Overview of Finance 520.

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Presentation transcript:

Overview of Finance 520

Financial Analysis, Planning, and Control Three Areas of Focus Focus Areas Financial Analysis, Planning, and Control 1 Investment Decision 2 Capital Structure 3 Main Questions How is the firm doing today, and how does the firm’s future look? Which investments should be made? How are the assets and operations going to be financed?

Financial Analysis, Planning, and Control Topics Ratios (trends, industry averages) Leverage Liquidity Profitability Activity Value Growth Du Pont System Planning: Pro forma statements Cash Budgets Breakeven Analysis Capital Budgeting Control (require reporting): Standard Costs Variances Capital Budget Cash Controls Information Resources Slide Presentations Chapter Sections Statement of Cash Flows Ratios Long-Term Planning Short-Term Planning- Break Even and Leverage Working Capital and Current Assets Working Capital and Short- Term Liabilities 2, 3 3.3 4 19.3 11.3-11.5, 19.2 19.5

Information Resources Investment Decision Tools Time value of money Paper Assets Bond Preferred and Common Stock Capital Budgeting (Tangible Assets) Cost of Capital Weighted Average Cost of Capital (WACC) CAPM Information Resources Slide Presentations Chapter Sections Time Value of Money, NPV, and IRR Valuing Tangible Assets: Capital Budgeting Valuing Paper Assets: Stocks and Bonds Capital Asset Pricing Model Stock Market Investing in the 21st Century: Four Important Lessons 5, 6, 9.1-9.5 9.7-9.8 10 7, 8 15 12.1-12.4 13 12.5-12.6

Information Resources Capital Structure Debt vs. Equity Operating and Financial Leverage FRICTO Analysis Range of Earnings Chart Dividend Policy Investment Opportunities Marginal Cost of Capital Clientele Expectations Signals Cash Position Leasing Operating, Financial, Sale Lease Back, etc. Information Resources Slide Presentations Chapter Sections Costs and Benefits of Debt: Capital Structure Raising Capital (Guest Presentations) 11.3-11.5 17 16 26