- •Exercise 1.
- •Exercise 2.
- •Exercise 3
- •Information about structure of Current Assets and sources it’ financing
- •Exercise 4
- •Exercise 5
- •Exercise 6
- •Exercise 7
- •Table 1 Measuring the value of a capital:
- •Table 2 Calculating the average value of capital
- •Exercise 8
- •Table 1 Calculation the level of financial profitability of enterprise in different variants of the structure of the capital
- •Exercise 9
- •Guiven data
- •Calculation the average value of capital in different variants of capital structure
- •Exercise 10
- •Exercise 11
- •Table 1 Calculation of level of operational, financial, combined leverage and it’s influence on level of financial profitability of enterprise
- •Exercise 12
- •Table 1 Calculating the credit costs in a bank “a” compared to Market terms
- •Exercise 13
- •Calculation the additional net cash flow of real investment project
- •Exercise 14
- •Table 1 Analysis of changes balance indicators.
- •Table 2 Розрахунок обсягу чистого грошового потоку підприємства з операційної діяльності.
- •Exercise 15
- •Table 1 Аналіз джерел формування та напрямків використання грошових коштів підприємства.
- •Table 2 Balancing Cash Flows analysis and analysis of effective it’s management
- •Exercise 16
- •Table 1 Calculation the main ways spending cash flows in operational activity
- •Calculation the level, synchronized and effectiveness of management cash flow
- •Exercise 17
- •Table 1 Cash Flow Plan in the next to Current period
Exercise 5
The company had problems with Current Receivables that decreased solvency of enterprise. So, financial department was tasked to evaluate necessity of factoring use. In this case you have:
Analize Period Turnover structure of Current Receivables;
Calculate and confirm the amount of Refinancing Current Receivables;
Evaluate the cost of factoring;
Confirm if it’s expedient factoring according to it’s efficacious.
А) Data of amount and Tirnover Period Current Receivables
-
Period Turnover
Current Receivables, thousand UAH
10 days
40
20 days
100
30 days
14
40 days
6
Total
160
The average turnover period of Current Receivables have to be 17 days, to keep the normal financial state.
B) Terms of factoring:
Commission payment of factoring is 2% of loan sum. A Bank will give a credit in sum of 75% of Receivables. The average market interest rate is 20%.
Exercise 6
The company spends 220 thousands UAH per year to return debts.
Revenue from sales in credit terms is 12 mln UAH. The average turnover period of Retirns is 2.5 months, hopeless debts are 4% of revenue.
If the company make twice increase staff, the turnover period receivables will be 2 months and expenses of hopeless debts will be 3%.
The additional expenses of stuff keeping will amount 180 thousand UAH.
Does it worth to make such changes if alternative expenses are:
А) 20%;
B) 10%.
Exercise 7
The enterprise is planning to include the following sources financing start of it’s activity:
Indicators |
Amount, thousand UAH |
1. Капітал, сформований за рахунок емісії звичайних акцій |
90 |
2. Капітал, сформований за рахунок привілейованих акцій |
35 |
3. Bank loans’ Capital |
40 |
Total |
165 |
а) the market vale привілейованої акції is – 30 UAH.,amount of dividend is – 7 UAH/share in a year.
б) the market value of Ринкова ціна простої акції – 40 UAH., dividend –10 UAH a year; темп приросту дивідендів – 2% річних.
в) the interest rate of long term bank’s loan is 10% a year.
г) Average industrial rate of Return on Assets is 30%.
Evaluate the necessarity to formate decided structure of capital. In this case you have:
To evaluate the value of each kind of involving capital;
To evaluate the average value of capital;
To make conclusion of necesserity to keep proposed structure of the capital.
Table 1 Measuring the value of a capital:
Indicator |
Calculating |
1. Капітал, сформований за рахунок емісії звичайних акцій |
|
2. Капітал, сформований за рахунок привілейованих акцій |
|
3. Капітал сформований за рахунок довгострокових банківських позик |
|
TOTAL |
|