# on 05-Jul-2017 (Wed)

#### Annotation 149468295

 adding article you MUST have a user

Wikipedia:FAQ - Wikipedia, the free encyclopedia
cal, legal, financial, safety, and other critical issues? 8 Who owns Wikipedia? 9 Why am I having trouble logging in? 10 How can I contact Wikipedia? How do I create a new page? <span>You are required to have a Wikipedia account to create a new article—you can register here. To see other benefits to creating an account, see Why create an account? For creating a new article see Wikipedia:Your first article and Wikipedia:Article development; and you may wi

#### Flashcard 150914983

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#angielski #angielski-bez-błędów
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Określenia advertising można również używać w odniesieniu do przemysłu reklamowego.

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#### Flashcard 150914990

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#angielski #angielski-bez-błędów
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przetłumacz:

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#### Flashcard 150915008

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#angielski #angielski-bez-błędów
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niepoliczalnym

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#### Flashcard 150915026

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#angielski #angielski-bez-błędów
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przetłumacz:
Mam dla ciebie bardzo przydatną radę.
I've got a very useful piece of advice for you.

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#### Flashcard 1429314604300

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#sister-miriam-joseph #trivium
Question
Each of the liberal arts is both a science and an art in the sense that in the province of each there is [...] (science) and [...] (art).
something to know

something to do

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Each of the liberal arts is both a science and an art in the sense that in the province of each there is something t o know (science) and something to do (art).

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#### Flashcard 1434914000140

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#6-revisiting-demand-function #cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #study-session-4
Question
A demand curve for bread is derived from the [...] and a [...] representing different prices of bread.
indifference curve map

set of budget constraints

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A demand curve for bread is derived from the indifference curve map and a set of budget constraints representing different prices of bread.

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6. REVISITING THE CONSUMER’S DEMAND FUNCTION
upper exhibit, we have rotated the budget constraint rightward, indicating successively lower prices of bread, P1B , P2B , P3B , P4B , while holding income constant at I. Exhibit 15. Deriving a Demand Curve Note: <span>A demand curve for bread is derived from the indifference curve map and a set of budget constraints representing different prices of bread. This pair of diagrams deserves careful inspection. Notice first that the vertical axes are not the same. In the upper diagram, we represent the quantity of the other good,

#### Flashcard 1439330077964

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#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10 #subject-3-investment-criteria
Question
When you set NPV equal to zero in calculating a bid price, you are ______

finding the price at which you expect to create zero wealth for your stockholders.

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dy>NPV measures the dollar benefit of the project to shareholders. However, it does not measure the rate of return of the project, and thus cannot provide "safety margin" information. Safety margin refers to how much the project return could fall in percentage terms before the invested capital is at risk.<body><html>

#### Original toplevel document

Subject 3. Investment Decision Criteria
on that capital. If a firm takes on a project with a positive NPV, the position of the stockholders is improved. Decision rules: The higher the NPV, the better. Reject if NPV is less than or equal to 0. <span>NPV measures the dollar benefit of the project to shareholders. However, it does not measure the rate of return of the project, and thus cannot provide "safety margin" information. Safety margin refers to how much the project return could fall in percentage terms before the invested capital is at risk. Assuming the cost of capital for the firm is 10%, calculate each cash flow by dividing the cash flow by (1 + k) t where k is the cost of capital and t is the year number.

#### Flashcard 1469124578572

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Question
The [...] is the rate of return that the suppliers of capital require as compensation for their contribution.

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The cost of capital is the rate of return that the suppliers of capital—bondholders and owners—require as compensation for their contribution of capital.

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2. COST OF CAPITAL
The cost of capital is the rate of return that the suppliers of capital—bondholders and owners—require as compensation for their contribution of capital. Another way of looking at the cost of capital is that it is the opportunity cost of funds for the suppliers of capital: A potential supplier of capital will not voluntarily invest in a

#### Flashcard 1621270072588

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#cashflow-statement
Question
Net income available to common shareholders is the company's earnings after [...], taxes and [...]
interest

preferred dividends.

