverage
Ratio Comparisons
BW Industry
.90 .90
.88 .90
.81 .89
Year
2003
2002
2001
Debt-to-Equity Ratio
BW has average debt utilization
relative to the industry average.
16. 6-16
Financial Leverage Ratios
Debt-to-Total-Assets
Total Debt
Total Assets
47 percent of the firm’s
assets are financed with
debt and the remaining 53
percent of the financing
comes from equity
Shows the percentage
of the firm’s assets
that are supported by
debt financing.
Balance Sheet Ratios
Financial Leverage
Ratios
$1,030
$2,169
= .47
17. 6-17
Financial Leverage
Ratio Comparisons
BW Industry
.47 .47
.47 .47
.45 .47
Year
2003
2002
2001
Debt-to-Total-Asset Ratio
BW has average debt utilization
relative to the industry average.
18. 6-18
Financial Leverage Ratios
Total Capitalization
Total Debt
Total Capitalization
For Basket Wonders
December 31, 2003
Shows the relative
importance of long-term
debt to the long-term
financing of the firm.
Balance Sheet Ratios
Financial Leverage
Ratios
$1,030
$1,669
= .62
(i.e., LT-Debt + Equity)
19. 6-19
Financial Leverage
Ratio Comparisons
BW Industry
.62 .60
.62 .61
.67 .62
Year
2003
2002
2001
Total Capitalization Ratio
BW has average long-term debt utilization
relative to the industry average.
20. 6-20
Coverage Ratios
Interest Coverage
EBIT
Interest Charges
the higher the ratio, the
greater the likelihood that
the company could cover
its interest payments
without difficulty
Indicates a firm’s
ability to cover
interest charges.
Income Statement
Ratios
Coverage Ratios
$210
$59
= 3.56 times
22. 6-22
Coverage Ratio -- Trend
Analysis Comparison
Trend Analysis of Interest Coverage Ratio
3.0
5.0
7.0
9.0
11.0
2001 2002 2003
Analysis Year
RatioValue
BW
Industry
23. 6-23
Summary of the Coverage
Trend Analysis
This indicates that low earnings (EBIT)
may be a potential problem for BW.
Note, we know that debt levels are in
line with the industry averages.
The interest coverage ratio for BW has
been falling since 2001. It has been
below industry averages for the past
two years.
24. 6-24
Activity Ratios
Receivable Turnover
Annual Net Credit Sales
Receivables
The higher the turnover, the shorter the
time between the typical sale and cash
collection
Indicates quality of
receivables and how
successful the firm is in
its collections.
Income Statement /
Balance Sheet
Ratios
Activity Ratios
$2,211
$394
= 5.61 times
(Assume all sales are credit sales.)
25. 6-25
Activity Ratios
Avg Collection Period
Days in the Year
Receivable Turnover
This figure tells us the average number
of days that receivables are outstanding
before being collected
Average number of days
that receivables are
outstanding.
(or RT in days)
Income Statement /
Balance Sheet
Ratios
Activity Ratios
365
5.61
= 65 days
26. 6-26
Activity
Ratio Comparisons
BW Industry
65.0 65.7
71.1 66.3
83.6 69.2
Year
2003
2002
2001
Average Collection Period
BW has improved the average collection
period to that of the industry average.
27. 6-27
Activity Ratios
Payable Turnover (PT)
Annual Credit Purchases
Accounts Payable
The higher the turnover, the shorter the
time between the credit purchase and
cash payment.
-promptness of payment to suppliers.Indicates the
promptness of payment
to suppliers by the firm.
Income Statement /
Balance Sheet
Ratios
Activity Ratios
$1551
$94
= 16.5 times
(Assume annual credit
purchases = $1,551.)
28. 6-28
Activity Ratios
PT in Days
Days in the Year
Payable Turnover
This figure tells us the average number
of days that payables are yet to be paid
Average number of days
that payables are
outstanding.
