Financial Program to Define a Customer Class For our week 1 assignment, please write a financial program using C++ that defines a class named “customer” that holds private fields for a customer ID number, last name, first name, and credit limit.
Financial Program to Define a Customer Class
Include four public functions with each one setting one of the four fields (ID, last name, first name, credit limit). Do not allow any credit limit over $10,000. Please include a public function that displays a Customer’s data. Write a main() function in which you declare a Customer, set the Customer’s fields, and display the results. Save the file as Customer.cpp.
– main() function in which you declare a Customer, set the Customer’s fields, and display the results
These projects are to be completed in your Integrated Development Environment (IDE) (such as Visual Studio), and completed as executable C++ Console Applications so you can compile and run them to see if you have any errors.
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Write a case about a company’s financial position comparing it to two other companies and try to find a solution to improve its position
introduction of the company & situation
porter’s five forces analysis (Introducing the competition etc..)
3.Data comparison of the companies using Balance Sheets, P&L statement & cash flow (3 years)
4.final solution: what should the company do to improve its position
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
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Why do we focus on cash flows rather than accounting profits in making our capital-budgeting decisions? As a financial manager, explain which types of cash flows you would consider in evaluating an investment and why. Explain what is meant by options in capital budgeting and how they could influence a capital investment decision.
Search the SEU library or the internet for an academic or industry-related article. Select an article that relates to these concepts and explain how it relates to doing business in Saudi Arabia.
For your discussion post, your first step is to summarize the article in two paragraphs describing what you think are the most important points made by the authors (remember to cite the information, as appropriate). For the second step, include the reference listing with a hyperlink to the article. Please note, do not copy the article into your post and limit your summary to two paragraphs. Let me know if you have any questions. Enjoy your search.
Be sure to support your statements with logic and argument, citing all sources referenced. Post your initial response early, and check back often to continue the discussion. Be sure to respond to your peers’ posts as well.
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Roles and Major Components of the Financial System Financial system:
Roles and Major Components of the Financial System
What is the role of the financial system, and what are the two major components of the financial system?
Roles and Major Components of the Financial System Answer
The critical role of the financial system in the economy is to gather money from households, businesses, and governments with a surplus of funds to invest and channel that money to those who need it. The two major components of the financial system are financial markets and financial institutions.
Financial system: What is the difference between saver-lenders and borrower-spenders, and who are the major representatives of each group?
Answer: The difference between a saver-lender and a borrower-spender is that a saver-lender is someone whose income exceeds their spending and a borrower spending is someone who’s spending exceeds their incoming. Households are saver-lenders while businesses are borrower spenders.
Financial markets: Suppose you own security that you know can be easily sold in the secondary market, but the security will sell at a lower price than you paid for it. What does this imply for the security’s marketability and liquidity?
Answer: This implies the lower the transaction cost the greater the marketability is as it can be sold into cash faster. Liquidity implies that when the security is sold there is no loss of value when converted to cash.
Roles and Major Components of the Financial System
Financial markets: Trader Inc. is a $300 million company, as measured by asset value, and Horst Corp. is a $35 million company. Both are privately held corporations. Explain which firm is more likely to go public and register with the SEC, and why. Answer: Trader, Inc is more likely to go public because of its larger size. Though the cost of SEC registration and compliance is very high, larger firms can offset these costs by the lower funding cost in public markets. Smaller companies find the cost prohibitive for the dollar amount of the securities they are likely to sell.
Primary market: Identify whether the following transactions are the primary market or secondary market transactions.
(a) Jim Hendry bought 300 shares of IBM through his brokerage account.
Roles and Major Components of the Financial System Answer: Secondary
(b) Peggy Jones bought $5,000 of General Motors bonds from another investor.
Answer: Secondary
(c) Hathaway Insurance Company bought 500,000 shares of Trigen Corp. when the company issued stock.
Roles and Major Components of the Financial System Answer: Primary
Investment banking: Cranjet Inc. is issuing 10,000 bonds, and its investment banker has guaranteed a price of $985 per bond. If the investment banker sells the entire issue to investors for $10,150,000.
(a) What is the underwriting spread for this issue?
Answer: $300,000
(b) What does the percentage underwriting cost?
Answer: 3.05%
(c) How much will Cranjet raise?
Answer: $9,850,000
(Parrino, 713)
Financial institutions: How do financial institutions act as intermediaries to provide services to small businesses?
Answer: Financial institutions act as intermediaries by converting financial securities with one set of characteristics into securities with another set of characteristics. (Parrino, 36)
Market efficiency: Describe the informational differences that distinguish the three forms of market efficiency.
