Finance - 4387 Words

SEAT NUMBER: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦ ROOM: .†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. FAMILY NAME.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.....†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. This question paper must be returned. Candidates are not permitted to remove any part of it from the examination room. OTHER NAMES†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦.. STUDENT NUMBER†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. MID-YEAR EXAMINATIONS 2011 Unit: ACCG252: Applied Financial Analysis and Management Date: Tuesday 14th June 2011 at 8:50am Time Allowed: 3 hours plus 10 minutes reading time. Total Number of Questions: 30 Multiple Choice Questions plus 9 full response questions. Instructions: 1. PART A (30 marks): There are 30 multiple choice questions. Answers to these must be recorded on a red-coloured General Purpose Answer Sheet which will be marked by a computer. Please make sure your name is on†¦show more content†¦The firm has no preference shares. The current debt-to-equity ratio is 0.58 and the after-tax cost of debt is 6.4%. The company just hired a new CEO who is considering eliminating all debt financing. All else constant, what will the firms cost of capital be if the firm switches to an all-equity firm? A. 14.14% B. 13.37% C. 12.62% D. 12.89% E. 11.45% 9. Which one of the following statements is accurate for a levered firm? A. A reduction in the risk level of a firm will tend to decrease the firms WACC. B. An increase in the market risk premium will decrease a firms WACC. C. WACC should be used as the required return for all proposed investments. D. A firms WACC will decrease whenever the firms tax rate decreases. E. The subjective approach totally ignores a firms own WACC. 5(34) 10. Assume that you are comparing two firms which are identical, with one exception. Firm A is an all-equity firm and Firm B has a debt-to-equity ratio of 0.60. All else equal, Firm A will: A. have lower EPS than Firm B when the level of EBIT is relatively low B. generate a lower EBIT, but higher net income than Firm B C. always have higher EPS than Firm B, since it has no interest expense D. have lower EPS than Firm B when the level of earnings before interest and taxes (EBIT) is relatively high E. generate a higher EBIT, but lower net income than Firm B 11. Yamba Prawns Limited has justShow MoreRelatedFinance1352 Words   |  6 Pagesfinancial manager differ from the traditional financial manager? Does the modern financial managers role differ for the large diversified firm and the small to medium size firm? The traditional financial manager was generally involved in the regular finance activities, e.g., banking operations, record keeping, management of the cash flow on a regular basis, and informing the funds requirements to the top management, etc. But, the role of financial manager has been enhanced in the todays environment;Read MoreFinance1074 Words   |  5 PagesCORPORATE FINANCE COURSE CORPORATE FINANCE 2.1 Working Capital Management Sept. 2014 Ir Frank W. van den Berg mba Vrije Universiteit, Amsterdam ALYX Financial Consultancy bv, Aerdenhout FWvdB/2014 1 OUTLINE CORPORATE FINANCE FWvdB/2014 †¢Ã¢â‚¬ ¯ Basics Guiding principles †¢Ã¢â‚¬ ¯ Time value of money + Capital Budgeting †¢Ã¢â‚¬ ¯ Valuation of CF + Bonds †¢Ã¢â‚¬ ¯ Valuation of shares (+ co.’s) †¢Ã¢â‚¬ ¯ Financial Analysis (Ratios) †¢Ã¢â‚¬ ¯ Financial Planning (EFN) †¢Ã¢â‚¬ ¯ à  Ã¯Æ'   Working Cap. Mgt. (A/R,Read MoreThe Finance1054 Words   |  5 Pagesrequires intentional short-term and long-term planning. More importantly, in order for capital management to be deemed successful, it is required that all members of an organization are on board. â€Å"Capital budgeting is not only important to people in finance or accounting, it is essential to people throughout the business organization†lt; /spangt; (Block, Hirt, amp; Danielsen, 2011). As the duration of the investment period increases, and the size of investment increases, the residual risk also increasesRead MoreEquity Finance And Debt Finance823 Words   |  4 PagesStockholders are those entities who provide a company with the risk capital such as preference share owners and ordinary share owners (Freeman and Reed, 1983). Generally, stockholderis one of long-term finance providers with the aim to maximize their wealth.According toBrickleyet al. (1985), long-term finance provi ders are more likely to focus on the matter whether the financial structure in the company is sound or not and the durability of profitabilityrather than temporary profits that a potentiallyRead MoreFinance, Economics, And Finance Essay1245 Words   |  5 Pagesalso studied business, management, economics, and finance. These courses impressed upon me the importance of the financial sector in the economy. Finance professionals have the unique responsibility of managing assets and analyzing risks to ensure the future success of a company or organization. It is difficult to overstate the importance of this role, as the financial crisis of 2009 showed. It is due to my understanding of the importance of finance and investment, coupled with my longstanding interestRead MoreFinance : Finance A Carry Trade1144 Words   |  5 PagesIn finance a carry trade is a strategy that consists of borrowing at a low interest rate currency to fund investment in higher yielding currencies. (Moffett) Th e country in which the investors borrow from is called the funding country and