ch15
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ch15

Course Number: ACCT 433, Spring 2011

College/University: Lake Superior State...

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CHAPTER 15MANAGING SHORT-TERM ASSETS TRUE/FALSE 1. Firms hold cash balances in order to complete transactions that are necessary in business operations and as compensation to banks for providing loans and services. ANS: T DIF: Easy TOP: Motives for holding cash 2. Two of the primary motives for a firm to hold cash are the transaction motive and the precautionary motive. ANS: T DIF: Easy TOP: Motives for holding...

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15MANAGING CHAPTER SHORT-TERM ASSETS TRUE/FALSE 1. Firms hold cash balances in order to complete transactions that are necessary in business operations and as compensation to banks for providing loans and services. Register to View AnswerDIF: Easy TOP: Motives for holding cash 2. Two of the primary motives for a firm to hold cash are the transaction motive and the precautionary motive. Register to View AnswerDIF: Easy TOP: Motives for holding cash 3. A firm's target cash balance should be set as the smaller of (1) its transaction balance plus a precautionary (safety stock) balance or (2) its required compensating balance. Register to View AnswerDIF: Easy TOP: Target cash balance 4. For a firm that makes heavy use of float, being able to forecast its collections and disbursement check clearings is essential. Register to View AnswerDIF: Easy TOP: Using float 5. Lockbox arrangements are one way for a firm to speed up the receipt of payments from customers. Register to View AnswerDIF: Easy TOP: Lockbox 6. Target cash balances are generally not affected by compensating balance requirements except during periods of high interest rates and tight money. Register to View AnswerDIF: Easy TOP: Compensating balances 7. The primary purpose of compensating balances required of borrowers is to compensate the bank in the event the borrower defaults on the loan. Register to View AnswerDIF: Easy TOP: Compensating balances 8. Fixed dividend preferred stock is a good candidate for marketable security holdings designed to provide liquidity because 70 percent of the dividends are excludable from taxable income, hence the preferred would provide a relatively high after-tax rate of return. Register to View AnswerDIF: Easy TOP: Marketable securities portfolio 9. The term "interest rate price risk" refers to the probability that a firm will be unable to continue making interest payments on its debt. Register to View AnswerDIF: Easy TOP: Interest rate price risk 10. The benefits of a sound cash management program are not sensitive to interest rates. Register to View AnswerDIF: Easy TOP: Cash management sensitivity 11. If there are large fluctuations in a firm's cash flows, or if there are large costs associated with selling securities, then the firm should hold relatively small average cash balances. Register to View AnswerDIF: Easy TOP: Optimal cash balance 61 Chapter15ManagingShortTermAssets 12. The average accounts receivables balance is determined jointly by the volume of credit sales and the days sales outstanding. Register to View AnswerDIF: Easy TOP: Receivables balance 13. The four major elements in a firm's credit policy are (1) credit standards, (2) credit terms, (3) monitoring function, and (4) collection policy. Register to View AnswerDIF: Easy TOP: Credit policy 14. Credit associations and credit reporting agencies are two major sources of external credit information on credit customers. Register to View AnswerDIF: Easy TOP: Credit reporting 15. If you receive some goods on April 1 with the terms 3/20, net 30, June 1 dating, it means that you will receive a 3 percent discount if the bill is paid on or before June 20 and that the full amount must be paid 30 days after receipt of the goods. Register to View AnswerDIF: Easy TOP: Cash discounts 16. Offering trade credit discounts is costly to a firm and as a result, firms that offer trade discounts are usually those that are performing poorly and need cash quickly. Register to View AnswerDIF: Easy TOP: Trade discounts 17. Inventory management focuses on three basic questions: (1) how many units to hold in stock, (2) how many units of each item to order, and (3) at what point to reorder. Register to View AnswerDIF: Easy TOP: Inventory management 18. The central goal of inventory management is to provide sufficient incentives to ensure that the firm never suffers a stock-out (i.e., runs out of an inventory item). Register to View AnswerDIF: Easy TOP: Goal of inventory management 19. Inventory management is largely self-contained; that is, only minimum coordination among other departments such as sales, purchasing, and production is required for successful inventory management. Register to View AnswerDIF: Easy TOP: Inventory management interaction 20. Generally, ordering costs are the single most important cost element in inventory management, because they are greater in magnitude than carrying costs. Register to View AnswerDIF: Easy TOP: Ordering costs 21. The economic order quantity is that order quantity which results in the minimum ordering costs. Register to View AnswerDIF: Easy TOP: Ordering costs 22. If the unit sales of a firm double, the optimal order quantity as determined by the EOQ model will also double. Register to View AnswerDIF: Easy TOP: EOQ 23. If the forecasted sales or usage rate is not accurate, the EOQ model may not lead to efficient inventory management. Register to View AnswerDIF: Easy TOP: EOQ model and sales Chapter15ManagingShortTermAssets 62 24. The ABC method of inventory classification helps management concentrate resources on those inventory items