Finance

Corporate restructure has a major impact on human resource activities. HR professionals collaborate and advise their corporate partners on these major decisions, and their implementation impacts and rallies the services provided from every specialty within HR. In Chapter 9, we learned some new analytical measures that help us evaluate these major investments and changes. Please use what you learned to discuss the following: Why do we calculate terminal value when valuing a business if we did not use it for the team projects? What would influence a Technology industry corporation’s make or buy decision if it wanted to add a new IT consulting services division specialized in social media data mining? When two corporations merge, how are the newly-formed business entity’s HR activities impacted? What activities would HR undertake to integrate the two former companies into this new entity? Instead of valuing a company based on its debt and equity, what would be the difficulty of valuing all the assets of a business?

an investment consulting firm, is a believer in market efficiency and its managers make money by applying this strong belief. Go to the following website and find information about Dimensional Fund Advisors and the process they follow: http://us.dimensional.com/ After reading all the available information carefully and doing some additional research on your own, prepare a two page (double-spaced) essay presenting the investment consulting firm and answer the following question. “How does this firm and other make money by taking advantage of the Efficient Market Hypothesis?” Cite references to material that you use in preparing the essay. You may find some additional, helpful information here: http://www.oakwoodcap.com/library/dimensional-fund-advisors-library/ Your essay will be graded on the following criteria: 1. Described at least 4 of the following elements: (1) Definition of market efficiency, (2) Availability of information, (3) Arbitrage, (4) Risk versus return, (5) Portfolio management, and (6) Indexing. 2. Discussed at least 2 of the following topics in discussing how to make a profit by taking advantage of the Efficient Market Hypothesis: Arbitrage Risk versus return Indexing, Portfolio management. 3. Used at least one example in the essay.

Prepare an analysis of the assigned company (1500 – 2,000 words) in order to secure a loan for the company. The loan will increase the company’s total liabilities by 3%. The contents of the project include the following: Discuss the loan amount and how you plan to use the loan proceeds. Use the Excel Spreadsheet provided and complete the following. a. Prepare a five-year vertical analysis of the company’s income statement. Prepare a projected income statement for 2020 and 2021 assuming sales increase by 3% and 6%. Compute the ratios listed with the income statement. Compute the ratios listed with the balance sheet. Using the results of your spreadsheet, what questions would you ask the CFO of the company? Explain. The assigned company, spreadsheet, detailed instructions, and guidance are provided during week three. see the following and complete the attached excel sheet. Financial Analysis: Open the Excel spreadsheet provided. Prepare a vertical analysis of Bridgford’s income statement. Enter the percentages in columns C, E, G, I, and K. For additional information regarding vertical analysis, please review the following. Vertical Analysis Prepare: a projected income statement assuming sales increase by 3% in 2020 and 6% in 2021. Average your vertical analysis percentages for each income statement account and enter the results in column L, rows 5 – 11. Example: Add columns C, E, G, I and K and divide by 5. (64.07+60.58+63.17+67.57+67.34)/5=64.55%. Column L, row 5 = 64.55%. Enter your projected sales number in columns M & N, row 4. Columns M and N: Multiply projected sales by the average percentage for each income statement account. Ratio Computations. Use Excel formulas to calculate financial ratios listed with the income statement and balance sheet tabs. Calculate ratios for seven years (i.e. 2015-2021). Do not prepare ratios that require data from the 2020 and 2021 balance sheet. In this case, “N/A” is entered in the appropriate cell. For additional information regarding ratios, please review the following. Financial Ratios Note: If there is a discrepancy between the formula used in our text versus the formula included with the above link, use the formula incorporated with the above link. Loan: The written section of the project includes a loan discussion and CFO questions and explanations. Use the following resources to complete your analysis. Form 10-K Corporate Annual and Earnings Report Chief Financial Officer Questions: Using the results of your spreadsheet, what questions would you ask the CFO of Bridgford Foods? Explain. Format your paper consistent with APA guidelines. Deliverables:  Paper (MS Word) and Excel Spreadsheet. Review your Originality Report generated from SafeAssign. A new originality report is created with each attempt. Your last attempt is used for grading. 

