Mergers and Acquisitions M&A

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Mergers and Acquisitions M&A

As part of the financial planning process, a common practice in the corporate finance world is restructuring through the process of mergers and acquisitions (M&A). It seems that on a regular basis, investment bankers arrange M&A transactions, forming one company from separate companies. What are the advantages and disadvantages of a merger? In your response, provide an example of either – a merger that was successful, or one that was unsuccessful.

Write a paper of 800 content words (title page, abstract, and reference page not included).
Prepare this assignment according to the APA guidelines, including a title page, an introduction, and a conclusion. An abstract is not required. Cite in text and include a References section. A template is included in the assignment.
In your report, make certain that you include at least three credible outside references from search engines or scholarly sources from the  Online Library.

How generally accepted accounting principles GAAP affect financial reporting

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How generally accepted accounting principles GAAP affect financial reporting

Answer questions about accounting theory and merchandising accounting.

Introduction

A legal firm’s operations are different than Ford or GM operations. Lawyers provide a service whereas Ford is a manufacturing business that needs to maintain an inventory of various parts used in their vehicles. Each requires its own accounting approach.

We now delve into accounting theory in greater depth. Now that you have learned some accounting procedures, you are better able to relate these theoretical concepts to accounting practice. Accounting theory is a set of basic concepts, assumptions, and related principles that explain and guide the accountant\’s actions in identifying, measuring, and communicating financial information.

Your study of accounting began with service companies as examples because they are the least complicated type of business. You are now ready to apply the accounting process to a more complex business type: a merchandising company. This type of company is represented by manufacturers, wholesalers, and retailers.

Overview

This assessment focuses on accounting assumptions, concepts, principles, modifying conventions, objectives, qualitative characteristics, accounting policies, and the income statements for service and merchandising organizations. It requires knowledge of the following:

  • The effects of accounting assumptions on the accounting process.
  • The effects of accounting concepts on the accounting process.
  • How generally accepted accounting principles (GAAP) affect financial reporting.
  • The impact of modifying conventions on the accounting process.
  • How accounting objectives, qualitative characteristics, and policies affect financial reporting.
  • The differences and similarities between income statements for service and merchandising organizations.
  • The methods used to determine the amount of merchandise inventory on hand.
  • How to use the gross margin percentage as a tool for financial analysis.

Preparation

  • Complete the Assessment 4 Template [DOCX].
  • Review all suggested readings.

Note: Accuracy in accounting is paramount so take your time and double-check your work for errors or omissions.?

Instructions?

Answer questions correctly. When you are satisfied with your responses, save and submit your template in the classroom.

Step 1: Discuss the effects of the five major accounting assumptions on the accounting process.

Step 2: Describe the five concepts\’ impact on the accounting process.

Step 3: Describe the five major accounting principles.

Step 4: Describe the impact on the accounting process of the three modifying conventions.

Step 5: Identify the accounting procedures of Principles, Assumptions, Concepts.

Step 6: Complete the equations of merchandising accounting.

Step 7: Describe the two methods used to determine merchandise inventory.

Effects of accounting concepts on the accounting process

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Effects of accounting concepts on the accounting process

Answer questions about accounting theory and merchandising accounting.

Introduction

A legal firm’s operations are different than Ford or GM operations. Lawyers provide a service whereas Ford is a manufacturing business that needs to maintain an inventory of various parts used in their vehicles. Each requires its own accounting approach.

We now delve into accounting theory in greater depth. Now that you have learned some accounting procedures, you are better able to relate these theoretical concepts to accounting practice. Accounting theory is a set of basic concepts, assumptions, and related principles that explain and guide the accountant\’s actions in identifying, measuring, and communicating financial information.

Your study of accounting began with service companies as examples because they are the least complicated type of business. You are now ready to apply the accounting process to a more complex business type: a merchandising company. This type of company is represented by manufacturers, wholesalers, and retailers.

Overview

This assessment focuses on accounting assumptions, concepts, principles, modifying conventions, objectives, qualitative characteristics, accounting policies, and the income statements for service and merchandising organizations. It requires knowledge of the following:

  • The effects of accounting assumptions on the accounting process.
  • The effects of accounting concepts on the accounting process.
  • How generally accepted accounting principles (GAAP) affect financial reporting.
  • The impact of modifying conventions on the accounting process.
  • How accounting objectives, qualitative characteristics, and policies affect financial reporting.
  • The differences and similarities between income statements for service and merchandising organizations.
  • The methods used to determine the amount of merchandise inventory on hand.
  • How to use the gross margin percentage as a tool for financial analysis.

