By Harold Bierman
This publication introduces company monetary administration, in accordance with the fundamental capital budgeting framework and the time price of cash. It specializes in theoretical formulations and proper software of monetary concepts that might support enhance managerial and fiscal judgements. in response to primary rules of accounting and finance like time price of cash and after-tax funds flows, it introduces readers to real-world constraints and complexities within the fields.
Written in an easy and available demeanour, this e-book should be learn through scholars of finance and accounting classes, company pros and common public alike.
Readership: Undergraduates and graduates in economics & finance; enterprise execs drawn to mergers and organizations.
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Additional resources for An Introduction to Accounting and Managerial Finance: A Merger of Equals
A. We can make an immediate payment now of $10,000 or pay equal amounts of R for the next four years (first payment due one year from now). 10, what is the maximum value of payment that we would be willing to make? b. Now assume that the first of the five payments is immediate. What is the maximum value of payment we would be willing to make? 21. The XYZ Company has borrowed $100,000. Payments will be made over a four-year period (first payment at the end of the first year). 20 per year. November 6, 2009 13:43 26 spi-b811 9in x 6in b811-ch02 An Introduction to Accounting and Managerial Finance a.
It has the disadvantage of not explicitly showing the total assets or total liabilities. November 6, 2009 13:43 spi-b811 9in x 6in b811-ch03 An Introduction to Financial Reporting 41 These totals can be derived from the balance sheet regardless of the format, but they are more difficult to find when the step presentation is used. An example of a balance sheet using this format is also shown below. Sample Company Balance Sheet as of December 31, 20XX Assets Current Assets Cash on Hand Cash in Bank Marketable Securities Accounts Receivable Inventories Prepaid Expenses Total Current Assets Long-Lived Assets Land Buildings Equipment Total Long-Lived Assets Total Assets $ 2,000 30,000 8,000 60,000 50,000 2,000 $152,000 $ 15,000 53,000 60,000 128,000 $280,000 Liabilities and Stockholders’ Equity Current Liabilities Accounts Payable $30,000 Taxes Payable 70,000 Total Current Liabilities Long-Term Liabilities Bonds Payable Total Liabilities Stockholders’ Equity Common Stock Retained Earnings Total Stockholders’ Equity Total Liabilities and Stockholders’ Equity $100,000 80,000 $180,000 $ 90,000 10,000 100,000 $280,000 November 6, 2009 13:43 42 spi-b811 9in x 6in b811-ch03 An Introduction to Accounting and Managerial Finance Sample Company Balance Sheet as of December 31, 20XX Current Assets Cash on Hand Cash in Bank Marketable Securities Accounts Receivable Inventories Prepaid Expenses Deduct: Current Liabilities Accounts Payable Taxes Payable $ 2,000 30,000 8,000 60,000 50,000 2,000 $152,000 $ 30,000 70,000 $100,000 Net Current Assets $ 52,000 Noncurrent Assets Land Buildings Equipment $ 15,000 53,000 60,000 Total Assets less Current Liabilities $180,000 Deduct: Long-Term Debt Bonds Payable $ 80,000 Net Assets $100,000 Ownership Common Stock Retained Earnings $ 90,000 10,000 $100,000 Managerial Uses of the Balance Sheet The primary function of a balance sheet is to indicate the financial position of an organization.
Marketable securities are securities held for temporary purposes for which there is a ready market. These are considered to be a current asset, as it is normally expected that they will be sold within one year. If similar securities were being held for control purposes and therefore not likely to be sold, they would be referred to as investments and classified as a noncurrent asset. An asset held as a noncurrent investment becomes a current marketable security when the corporation intends to dispose of its holding in the next year.
An Introduction to Accounting and Managerial Finance: A Merger of Equals by Harold Bierman