the country where the investment occurs is called the target country. (4) Carry trade is also termed currency carry trade; this strategy is speculative in that the currency risk is present and not managed or hedged. (Moffett) Although there are several complicatedRead MoreFinance, Banking And Finance Industry2170 Words   |  9 Pagescomplete your transaction and move on with your day. The last thing on your mind is how that transaction is taking place. You don’t care what happens behind the scenes as long as your money is where it needs to be and is safe. As the banking and finance industry has transformed, so has the process of how your money is handled. To accompany those changes, regulators and lawmakers create laws designed to protect consumers, banks, and the economy as a whole. As you will learn, the history of the bankingRead MoreFinance : Finance A Carry Trade Essay1144 Words   |  5 Pages In finance a carry trade is a strategy that consists of borrowing at a low interest rate currency to fund investment in higher yielding currencies. (Moffett) The country in which the investors borrow from is called the funding country and the country where the investment occurs is called the target country. (4) Carry trade is also termed currency carry trade; this strategy is speculative in that the currency risk is present and not managed or hedged. (Moffett) Although there are several complicatedRead MoreFinance998 Words   |  4 PagesPlant Improvements Total Investments: total investment in plant and equipment brought forward from the Production spreadsheet. Sales of Plant and Equipment : total sales of plant and equipment brought foraad from the Production spreadsheet. Common Stock * Shares Outstanding: The number of shares of common stock in the hands of shareholders. Reflect any issue/ retire stock transaction at the beginning of this year * Price Per Share: stock price as of yesterday’s close. Stock will be issuedRead MoreInternal Sources Of Finance And Finance Essay2349 Words   |  10 PagesInternal sources of finance: Internal sources of finance are funds that arise from within the business such as profits as they can be retained to grow the finance and selling assets. Retained profit Retained profit is the money kept in the company after paying dividends. It is used to reinvest in the business or to pay debt. It comes by a business after it makes profit and is kept separate to use in other ways such as expanding the business by developing new buildings or certain areas, buying new

Two Reviews of Angela Davis Free Essays

Two Reviews of Angela Davis’ Women Race and Class (1983) By: Brittany Turnbull I. The Reviews a. Amy Winter [Women Race and Class] Off Our Backs, January-February Issue (2005) pp48-49 b. We will write a custom essay sample on Two Reviews of Angela Davis or any similar topic only for you Order Now Ann Russo [Book Review]Women Studies International Forum, Volume 6, Number 2 (1983) pp249 II. Summary of Reviews a. Winter, Off Our Backs The reviewer focused on the different parts of history of the African American woman as well as the history of all women as a whole. She broke up the review by discussing each chapter to coincide with Davis’ break up of her book and focused on the important details of each chapter that she found Davis had brought out. Winter doesn’t offer much opinion within her review because she mainly sticks to the fact that the book is written about oppression of African American women and African American people and she mainly describes exactly what Davis wrote. However, Winter did offer some criticism when Davis had written about how women working in the factories and doing hard labor was more interesting than doing house work. Winter found that there was no difference because either way something needed to be cleaned. One just reaped the benefits of a paycheck while the other did not. This was a good and thorough review because not only did it look at the whole book but it looked at each individual chapter and the main points within each chapter. b. Russo, Women Studies International Forum There is a different approach to this review because it is basically an analysis of what Davis’ theme or overall meaning of the book was. Russo described the book in the sense that the book wasn’t about oppression of Black women or Black people. It was about comparing the Black women to White women the overall sexist oppression that they both had to overcome and still are overcoming. Russo described this book as a being a feminist book about feminism as a whole and the revolution of all women. There was no discussion about the history of oppression that Black women had to live with over time or anything along those lines. There was not mention of historical figures as well. This review was good in the sense that it was an analysis of the overall idea of the book, however I feel that Russo was completely wrong in her analysis. She failed to realize the exact struggles and the exact differences between White and Black women. She also failed to realize that the use of White women within the text was to compare how much more difficult Black women had had it over White women in terms of the sexual and racial discrimination that Black women have had to encounter and attempt to overcome throughout history. How to cite Two Reviews of Angela Davis, Papers

Management In Hospitality Service Quality †Myassignmenthelp.Com

