Phân tích và đánh giá vài trò của CFO trong doanh nghiệp e

Individual assignment– Corporate Finance Phân tích đánh giá vài trò CFO doanh nghiệp Part 1: Writing Analyzing the role and objectives of corporate finance You comment on the role of the CFO (chief financial officer) in the enterprise The necessity of this position in Vietnam enterprises Corporate finance In terms of form, corporate finance ( CF) is Monetary Fund in the process of creating, distributing, and using movement associated with the operation of the enterprise In terms of nature, CF is the economic relationship in the form of value arising in connection with the creation and using Monetary Fund of enterprises in the operation of the enterprise Corporate Finance has roles follows: - Role mobilization, financial exploitation to ensure business requirements of the enterprise and organized to use capital that is the most effectively: To have enough capital for business production activities, corporate finance must pay capital requirements, funding options, in addition it has to organize mobilization and use right to maintain and promote the development effectively in business process of the enterprise, this is the decisive issue to the survival of the enterprise in the competitive process "extreme" according to the market mechanism - The role of leverage stimulates and regulates business activities: Cash income of the enterprise is the distribution of corporate finance Cash income that the enterprise achieved sales income primarily it has to offset the costs incurred in the Individual assignment– Corporate Finance manufacturing process such as offset depreciation of machinery and equipment, employee salaries and to purchase materials fuel to produce new cycle, perform their obligations to the State The rest of the enterprise used to form of the enterprise funds, perform capital maintenance, or pay dividends (if any) Distributed function of corporate finance is the process of distributing cash income of the enterprise and distribution process that is always associated with the inherent characteristics of business activities and the enterprise ownership Besides , if the manager knows the creative application the distributed functions of corporate finance in accordance with the rules that will make corporate finance become economic leverage effectly in creating incentives economic impact to increase productivity, stimulates and enhance the attraction capital accumulation, accelerate the capital turnover, stimulates consumer society - The role is a tool to test the operational business of the enterprise: Corporate Finance checking performed in the currency and conducting regularly, continuously through analysis of financial indicators Specific indicators are: indicators of financial structure, indicators of payment capability, indicators of operational characteristics, using financial resources; specific indicators of profitability By analyzing the financial indicators allow businesses that have important base to promptly proposed an optimal solution as a healthy financial situation - business the enterprise The goal of corporate finance is to maximize the benefits of their owners "Chief Financial Officer" is abbreviated CFO that is position in the enterprise Without this position leadership can not manage finance methodically and professionally The job of chief financial officer requires the skills and special qualities, they have a completely different roles for accountants because many tasks of Chief Financial Officer that Chief Accountant can not be done "In professional organizations, Chief Financial Officer position is indispensable, lack Chief Financial Officer in the Vietnam enterprises now lead to serious consequences Because there is less Vietnam Business that has titles CFO literally so this enterprise lacks a Individual assignment– Corporate Finance professional manager to assess the situation regularly Corporate Financial So, in many cases, CEO / Managing Director, the Board of Directors not fully understand the financial situation of their enterprise, to discover signs of bad doubtful debts rise to excessive allowed, accrued liabilities too high, low effective business then to be caught The position of chief financial officer, although relatively new to the financial institutions, it is traditional in non-financial enterprises where chief financial officer is usually a member of senior management