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Subject 3. Cash Flow Statement Analysis
; Free cash flow = CFO - capital expenditure Free Cash Flow to the Firm (FCFF): Cash available to shareholders and bondholders after taxes, capital investment, and WC investment. <span>FCFF = NI + NCC + Int (1 - Tax rate) - FCInv - WCInv NI: Net income available to common shareholders. It is the company's earnings after interest, taxes and preferred dividends. NCC: Net non-cash

#### Annotation 1622832975116

 He asks al-Farazdaq to stop praising his clan Muj¯ashi , and attempt to look for another clan to praise, such as Nahshal (Nahshal is more noble than Muj¯ashi , )

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#### Annotation 1622834547980

 Praising the de- scendants of his grandmother Jan- dala (here, it is likely that he especially chose the name Jandala because it sounds similar to the name Jandal mentioned by al- Farazdaq)

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#### Annotation 1622837693708

 Historically speaking, naqi~as nos. 15---16 arc very problcn1atic: the first \Vas co1nposcd by Ght4SSiin al-Sall~l, \vhilc the second \Vas co1n- poscd by Jarlr. Both have the san1c f,a'wi1 1nctcr, and the san1c rhyn1c letter s. The t\VO pocn1s arc preceded by a short prose narration. 24 The narration docs not present Ghassiin in al-'{an1ii1na, the place in \vhich he and Jarlr scc1n to have presented their naqii)i~ pocn1s until then, but in al-Kuniisa.

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#### Annotation 1622839266572

 he states that it became a maḥalla. This word means a special place for alighting and descending, and so one may conclude that al- Kunāsa was a kind of a way station where travellers used to stop and spend some time resting.

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#### Annotation 1622840839436

 Al-Kunasa was also a place in which poets used to recite their poetry.

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self-reflective linguistic material referring to the evolving text and to the writer and imagined reader of that text.

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#### Annotation 1622848179468

 It is based on a view of writing as social engagement and in academic contexts reveals the ways that writers project themselves into their discourse to signal their attitude towards both the propositional content and the audience of the text.

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#### Annotation 1622849752332

 Essentially our argument is that metadiscourse o ers a way of understanding the interpersonal resources writers use to present propositional material and therefore a means of uncovering something of the rhetorical and social distinctiveness of disciplinary communities.

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#### Annotation 1622869150988

 #duchowy #formacja #psychologia #rozwojowa #rozwój #wychowanie #wzrost Dziecko rozpoczyna proces wychodzenia z relacji podległości w [...] . Nastolatek jest starszy, większy, bardziej świado- my, wykształcony i bardziej skłonny do działania. Zaczyna odczuwać zniecierpliwienie, chciałby już wyzwolić się spod zamkniętego, ota- czającego go zewsząd maminego klosza. Czas skończyć z: „Mama wie lepiej, co dla ciebie dobre”, i wyjść w świat taki, jakim on jest naprawdę

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#### Annotation 1622875180300

 Rule of 72 #tvm To quickly approximate the number of periods, practitioners sometimes use an ad hoc rule called the Rule of 72: Divide 72 by the stated interest rate to get the approximate number of years it would take to double an investment at the interest rate. Here, the approximation gives 72/7 = 10.3 years. The Rule of 72 is loosely based on the observation that it takes 12 years to double an amount at a 6 percent interest rate, giving 6 × 12 = 72. At a 3 percent rate, one would guess it would take twice as many years, 3 × 24 = 72.

#### Flashcard 1622876491020

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#tvm
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To quickly approximate the number of periods, practitioners sometimes use an ad hoc rule called the [...]

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Rule of 72
To quickly approximate the number of periods, practitioners sometimes use an ad hoc rule called the Rule of 72 : Divide 72 by the stated interest rate to get the approximate number of years it would take to double an investment at the interest rate. Here, the approximation gives 72/7 = 10.3 year

#### Flashcard 1622879112460

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#tvm
Question
Rule of 72 : Divide 72 by [...] to get the approximate number of years it would take to double an investment
the stated interest rate

(double it at the interest rate.)

