Category: Essays

Directions: Answer the following ten questions on a separate document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both.

QUESTION 1

Which of the following statements is most CORRECT?

a. The smaller the synergistic benefits of a particular merger, the greater the scope for striking a bargain in negotiations, and the higher the probability that the merger will be completed.

b. Since mergers are frequently financed by debt rather than equity, a lower cost of debt or a greater debt capacity are rarely relevant considerations when considering a merger.

c. Managers who purchase other firms often assert that the new combined firm will enjoy benefits from diversification, including more stable earnings. However, since shareholders are free to diversify their own holdings, and at what’s probably a lower cost, diversification benefits is generally not a valid motive for a publicly held firm.

d. Operating economies are never a motive for mergers.

e. Tax considerations often play a part in mergers. If one firm has excess cash, purchasing another firm exposes the purchasing firm to additional taxes. Thus, firms with excess cash rarely undertake mergers.

QUESTION 2

Which of the following statements is most CORRECT?

a.Financial theory says that the choice of how to pay for a merger is really irrelevant because, although it may affect the firm’s capital structure, it will not affect its overall required rate of return.

b. The basic rationale for any financial merger is synergy and, thus, the estimation of pro forma cash flows is the single most important part of the analysis.

c. In most mergers, the benefits of synergy and the premium the acquirer pays over the market price are summed and then divided equally between the shareholders of the acquiring and target firms.

d. The primary rationale for most operating mergers is synergy.

e. The acquiring firm’s required rate of return in most horizontal mergers will not be affected, because the 2 firms will have similar betas.

QUESTION 3

Which of the following statements about valuing a firm using the APV approach is most

CORRECT?

a. The horizon value is calculated by discounting the free cash flows beyond the horizon date and any tax savings at the cost of debt.

b. The horizon value is calculated by discounting the expected earnings at the WACC.

c. The horizon value is calculated by discounting the free cash flows beyond the horizon date and any tax savings at the WACC.

d. The horizon value must always be more than 20 years in the future.

e. The horizon value is calculated by discounting the free cash flows beyond the horizon date and any tax savings at the levered cost of equity

QUESTION 4

Which of the following statements about valuing a firm using the APV approach is most

CORRECT?

a. The value of equity is calculated by discounting the horizon value, the tax shields, and

the free cash flows at the cost of equity.

b. The value of operations is calculated by discounting the horizon value, the tax shields, and the free cash flows before the horizon date at the unlevered cost of equity.

c. The value of equity is calculated by discounting the horizon value and the free cash flows at the cost of equity.

d. The APV approach stands for the accounting pre-valuation approach.

e. The value of operations is calculated by discounting the horizon value, the tax shields, and the free cash flows at the cost of equity.

QUESTION 5

Which of the following statements is most CORRECT?

a. A defensive merger is one where the firm’s managers decide to merge with another firm to avoid or lessen the possibility of being acquired through a hostile takeover.

b. Acquiring firms send a signal that their stock is undervalued if they choose to use stock to pay for the acquisition.

c. Cash payments are used in takeovers but never in mergers.

d. Managers often are fired in takeovers, but never in mergers.

e. If a company that produces military equipment merges with a company that manages a chain of motels, this is an example of a horizontal merger

QUESTION 6

Which of the following are NOT ways risk management can be used to increase the value of a firm?

a. Risk management can help a firm maintain its optimal capital budget.

b. Risk management can reduce the expected costs of financial distress.

c. Risk management can help firms minimize taxes.

d. Risk management can allow managers to defer receipt of their bonuses and thus postpone tax payments.

e. Risk management can increase debt capacity

.

QUESTION 7

Which of the following statements about interest rate and reinvestment rate risk is CORRECT?

a. Interest rate price risk exists because fixed-rate debt securities lose value when interest rates rise, while reinvestment rate risk is the risk of earning less than expected when interest payments or debt principal are reinvested.

b. Interest rate price risk can be eliminated by holding zero coupon bonds.

c. Reinvestment rate risk can be eliminated by holding variable (or floating) rate bonds.

d. Interest rate risk can never be reduced.

e. Variable (or floating) rate securities have more interest rate (price) risk than fixed rate securities.