that are most critical to the firm's operations. Register to View AnswerDIF: Easy TOP: Inventory classification 25. A just-in-time system of inventory control requires that manufacturers coordinate production with suppliers so that raw materials or components arrive just as they are needed in the production process. The main objective of such a system is to reduce carrying costs. Register to View AnswerDIF: Easy TOP: Just-in-time systems 26. The primary motivation behind out-sourcing is to provide the firm with an alternative source of supply in the event that its primary supplier is unable to meet the firm's raw material or component needs. Register to View AnswerDIF: Easy TOP: Out-sourcing 27. A Eurodollar is a U.S. dollar deposited in a bank outside the United States. Register to View AnswerDIF: Easy TOP: Eurodollars 28. Credit policy for the multinational firm is generally riskier due in part to the additional consideration of exchange rates and also due to uncertainty regarding the credit worthiness of many foreign customers. Register to View AnswerDIF: Easy TOP: International credit management 29. Exchange rates influence a multinational firm's inventory policy because changing currency values can affect the value of inventory. Register to View AnswerDIF: Easy TOP: Multinational inventory management 30. The threat of expropriation creates an incentive for the multinational firm to minimize inventory holdings and to bring in goods only as needed. Register to View AnswerDIF: Easy TOP: Expropriation and inventory 31. The credit period is length of time for which credit is granted; after that time, the credit account is considered delinquent. Register to View AnswerDIF: Easy TOP: Credit policy 32. The terms of credit include the length of the credit period and any cash discounts offered. Register to View AnswerDIF: Easy TOP: Credit policy 33. The collection policy refers to the procedures the firm follows to collect its credit accounts. Register to View AnswerDIF: Easy TOP: Credit policy 34. Two commonly used methods of monitoring receivables are the DuPont method and the aging schedule. Register to View AnswerDIF: Easy TOP: Monitoring receivables 35. All else equal, firms that hold greater amounts of short-term assets are considered more risky than firms that hold grater amounts of long-term securities. Register to View AnswerDIF: Easy TOP: Cash management 63 Chapter15ManagingShortTermAssets 36. Short term assets generally earn a higher rate of return than long-term assets, making short term assets a more desirable investment than long-term assets. Register to View AnswerDIF: Easy TOP: Cash management 37. The target cash balance is the minimum cash balance a firm desires to maintain in order to conduct business. Register to View AnswerDIF: Easy TOP: Target cash balance 38. The net float is the difference between the disbursement float and the collections float. Register to View AnswerDIF: Easy TOP: Net float 39. If the carrying costs of inventory increase then the economic ordering quantity of inventory will increase to insure the firm minimizes the total inventory costs. Register to View AnswerDIF: Easy TOP: EOQ 40. Synchronization of cash flows is an important cash management technique and effective synchronization can actually increase a firm's profitability. Register to View AnswerDIF: Medium TOP: Synchronization of cash flows 41. Collections float offsets disbursement float. If a firm's collections float is greater than its disbursement float then a firm is said to operate with positive net float. Register to View AnswerDIF: Medium TOP: Net float 42. A lockbox plan is one method of speeding up the check-clearing process for customer payments and decreasing the firm's net float position. Register to View AnswerDIF: Medium TOP: Using float 43. A firm has a daily average collection of checks equal to $250,000. It takes the firm approximately 4 days to convert the funds into usable cash. Assume (1) a lockbox system could be employed which would reduce the cash conversion procedure to 21/2 days, and (2) the firm could invest any additional cash received at 6 percent after taxes. The lockbox system would be a good buy if it costs only $23,000 annually. Register to View AnswerInterest earned = $250,000(1.5)(0.06) = $22,500. Thus, the cost ($23,000) exceeds the benefit ($22,500). DIF: Medium TOP: Lockbox 44. Borrowing and holding marketable securities are substitute financing alternatives, although the two strategies may have different costs. Register to View AnswerDIF: Medium TOP: Comparative financing 45. Other things equal and held constant, a firm with an effective accounts receivable monitoring system, when compared with a firm without such a monitoring system, will likely have lower additional funds needed. Register to View AnswerDIF: Medium TOP: A/R monitoring system Chapter15ManagingShortTermAssets 64 46. A firm's collection policy and the procedures it follows to collect accounts receivable play an important role in keeping its deferrables period short, although too strict a collection policy can result in outright losses due to non-payment. Register to View AnswerDIF: Medium TOP: Collection policy 47. In part because money has time value, cash sales are always more profitable and more valuable than credit sales. Register to View AnswerDIF: Medium TOP: Cash versus credit sales 48. Generally, the longer the normal inventory holding period of a customer the longer the credit period. One effect of extending the credit period to match the customer's merchandise holding period is to increase the customer's payables deferral period which actually serves to shorten the customer's cash conversion cycle. Register to View AnswerDIF: Medium TOP: Extending the credit period 