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Rule of 72
To quickly approximate the number of periods, practitioners sometimes use an ad hoc rule called the Rule of 72 : Divide 72 by the stated interest rate to get the approximate number of years it would take to double an investment at the interest rate. Here, the approximation gives 72/7 = 10.3 years. The Rule of 72 is loosely based on the observation that it takes 12 years to double an amount at a 6 percent interest rate, giving 6 × 1

#### Flashcard 1622881471756

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#tvm
Question
How do you solve for number of periods?
FVN = PV(1 + r)N

You solve for N

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#### Flashcard 1622883306764

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#tvm
Question
The principle that the approximate number of years necessary for an investment to double is [...] .
72 divided by the stated interest rate

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#### Annotation 1622885666060

 #summary #tvm The interest rate, r, is the required rate of return; r is also called the discount rate or opportunity cost. An interest rate can be viewed as the sum of the real risk-free interest rate and a set of premiums that compensate lenders for risk: an inflation premium, a default risk premium, a liquidity premium, and a maturity premium. The future value, FV, is the present value, PV, times the future value factor, (1 + r)N. The interest rate, r, makes current and future currency amounts equivalent based on their time value. The stated annual interest rate is a quoted interest rate that does not account for compounding within the year. The periodic rate is the quoted interest rate per period; it equals the stated annual interest rate divided by the number of compounding periods per year. The effective annual rate is the amount by which a unit of currency will grow in a year with interest on interest included. An annuity is a finite set of level sequential cash flows. There are two types of annuities, the annuity due and the ordinary annuity. The annuity due has a first cash flow that occurs immediately; the ordinary annuity has a first cash flow that occurs one period from the present (indexed at t = 1). On a time line, we can index the present as 0 and then display equally spaced hash marks to represent a number of periods into the future. This representation allows us to index how many periods away each cash flow will be paid. Annuities may be handled in a similar fashion as single payments if we use annuity factors instead of single-payment factors. The present value, PV, is the future value, FV, times the present value factor, (1 + r)−N. The present value of a perpetuity is A/r, where A is the periodic payment to be received forever. It is possible to calculate an unknown variable, given the other relevant variables in time value of money problems. The cash flow additivity principle can be used to solve problems with uneven cash flows by combining single payments and annuities.

#### Flashcard 1622886976780

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#summary #tvm
Question
The FV, is the PV, times the future value factor, [...]
(1 + r)N.

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An interest rate can be viewed as the sum of the real risk-free interest rate and a set of premiums that compensate lenders for risk: an inflation premium, a default risk premium, a liquidity premium, and a maturity premium. <span>The future value, FV, is the present value, PV, times the future value factor, (1 + r) N . The interest rate, r, makes current and future currency amounts equivalent based on their time value. The stated annual interest rate is a quoted interes

#### Flashcard 1622889336076

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#summary #tvm
Question
[...], makes current and future currency amounts equivalent based on their time value.
The interest rate, r

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compensate lenders for risk: an inflation premium, a default risk premium, a liquidity premium, and a maturity premium. The future value, FV, is the present value, PV, times the future value factor, (1 + r) N . <span>The interest rate, r, makes current and future currency amounts equivalent based on their time value. The stated annual interest rate is a quoted interest rate that does not account for compounding within the year. The periodic rate is the quoted interest

#### Flashcard 1622891957516

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#summary #tvm
Question
There are two types of annuities, [...] and the [...]
the annuity due

ordinary annuity.

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s per year. The effective annual rate is the amount by which a unit of currency will grow in a year with interest on interest included. An annuity is a finite set of level sequential cash flows. <span>There are two types of annuities, the annuity due and the ordinary annuity. The annuity due has a first cash flow that occurs immediately; the ordinary annuity has a first cash flow that occurs one period from the present (indexed at t = 1). On

#### Annotation 1622894316812

 #summary #tvm On a time line, we can index the present as 0 and then display equally spaced hash marks to represent a number of periods into the future. This representation allows us to index how many periods away each cash flow will be paid.