Answer: The strong form of market efficiency states that all information is reflected in the securities price. In other words, there is no private or inside information that if released would potentially change the price. The semi-strong form of market efficiency holds that all public information available to investors is reflected in the securities price. Therefore insiders with access to private information could potentially profit from trading on this information before it becomes public. Finally, the weak form of market efficiency holds that there Is bother public and private information that is not reflected in the securities price and having access to it can enable an investor to earn abnormal profits.(Parrino, 714)
Financial markets: What are the major differences between public and private markets?
Answer: Public markets are organized financial markets where the public buys and sells securities through their stockbrokers or other brokers or dealers. The SEC regulates public securities markets in the US. In contrast, private markets involve direct transactions between two parties. These transactions lack SEC regulation. (Parrino, 714)
Roles and Major Components of the Financial System
Interest rates: Your parents have given you $1,000 a year before your graduation so that you can take a trip when you graduate. You wisely decide to invest the money in a bank CD that pays 6.75 percent interest. You know that the trip costs $1,025 right now and that inflation for the year is predicted to be 4 percent. Will you have enough money in a year to purchase the trip?
Answer: Yes you will earn $1067.50 on the CD and the trip will cost $1066. I times 1000×6.75 percent for the Cd and 1025×4 percent for the inflation.
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Income Tax Implication of Capital Investment Decision
IncomeTax Implication of Capital Investment Decision
Read the following case study:
The Whitley Corporation’s year-end is December 31, 2013. It is now October 1, 2013. The Whitley management team is taking a look at the prior nine months and attempting to make some short-term strategy decisions.
Whitley has experienced steady growth over the five preceding years. The result has been a steadily increasing EPS. Last year, Whitley reported an EPS of 1.95.
This year, owing to a mild recession, Whitley’s sales have fallen off. Management is looking for strategies that can improve the appearance of the financial statements. At the same time, there is a need for new equipment in the plant. Despite the recession, Whitley has enough cash to make the purchase.
Based on the year’s performance to date and extrapolation of the results to year-end, management feels that the pretax financial accounting income for the year will be $200,000. Transactions from prior years have resulted in a deferred tax asset of $15,000 and a deferred tax liability of $70,000 at the beginning of 2013. The temporary difference of $37,500 that resulted in the deferred tax asset is expected to completely reverse by the end of 2013. The deferred tax liability resulted totally from temporary depreciation differences. There will be a pretax reversal of $42,500 in this temporary difference during 2013.
Based on currently enacted tax law, the purchase of the equipment will result in a future taxable amount of $50,000. Whitley management feels that it can wait four to six months to purchase the machine. Whitley’s tax rate is 40 percent.
Write a response of 700 to 1,050 words to the following:
Determine the projected amount of income tax expense that would be reported if Whitley waits until next year to purchase the equipment.
Determine the projected amount of income tax expense that would be reported if Whitley purchases the equipment in 2013.
Explain why Whitley should/shouldn’t wait to purchase the equipment. Your answer should take into consideration the expected financial statement effects, as well as the effect on EPS. Support your conclusions with pro forma data. The number of shares that Whitley will use to calculate EPS is 55,500.
Determine the ethical considerations of this case.
U.S. companies are saving $100 billion a year by shifting profits overseas
by Ranae Merle; May 10, 2016
Reviewed by LuAnn Bean
According to a study released in May 2016, U.S. multinational companies are saving $100 billion a year by shifting profits overseas to lower their tax bills. “In addition to merging or buying smaller foreign firms and moving their headquarters overseas to lower their tax rates, known as an inversion, companies also assign patents to subsidiaries in countries in which the profits made from them will be taxed at a lower rate” (Merle, 2016: U.S. companies are saving $100 billion a year by shifting profits overseas).
Randomly select and answer 1 of the following statements to spark class discussion:
Reminder: the goal is to engage with your classmates; simply posting your answer is insufficient to earn credit for discussions
Questions to spark class discussion:
Is shifting profits overseas tax fraud? Why or why not?
Explain the mechanism companies are using to shift profits overseas.
Which countries are companies shifting profits to and why (be specific)?
Propose U.S. Congressional acts that could mitigate the lost of tax revenue caused by companies shifting profits overseas .
Describe the risks of shifting cash from illegitimate organizations to legitimate financial markets.
Does shifting earnings overseas impact earnings per share for US shareholders? Be specific.