49. If a firm's terms are 2/10, net 30 days, and its DSO is 28 days, we can be certain that the credit department is functioning efficiently and the percentage of past due accounts is minimal. Register to View AnswerDIF: Medium TOP: DSO and past due accounts 50. If your firm's DSO or aging schedule deteriorates from the first quarter of the year to the second quarter, this is a clear indication that your firm's credit policy has weakened. Register to View AnswerDIF: Medium TOP: Aging schedule and credit policy 51. If the average collection period or days sales outstanding is increasing the firm should consider easing its credit policy to allow credit to more of its customers. Register to View AnswerDIF: Medium TOP: Monitoring receivables MULTIPLE CHOICE 1. Which of the following is (are) typically part of the cash budget? a. Payment lag. b. Payment for plant construction. c. Cumulative cash. d. All of the above. e. Only answers a and c above. Register to View AnswerDIF: Easy OBJ: TYPE: Conceptual TOP: Cash budget 2. Which of the following statements concerning the cash budget is true? a. Depreciation expense is not explicitly included, but depreciation effects are implicitly included in estimated tax payments. b. Cash budgets do not include financial expenses such as interest and dividend payments. c. Cash budgets do not include cash inflows from long-term sources such as bond issues. d. Answers a and b above. e. Answers a and c above. Register to View AnswerDIF: Easy OBJ: TYPE: Conceptual TOP: Cash budget 65 Chapter15ManagingShortTermAssets 3. Which of the following actions in managing the cash account would, in general, either not be feasible or else not be consistent with the firm's wealth maximization objective? a. Increase synchronization of inflows and outflows. b. Use drafts for disbursing funds. c. Use a lockbox plan. d. Maintain an average balance which is equal to that required as a compensating balance or that which minimizes total cash management costs, whichever is lower. e. None of the above (all would be feasible and consistent actions). Register to View AnswerDIF: Easy TOP: Cash management OBJ: TYPE: Conceptual 4. A lockbox plan is a. A method for safe-keeping of marketable securities. b. Used to identify inventory safety stocks. c. A system for slowing down the collection of checks written by a firm. d. A system for speeding up a firm's collections of checks received. e. Not described by any of the above statements. Register to View AnswerDIF: Easy OBJ: TYPE: Conceptual TOP: Lockbox 5. Which of the following investments is not likely to be a proper investment for temporarily idle cash? a. Commercial paper. b. Treasury bills. c. Recently issued long-term corporate bonds. d. Government bonds due shortly. e. AT&T bonds due within one year. Register to View AnswerDIF: Easy OBJ: TYPE: Conceptual TOP: Investing cash 6. Which of the following is not a situation which might lead a firm to hold marketable securities: a. The firm has purchased a fixed asset which will require a large write-off of depreciable expense. b. The firm must meet a known financial commitment, such as financing an ongoing construction project. c. The firm must finance seasonal operations. d. The firm has just sold long-term securities and has not yet invested the proceeds in earning assets. e. None of the above (all of the situations might lead the firm to hold marketable securities). Register to View AnswerDIF: Easy TOP: Marketable securities investment OBJ: TYPE: Conceptual 7. Which of the following statements is correct? a. A lockbox system is an example of concentration banking. b. For a firm that has many divisions or plants operating over a wide geographic area, payables centralization offers little benefit. c. If a firm increases its disbursement float, its net float will also increase, other things held constant. d. There are no actions a firm can take to improve its synchronization of cash flows. e. A lockbox system does not affect collections float. Register to View AnswerDIF: Easy TOP: Miscellaneous concepts OBJ: TYPE: Conceptual Chapter15ManagingShortTermAssets 66 8. Analyzing days sales outstanding (DSO) and the aging schedule are two common methods for monitoring receivables. However, they can provide erroneous signals to credit managers when a. Customers' payments patterns are changing. b. Sales fluctuate seasonally. c. Some customers take the discount and others do not. d. Sales are relatively constant, either seasonally or cyclically. e. None of the above. Register to View AnswerDIF: Easy TOP: Monitoring receivables OBJ: TYPE: Conceptual 9. If easing a firm's credit policy lengthens the collection period and results in a worsening of the aging schedule then why do firms take such actions? a. It normally stimulates sales. b. To meet competitive pressures. c. To increase the firm's deferral period for payables. d. All of the above. e. Both a and b above. Register to View AnswerDIF: Easy OBJ: TYPE: Conceptual TOP: Credit policy 10. Which of the following statements is correct? a. The optimal credit policy is determined primarily by the industry in which the firm operates and by current economic conditions. b. Normally, when a credit sale is made, inventory is reduced by the cost of goods sold and an equal amount is credited to accounts receivable. c. A typical business credit report provides sufficient information to eliminate the need for informed human judgment in the credit decision. d. A customer's credit quality is usually determined in terms of the probability of the customer's default. e. Computers have had a significant effect in increasing efficiency in the areas of payroll and inventory, but have had little impact in accounts receivable management. Register to