QUESTION 8

A swap is a method used to reduce financial risk. Which of the following statements about swaps, if any, is NOTCORRECT?

a. The earliest swaps were currency swaps, in which companies traded debt denominated in different currencies, say dollars and pounds.

b. Swaps are very often arranged by a financial intermediary, who may or may not take the position of one of the counterparties.

c. A problem with swaps is that no standardized contracts exist, which has prevented the development of a secondary market.

d. A company can swap fixed interest payments for floating interest payments.

e. A swap involves the exchange of cash payment obligations.

QUESTION 9

Which of the following statements is most CORRECT?

a. Futures contracts generally trade on an organized exchange and are marked to market daily.

b. Goods are never delivered under forward contracts, but are almost always delivered under futures contracts.

c. There are futures contracts for currencies but no forward contracts for currencies.

d. Futures contracts don’t have any margin requirements but forward contracts do.

e. One advantage of forward contracts is that they are default free

QUESTION 10

A commercial bank recognizes that its net income suffers whenever interest rates increase.

Which of the following strategies would protect the bank against rising interest rates?

a. Entering into an interest rate swap where the bank receives a fixed payment stream, and in return agrees to make payments that float with market interest rates.

b. Purchase principal only (PO) strips that decline in value whenever interest rates rise.

c. Enter into a short hedge where the bank agrees to sell interest rate futures.

d. Sell some of the bank’s floating-rate loans and use the proceeds to make fixed-rate loans.

e. Buying inverse floaters

This assignment consists of two (2) sections: a business requirements document and a project plan. You must submit both sections as separate files for the completion of this assignment. Label each file name according to the section of the assignment it is written for. Additionally, you may create and / or assume all necessary assumptions needed for the completion of this assignment.

The use of specific software has been suggested however equivalents including but not limited to OpenOffice, Dia, and Open Project are also permitted. If equivalent tools are used, files must be saved and submitted for grading using extensions that are readable by their equivalent Microsoft Windows edition. Assignment submissions that fail to follow this request may result in a reduced grade.

Procuring quality business requirements is an important step toward the design of quality information systems. Completion of a quality requirements document allows user needs and expectations to be captured, so that infrastructure and information systems can be designed properly. Your company, which is a data-collection and analysis company that has been operating less than two (2) years, is seeking to create a repository for collected data beyond standard relational databases. Your ten (10) terabyte data warehouse is expected to grow by 20% each year. You are mindful of data warehousing best practices which will aid you immensely in your requirements gathering effort. Using the requirements document provided in the course shell, you are to speculate on the needs of the company. You must consider current and future requirements; however, assumptions should be realistic and carefully considered.

Section 1: Business Requirements Document

· Write a four to six (4-6) page original business requirements document for the project plan using the template provided. Note: The template is provided under Additional Resources in the Student Center tab of the online course shell.

· Describe the project including the following:

· Describe and define the scope of the project.

· Speculate as to how to control the scope.

· Identify possible risks, constraints, and assumptions.

· Describe the relationship and integration between systems and infrastructure. Note: Database and Data Warehousing, Analytics, Interfaces and Cloud Technology, and Infrastructure and Security should be considered.

· Speculate upon potential outsourcing or offshoring needs.

· Identify and justify the necessary resources including staffing that are necessary.

· Define relevant terms that will be used throughout project.

· Use at least two (2) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.

Section 1 of your assignment must follow these formatting requirements:

· Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

· Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

Section 2: Revised Project Plan

Use Microsoft Project to:

· Update the project plan from Project Deliverable 1: Project Plan Inception, with three to five (3-5) new project tasks each consisting of five to ten (5-10) sub-tasks.

The specific course learning outcomes associated with this assignment are:

· Evaluate an organization through the lens of non-IT senior management in deciding how information systems enable core and supportive business processes as well as those that interface with suppliers and customers.

· Use technology and information resources to research issues in information systems.

· Write clearly and concisely about strategic issues and practices in the information systems domain using proper writing mechanics and technical style conventions.

Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric

How congruent the design elements are with the theme of the movie.This position is located in the Office of the Deputy Director, Consumer Affairs Office. The incumbent provides technical and administrative support to the Consumer Affairs Specialist. Assist in serving as the liaison between the medical center, patients and staff, and the community regarding patients’ rights and advocacy. The incumbent provides a channel through which patients can seek solutions to problems, concerns and needs. Duties include but are not limited to:

– Investigates the complaints, notifies involved services and where appropriate, works with services to develop actions to correct situations.

