Trevor公司财务资源管理与决策分析 [5]
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论文字数:3525论文编号:org201510051721489051语种:英语 English地区:中国价格:免费论文
关键词:财务资源Financial statements基础信息
摘要:这是一个关于Trevor公司财务资源管理与决策分析的essay范文。内容包括:财务报表,比率分析,营运资金管理,财务分析,决策者的信息需求,单位成本和利润率,建议与结论。
Value (NPV) and Discounted Pay Back Period
NPV = £ 484,750.89 (Refer Appendix 02)
Discounted Pay Back Period = 02 years and Nine Months (Refer Appendix 02)
This project gives positive NPV of £ 484,750.89. Further this project enables to recover its initial investment with in the period of 02 years Nine months. In order to make a decision based on the discounted payback period it has to be compared with target payback period. However project recovers its cost during its life time. Meanwhile positive NPV value gives a favorable indication that project is worthwhile. Therefore according the calculation it's profitable to accept the project.
Sources of Financing
Term Loans
Higher Purchases
Debentures
Venture Capital
Leases
Offer for sales
Right Issue
Tax Impact, Control and Ownership of Sources of finance
Term Loans, Higher purchases, Debentures, Leases and venture capital can be identified as the debt financing methods.
In the case of term loans, higher purchases, debentures and leases, existing ownership of the company may not be diluted. Voting rights to Control the company lies with the equity holders even though the company raise finance through above mentioned sources. Interest payments on debentures and term loans are tax deductible and debt holders do not have any controlling power in the company. However in the case of venture capital there is a risk associates with controlling power of the company, since controlling and planning of the business will be held in the newly acquired management.
Rising of equity financing is much easier for a public company whose shares are traded on a stock exchange then it's for a private company. Offer for sales and right issue can be identified as sources of Equity financing. Right issues are cheaper than offer for sales to the general public since it does not require the prospectus and less cost of underwriting. Right issues are more beneficial to existing shares holders than new shareholders. New shares are issued at discount to the current market price to the existing shareholders. In the case of right issues controlling power and ownership of the existing shareholders may not be diluted. However offer sales will lead to dilute the controlling power of the existing share holders. Dividend payments to existing shareholders and new shareholders are not tax deductible.
Term Loans
Long term loans are available from lending institutions and the commercial banks. It can be obtained to cover specific projects for restructuring as well as for equipment financing. Term loans are granted mainly on the strengths of cash generation of the project. This type of term loan facilitates grace period and easy repayment schedule at the early stage of projects operations.
High purchases
This is defined as procedure of purchasing goods under which the purchaser pays a deposit on the receipt of the goods followed by a number of installments until the debt is cleared. The goods do not become the property of the purchaser until the last installment has been paid.
Debentures
Debenture is direct from of borrowing by a company from the investors. In this case the interest rate and maturity period are fixed. The company is not required
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