Income Statement /
Balance Sheet
Ratios
Activity Ratios
365
16.5
= 22.1 days
30. 6-30
Activity Ratios
Inventory Turnover
Cost of Goods Sold
Inventory
Tells us how many times inventory is turned
over into receiveables through sales during
the year
Higher the inventory turnover, the more
efficient the inventory management
Indicates the
effectiveness of the
inventory management
practices of the firm.
Income Statement /
Balance Sheet
Ratios
Activity Ratios
$1,599
$696
= 2.30 times
32. 6-32
Inventory Turnover Ratio --
Trend Analysis Comparison
Trend Analysis of Inventory Turnover Ratio
2.0
2.5
3.0
3.5
4.0
2001 2002 2003
Analysis Year
RatioValue
BW
Industry
33. 6-33
Activity Ratios
Total Asset Turnover
Net Sales
Total Assets
The total asset turnover ratio tells us the
relative efficiency with which a firm
utilizes its total assets to generate sales.
Indicates the overall
effectiveness of the firm
in utilizing its assets to
generate sales.
Income Statement /
Balance Sheet
Ratios
Activity Ratios
$2,211
$2,169
= 1.02 times
34. 6-34
Activity
Ratio Comparisons
BW Industry
1.02 1.17
1.03 1.14
1.01 1.13
Year
2003
2002
2001
Total Asset Turnover Ratio
BW has a weak total asset turnover ratio.
Why is this ratio considered weak?
35. 6-35
Profitability Ratios
Gross Profit Margin
Gross Profit
Net Sales
Measures the efficiency of the firm’s
operations, as well as an indication of
how products are priced.
Indicates the efficiency
of operations and firm
pricing policies.
Income Statement /
Balance Sheet
Ratios
Profitability Ratios
$612
$2,211
= .277
37. 6-37
Gross Profit Margin --
Trend Analysis Comparison
Trend Analysis of Gross Profit Margin
25.0
27.5
30.0
32.5
35.0
2001 2002 2003
Analysis Year
RatioValue(%)
BW
Industry
38. 6-38
Profitability Ratios
Net Profit Margin
Net Profit after Taxes
Net Sales
measure of the firm’s profitability of
sales after taking account of all
expenses and income taxes.
Indicates the firm’s
profitability after taking
account of all expenses
and income taxes.
Income Statement /
Balance Sheet
Ratios
Profitability Ratios
$91
$2,211
= .041
40. 6-40
Net Profit Margin --
Trend Analysis Comparison
Trend Analysis of Net Profit Margin
4
5
6
7
8
9
10
2001 2002 2003
Analysis Year
RatioValue(%)
BW
Industry
41. 6-41
Profitability Ratios
Return on Investment
Net Profit after Taxes
Total Assets
This ratio is an indicator of
management’s efficiency in using its
assets to generate profits
Indicates the
profitability on the
assets of the firm (after
all expenses and taxes).
Income Statement /
Balance Sheet
Ratios
Profitability Ratios
$91
$2,160
= .042
43. 6-43
Return on Investment –
Trend Analysis Comparison
Trend Analysis of Return on Investment
4
6
8
10
12
2001 2002 2003
Analysis Year
RatioValue(%)
BW
Industry
44. 6-44
Profitability Ratios
Return on Equity
Net Profit after Taxes
Shareholders’ Equity
For Basket Wonders
December 31, 2003Indicates the profitability
to the shareholders of
the firm (after all
expenses and taxes).
Income Statement /
Balance Sheet
Ratios
Profitability Ratios
$91
$1,139
= .08
46. 6-46
Return on Equity --
Trend Analysis Comparison
Trend Analysis of Return on Equity
7.0
10.5
14.0
17.5
21.0
2001 2002 2003
Analysis Year
RatioValue(%)
BW
Industry
47. 6-47
Summary of the Profitability
Trend Analyses
The profitability ratios for BW have ALL
been falling since 2001. Each has been
below the industry averages for the past
three years.
This indicates that COGS and
administrative costs may both be too
high and a potential problem for BW.
Note, this result is consistent with the low
interest coverage ratio.
48. 6-48
Summary of Ratio Analyses
Inventories are too high.
May be paying off creditors
(accounts payable) too soon.
COGS may be too high.
Selling, general, and
administrative costs may be too
high.