Preparation

  • Complete the Assessment 4 Template [DOCX].
  • Review all suggested readings.

Note: Accuracy in accounting is paramount so take your time and double-check your work for errors or omissions.?

Instructions?

Answer questions correctly. When you are satisfied with your responses, save and submit your template in the classroom.

Step 1: Discuss the effects of the five major accounting assumptions on the accounting process.

Step 2: Describe the five concepts\’ impact on the accounting process.

Step 3: Describe the five major accounting principles.

Step 4: Describe the impact on the accounting process of the three modifying conventions.

Step 5: Identify the accounting procedures of Principles, Assumptions, Concepts.

Step 6: Complete the equations of merchandising accounting.

Step 7: Describe the two methods used to determine merchandise inventory.

Debt-to-equity ratio current ratio quick ratio return on equity and net profit margin

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Debt-to-equity ratio current ratio quick ratio return on equity and net profit margin

Write a research paper on the following:
Select a publicly-traded company that is traded on U.S. exchange. Locate the annual report for at least the last three fiscal years.
Analyze the financial statements for the company and review for large movements in specific accounts from one year to the next. In addition, review the
notes to the financial statements as these are an integral part of the financial reporting package. Evaluate the balance sheet to determine if there are large
changes in the company’s assets, liabilities, or equity accounts. In addition, analyze the income statement and statement of cash flows.
At a minimum, calculate the following ratios for two years, the debt-to-equity ratio, current ratio, quick ratio, return on equity, and net profit margin. For each
ratio, explain what the ratio tells you about the company.
The research paper must have a minimum of 2-3 pages (excluding the title and reference page) and be formatted in APA 7th edition.

Prada’s Hong Kong IPO – A case study

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Prada’s Hong Kong IPO – A case study

The assignment is based on the following documents ? A case study: ‘Prada’s Hong Kong IPO’ ? Prada IPO prospectus ?

An Excel file containing daily share price of Prada from its IPO to June 2014 (1913.HK shareprice) ?

Prada’s Annual Report 2013 Read the above documents and the IPO book (e-copy available on Blackboard) to answer the following questions.

You may wish to use external references/material from credible sources (such as financial press, journal articles):

(i) An IPO marks a strategic milestone for a company.

(a) What may have motivated Prada (Stock code ‘1913’) to go public?

(b) Why do you think Prada chose to list on the Hong Kong Stock Exchange? Were there any downsides of a Hong Kong listing?

(c) Why do you think Prada chose to conduct its IPO in 2011?

(d) What can you say about the primary and secondary shares sold in the Prada IPO? How did Prada plan to use the proceeds of the IPO? (16 marks)

(ii) What is an IPO over-allotment (Greenshoe) option? Describe the over-allotment option included in Prada’s IPO? (7 marks)

(iii) The underwriting investment bank takes on a central role in the IPO process.

(a) What are the key tasks executed by the underwriter?

(b) What are primary considerations when selecting an underwriter? January 2021 SEMESTER – ASSIGNMENT QUESTIONS Page 2 of 3

(c) Often, multiple underwriters are involved. In the case of Prada, a syndicate of 4 underwriters was involved in the IPO. What are the main motivations for syndication?

(d) How much compensation was paid to the underwriters of Prada? How does it compare to the average compensation paid to underwriters in US IPOs?

(e) What do you understand by ‘price-stabilization’ activities conducted by the underwriter(s)? Do you think the underwriters were involved in price-stabilization of the Prada IPO? (25 marks)

(iv) Describe what happens during ‘book-building’ of an IPO. What price range was used for book building of the Prada IPO? Why do you think Prada priced its offering at the bottom end of the book-building range? (10 marks)

(v) Without conducting a formal valuation analysis and based on the information given in the case study and the IPO prospectus, discuss the pricing of the Prada IPO. Would you have invested in Prada at this price? (10 marks)

(vi) What are IPO lock-up agreements? Describe the lock-up agreement of the Prada IPO. How was the Prada lockup agreement different from that of other markets such as the US? (10 marks)