– Reports to patient or representatives on measures taken and monitors effectiveness of action.

– Composes reports of contact describing the complaints and researches and analyze data.

– Explains the medical center’s mission, policies procedures and available services to patients.

– Participates in maintaining an effective guest relations program.

– Performs work involving the collections, compilation, and/or tracking of data and statistical information related to the various programs and projects assigned.

– Assists in facilitating medical emergency treatment by gathering and providing social, financial and previous medical history to medical staff.

– Produces on a regular basis a cumulative report which will include categorization of patient inquiries.

– Receives incoming correspondence and telephone calls for office personnel.

– Requisitions office supplies, equipment, and publications.

– Maintains office files and records of all patient inquiries.

– Performs other related duties as assigned

Select a movie from AFI’s 10 Top 10 lists and explain how three cinematic techniques and/or design elements have helped establish a major theme in that film. Note: While you are allowed to choose a film that does not come from the AFI lists, you are strongly encouraged to email your professor to receive approval before doing so.

In 800 to 1200 words

Describe a major theme of the movie you have selected using evidence from the movie itself as well as course resources and other scholarly sources to support your position.
Identify at least three techniques (cinematography, lighting, acting style, or direction) and/or design elements (set design, costuming, or hair and makeup), and explain how these techniques and/or design elements contribute to the establishment of the theme. Reference particular scenes or sequences in your explanations.
State your opinion regarding the mise en scène, including
How the elements work together.
How congruent the design elements are with the theme of the movie.
Whether or not other techniques would be as effective (Explain your reasoning).

Note: Remember that a theme is an overarching idea that recurs throughout the plot of a film. It is the distilled essence of what the film is about, the main design which the specific scenes and actions lead a viewer to understand.

Your paper should be organized around a thesis statement that focuses on how the elements of your chosen feature-length film both establish and maintain one of its major themes.

The paper must be 800 to 1200 words in length and formatted according to APA style as outlined in the Ashford Writing Center.

You must use at least two scholarly sources other than the textbook to support your claims. Refer to the ENG225 Research Guide in the Ashford University Library for guidance and to locate your sources. Cite your sources (including the feature-length film) within the text of your paper and on the reference page. For information regarding APA, including samples and tutorials, visit the Ashford Writing Center.

Please note that if you opt to write about the same film in your Final Film Critique, applicable pieces of this assignment can be used to write that assignment. Please a

Select a movie from AFI’s 10 Top 10 lists and explain how three cinematic techniques and/or design elements have helped establish a major theme in that film. Note: While you are allowed to choose a film that does not come from the AFI lists, you are strongly encouraged to email your professor to receive approval before doing so.

In 800 to 1200 words

Describe a major theme of the movie you have selected using evidence from the movie itself as well as course resources and other scholarly sources to support your position.
Identify at least three techniques (cinematography, lighting, acting style, or direction) and/or design elements (set design, costuming, or hair and makeup), and explain how these techniques and/or design elements contribute to the establishment of the theme. Reference particular scenes or sequences in your explanations.
State your opinion regarding the mise en scène, including
How the elements work together.
How congruent the design elements are with the theme of the movie.
Whether or not other techniques would be as effective (Explain your reasoning).

Note: Remember that a theme is an overarching idea that recurs throughout the plot of a film. It is the distilled essence of what the film is about, the main design which the specific scenes and actions lead a viewer to understand.

Your paper should be organized around a thesis statement that focuses on how the elements of your chosen feature-length film both establish and maintain one of its major themes.

The paper must be 800 to 1200 words in length and formatted according to APA style as outlined in the Ashford Writing Center.

You must use at least two scholarly sources other than the textbook to support your claims. Refer to the ENG225 Research Guide in the Ashford University Library for guidance and to locate your sources. Cite your sources (including the feature-length film) within the text of your paper and on the reference page. For information regarding APA, including samples and tutorials, visit the Ashford Writing Center.

Please note that if you opt to write about the same film in your Final Film Critique, applicable pieces of this assignment can be used to write that assignment. Please also note that you should reflect on and revise this assignment based on the instructor’s feedback before you incorporate it into the Final Film Critique

Use the Internet to research instances of whistleblowing in publicly traded companies within the last 12 months.

