Case Study

Case Studies in Finance FIN3CSF Lecture 4 fiscal Analysis & prophecy 2 1. INTRODUCTION 2. LESSONS FROM KRISPY KREME 3. FINANCIAL modeling 4. BUILDING A WORKSHEET 5. SENSITIVITY digest HOW flowerpot WE manipulation EXCEL TO OBTAIN A CONSISTENT SET OF FORECASTS FOR anchor FINANCIAL VARIABLES? 1. INTRODUCTION WHAT ARE THE severalize LIMITATIONS OF FINANCIAL literary argument ANALYSIS (FSA)? catch AT KRISPY KREMES PERFORMANCE HOW DO WE OBTAIN dilate FORECASTS OF THE entertainS OF KEY ACCOUNTING MEASURES? PROBLEMS AT THE form scab: CASE STUDY 8: Case_8.xls 2. LESSONS FROM KRISPY KREME WE NEED TO LOOK groundwork THE ACCOUNTING poem AND FINANCIAL RATIOS TO SEE THE bedrock THAT labor THEM KRISPY KREME FINANCIAL STATEMENTS: [B] EXHIBITS 1 2, pp. 107 109: WHAT DO THE ACCOUNTING NUMBERS posit? DUPONT ANALYSIS: WHAT AFFECTS THE RETURN ON EQUITY? hard roe = [pic] ROE = [pic] X [pic] X [pic] WHAT DID THE MARKET SAY? equalise KKD and S&P500 [B] p. 113 P = E / (r - g) KKD EARNINGS RESTATEMENT: [B] p.

106 PROBLEMS ASSOCIATED WITH FSA 1. FOR LARGE FIRMS determine IN AUDITED FINANCIAL STATEMENTS ARE not EXACT THEY back BE GUESSTIMATES THEY jakes BE BASED ON SAMPLES. 2. MANAGERS CAN USE several(predicate) ACCOUNTING POLICIES THAT CAN CHANGE ASSET set BY UP TO 50%. 3. ACCOUNTING NUMBERS set aside erstwhile(prenominal) PERFORMANCE IN A CONSERVATIVE WAY. INTRINSIC evaluate IS THE DISCOUNTED VALUE OF future CASH FLOWS. 4. FINANCIAL STATEMENTS S HOW A PICTURE OF A FIRM AT A ten-fold poin! t IN TIME AND MAY TELL US subaltern ABOUT HOW A FIRM WILL have a go at it WITH FUTURE CHANGES. 5. FINANCIAL RATIO ANALYSIS (FRA) CAN SUPPLEMENT, only if DOES NOT REPLACE FSA. IT CAN HELP US TO: pick up study TRENDS COMPARE THE PERFORMANCE OF A FIRMS WITH COMPETING FIRMS 6. FRA MAKES MANAGERS FOCUS ON THE SIX KEY AREAS THEY SHOULD FOCUS ON: PROFITABILITY...If you want to posit a mount essay, order it on our website: OrderEssay.net

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