Some topics in financial management, financial management topics

1.Find the present value of compound interest p=200000*(p f,8%,10)=200000*

2.Maturity value of the bill = 10000 + 10000 * 5% 12 * 6 = 10250 The maturity date is September 2.

Discount days (counting the beginning and not the tail) = 147 days.

April 23 days.

May 31 days.

June 30 days.

July 31 days.

August 31 days.

September 1 day.

Discount interest = 10250 * 6% 360 * 147 = 3Find the final value of the annuity f=a*(f a,i,n)=10000*(f a,8%,5)=10000*

i，n）=500000*（a/p，6%，15）=500000*5.The final value of the payable annuity is f=5000*(f a,6%8)*(1+6%)=5000*

6.The present value of the payable annuity is p=50,000*(p a,7%8)*(1+7%)=50,000*

1. Calculation of the present value of compound interest: p=200,000 (yuan) 2. I don't know whether the coupon rate and current rate referred to in the title are annual interest rate or monthly interest rate?

3. Calculation of the final value of ordinary pension: f=10,000,666 (yuan) 4. Calculation of the annual capital **: a=50 10,000 yuan) 5. Calculation of the final value of ordinary annuity:

f=5000 yuan) 6. Calculation of the present value of ordinary annuity: p=50000, 565 (yuan) and the above coefficients are obtained from the table.

I don't really understand it, and I don't know if it's right. You have to ask the experts and teachers!

This thing isn't that hard, just take a good look. 65

Single choice.

5 b。Increase the rate of return on own funds.

19 c, 4,900,000 yuan.

Before and after the issuance of ** dividends, the total amount of owners' equity does not change, but only the internal structure is adjusted.

Undistributed profit decreased by 8000000-1000000*10%.

The share capital increased by 1,000,000*10%.

Capital reserve increased by 1,000,000*10%*20-1,000,000*10%.

Multiple choice. 5 a EBIT; d。Depreciation withdrawn annually.

reduce the cost of capital; b.increase financial risk; d.Use financial leverage.

8a Funding cost ratio; c.Annual dividends.

9 a Current ratio; b.Cash ratio.

10． c.** Changes in market price; d.The proportion of owner's equity in each item has changed.

11a Issuance of bonds; c.bank borrowings; d.Financial leases.

12. B. The higher the risk-free rate of return, the higher the required rate of return D. The higher the degree of risk, the higher the risk-free rate of return, the higher the required rate of return E. It is an opportunity cost.

13. The beta coefficient of a, ** reflects the degree of variation of individual ** relative to the average risk**.

c. The beta coefficient of the ** combination is the weighted average of the ** beta coefficient that makes up the combination.

d. The beta coefficient of ** measures the systemic risk of individual **.

16. A. Determination of each date in the dividend payment procedure B. Determination of the dividend payment ratio C. Determination of the dividend payment method.

d. Raising cash required for the payment of cash dividends.

19. a. Some form of external market b. Information resources shared among various organizational units.

d. Complete cost transfer process between organizational units.

e. Appropriate intervention by top management in the transfer of **.

Question supplement: Judgment correction of wrong questions.

9 The debt-to-asset ratio is the total assets divided by the total liabilities. (False) Liabilities Assets.

10 Depreciation of fixed assets is included in costs and is a cash inflow from a cash flow perspective. (right).

13. When calculating the comprehensive cost of funds, the proportion of bonds and the market can also be determined. (right).

14. For the issuing company, the self-sale method of issuance has the characteristics of raising sufficient capital in a timely manner and avoiding the risk of issuance. (Wrong) underwriting is right.

18. Because the margin of safety is the difference between normal sales exceeding the sales of the critical point of profit and loss, and indicates how much the sales decline of the enterprise is still not a loss, the sales of the margin of safety is also the profit of the enterprise. (right).

The main problems solved are:

1.The goal of maximizing corporate value.

Enterprise value is the market value of the enterprise, which is the present value of the estimated future cash flows that the enterprise can create.

The financial management goal of maximizing enterprise value reflects the potential or expected profitability and growth ability of the enterprise, and its advantages are mainly manifested in:

1) The objective takes into account the time value of the money and the risk of the investment;

2) The target reflects the requirements for the preservation and appreciation of enterprise assets;

3) the goal is conducive to overcoming the one-sidedness and short-term behavior of management;

4) This goal is conducive to the rational allocation of social resources. The main disadvantage is that it is difficult to determine the value of the enterprise, especially for non-listed companies.