Part 1: Financial Acumen Keeping abreast of the financial measures and metrics employed by a company allows employees to better understand its health and position at any given time. Using Campbellsville University library link or other libraries and the Internet:1. Review at least three (3) articles on financial acuity. Summarize the articles in 400 – 600 words. Use APA formatting throughout including in-text citations and references. 2. Discuss the benefits of establishing solid financial acumen in a company? Discuss your personal experiences in a situation where financial acumen was either not supported as an organizational hallmark or, conversely, was built into the company’s culture. Part 2: Sarbanes-Oxley (SOX) Write a 200-word commentary on Sarbanes Oxley and the importance this act has for American businesses today. Your commentary should include the following: A. Rationale for SOX. B. Provisions of SOX. C. Enforcement of SOX

You are a graduate accountant of a second-tier accounting firm and your senior partners have approached you regarding concerns from a client of the firm, Horgan’s Wholefood. The Director at the client company, Mr Happy Horgan, has concerns about the objectivity of the financial reports being used when investors evaluate their company’s performance. Mr Horgan’s belief was that the information provided in a statement of financial position (balance sheet) was very objective, however it has been brought to Mr Horgan’s attention that financial accounting requires the use of significant professional judgement. Mr Horgan is unsure what this actually means and how this can impact on the information reported in the financial reports. Mr Horgan was also of the understanding that equity was something ‘real’ however he has concerns that this is not possible due to the influence of accountants/managers having to rely on professional judgement and therefore this could suggest that accounting information is actually ‘constructed’. Mr Horgan believes that this would ultimately present information that is unreliable. In view of these concerns from the client, Mr Horgan, your senior partner has asked you to make brief to explain how accountants/managers use professional judgement. In doing so, you need to allay any concerns expressed by the client regarding the issue of presenting unreliable information, but also present a balanced and ethical viewpoint. However, you can explain to Mr Horgan some of the potential issues with reliance on information reported in the statement of financial position as an objective measure of company’s wealth. The use of examples is encouraged.Required: providing a short brief that can be distributed to your internal team and that the client can also take away.Brief Executive summary – Very brief and concise summary of the key points of your report. Content page – Not to be included as word count. Introduction – Background, Objectives and Purpose of the report and Scope of the report Body – Detailed explanation/elaboration of key findings of your research Conclusion/Recommendation – Concludes your report and if applicable, you can provide some recommendation(s) that is (are) consistent and based on the key findings of Body. Reference list

Its my final assignment for corporate finance. Its an financial assignment on Netflix. There is clearly some disagreement about the financial situation of Netflix (NFLX). Consequently, a more in-depth analysis (over the last 5 years) is called for. 1) Executive summary: Review and select the most important facts and figures about Netflix, which, in your opinion, will enable a reasonably educated person to understand in which financial position Netflix is right now. Perform the same for Netflix’s earnings situation. Provide evidence for any and all claims you make. 2) Performance review: a. How is Netflix performing right now? Would you say that Netflix is earning adequate returns? Why or why not? b. How has Netflix’s performance changed over the last years? Why or why not? Which metric do think is most meaningful for this purpose? Why? 3) Capital structure review: a. Provide an overview of Netflix’s current capital structure and additionally identify anything out of the ordinary. b. Analyze all material (!) changes in Netflix’s capital structure over the last 5 years. Put an emphasis on: i. Can you reconcile your analysis of capital structure changes with the propositions of Modigliani and Miller? Why or why not? Provide evidence for your claims. ii. Do you find evidence that Netflix changes its capital structure in accordance with the pecking order theory? Why or why not? Provide evidence for your claims. iii. If you were Netflix’s financial advisor, what would you recommend? 4) Dividend policy review: a. Provide an overview of Netflix’s dividend policy of the last 5 years. When and why did Netflix: i. pay a cash dividend? ii. perform a share repurchase? iii. perform a stock split? iv. perform a reverse stock split? b. Can you find any evidence for the presence of a clientele effect? What would even constitute evidence in this case? c. Does Netflix engage in a so-called “high dividend policy”? Why or why not? Which evidence do you find? d. Do you see any evidence that Netflix acts upon shareholder pressure? Which evidence can you present? 5) Risk review: a. Calculate Netflix’s CAPM beta coefficient and provide an interpretation b. Compare Netflix’s CAPM efficient to the beta of its main competitor and explain in detail: i. how you calculated Netflix’s beta, ii. which input parameters you used, iii. the data of which period you processed (Hint: you need not stick to 5 years here!), and iv. how you selected the main competitor (Note: you need not calculate the beta of the main competitor as well – you may look it up) v. Which of the 2 firms is the riskier investment in your opinion? Why? 6) Portfolio theory: Imagine a portfolio consisting of any full percentage (0% – 100%) of Netflix stock (NFLX) and any full percentage of fellow NASDAQ listed firm Wynn Resorts (WYNN). This means you could have a “portfolio” consisting only of Netflix stocks, only of Wynn Resort stocks or any mix in between. a. Calculate and interpret the average returns of Netflix and Wynn Resort stocks individually using stock price data from the last 5 years. b. Calculate and interpret the standard deviations of Netflix and Wynn Resort stocks returns individually using stock price data from the last 5 years. c. Plot all possible portfolios resulting from the combinations of the stocks of Netflix and Wynn Resorts in a risk-return diagram. Indicate the minimum variance portfolio (MV), the opportunity set (a.k.a. the feasible set), the efficient frontier as well as the inefficient frontier (a.k.a. the “idiot curve”). d. Imagine you could only use stock price data from the last 4 months (starting November 2019). How and why would your risk-return diagram change?