View AnswerDIF: Easy TOP: Credit policy/receivables OBJ: TYPE: Conceptual 11. In the text, the "red-line method" refers to a. The policy of drawing a red line around certain neighborhoods on a map and then refusing to sell on credit to people who live within those areas. b. Restrictions imposed by companies which insure credit risks. c. The use, in Dun & Bradstreet's reports, of a red line to show the maximum amount of credit which should be extended to a given customer; companies using this limit when they screen customers' orders are said to be using the "red-line method." d. A method of controlling inventories by drawing a red line on the inside of a bin. e. A method of controlling receivables by drawing a red line on invoices of companies that are expected to pay late. Register to View AnswerDIF: Easy TOP: Inventory management OBJ: TYPE: Conceptual 67 Chapter15ManagingShortTermAssets 12. Which of the following might be attributed to efficient inventory management? a. High inventory turnover ratio. b. Low incidence of production schedule disruptions. c. High total asset turnover. d. All of the above. e. Only answers a and c above. Register to View AnswerDIF: Easy TOP: Efficient inventory management OBJ: TYPE: Conceptual 13. Which of the following is not a reason for a firm to hold cash balances? a. To cover routine payments and collections. b. To earn high rates of interest. c. To meet compensating balance requirements of banks. d. To provide a safety stock in the event of unforeseen fluctuations into cash flows. e. To take advantage of bargain purchases that might arise. Register to View AnswerDIF: Easy TOP: Cash management OBJ: TYPE: Conceptual 14. A minimum checking account balance that a firm must maintain with bank to help offset the costs and services such as check clearing and cash management advice is called a __________ balance. a. transactions b. compensating c. precautionary d. speculative e. convertible Register to View AnswerDIF: Easy TOP: Cash management OBJ: TYPE: Conceptual 15. A cash balance that is held to enable the firm to take advantage of any bargain purchases that might arise is called a __________ balance. a. transactions b. compensating c. precautionary d. speculative e. convertible Register to View AnswerDIF: Easy TOP: Cash management OBJ: TYPE: Conceptual 16. A cash balance held in reserve for unforeseen fluctuation in cash flows is called a __________ balance. a. transactions b. compensating c. precautionary d. speculative e. cash Register to View AnswerDIF: Easy TOP: Cash management OBJ: TYPE: Conceptual Chapter15ManagingShortTermAssets 68 17. Having synchronized cash flows enables a firm to a. increase its cash balances. b. increase its bank loans. c. increase interest expense. d. increase profits. e. None of the above. Register to View AnswerDIF: Easy TOP: Synchronization of cash flows OBJ: TYPE: Conceptual 18. The value of checks that have been written and disbursed but have not been deducted from the account on which they were written is the __________ float. a. disbursement b. net c. collections d. balance e. deposit Register to View AnswerDIF: Easy TOP: Cash management OBJ: TYPE: Conceptual 19. The amount of checks that have been received and deposited but have not yet been made available to the account in which they were deposited is the __________ float. a. disbursement b. net c. collections d. balance e. deposit Register to View AnswerDIF: Easy TOP: Cash management OBJ: TYPE: Conceptual 20. What type of system allows a customer's bank to periodically transfer funds from its account to a selling firm's bank account for payment of bills? a. Disbursement agreement. b. Preauthorized debit system. c. Lockbox agreement. d. Concentration banking system. e. Zero-balance account. Register to View AnswerDIF: Easy TOP: Cash management OBJ: TYPE: Conceptual 21. Which of the following will help a firm accelerate the collection of customer's payments and the conversion of those payments into cash? a. Lockbox agreement. b. Preauthorized debit system. c. Concentration banking. d. All of the above. e. Only answers a and c. Register to View AnswerDIF: Easy TOP: Speeding up collections OBJ: TYPE: Conceptual 69 Chapter15ManagingShortTermAssets 22. __________ is a technique used to reduce float by having payments sent to post office boxes located near the customer. a. Postal deposit system b. Preauthorized debit system c. Concentration banking d. Lockbox arrangement e. Zero-balance account Register to View AnswerDIF: Easy OBJ: TYPE: Conceptual TOP: Lockbox 23. Which of the following is one of the common methods used to control disbursements or cash outflows? a. Lockbox agreement. b. Zero-balance account. c. Concentration banking. d. All of the above. e. Only answers b and c. Register to View AnswerDIF: Easy TOP: Disbursement control OBJ: TYPE: Conceptual 24. Which of the following is not a reason for firms to own marketable securities? a. Marketable securities serve as a substitute for cash balances. b. Marketable securities offer a place to temporarily put cash balance to work earning a positive return. c. Marketable securities are used as a temporary investment to finance seasonal or cyclical operations. d. Marketable securities are used as a temporary investment to amass funds to meet financial requirements in the near future. e. Marketable securities are more liquid than cash balances. Register to View AnswerDIF: Easy TOP: Marketable securities OBJ: TYPE: Conceptual 25. A liquid asset is an asset can be sold in a __________ period of time at a price __________ its fair market value. a. relatively long; way below b. relatively long; near c. relatively short; way below d. relatively short; near e. None of the above. Register to View AnswerDIF: Easy OBJ: TYPE: Conceptual TOP: Liquidity 26. A report showing how long accounts receivable have been outstanding is called what? a. Time line. b. Preauthorized debit system. c. Aging schedule. d. Cash discount. e. Credit period. Register to View AnswerDIF: Easy TOP: Aging schedule and credit policy OBJ: TYPE: Conceptual Chapter15ManagingShortTermAssets 70 27. Which of the following statements is correct? a. Shorter term cash budgets, in general, are used primarily for planning purposes while longer term budgets are used for actual cash control. b. The cash budget and the capital budget are planned separately and although they are both important to the firm, they are independent of each other. c. Since deprecation is a non-cash charge, it does not appear on nor have an effect on the cash budget. d. The target cash balance is set optimally such that it need not be adjusted for seasonal patterns and unanticipated fluctuations in receipts, although it is changed to reflect longterm changes in the firm's operations. e. The typical actual cash budget will reflect interest on loans and income from investment of surplus cash. These numbers are expected values and actual results might turn out differently. Register to View AnswerDIF: Medium OBJ: TYPE: Conceptual TOP: Cash budget 28. Which of the statements following about cash management is false? a. Depreciation expense does not appear explicitly on the cash budget, but its tax effects are included. b. If cash flows are not uniform during the month, then weekly or perhaps daily cash budgets should be prepared rather than monthly budgets. c. Compensating balance requirements do not affect a firm's target cash balance. d. Cash management involves costs, and it is important to analyze whether the benefits received outweigh the costs incurred. e. The cash budget is the foundation of good cash management. Register to View AnswerDIF: Medium TOP: Cash management OBJ: TYPE: Conceptual 29. Which of the following statement completions is correct? If the yield curve is upward sloping, then a firm's marketable securities portfolio, assumed to be held for liquidity purposes, should be a. Weighted toward long-term securities because they pay higher rates. b. Weighted toward short-term securities because they pay higher rates. c. Weighted toward U.S. Treasury securities to avoid interest rate risk. d. Weighted toward short-term securities to avoid interest rate risk. e. Balanced between long- and short-term securities to minimize the effects of either an upward or a downward trend in interest rates. Register to View AnswerDIF: Medium TOP: Marketable securities portfolio OBJ: TYPE: Conceptual 30. Which of the following statements is correct? a. Poor synchronization of cash flows which results in high cash management costs can be partially offset by increasing disbursement float and decreasing collections float. b. The size of a firm's net float is primarily a function of its natural cash flow synchronization and how it clears its checks. c. Lockbox systems are used mainly for security purposes as well as to decrease the firm's net float. d. If a firm can speed up its collections and slow down its disbursements, it will be able to reduce its net float. e. A firm practicing good cash management and making use of positive net float will bring its check book balance as close to zero as possible, but must never generate a negative book balance. Register to View AnswerDIF: Medium OBJ: TYPE: Conceptual TOP: Managing float 71 Chapter15ManagingShortTermAssets 31. Which of the following statements is correct? a. Compensating balance requirements apply only to businesses, not to individuals. b. Compensating balances are essentially costless to most firms, because those firms would normally have such funds on hand to meet transactions needs anyway. c. If the required compensating balance is larger than the transactions balance the firm would ordinarily hold, then the effective cost of any loan requiring such a balance is increased. d. Banks are prohibited from earning interest on the funds they force businesses to keep as compensating balances. e. All of the above statements are correct. Register to View AnswerDIF: Medium TOP: Compensating balances OBJ: TYPE: Conceptual 32. Which of the following statements is correct? a. Depreciation is included in the estimate of cash flows (Cash flow = Net income + Depreciations), so depreciation is set forth on a separate line in the cash budget. b. If cash inflows and cash outflows occur on a regular basis, such as the situation where inflows from collections occur in equal amounts each day and most payments are made regularly on the 10th of each month, then it is not necessary to use a daily cash budget. A cash budget prepared at the end of the month will suffice. c. Lockboxes are more important for fast food retailers such as McDonald's which deal primarily with cash than for manufacturers such as Xerox which are generally paid by check. d. A concentration banking system should not be used by firms that collect customers' payments using lockbox arrangements. e. Statements a, b, c, and d are all false. Register to View AnswerDIF: Medium TOP: Miscellaneous concepts OBJ: TYPE: Conceptual 33. Which of the following statements is correct? a. A firm which makes 90 percent of its sales on credit and 10 percent for cash is growing at a rate of 10 percent annually. If the firm maintains stable growth it will also be able to maintain its accounts receivable at its current level, since the 10 percent cash sales can be used to manage the 10 percent growth rate. b. In managing a firm's accounts receivable it is possible to increase credit sales per day yet still keep accounts receivable fairly steady if the firm can shorten