In the non-financial enterprises, chief financial officer is responsible for the implementation of business capital, both long-term (equity and debt) and short term (working capital, liquidity, and loan limits bank); structure of the enterprise assets (the optimal combination ratio between cash, accounts receivable, inventory and fixed assets to achieve the profit target without incurring excessive financial risk); financial planning and strategic management accounting (internal) and financial (external) and internal control In financial organizations, the responsibility is transferred to several different managers, but the changes in the operating environment and environmental risks of financial institutions set out a growing demand for establish chief financial officer functions in the structure of financial institutions PART 2: TEST Please choose the most correct answer by circling on the correct answer that you have selected Template questions have only one correct answer INFORMATION BELOW (TABLE 1) USED FOR ANSWERS FROM QUESTION TO QUESTION Balance Sheet of the Smith Company Assets: Cash and securities marketable $300.000 Receivables 2.215.000 Inventories 1.837.500 Prepaid expenses 24,000 Individual assignment– Corporate Finance Total Current Assets $3.286.500 Fixed assets 2.700.000 Except: accumulated depreciation 1.087.500 Net fixed assets $1.612.500 Total Assets $4.899.000 Liabilities: Short-term payables $240.000 Negotiable instrument payables 825.000 Tax accrual 42.500 Total current liabilities $1.107.000 Long-term debt 975.000 Equity 2.817.000 Total Long-term debt and Equity $4.899.000 Income Statement Net sales (sell on credit) $6.375.000 Except: Cost of goods sold 4.312.500 Selling expenses & General administration expenses 1.387.500 Depreciation expense 135.000 Interest expense 127.000 Income before tax $412.500 Corporate income tax 225.000 Income (profit) net $187.500 Common stock dividends $97.500 Income (profit) leave $90.000 Individual assignment– Corporate Finance Based on the information in Table 1, the current rate is: A 2,97 B 1,46 C 2,11 D 2,23 Based on the information in Table 1, using 360 days / year average collecting money period: A 71 days B 84 days C 64 days D 125 days Based on the information in Table 1, the debt ratio (ratio of liabilities) is: A 0,70 B 0,20 C 0,74 D 0,42 Based on the information in Table 1, the net profit margin on sales equal how much: A 4,61% B 2,94% C 1,97% D 5,33% Based on the information in Table 1, the Inventory Turnover Ratio is: A 0,29 times B 2,35 times C 0,43 times D 3,47 times Which is type the following companiesno subjectload limited liability debt? A) Private Company B) Joint Stock Company Individual assignment– Corporate Finance C) Public company D) All the above answers are wrong Calculate the present value (PV) of $ 100,000 received after years from today, assuming an interest rate of 8% / year? A) $60.000,00 B) $68.058,32 C) $73.502,99 D) $82.609,42 Calculate the present value (PV) of $ 80,000 received after 10 years from today, assuming an interest rate of 5% / year? A) $38.422,76 B) $40.000,00 C) $49.113,06 D) $76.000,00 Calculate the present value (PV) of $ 50,000 received after 20 years from today, assuming an interest rate of 4% / year? A) $5.242,88 B) $10.000,00 C) $22 819,35 D) $40.000,00 10 Calculate future value (FV) of $ 60,000 in years, assuming the interest rate is 5% / year? A) $62.500,00 B) $72.674,86 C) $75.000,00 D) $76.576,89 11 The NPV method: A Is consistent with the goal of maximizing value for shareholders B Recognizing the value of money over time Individual assignment– Corporate Finance C Use cash flow D All the above answers are correct 12 The NPV method assumes cash flows are reinvested at the: A IRR B NPV C The rate of real income D Weighted Average Cost of Capital (WACC) 13 You are analyzing a proposed project and have the following information: Year Cash flow -$135.000 $ 28.600 $ 65.500 $ 71.900 Payback period required years Income ratio requirements 8,50% Net Present Value (NPV) of the proposed project is ? A $3.289,86 B $3.313,29 C $4.289,06 D $4.713,71 14 Calculate future value (FV) of $ 10,000 in years, assuming an interest rate of 10% / year? A) $16.212,78 B) $18.000,00 C) $18.756,22 D) $21.435,89 15 Calculate future value (FV) of $ 20,000 in years, assuming an interest rate of 12% / year? A) $17.096,08 Individual assignment– Corporate Finance B) $28.292,66 C) $31.470,39 