Question 1: The present value of option A p=10+15*(p f,10%,2)=10+15 ((10+10%) 2)=10,000 yuan.

The present value of option B = 25 * (1-3%) = 10,000 yuan.

Because the present value of plan A is the present value of plan B, it is more cost-effective to choose plan A Question 2: According to the relationship between termination and annuity f=a*(f a, i, n), it can be seen that a = 70 (f a, 10%, 30), where (f a, 10%, 30%) can check the coefficient of the final value of annuity.

Li Dong is 20 years old this year and is 30 years away from retirement. In order to enjoy his current standard of living after retirement, Li Dong believes that he must save at least 700,000 yuan by the end of the year of retirement. Assuming that the interest rate is 10%, in order to achieve this goal, Li Dong needs to save at the end of each year from now on.

Question 1, the present value of scheme a p=10+15*(p f,10%,2)=10+15 ((10+10%) 2)=10,000.

Present value of scheme b = 25 * (1-3%) = 10,000.

Therefore, it is more cost-effective to choose option A.

Question 2, According to the final value and annuity f=a*(f a,i,n), a=70 (f a, 10%, 30), where (f a, 10%, 30%), please check the final value coefficient of annuity.

Li Dong is 30 years old and 30 years away from retirement.

1. The final value of all investments = 60,000 * yuan.

The present value of the expected income in each year = 50,000 * yuan.

Hi, it's simple, but all these years the professional formula has been forgotten, alas.

Multiple choice questions on financial management:

1. The optimal expression of the financial management goal of the enterprise is (the maximization of shareholder wealth).

2. Deposit 5,000 yuan at the end of each year, find the value at the end of the fifth year, and use (annuity terminal value coefficient) to calculate.

3. Assuming that the expected dividend payment of a company's common stock is RMB per share, the expected annual dividend growth rate is 10, and the necessary rate of return is 15, the value of the common stock is (50) RMB.

4. Compared with other forms of enterprise organization, the most important feature of a corporate enterprise is the potential separation of ownership and management rights.

5. Among the following valuable **, the most liquid is (the tradable shares of listed companies).

6. If a person deposits 10,000 yuan in cash in a bank on January 1, 2015 with a term of 3 years and an annual interest rate of 10%, the sum of principal and interest after maturity is (13,310) yuan. It is known that the bank calculates interest on a compound basis, (f p, 10%, 3)=

7. Among the following items, which do not belong to the concept of "initial cash flow" of project investment, are (net operating cash flow).

8. The first step in investment decision-making is to estimate the expected cash flow of the investment project.

9. When the discount rate of an investment plan is 9, the net present value is 3 6;When the discount rate is 10 and the net present value is , the implied rate of return of the scheme is (9 6).

10. The annual operating income of an investment plan is 10,000 yuan, the annual cash cost is 6,000 yuan, the annual depreciation amount is 1,000 yuan, the income tax rate is 25%, and the annual operating cash flow of the program is (3,250) yuan.

Plan A: Depreciation = 20 5 = 4 tax deductible = 4 * 40% = so the annual cash flow during the operating period of Plan A = (8-3) * (1-40%) + the cash flow of Plan A at the beginning of the year - 20 Annual cash inflow static cash flow during the operating period = -20+

Net present value = -20 +, 5%, 5) = -20 + million yuan, plan B invested 24 + cash advance at the beginning of the year, 3 cash outflow, depreciation of -370,000 yuan, depreciation = (24-4) 5 = 4, tax deduction = 10,000 yuan.

Cash inflow per year = (10-4) * (1-40%) + No.

Cash inflows in two, three and four years = (

Cash inflow in the fifth year of the last year = 3+

Jingtai cash flow = -27+

NPV = -27+, 5%, 1)+, 5%, 3)*(p f, 5%, 1) +, 5%, 5).

Since the NPV of project B is greater than 0, it is feasible, and the NPV of project A is less than 0, even without project B.

1, ncf3 is not =0

2. Consider the value of time.

It is necessary to cash out the second and third years to the beginning.

3. Not included, the construction period does not reach the intended usable state is not considered fixed assets.

4. The total cost is not equal to the cash cost, because depreciation does not need to pay cash, so it is not the cash cost, but it is a cost.

So the total cost is not equal to the cash cost.