(vii) The diagram below shows the performance of Prada shares from June 2011 to June 2014. The first day of public trading of Prada’s shares was 24 June 2011. Shares were sold in the IPO at an offer price of HK$ 39.50. More information on daily share price movements is available in the Excel file (1913.HK shareprice). Source: Yahoo Finance 0.00 0.00 10.00 10.00 20.00 20.00 30.00 30.00 40.00 40.00 50.00 50.00 60.00 60.00 70.00 70.00 80.00 80.00 90.00 90.00 Prada\’s share price performance (HK $) Prada\’s share price performance (HK $) January 2021 SEMESTER – ASSIGNMENT QUESTIONS Page 3 of 3 Based on a visual examination of the chart above, how does the performance of the Prada IPO compare with average IPO performance documented by past empirical studies i. in terms of the short term (1st trading day or the first week of trading)? ii. and over the longer term (3 years)? Past studies have suggested a number of explanations for short-run underpricing and long-run underperformance of IPOs. Discuss the ones which you think are relevant to Prada’s case? (12 marks) (viii) In the light of the main theories of capital structure, provide a discussion of the evolution of the capital structure of Prada in the initial three years after its IPO. You will find Prada’s Annual Report 2013 helpful in answering this question. (10 marks)

Feasibility Study Assessment – need help in this topic?

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Prepare a feasibility study based on a scenario of your choice.

Scenario

You have been asked by the CEO of your organization to propose a project or program to address a specific need, and to develop a feasibility study to determine if the proposed project or program should be undertaken.

Your Role

You are a department leader in the organization.

Example Assessment: You may use the following to give you an idea of what a Proficient or higher rating on the scoring guide would look like:

Assessment 3 Example [PDF].
Requirements

Complete each section of the feasibility study as completely as possible, and support with relevant evidence. The length of your feasibility study will depend largely on the project or program you are proposing to address the need of your organization. Be sure that each section is fully addressed.

Your feasibility study should:

Provide relevant information on the organization (Section I).
Analyze the objectives of the proposed program (Section II).
Explain why you are proposing the program.
Where does it fit within the organization?
What systems will be affected by it?
What systems issues will it address?
Explain how both patients and the organization will benefit from implementing the proposed program.
Provide evidence that the program is needed.
Explain the value of the program (Section III).
How well does it align to the organization’s mission?
How well does it fit with existing programs and services?
Do competitors offer something similar? If so, how will your program give your organization a competitive advantage?
Analyze the potential financial and economic issues of implementing the program (Section IV).
Identify any economic issues that could affect the success of the program.
Explain how your program could affect the local economy (both positively and negatively).
Identify possible funding sources.
Estimate the cost of implementing and maintaining your program.
Analyze the marketing issues associated with your program (Section V).
Explain how your program may affect the existing marketing approach.
Explain how your program will meet the needs of the target market demographic.
Explain how you will differentiate your program from those of competitors.
Determine how the program may affect the entire organization (Section VI).
Are there regulatory or policy implications?
Will new licenses or certificates be required for the organization or staff members?
Will the program affect the tax status of the organization?
How might the program affect liability and risk management?
Do you have enough space for the program?
Do you have evidence to support the effectiveness of the program?
Recommend a course of action based on the information in the feasibility study.
How does your recommendation reflect ethical decision making?

Deliverable Format

The feasibility study is a professional document and should therefore follow the corresponding MBA Academic and Professional Document Guidelines, including single-spaced paragraphs.

Organize your document using this structure:

Title page. (What is the title of your proposed program?)
Executive summary. (Many executives require an executive summary for projects of this type. The summary is written last, but becomes the first section of the feasibility study and provides an overview of the goals and objectives, summarizes the key points supporting the need, summarizes the key points supporting your proposed program, and includes your conclusion and recommendations.)
Feasibility study.
References page.
APA-formatted references.
Written using language appropriate for an executive audience.
Evaluation

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies through corresponding scoring guide criteria:

Competency 1: Analyze how economic, legal, regulatory, and policy factors influence the organization and financing of health care delivery systems.
Provide relevant information on an organization.
Analyze the potential financial and economic issues associated with implementing the proposed program.
Analyze the marketing issues associated with the proposed program.
Competency 2: Analyze relationships between elements of a health care system and organizational goals.
Explain the value of a proposed program.
Competency 3: Analyze how health care systems influence decision making within health care organizations.
Analyze the objectives of a proposed program for an organization.
Determine how the proposed program could affect the organization.
Competency 4: Communicate health care management needs, opportunities, and strategies with multiple stakeholders.
Recommend an ethical and evidence-based course of action.
Correctly format citations and references using current APA style.
Write content clearly, logically, and in a manner appropriate for the target audience.

