Does the concept of revenue less expense equaling an increase in equity or fund balance make sense to you? If not, why not?
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Does the concept of revenue less expense equaling an increase in equity or fund balance make sense to you? If not, why not?
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- Why are accruals called spontaneous sources of funds, what are their costs, and why don’tfirms use more of them?How do you think the misstatement of funds will impact the income statement and balance sheet?What is a benchmark and why is there a need to compare the fund's return vis-a-vis a benchmark?
- What are the advantages of evaluating fund performance based on Internal Rate of Return (IRR)? Why would an investor prefer to evaluate a fund based on a cash-on-cash return?Suppose a firm makes the following policy changes listed. If a change means that external, nonspontaneous financial requirements (AFN) will increase, indicate this by a (+); indicate a decrease by a (−); and indicate no effect or an indeterminate effect by a (0). Think in terms of the immediate effect on funds requirements.What is a fund? Distinguish between a fund and an appropriation of retained earnings.
- Which is more important from a finance perspective - net income or operating cash flow? Why? What is the difference between these two values?Can fund users (borrowers) such as corporations, raise funds through new issues of financial instruments in the primary market?How would you argue for a significant increase in both dividends and repurchases instead of using the available cash to make investments, i.e. M&A?