Personal Finance and Evaluating Banking Services Assignment: Evaluating Banking Services: (approximately 1,000 words) “Wow! My account balance is a little lower than I expected,” commented Melanie Harper as she reviewed her bank statement.
Personal Finance and Evaluating Banking Services
“Wait a minute! There’s nearly $20 in fees for ATM withdrawals and other service charges.” “Oh no! I also went below the minimum balance required for my free checking account,” Melanie groaned. “That cost me $7.50!” Melanie is not alone in her frustration with fees paid for financial services. While careless money management caused many of these charges, others could have been reduced or eliminated by comparing costs at various financial institutions. Melanie has decided to investigate various alternatives to her current banking services.
Personal Finance and Evaluating Banking Services
Her preliminary research provided the following: Mobile banking- allows faster access to account information, to quickly transfer funds, make payments and purchases. May include access to expanded financial services, such as low-cost, online investment trading and instant loan approval. Prepaid debit card- would prevent overspending, staying within the budgeted amount loaded to the card. Cards are usually accepted in most retail locations and online. A variety of fees might be associated with the card. Check-cashing outlet- would result in fees only when services are used, such as money orders, cashing a check, obtaining a prepaid cash card, or paying bills online. Many people do not realize the amount they pay each month for various bank fees. Some basic research can result in saving several hundred dollars a year.
Personal Finance and Evaluating Banking Services
Questions: Thoroughly explain each calculation/answer (25 words each)
What benefits and drawbacks might Melanie encounter when using each of these financial services? a. Mobile banking, b. Prepaid debit card, c. Check-cashing outlet
What factors should Melanie consider when selecting among these various banking services?
What actions might you take to better understand the concerns associated with using various banking services?
Personal Finance and Evaluating Banking Services Exercises
Discuss the effect of technology on the types and costs of services offered by various financial institutions.
If a person has ATM fees each month of $18 for 6 years, what would be the total cost of those banking fees?
A payday loan company charges 4 percent interest for a two-week period. What would be the annual interest rate from that company?
A certificate of deposit will often result in a penalty for withdrawing funds before the maturity date. If the penalty involves two months of interest, what would be the amount for early withdrawal on a $20,000, 6 percent CD?
What would be the net annual cost of the following checking accounts? a. Monthly fee, $3.75; processing fee, $0.25 cents per check; checks written, an average of 22 a month. b. Interest earnings of 6 percent with a $500 minimum balance; average monthly balance, $600; a monthly service charge of $15 for falling below the minimum balance, which occurs three times a year (no interest earned in these months).
Louise McIntyre’s monthly gross income is $2,000. Her employer withholds $400 in federal, state, and local income taxes and $160 in Social Security taxes per month. Louise contributes $80 per month for her IRA. Her monthly credit payments for Visa, MasterCard, and Discover cards are $35, $30, and $20, respectively. Her monthly payment on an automobile loan is $285. What is Louise’s debt payments–to–income ratio? Is Louise living within her means? Explain.
Personal Finance and Evaluating Banking Services
Fred Reinero has had a student loan, two auto loans, and three credit cards. He has always made timely payments on all obligations. He has a savings account of $2,400 and an annual income of $25,000. His current payments for rent, insurance, and utilities are about $1,100 per month. Fred has accumulated $12,800 in an individual retirement account. Fred’s loan application asks for $10,000 to start up a small restaurant with some friends. Fred will not be an active manager; his partner will run the restaurant. Will he get the loan? Explain your answer.
What changes might take place in your personal net worth during different stages of your life? How might these changes affect your credit capacity?
Dorothy lacks cash to pay for a $600 dishwasher. She could buy it from the store on credit by making 12 monthly payments of $52.74. The total cost would then be $632.88. Instead, Dorothy decides to deposit $50 a month in the bank until she has saved enough money to pay cash for the dishwasher. One year later, she has saved $642—$600 in deposits plus interest. When she goes back to the store, she finds the dishwasher now costs $660. Its price has gone up 10 percent. Was postponing her purchase a good trade-off for Dorothy?
Personal Finance and Evaluating Banking Services
Sidney took a $200 cash advance by using checks linked to her credit card account. The bank charges a 2 percent cash advance fee on the amount borrowed and offers no grace period on cash advances. Sidney paid the balance in full when the bill arrived. What was the cash advance fee? What was the interest for one month at an 18 percent APR? What was the total amount she paid? What if she had made the purchase with her credit card and promptly paid off the bill in full?
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1,800- 2000 word research paper, single spaced, one-inch margins, 12-point font, with a double space between paragraphs.