Corporate restructure has a major impact on human resource activities. HR professionals collaborate and advise their corporate partners on these major decisions, and their implementation impacts and rallies the services provided from every specialty within HR. In Chapter 9, we learned some new analytical measures that help us evaluate these major investments and changes. Please use what you learned to discuss the following: Why do we calculate terminal value when valuing a business if we did not use it for the team projects? What would influence a Technology industry corporation’s make or buy decision if it wanted to add a new IT consulting services division specialized in social media data mining? When two corporations merge, how are the newly-formed business entity’s HR activities impacted? What activities would HR undertake to integrate the two former companies into this new entity? Instead of valuing a company based on its debt and equity, what would be the difficulty of valuing all the assets of a business?

You will need to interview an accountant who work in the for-profit sector and an accountant who works in the nonprofit sector in similar industries to evaluate the concepts surrounding the nature of accounting methods and issues of decision making and ethics. After completing your interviews, prepare a paper in which you include the following: Introduce the industry in which your interviewees work. What are the main differences in the for-profit and nonprofit organizations that the accountants represent? Compare and contrast the Mission, Vision, and organizational culture of each organization. Critique the differences in fund accounting and SFAS accounting between the two. Summarize how each account strives to maintain ethical accounting standards. Are there limitations to what each accountant can do based on working in either a nonprofit or for-profit organization? Identify the most common sources of fraud for each organization. What role does the accountant play in his or her organization about managerial decision making? Provide detailed examples demonstrating the need for accountants to fill this critical role. Summary of what you have learned from the interviewees and their responses to conclude your paper. Support your paper with a minimum of seven (7) scholarly resources. In addition to these specified resources, other appropriate academic resources, including older articles, may be included. Length: 12-15 pages not including title and reference pages

Respond to the questions using the lessons and vocabulary found in the reading. Support your answers with examples and research and cite your research using the APA format. Start reviewing and responding to the postings of your classmates as early in the week as possible. Forecasting and Financing Projects On the basis of the knowledge you gained from your readings, respond to the following questions: It can be difficult to accurately forecast a project’s cash flows because many risk factors may be present. As an analyst, what will you do to increase the accuracy of the project’s cash flow forecasts? Provide details of the techniques that you would use and explain why. Some firms use more debt in their capital structure than other firms. Some would argue that the use of debt in the capital structure enhances the owners’ return on their investments. Others would say that the use of debt only increases the level of risk for the owners of the company. Which argument do you agree with and why? Explain your position. If debt is to be used when raising funds for a capital investment, how would you determine the proper level of debt? Explain your answer using examples.

Three eye-ear-nose-and-throat physicians decide to hire an experienced audiologist in order to add a new service line to their practice.* They ask the practice manager to prepare a three-level volume forecast as a first step in their decision making. *Assume audiologists were designated as “eligible for physician and other prescriber incentives.” Thus the new service line was a logical move. Assumptions: For the base level (most likely) revenue forecast, assume $200 per procedure times 4 procedures per day times 5 days equals 20 procedures per week times 50 weeks per year equals 1,000 potential procedures per year. For the best-case revenue forecast, assume an increase in volume of one procedure per day average, for an annual increase of 250 procedures (5 days per week times 50 weeks equals 250). (The best case is if the practice gains a particular managed care contract.) For the worst case revenue forecast, assume a decrease in volume of 2 procedures per day average, for an annual decrease of 500 procedures. (The worst case is if the practice loses a major payer.) Required Create the required table in an Excel document to complete this assignment, you must calculate the revenue forecasts at each level (and show your work), but you do not need to create the line chart