Write a two to three (2-3) page paper in which you:

1. 1-Describe the key characteristics of a whistleblower, and briefly summarize one (1) researched instance of whistleblowing in one (1) publicly traded company within the last 12 months. Include the details of the issue that the whistleblower reported and the effect of the whistleblower’s actions on both the whistleblower himself and the company.

2. -Decide whether or not the whistleblower was justified in reporting the company’s actions. Provide a rationale for your response.

3. -Examine the extent to which the whistleblower would be protected under the Sarbanes-Oxley Act. Justify your response.

4. -Use at least two (2) quality resources in this assignment. Note: Wikipedia is not an acceptable reference and proprietary Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

· Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA

Ever since the financial crisis of 2008/2009 banks and others lenders have been skeptical about lending money due to the uncertainty of consumers paying back the loans. Gen Y-or the Millennial’s-are the primary victims of the financial crisis and the following economic decisions made by government and financial institutions following the “Great Recession” didn’t help this generation either. Now as the economy is starting to get a little better (don’t count it as being back just yet!), Millennial’s are starting to get married, getting careers and growing up! You are a marketer for a major financial institution and have just read an article on the relationship between millennials and their money. Now it is your task to turn the economy around by marketing to the Millennial’s

After clicking on the below link and reading the article, please answer the following questions:

Millennial’s and Banking

1. Do you think that the views expressed here for this generation would also be similar across other industries (other than banking)?

2. Using the information from Chapters 4 and 5, the above article and your general knowledge, develop a segment profile (a description of the segment and their needs) for the Millennials.

In your final paper for this course, you will need to write a Methods section that is about 4 pages long where you will assess and evaluate the methods of research.

In preparation for this particular section, answer the following questions thoroughly and provide justification/support. The more complete and detailed your answers for these questions, the better prepared you are to successfully write your final paper.

Please submit your answers as a single 4- to 6-page document as a numbered list; this will ensure you do not inadvertently miss a question.

Additionally, please submit a title page and a reference page in proper APA format.

What is your research question?

What is your hypothesis or hypotheses? What is the null hypothesis?

How many participants would you like to use and why? What are the inclusion characteristics, i.e., what must they have in order to be included in your study (for example, gender, diagnosis, age, personality traits, etc.)? Are there any exclusion characteristics, i.e. are there certain characteristics that would exclude them from being in your study? Does the sample need to be diverse? Why or why not?

What sampling technique will be used to collect your sample? What population does your sample generalize to?

What are the variables in your study? HINT: Refer back to your hypothesis or hypotheses.

Provide operational definitions for each variable.

How will you measure each variable? Discuss the reliability and validity of these measures in general terms.

What technique will be used for data collection (e.g., observation, survey, interview, archival, etc.)?

What type of research design is being used?

Briefly discuss the procedure that would be followed when conducting the research.

What are some POTENTIAL ethical issues? How might they be addressed?

Read the “Midas” case study in Chapter 2 of your text and respond to the guided response below in a three double spaced paper in accordance with APA guidelines as outlined in the Ashford Writing Center.. In this paper you must:

Discuss the anticipated impacts (both positive and negative) upon operating efficiencies, and recommend solutions to minimize the negative impacts.
Discuss whether or not operating practices should be changed to accommodate the tune-ups. Be sure to explain your reasoning.
Examine the reasons why input should be gathered from the shop owners.
Discuss the type of input that should be gathered.
Describe the processes and steps needed to launch this new program

Your paper should be in paragraph form (avoid the use of bullet points) and supported with the concepts outlined in additional scholarly sources

Submit your three double spaced-page paper (not including the title and reference pages). Your paper must be formatted according to APA style as outlined and must cite at least four scholarly sources

Accountants are responsible for following standards, conventions, and rules in order to ensure ethical reasoning in their day-to-day practices. However, the rules in the United States vary from those followed in other countries.

Based on your readings for this week:

Discuss the differences between GAAP and IFRS:

What are implications of the differences in financial reporting?

What are two advantages and two issues with each?

With these thoughts in mind:

Post an initial statement that expresses your thoughts on the differences between GAAP and IFRS