the length of its collection period. c. If a firm has a large percentage of accounts over 30 days old, it is a sign that the firm's receivables management needs to be reviewed and improved. d. Since receivables and payables both result from sales transactions, a firm with a high receivables-to-sales ratio should also have a high payables-to-sales ratio. Register to View AnswerDIF: Medium TOP: Receivables management OBJ: TYPE: Conceptual Chapter15ManagingShortTermAssets 72 34. Which of the following statements is correct? a. If a firm's volume of credit sales declines then its DSO will also decline. b. If a firm changes its credit terms from 1/20, net 40 days, to 2/10, net 45 days, the impact on sales can't be determined because the increase in the discount is offset by the longer net terms which tends to reduce sales. c. The DSO of a firm with seasonal sales can vary because while the sales per day figure is usually based on the total annual sales, the accounts receivable balance will be high or low depending on the season. d. An aging schedule is used to determine what portion of customers pay cash and what portion buy on credit. e. Aging schedules can be constructed from the summary data provided in the firm's financial statements. Register to View AnswerDIF: Medium TOP: DSO and aging schedule OBJ: TYPE: Conceptual 35. Which of the following statements is correct? a. Other things held constant, the higher a firm's days sales outstanding (DSO), the better its credit department. b. A firm will relax its credit standards only if it expects bad debts will not increase because of the change. c. If a firm which sells on terms of "net 30" changes its policy and begins offering all customers terms of "2/10, net 30," and if no change in sales volume occurs, then the firm's DSO will probably increase. d. If a firm sells on terms of 2/10, net 30, and its DSO is 30 days, then its aging schedule would probably show some past due accounts. e. Statements a, b, c, and d are all false. Register to View AnswerDIF: Medium TOP: Days sales outstanding (DSO) OBJ: TYPE: Conceptual 36. Which of the following would cause average inventory holdings to decrease, other things held constant? a. Fixed order costs double. b. The purchase price of inventory items decreases by 50 percent. c. The carrying cost of an item decreases (as a percent of purchase price). d. The sales forecast is revised downward by 10 percent. e. None of the above (all would cause average inventory to increase). Register to View AnswerDIF: Medium TOP: Average inventory OBJ: TYPE: Conceptual 37. Which of the following activities will increase the short-term net cash flow for a firm? a. Increase a cash bonus for employees. b. Increase the firm's days sales outstanding ratio without an increase in sales. c. Write off old accounts receivable that are considered uncollectible. d. Increase the average amount of time the firm takes to pay accounts. e. Increase the time you allow the firm's customers to pay for goods. Register to View AnswerDIF: Medium OBJ: TYPE: Conceptual TOP: Cash budget 73 Chapter15ManagingShortTermAssets 38. The Danser Company expects to have sales of $30,000 in January, $33,000 in February, and $38,000 in March. If 20 percent of sales are for cash, 40 percent are credit sales paid in the month following the sale, and 40 percent are credit sales paid 2 months following the sale, what are the cash receipts from sales in March? a. $55,000 b. $47,400 c. $38,000 d. $32,800 e. $30,000 Register to View AnswerMarch receipts = (0.20) ($38,000) + (0.40) ($33,000) + (0.40) ($33,000) = $32,800. DIF: Easy OBJ: TYPE: Problem TOP: Sales collections 39. Jumpdisk Company writes checks averaging $15,000 a day, and it takes 5 days for these checks to clear. The firm also receives checks in the amount of $17,000 per day, but the firm loses three days while its receipts are being deposited and cleared. What is the firm's net float in dollars? a. $126,000 b. $75,000 c. $32,000 d. $24,000 e. $16,000 Register to View AnswerPositive disbursement float = $15,000(5) = $75,000. Negative collections float = $17,000(3) = $51,000. Net float = $75,000 - $51,000 = $24,000. DIF: Easy OBJ: TYPE: Problem TOP: Net float 40. Chadmark Corporation's budgeted monthly sales are $3,000. Forty percent of its customers pay in the first month and take the 2 percent discount. The remaining 60 percent pay in the month following the sale and don't receive a discount. Chadmark's bad debts are very small and are excluded from this analysis. Purchases for next month's sales are constant each month at $1,500. Other payments for wages, rent, and taxes are constant at $700 per month. Construct a single month's cash budget with the information given and determine the average cash gain or (loss) during a typical month for Chadmark Corporation. a. $2,600 b. $800 c. $776 d. $740 e. $728 Register to View AnswerConstruct a simplified cash budget: Sales Collections (same month's sales) Collections (last month's sales) Total collections $3,000 1,176 (0.98 0.40 3,000) 1,800 (1.00 0.60 3,000) $2,976 Chapter15ManagingShortTermAssets 74 Purchases payments Other payments Total payments Net cash gain (loss) Net cash gain is $776.00. DIF: Easy OBJ: TYPE: Problem 1,500 700 $2,200 $776 TOP: Cash budget net cash gain 41. For the Prince Company, the average age of accounts receivable is 60 days, the average age of accounts payable is 45 days, and the average age of inventory is 72 days. Assume a 360-day year. If Prince's annual sales are $936,000, what is the firm's average accounts receivable balance? a. $104,000 b. $118,000 c. $156,000 d. $212,000 e. $260,000 Register to View AnswerSales per day = $936,000/360 = $2,600 Average accounts receivable balance = $2,600 60 days = $156,000. DIF: Easy OBJ: TYPE: Problem TOP: Investment in receivables 42. Calculate the economic ordering quantity for Nashville Records Inc., given the following information: Sales = 15,000 units per year Sales price = $10 per unit Purchase price = $5 Carrying cost = 0.25 times inventory value Fixed cost per order = $1,000 a. b. c. d. e. 3,464 units 4,899 units 346 units 490 units 1,549 units Register to View Answer DIF: Easy OBJ: TYPE: Problem TOP: EOQ 43. Ace Hardware's EOQ is 100 widgets, and it maintains a 50 unit safety stock. Which of the following is Ace's average inventory? a. 100 units b. 60 units c. 57.07 units d. 12.25 units e. 75 units Register to View AnswerAverage inventory = EOQ/2 + Safety stock = 100/2 + 50 = 100 units. DIF: Easy OBJ: TYPE: Problem TOP: Average inventory 75 Chapter15ManagingShortTermAssets 44. Cross Collectibles currently fills mail orders from all over the U.S. and receipts come in to headquarters in Little Rock, Arkansas. The firm's average accounts receivable (A/R) is $2.5 million and is financed by an 11 percent annual, simple interest bank loan. Cross is considering a regional lockbox system to speed up collections which it believes will reduce A/R by 20 percent. The annual cost of the system is $15,000. What is the estimated net annual savings to the firm from implementing the lockbox system? a. $500,000 b. $30,000 c. $60,000 d. $55,000 e. $40,000 Register to View AnswerCalculate the net reduction in A/R: Current A/R = $2,500,000. New A/R with 20% reduction: $2,500,000 - 0.20($2,500,000) = $2,000,000. Net reduction in A/R = $500,000. Calculate the interest savings and net savings: Interest savings = $500,000(0.11) = $55,000. Net savings = Interest savings - Annual lockbox cost = $55,000 - $15,000 = $40,000. OBJ: TYPE: Problem TOP: Lockbox system DIF: Medium 45. Fullerton Wine Company is a retailer which sells vintage wines. The company has established a policy of reordering inventory every 30 days. A recently employed MBA has considered Fullerton's inventory problem from the EOQ model viewpoint. If the following constitute the relevant data, how does the current policy compare with the optimal policy? Ordering cost = $10 per order Carrying cost = 20% of purchase price Purchase price = $10 per unit Total sales for year = 1,000 units Safety stock = 0 a. b. c. d. e. Total costs will be the same, since the current policy is optimal. Total costs under the current policy will be less than total costs under the EOQ by $10. Total costs under the current policy exceed those under the EOQ by $3. Total costs under the current policy exceed those under the EOQ by $10. Cannot be determined due to insufficient information. Register to View Answer Total costsEOQ = Units per order under current policy: = 12 orders Chapter15ManagingShortTermAssets 76 = 83 units per order Total costCurrent policy = Thus, Total CostCurrent policy - Total costEOQ = $203 - $200 = $3. Total cost of current policy exceed total cost of EOQ by $3.00. DIF: Medium OBJ: TYPE: Problem TOP: Total inventory costs 46. Bass Boats Inc. currently has sales of $1,000,000, and its days sales outstanding is 30 days. The financial manager estimates that offering longer credit terms would (1) increase the days sales outstanding to 50 days and (2) increase sales to $1,200,000. However, bad debt losses, which were 2 percent on the old sales, would amount to 5 percent on the incremental sales only (bad debts on the old sales would stay at 2 percent). Variable costs are 80 percent of sales, and Bass has a 15 percent receivables financing cost. What would the annual incremental pre-tax profit be if Bass extended its credit period? a. -$20,000 b. -$10,000 c. $0 d. $10,000 e. $20,000 Register to View AnswerDSO0 = 30 days; DSON = 50 days. No discounts. Calculate cost of carrying receivables at current and new sales levels: Cost of carrying receivables = DSO(Sales/Day)(Variable cost ratio)(Cost of funds) Sales at $1,000,000: 30($1,000,000/360)(0.8)(0.15) = $10,000. Sales at $1,200,000: 50($1,200,000/360)(0.8)(0.15) = $20,000. Analysis of policy change: Net sales Production costs Profit before credit costs Cost of carrying receivables Bad debt losses* Pre-tax profits * Current Projections $1,000,000 (800,000) $ 200,000 (10,000) (20,000) $ 170,000 Effect of Credit Policy Change $200,000 (160,000) $ 40,000 (10,000) (10,000) $ 20,000 New Projections $1,200,000 (960,000) $ 240,000 (20,000) (30,000) $ 190,000 Bad debt losses old: $1,000,000(0.02) = $20,000. Bad debt losses new: $1,000,000(0.02) + $200,000(0.05) = $30,000. The annual incremental pre-tax profit with the change in policy is $20,000. DIF: Tough OBJ: TYPE: Problem TOP: Change in credit policy 77 Chapter15ManagingShortTermAssets 47. Reston Inc. has expected sales of $17,000,000. While 10 percent of its customers pay cash, the remaining 90 percent pay on credit with 40 percent paying on Day 10, 30 percent paying on Day 20, 15 percent paying on Day 25, and 15 percent paying on Day 30. Assume that the cost of funds invested in receivables is 10 percent. Suppose that the firm's customers begin paying later, such that the new DSO increases to 24 days, that the firm uses a 360-day year, and that the firm's variable cost ratio is 80 percent. What is the additional interest cost to Reston of the additional investment in A/R caused by the delay in payment by its customers? a. $19,550 b. $24,438 c. $42,500 d. $78,625 e. $102,000 Register to View AnswerCalculate credit sales per day: Expected sales = $17,000,000. Sales on credit = $17,000,000 0.90 = $15,300,000. Credit sales per day = $15,300,000/360 = $42,500. Calculate old DSO and A/R investment at old and new DSO: DSO = (10 days 0.40) + (20 days 0.30) + (25 days 0.15) + (30 days 0.15) = 4.0 days + 6.0 