 

These resources will help you understand the role of economics in health care decision making:

Fuchs, V. R. (2012). Major trends in the U.S. health economy since 1950. Retrieved from http://www.nejm.org/doi/full/10.1056/NEJMp1200478
PH210x. (Producer). (n.d.). Financing healthcare system [Video] | Transcript Retrieved from https://www.youtube.com/watch?v=85XDL7RLe7A&feature=youtu.be
Guinness, L., & Wiseman, V. (2011). Introduction to health economics (2nd ed.). New York, NY: McGraw-Hill Education.
Section 1.
Baker, L. C., Bundorf, M. K., & Kessler, D. P. (2014). Vertical integration: Hospital ownership of physician practices is associated with higher prices and spending. Health Affairs, 33(5), 756–763.
Ho, K., & Lee, R. S. (2017). Insurer competition in health care markets [PDF]. Econometrica, 85(2), 379–417. Retrieved from http://www.people.fas.harvard.edu/~robinlee/papers/InsurerComp.pdf
American College of Healthcare Executives. (2017). Top issues confronting hospitals in 2017. Retrieved from https://www.ache.org/pubs/research/ceoissues.cfm

 

Use these resources to gain better understanding of finance and revenue cycle in health care:

Mcaskill, R. (2014). Examining the basics of the healthcare revenue cycle. Retrieved from https://revcycleintelligence.com/news/examining-the-basics-of-the-health-care-revenue-cycle
Kaiser, L. S., & Lee, T. H. (2015, October 8). Turning value-based health care into a real business model. Harvard Business Review Digital Articles, 2–5.
Cheney, C. (2017). Top 5 differences between NFPs and for-profit hospitals. Retrieved from http://www.healthleadersmedia.com/finance/top-5-differences-between-nfps-and-profit-hospitals
Rudowitz, R., & Garfield, R. (2017). 10 things to know about Medicaid: Setting the facts straight. Retrieved from https://www.kff.org/medicaid/issue-brief/10-things-to-know-about-medicaid-setting-the-facts-straight/
Kaiser Family Foundation. (Producer). (2014). Health insurance explained: The YouToons have it covered [Video] | Transcript Retrieved from https://www.youtube.com/watch?v=-58VD3z7ZiQ&feature=youtu.be
Paradise, J., Rosenbaum, S., Markus, A., Sharac, J., Tran, C., Reynolds, D., & Shin, P. (2017). Community health centers: Recent growth and the role of the ACA. Retrieved from https://www.kff.org/medicaid/issue-brief/community-health-centers-recent-growth-and-the-role-of-the-aca/
Milken Institute. (Producer). (2014). Health care delivery in the 21st century [Video] | Transcript Retrieved from http://www.milkeninstitute.org/videos/view/health-care-delivery-in-the-21st-century

 

These resources examine the role of policy and regulation in health care:

Rand Health. (n.d.). Healthcare reform: The future of U.S. health care: Replace or revise the Affordable Care Act?. Retrieved from https://www.rand.org/health/key-topics/health-policy/in-depth.html
PH210x. (Producer). (n.d.). Definitions [Video] | Transcript Retrieved from https://youtu.be/wDPcMuowSuA
The Audiopedia. (Producer). (n.d.). What is best practice? What does best practice mean? Best practice meaning & explanation [Video] | Transcript Retrieved from https://www.youtube.com/watch?v=lKWvL9BpxdE&feature=youtu.be
National Conference of State Legislatures. (n.d.). Health. Retrieved from http://www.ncsl.org/research/health.aspx
Thornhill, L., & Conant, R. (2018). Improving care through public policy. The Gerontologist, 58(Supplement 1), S141–S147. Retrieved from https://academic.oup.com/gerontologist/article/58/suppl_1/S141/4816758?searchresult=1
Field, R. I. (2008). Why is health care regulation so complex?. Pharmacy and Therapeutics, 33(10), 607–608. Retrieved from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2730786/
U.S. National Library of Medicine. (n.d.). Health Services Research Information Central. Retrieved from https://www.nlm.nih.gov/hsrinfo/abouthsr.html
Explore this site to find research resources on a variety of topics.