D) $32.020,64 16 If $ 15,000 is invested at interest rate of 10% / year, asked how long will the investment be doubled? A) 7,3 years B) 8,4 years C) 10,6 years D) 14,8 years 17 If the money is invested at 8% interest rate / year, asked approximately how many years the interest received will be equal to the original investment? A) years B) years C) years D) 12 years 18 Sara wants to have $ 500,000 in a savings account when she retired Ask how much she must have money in the account now if the interest rate is fixed at 8% / year, to make sure she will have $ 500,000 in 20 years? A) $107.274 B) $144.616 C) $180.884 D) $231.480 19 You are analyzing a proposed project and have the following information: Payback period required Year Cash Flow -$135.000 $ 28.600 $ 65.500 $ 71.900 years Individual assignment– Corporate Finance Income ratio requirements 8,50% The payback period using discounted cash flow of the project? A 2,57 years B 2,64 years C 2,87 years D 2,94 years 20 Which of the following is not considered as equity in the balance sheet of the company? A Cash B Paid in capital C Preferred shares D Income leave (profit retention) E Ordinary shares 21 Calculated Yield To Maturity (YTM) of a 5-year bonds, $ 5,000 par value bond with a 4.5% interest rate and pay interest every months if coupon bond is priced at $ 4876? A) 4.30% B) 5.07% C) 6.30% D) 8.60% 22 Calculated Yield To Maturity (YTM) of a 10-year bonds, $ 1,000 par value bond with a 5.2 % interest rate and pay interest every months if coupon bond is priced at $ 884? A) 5.02% B) 6.23% C) 6.82% D) 12.46% 23 A bond have 3-year term, Par value of $ 2,000 and have 6.3% interest rate bonds with coupon rate paid annually (1 year payment times) Ask Yield To Maturity (YTM) by how much if the bond is priced $ 1,801? A) 6.30% Individual assignment– Corporate Finance B) 8.48% C) 9.22% D) 10.32% 24 /One bonds par value $ 1,000 bond with an interest rate of 5.4% / year and coupon interest paid every months, bonds have year term and Yield To Maturity (YTM) of 7.5% If interest rates rise and Yield To Maturity - YTM rise 7.8%, How are bond prices affected ? A) Decrease $9,82 B) Decrease $11,59 C) Increase $12,16 D) The price of the bond does not change 25 One bonds par value $ 5,000 bond with an interest rate of 6.4% / year and coupon interest paid every months, bonds have year term and Yield To Maturity (YTM) of 6.2 % If interest rates rise and Yield To Maturity - YTM rise 0.8%, How are bond prices affected ? A) Decrease $98,64 B) Increase $40,49 C) Increase $84,46 D) Increase $142,78 26 Calculated bond yields of bonds with a term of years, $ 10,000 par value of the coupon interest paid every months and the current price of the bond is $ 9,543.45, Yield To Maturity (YTM) 6.8%? A) 4,32% B) 5,60% C) 6,25% D) 8,44% 27 In Harry's birth, his father spent on $ 1,000 investment account committed paying interest of 4% / year Asked how much money Harry would be have when he is 18 years old? A) $1.720 B) $2.026 10 Individual assignment– Corporate Finance C) $2.804 D) $4.806 28) Helen's savings to start her business If she invested $ 10,000 in the account now, asked how much of the minimum interest rate is to make sure that she has $ 25,000 in her account in 10 years? A) 2,5% B) 6,4% C) 9,6% D) 10,2% 29 Consider the following chain of cash flows: | | | | | ? $5000 $6000 $7000 $8000 Year Cash Flow If the market interest rate at 8% / year, the present value (PV) of the cash flow chain will be approximately: A) $22.871 B) $21.211 C) $24.074 D) $26.000 30 Consider the following chain of cash flows: | | | | | $1000 $2000 $3000 $4000 ? Year Cash Flow If the market interest rate at 8% / year, the present value (PV) of the cash flow chain will be approximately: A) $11,699 B) $10,832 C) $12,635 11 Individual assignment– Corporate Finance D) $10,339 12 ... 4.312.500 Selling expenses & General administration expenses 1.387.500 Depreciation expense 135.000 Interest expense 127.000 Income before tax $412.500 Corporate income tax 225.000 Income (profit) net... investment be doubled? A) 7,3 years B) 8,4 years C) 10,6 years D) 14,8 years 17 If the money is invested at 8% interest rate / year, asked approximately how many years the interest received will be... the creative application the distributed functions of corporate finance in accordance with the rules that will make corporate finance become economic leverage effectly in creating incentives economic