By Robert Higgins
Research for monetary administration, 9e is a paperback textual content and has been written to offer typical options and glossy advancements in a realistic and intuitive demeanour. it really is meant for non-financial managers and company scholars drawn to the perform of economic administration. Emphasis is at the managerial purposes of monetary research.
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Extra info for Analysis for Financial Management with S&P bind-in card (Mcgraw-Hill Irwin Series in Finance, Insurance and Real Estate)
Goodwill There is one instance in which intangible assets, such as brand names and patents, find their way onto company balance sheets. It occurs when one company buys another at a price above book value. Suppose an acquiring firm pays $100 million for a target firm and the target's assets have a book value of only $40 million and an estimated replacement value of only $60 million. ”1 The acquiring company paid a handsome premium over the fair value of the target's recorded assets because it places a high value on its unrecorded, or intangible, assets.
The word “net” stuck on the end of this entry tells us the amount is net of a reserve to cover expected bad debt losses. 3 million increase in “finance receivables, net” appearing on the sources and uses statement. Some analysts maintain that net cash provided by operating activities, appearing on the cash flow statement, is a more reliable indicator of firm performance than net income. They argue that because net income depends on a myriad of estimates, allocations, and approximations, devious managers can easily manipulate it.
7 million in interest expense and $18 million in income, primarily interest income on the company's large investment in marketable securities appearing on the balance sheet. Measuring Earnings This is not the place for a detailed discussion of accounting. But because earnings, or lack of same, are a critical indicator of financial health, several technical details of earnings measurement deserve mention. Accrual Accounting The measurement of accounting earnings involves two steps: (1) identifying revenues for the period and (2) matching the corresponding costs to revenues.