The following resources focus on marketing in health care:

Thomas, R. K., & Calhoun, M. (2007). Marketing matters: A guide for health care executives. Chicago, IL: Health Administration Press.
Chapter 1.
Greenfield, J., & Whitler, K. A. (2015). The new world of healthcare marketing: A framework for adaptation. Retrieved from https://www.forbes.com/sites/kimberlywhitler/2015/09/06/the-new-world-of-healthcare-marketing-a-framework-for-adaptation/#57603c3a1c10
Honigman, B. (2017). 24 outstanding statistics & figures on how social media has impacted the health care industry. Retrieved from https://getreferralmd.com/2013/09/healthcare-social-media-statistics/

Business Law and Ethics Paper

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Law & Ethics Assignment 1: Written Brief (Individual)
This assignment will test your understanding of the content of the first five weeks (types of law and regulation, contracts and legal business structures) as well as your ability to apply that knowledge to a management context. The aim is to test your awareness of the key legal questions and issues likely to face a business owner rather than detailed knowledge of the law and its precise requirements. It is designed to be authentic assessment, preparing you for the likely real-world situation of a manager preparing to consult a legal professional.
Scenario
You wish to set up and operate a business in sport, events, creative enterprise or any other industry. You have a meeting arranged with your lawyer in two weeks. She is very expensive so you wish to make the most of the meeting. The lawyer has asked you to provide some information in advance so that she can be ready to advise you.
Your task is to prepare a written document (1,000-1,200 words – excluding references) that clearly provides the requested information. You can present the document as a business email. This means it can be in the first person. It should use full sentences and paragraphs and can use headings but should avoid excessive use of bullet points. Her email asks the following:

1. Please provide a brief description of the purpose of your business
Here you are setting the management context for your analysis – provide a proposed name for the business and describe its purpose including the goods or services it will provide.
2. What legal structure do you propose for the business and why?
Choose a legal structure and explain why this suits the nature and purpose of the business.
3. Will you need me to draft any contracts? Please name the parties involved in each contract and their key responsibilities/obligations.
Choose at least THREE important relationships between the business and its stakeholders that should be defined by a contract – when ‘naming the parties’ you can describe the type of relationship (e.g. employee) rather than actual name. Provide a summary of the purpose of the contract – the essence of the agreement.
4. Do you have any other legal concerns, for example, regarding licensing requirements, or potential liability? Why do you think these issues could be important for the operation of your business?
Think of at least TWO legal topics and spend some time explaining why they might be an issue for your business – to get ideas conduct some research around recent news events where businesses in your sector have come across legal problems.
General Assessment Tips
You must ensure that your report is specific to your chosen business rather than to businesses in general.
You can be creative with regards to the business – basing it on a dream/imaginary new business whilst drawing ideas from real/existing organisations.
The task is to apply the knowledge provided in the first five lectures to a business context.
If you wish to excel in this assessment you will need to explain yourself clearly and show that you have conducted research particularly in relation to the last question.
This means you need to reference your sources so that we can clearly see where you found your information. You can use either:
For this assessment you will not lose marks for inaccurate referencing, we are not looking for perfect referencing style but do want to see evidence of quality, authoritative research sources which can be government websites, reports, news articles as well as academic sources.
Listed below are some helpful websites – we encourage you to also browse recent news articles relevant to your chosen business area to help identify practical legal challenges facing the industry.
Resources
https://www.business.gov.au/planning/new-businesses/legal-essentials-for-business
https://ablis.business.gov.au/
http://www.fairtrading.nsw.gov.au/
http://asic.gov.au/
https://www.safework.nsw.gov.au/legal-obligations
https://www.ipaustralia.gov.au/

 

AFKAP Industries has 3 million shares of stock outstanding selling at $17 per share

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AFKAP Industries has 3 million shares of stock outstanding selling at $17 per share, and an issue of $20 million in 7.5 percent annual coupon bonds with a maturity of 15 years, selling at 106 percent of par. Assume TAFKAP’s weighted average tax rate is 34 percent and its cost of equity is 14.5 percent.

What is TAFKAP’s WACC? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

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Suppose that TapDance, Inc.’s, capital structure features 65 percent equit

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Suppose that TapDance, Inc.’s, capital structure features 65 percent equity, 35 percent debt, and that its before-tax cost of debt is 8 percent, while its cost of equity is 13 percent. Assume the appropriate weighted average tax rate is 34 percent.

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Oberon, Inc., has a $20 million (face value) 10-year bond issue selling for 97 percent

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Oberon, Inc., has a $20 million (face value) 10-year bond issue selling for 97 percent of par that pays an annual coupon of 8.25 percent.

What would be Oberon’s before-tax component cost of debt? (Round your answer to 2 decimal places.)

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