Question: Discuss About The Management In Hospitality Service Quality? Answer: Introduction Business organisations are in the market to sell their products to customers to satisfy their needs(Bateson, 2010). Business firms sell two types of products. Goods are the tangible products which can be physically touched and purchased by the customers. However, services are experiences which are purchased but cannot be seen and touched(Looy, 2013). Therefore, service providers need to give certain additional tangible cues or evidences to the customers to make them aware of the service delivery(Ennew, 2013). The following analysis trues to assess the physical evidences created by two competing hotel groups; Marriot and Hilton through their websites. The analysis also tries to assess which of these companies does a better job of creating tangible evidence. Comparison of Tangible Evidence created by Marriott and Hilton Group of Hotels through their website Services are different from goods because they are intangible, homogenous and inseparable from the owner or the service provider (Fisk, 2013). Due to the intangibility of services, customers and service providers rely on tangible cues or evidences to judge the service before purchasing. These tangible cues can be design, logo, tagline, any exterior design or any physical attribute of the service like its features, colour or any other quality (Lovelock, 2012). Billing summary can also be considered as physical evidence of the service. In other words, physical evidence is the environment of the service delivery(Mudie, 2013). Physical or tangible evidence is very important as it gives credibility to the delivery of the intangible service. Hospitality industry is a part of service industry as customers pay for the experience of staying in a hotel and not for the hotel itself(Evans, 2015). Service experience of a hotel includes the experience of its interiors, exteriors, ambiance, food and the hospitality offered by staff(Mohinder-Chand, 2016). Hotel industry uses many cues as a way to convince the customer about service quality(Ford, Sturman, Heaton, 2011). Infrastructure design and hotel ambiance related cues are main service evidence cues that hoteliers use(Wirtz, 2012). However, with the advent of digital technology, information available on the website of the hospitality company is also becoming a major source of tangible evidence cues for the customer(Mok, Sparks, Kadampully, 2013). Therefore, it would be interesting to contrast the tangible evidence provided by two competing hotels through their website. Marriott hotels and resorts is a flagship brand of Marriott International(Marriott, 2017). The company is headquartered in Washington DC. Marriott international started its hoteling journey in 1956 and now has around 546 hotels and resorts across the globe(Marriott, 2017). The hotel group functions in the luxury hotel segment and has a number of full service hotels in different global locations. Hilton Hotels and Resorts is a global hotel company(Hilton, 2017). The company was founded in 1919 and has a huge brand recall across the globe. The firm is headquartered in McLane Virginia, USA and has more than 570 hotels and resorts across the globe(Hilton, 2017). Like Marriott, Hilton hotel also functions in the luxury hotel and resort segment and offers high end luxury stay to its customers, Both Marriott and Hilton are competitors in full service luxury hotel segment of the hospitality industry(Mok, Sparks, Kadampully, 2013). Both these hotel chains are renowned for quality. As the firms operate in service industry and offer a service experience which is intangible, homogenous and inseparable, they have to provide tangible cues to make the customer aware of their service quality.(Mok, Sparks, Kadampully, 2013). Tangible evidence helps in convincing the customer of the service quality and its actual attributes. Importance of physical evidence arises from the triple attribute of the service experience(Evans, 2015). These triple attributes are that services are intangible, inseparable and homogenous. Customers cannot actually touch, own or differentiate between basic service provides(Hoffman Bateson, 2010). They can only experience the service. These triple attributes of services make it necessary for the service provider to generate differences through service quality(Fisk, 2013). The service provider also needs to make customer understand these services through tangible cues. Marriott Hotels provide a catalogue of its various hotel locations on its website by way of physical evidence cues(Marriott, 2017). Website of Marriott hotels has pictures of a beautiful hotel location on its home page as a proof of its external ambiance(Marriott, 2017). This helps customer to get an understanding of the style of hotels external dcor. Marriott hotel also has its Logo on the home page(Marriott, 2017). The logo provides a powerful brand recognition and recall for any organisation(Evans, 2015). Therefore, Marriott hotel group tries to convince its customers by creating trust through the brand power generated by a logo Marriott hotels have a separate tab on the website for deals and packages where different packages for customers are described in detail(Marriott, 2017). Packages contain holiday or business travel, packages inclusive of taxi and flight booking etc. The package details can be downloaded or can be provided through email by creating an account with Marriott(Marriott, 2017). These details create a tangible evidence for Marriot hotels because they come as a proof of service delivery and