The first part: (about 1,200 words) must research 4 major concepts related to Job Order Costing concerning the Toronto Film Festival.
The second (600-700 words) needs to apply the concepts to the Toronto Film Festival.
Research Paper Outline attached and to be followed.
Heading
Abstract —
Part 1: Discussion of Important Concepts (1200 – 1300 words)
Concept #1: (generic subheading—use your specific concept)
Discuss with example
Concept #2: (generic subheading—use your specific concept)
Discuss with example
Concept #3: (generic subheading—use your specific concept)
Discuss with example
Concept #4: (generic subheading—use your specific concept)
Discuss with example
Part 2: Discussion of XXXX Applied to XXXX Company (600 – 800 words -information from video provided on Discussion Board)
Paragraph 1: Introduction to company (50 – 60 words)
Paragraphs 2-4 Specific Information on how your company’s management applies concepts. Be specific the video for your information here.you may need to watch the video several times.
Paragraph 5: Conclusion (50 – 60 words)
References
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Provide the article’s title, source, and publication date.
State the article’s major points.
Explain the authors’ motivation for the article.
Include your analysis of how well the article accomplished the author’s goal.
Specify what major concept from the course was discussed by the article(Performance measurement) and
Comment whether or not the article provided you with additional understanding of this major concept.
Provide some practical implications of the article.
List and evaluate its limitations.
You are not expected to comment on the article’s statistical analyses, if any.
This article assignment should include a cover page and should be presented in size-12 font, 1.5 line spacing, with normal margins, and not more than 1,200 words plus no more than 2 appendices. The assignment is to be professionally written, using appropriate syntax, grammar, vocabulary, and spelling.
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International Financial Management Written Report You are asked to develop and propose a solution to a company’s transaction and translation exposure. For this, you will be expected to use a variety of resources and databases (both written and electronic) and manage time effectively.
International Financial Management Written Report
You are asked to treat this report as though you work for Nestlé and you were asked by your line manager (boss) to prepare a report for Nestlé’s transaction exposure so that the company can adequately prepare. This is a general company report for internal use. There is nothing new in Nestlé’s business that you need to focus on but rather it is the company’s general situation. You are looking at the whole company and market and are considering a range of options for both the nature of the exposure as well as what it can potentially do to hedge its foreign exchange exposure. Using what we have learned in this module to manage various exposures, you are required to develop a report that will help Nestlé’s senior management team to plan for the future.
What you need to do:
Present a brief and critical overview of Nestlé as well as its financial circumstances with special focus on things that will be relevant for the transaction and translation exposure: (markets where it operates vs its HQ location; where does it source raw materials; what percentage of its income comes from abroad; where does it have subsidiaries and foreign local operations of any kind; what are the main currencies it needs). (approx. 400 words.) (20%)
Summarise what you have determined that the current situation with the management of transaction and translation exposure is. For this, you will probably need to go through Nestlé’s financial statements and/or other company documents and discuss if there is anything already in place for this (things like derivatives the may already have in their accounts and amounts of foreign currency and similar). Draw conclusions from this analysis. (approx. 600 words); (25%)
From what you have found out, analyze what hedging options should Nestlé use in order to manage its business effectively. Using what we have studied about hedging strategies and following what you have found about what the most important exposures that Nestlé has, outline and critically discuss your recommendations on the hedging strategy. For this analysis, you may also need to consult the world markets for foreign exchange and use trends and current market conditions to inform and guide your hedging recommendations. (e.g. if the price of the $US is expected to be going up or down in the coming months or year, what does that mean for the hedging strategy of Nestlé.) You may also wish to use graphs or charts that you have obtained from Bloomberg or the Financial Times. (approx. 600 words)(20%)
Finally, make your recommendations and conclusions of Nestlé’s foreign exchange exposure and management recommendations. Give reasons. Consider that this report will be read by people who have limited time on their hands and they may only focus on your main findings and recommendations. Therefore use this space to focus on what’s most important for Nestlé. What are its main challenges when it comes to foreign exchange exposure and what is the best way forward? (approx. 400 words)(15%)
To research this coursework use multiple resources: textbooks (look in the library or online); the Financial Markets Suite (Bloomberg); Financial Times (use the school subscription, see handbook for more details); official company accounts and other reputable news sources/articles from journals/books. Don’t forget to cite data sources and label charts and graphs properly. The quality of your sources will be taken into consideration. (15%)
Format and quality of writing. Use of any business/scientific jargon clearly explained; quality of writing and presentation of the report and use of the Harvard Referencing Style for any citations. (5%)
Things to note:
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