Open it
ypes of annuities, the annuity due and the ordinary annuity. The annuity due has a first cash flow that occurs immediately; the ordinary annuity has a first cash flow that occurs one period from the present (indexed at t = 1). <span>On a time line, we can index the present as 0 and then display equally spaced hash marks to represent a number of periods into the future. This representation allows us to index how many periods away each cash flow will be paid. Annuities may be handled in a similar fashion as single payments if we use annuity factors instead of single-payment factors. The present value, PV, is t

#### Annotation 1622896938252

 #summary #tvm Annuities may be handled in a similar fashion as single payments if we use annuity factors instead of single-payment factors.

Open it
a time line, we can index the present as 0 and then display equally spaced hash marks to represent a number of periods into the future. This representation allows us to index how many periods away each cash flow will be paid. <span>Annuities may be handled in a similar fashion as single payments if we use annuity factors instead of single-payment factors. The present value, PV, is the future value, FV, times the present value factor, (1 + r) − N . The present value of a perpetuity is A/r, where A is the pe

#### Annotation 1622901132556

 #summary #tvm The present value of a perpetuity is A/r, where A is the periodic payment to be received forever.

Open it
may be handled in a similar fashion as single payments if we use annuity factors instead of single-payment factors. The present value, PV, is the future value, FV, times the present value factor, (1 + r) − N . <span>The present value of a perpetuity is A/r, where A is the periodic payment to be received forever. It is possible to calculate an unknown variable, given the other relevant variables in time value of money problems. The cash flow additivity principle c

#### Annotation 1622902705420

 #summary #tvm It is possible to calculate an unknown variable, given the other relevant variables in time value of money problems.

Open it
s. The present value, PV, is the future value, FV, times the present value factor, (1 + r) − N . The present value of a perpetuity is A/r, where A is the periodic payment to be received forever. <span>It is possible to calculate an unknown variable, given the other relevant variables in time value of money problems. The cash flow additivity principle can be used to solve problems with uneven cash flows by combining single payments and annuities. <span><body></

#### Annotation 1622904278284

 #summary #tvm The cash flow additivity principle can be used to solve problems with uneven cash flows by combining single payments and annuities.

Open it
present value of a perpetuity is A/r, where A is the periodic payment to be received forever. It is possible to calculate an unknown variable, given the other relevant variables in time value of money problems. <span>The cash flow additivity principle can be used to solve problems with uneven cash flows by combining single payments and annuities. <span><body><html>

#### Annotation 1622909783308

 #cashflow-statement Free Cash Flow to Equity (FCFE): Cash available to stockholders after payments to and inflows from bondholders. This is the cash flow from operations net of capital expenditures and debt payments (including both interest and repayment of principal). FCFE = FCFF + Net borrowing - Int ( 1- Tax rate) FCFE can be calculated from net income. Recall that FCFF = NI + NCC + Int (1 - Tax rate) - FCInv - WCInv. Then: FCFE = NI + NCC + Net borrowing - FCInv - WCInv FCFE can be calculated from CFO. FCFE = CFO + Net borrowing - FCInv This is different from the formula given in the textbook since net debt repayment should be included in net borrowing!

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Free Cash Flow to Equity (FCFE): Cash available to stockholders after payments to and inflows from bondholders. This is the cash flow from operations net of capital expenditures and debt payments (including both interest and repayment of principal). FCFE = FCFF + Net borrowing - Int ( 1- Tax rate) FCFE can be calculated from net income. Recall that FCFF = NI + NCC + Int (1 - Tax rate) - FCInv - WCInv. Then: FCFE = NI + NCC + Net borrowing - FCInv - WCInv FCFE can be calculated from CFO. FCFE = CFO + Net borrowing - FCInv This is different from the formula given in the textbook since net debt repayment should be included in net borrowing! Cash Flow Ratios The cash flow statement may also be used in financial ratios measuring a company's profitability, performance, and financial str

#### Original toplevel document

Subject 3. Cash Flow Statement Analysis

#### Annotation 1622924201228

 #discounted-cashflow-applications In developing cash flow estimates, we observe two principles. First, we include only the incremental cash flows resulting from undertaking the project; we do not include sunk costs (costs that have been committed prior to the project). Second, we account for tax effects by using after-tax cash flows.