promise of quality of service. The Marriott hotel website also has pictures and details of various types of events like weddings, conventions and meetings that have been held at the hotel in the past(Marriott, 2017). Therefore, people who want to host events in the hotel can also get tangible evidence of service quality and nature of service delivery(Marriott, 2017). By looking at these past details customers can easily understand what to expect from the hotel service. The hotel also has a contact tab from where the customers can contact the hotel and get detailed brochures and other details in written and oral format(Marriott, 2017). This also acts as tangible evidence and gives tangibility to service delivery. However, as compared to Marriott hotel the website of Hilton hotel has a more attractive website layout (Hilton, 2017) . Website attractiveness adds to the tangible element of the service as the customer feels more comfortable about the service if he finds the tangible evidence attractive(Bateson, 2010). On the home page of Hilton hotels website, there are different tabs which help the customer to navigate through the website(Hilton, 2017). There is a huge catalogue with pictures of various Hilton hotel and resort locations(Hilton, 2017). These pictures along with their details can be downloaded and cross checked(Hilton, 2017). Therefore, these details act as powerful tangible cues. The website of Hilton hotel also provides detail of restaurants that are available in various hotels(Hilton, 2017). The pictures give an image of luxury, comfort and good ambiance which is a major service element of Hilton(Hilton, 2017).Additionally, Hilton hotels accurately creates an image of luxury hotel stay through the catalogue of resorts, hotels and restaurants. Hatton hotel website also has evidences of different deals and offers which the company has for various segments of the customers(Hilton, 2017). For example, there are seasonal discounts for travellers who aspire for a five star luxury life style but cannot afford it(Hilton, 2017). There are deals for newlywed couples, meetings and conventions(Hilton, 2017). These offers provide tangible cues regarding the service delivery in a specific situation. Additionally, there are various entertainment and add on services like taxi service, flight bookings, cruise parties etc. which are mentioned on the web site which provide an additional evidence of sensitivity of the hotel for customers comfort(Hilton, 2017). Therefore, Hilton hotel tries to generate service evidence through the website which can generate trust and convince the customer about quality of service delivery. On comparison of the websites of Hilton and Marriott hotels, it can be observed that both competing hotel groups try to project the picture of best service provider through their websites. Both websites give descriptions of hotel rooms, services, various events and deals. However, Hilton hotel has done a better job of projecting the physical and tangible evidences through their website (Hilton, 2017). Hilton hotel has a more attractive and easily navigable website (Hilton, 2017). The catalogue of Hilton hotel contains many more details about the hotels and resort locations as compared to Marriott hotel. Marriott hotel website does not look very attractive at first glance. Additionally, Menu tab is separate and at first look is not very visible(Marriott, 2017). This may lead to frustration of the customer. However, Marriott hotel gives better description of events and other offers in the hotel(Marriott, 2017). This can create better trust for the customer. However, compared to the number of pictures put by Hilton they need to improve. Therefore, Hilton hotel does a better job in creating tangible evidence of service through their website. Conclusion Tangible evidence helps to generate tangibility in service delivery. Both Hilton and Marriott successfully create tangible evidence through various features of their website. However, on the basis of attractiveness of the website, Hilton has the upper hand. References Bateson, J. E. (2010). Services Marketing. NewYork: South-Western Cengage Learning,. Ennew, C. (2013). Financial Services Marketing: An International Guide to Principles and Practice. New York: Routledge. Evans, N. (2015). Strategic Management for Tourism, Hospitality and Events. New York: Routledge. Fisk, R. P. (2013). Services Marketing Interactive Approach. NewYork: Cengage Learning. Ford, R., Sturman, M., Heaton, C. (2011). Managing Quality Service In Hospitality: How Organizations Achieve Excellence In The Guest Experience. New York: Cengage Learning. Hilton. (2017). Home. Retrieved September 18, 2017, from www.hilton.com Hoffman, K., Bateson, J. (2010). Services Marketing: Concepts, Strategies, Cases. London: Cengage Learning. Looy, P. E. (2013). Service Management: An integrated approach. Harlow: Pearson Education Limited. Lovelock, C. (2012). Services Marketing : People, Technology, Strategy. New Delhi: Pearson Education India. Marriott. (2017). Home. Retrieved Septemner 18, 2017, from https://www.marriott.com/ Mohinder-Chand, D. (2016). Opportunities and Challenges for Tourism and Hospitality in the BRIC Nations. hARSHEY: IGI Global. Mok, C., Sparks, B., Kadampully, J. (2013). Service Quality Management in Hospitality, Tourism, and Leisure. New Y0ork: Routledge. Mudie, P. (2013). Services Marketing Management. New York: Routledge. Wirtz, J. (2012). Essentials of Services Marketing. New Jersey: FT Press.