days + 3.75 days + 4.5 days = 18.25 days. Current investment in A/R = 18.25 $42,500 0.8 = $620,500. Expected investment in A/R = 24.0 $42,500 0.8 = $816,000. Calculate increase in interest cost: 0.10 ($816,000 - $620,500) = 0.10 $195,500 = $19,550. DIF: Tough OBJ: TYPE: Problem TOP: Cost of late payment East Lansing Appliances East Lansing Appliances (ELA) expects to have sales this year of $15 million under its current credit policy. The present terms are net 30; the days sales outstanding (DSO) is 60 days; and the bad debt loss percentage is 5 percent. Since ELA wants to improve its profitability, the treasurer has proposed that the credit period be shortened to 15 days. This change would reduce expected sales by $500,000, but it would also shorten the DSO on the remaining sales to 30 days. Expected bad debt losses on the remaining sales would fall to 3 percent. The variable cost percentage is 60 percent, and the cost of capital is 15 percent. 48. Refer to East Lansing Appliances. What would be the incremental bad debt losses if the change were made? a. $315,000 b. $260,500 c. -$260,500 (bad debt losses would decline) d. -$315,000 (bad debt losses would decline) e. $0 (no change would occur) Register to View AnswerBad debt losses old: (0.05)($15,000,000) = $750,000. Bad debt losses new: (0.03)($14,500,000) = $435,000. Change in bad debt losses = $435,000 - $750,000 = -$315,000. Chapter15ManagingShortTermAssets 78 DIF: Easy OBJ: TYPE: Problem TOP: Bad debt losses 49. Refer to East Lansing Appliances. What would be the incremental cost of carrying receivables if this change were made? a. $108,750 b. -$116,250 (carrying costs would decline) c. $157,900 d. -$225,000 (carrying costs would decline) e. $260,500 Register to View AnswerDSO0 = 60 days; DSON = 30 days. No discounts. Calculate cost of carrying receivables at current and new sales levels: Cost of carrying receivables = DSO(Sales/Day)(Variable cost ratio)(Cost of funds) Sales at $15,000,000: 60($15,000,000/360)(0.6)(0.15) = $225,000. Sales at $14,500,000: 30($14,500,000/360)(0.6)(0.15) = $108,750. Change = $108,750 - $225,000 = -$116,250. DIF: Medium OBJ: TYPE: Problem TOP: Cost of carrying receivables 50. Refer to East Lansing Appliances. What are the incremental pre-tax profits from this proposal? a. $181,250 b. $271,750 c. $256,250 d. $206,500 e. $231,250 Register to View AnswerAnalysis of policy change: Current Projections $15,000,000 (9,000,000) $ 6,000,000 (225,000) (750,000) $ 5,025,000 Effect of Credit Policy Change ($500,000) 300,000 ($200,000) 116,250 315,000 $231,250 New Projections $14,500,000 (8,700,000) $ 5,800,000 (108,750) (435,000) $ 5,256,250 Net sales Production costs Profit before credit costs Cost of carrying receivables Bad debt losses Pre-tax profits DIF: Medium Change in incremental pre-tax profits = $231,250. OBJ: TYPE: Problem TOP: Incremental profits 79 Chapter15ManagingShortTermAssets Aberwald Corporation Aberwald Corporation expects to order 126,000 memory chips for inventory during the coming year, and it will use this inventory at a constant rate. Fixed ordering costs are $200 per order; the purchase price per chip is $25; and the firm's inventory carrying cost is equal to 20 percent of the purchase price. (Assume a 360-day year.) 51. Refer to Aberwald Corporation. What is the economic ordering quantity for chips? a. 12,088 b. 3,175 c. 6,243 d. 13,675 e. 8,124 Register to View Answer DIF: Easy OBJ: TYPE: Problem TOP: EOQ 52. Refer to Aberwald Corporation. If Aberwald holds a safety stock equal to a 30-day supply of chips, what is its average inventory level? a. 12,088 b. 3,175 c. 15,750 d. 13,675 e. 8,124 Register to View AnswerAverage inventory level = = 1,587.50 + 10,500 = 12,087.50 DIF: Easy OBJ: TYPE: Problem 12,088. TOP: Average inventory 53. Refer to Aberwald Corporation. Assume that Aberwald holds a safety stock equal to a 30-day supply of chips. What is the maximum amount of inventory that Aberwald will have on hand at any time; that is, what will be the inventory level right after a delivery is made? a. 9,216 b. 3,175 c. 6,243 d. 13,675 e. 8,124 Register to View AnswerMaximum inventory level = EOQ + Safety stock = 3,175 + 10,500 = 13,675. DIF: Easy OBJ: TYPE: Problem TOP: Maximum inventory Chapter15ManagingShortTermAssets 80 54. Refer to Aberwald Corporation. How many orders should Aberwald place during the year? a. 12 b. 25 c. 30 d. 40 e. 60 Register to View AnswerNumber of orders = DIF: Easy = 39.69 40. TOP: Orders per year OBJ: TYPE: Problem 55. Refer to Aberwald Corporation. If the lead time for placing an order is 5 days, and Aberwald holds a safety stock equal to a 30-day supply of chips, then at what inventory level should an order be placed? a. 15,570 b. 3,175 c. 12,250 d. 13,675 e. 8,124 Register to View AnswerReorder point = DIF: Medium = 1,750 + 10,500 = 12,250. OBJ: TYPE: Problem TOP: Ordering inventory 56. Refer to Aberwald Corporation. If Aberwald holds a safety stock equal to a 30-day supply of chips, what is Aberwald's minimum cost of ordering and carrying inventory? a. $28,500 b. $15,950 c. $68,440 d. $34,220 e. $47,693 Register to View AnswerAverage inventory is rounded to 12,088 = EOQ/2 + (126,000/360)(30). Number of orders is rounded to 40 126,000/3,175. Total cost = 40($200) + ($12,088)($25)(0.20) = $68,440. DIF: Medium OBJ: TYPE: Problem TOP: Total inventory costs Fashion Clothiers Inc. Assume that Fashion Clothiers Inc. uses 1,440,000 yards of material each year. Further, assume that Fashion can order the material at a cost of $2 per yard, plus fixed ordering costs of $100 per order. The firm's carrying cost is 20 percent of the inventory value, at cost. 57. Refer to Fashion Clothiers Inc. What is the firm's EOQ? a. 26,833 b. 30,040 c. 43,987 d. 15,218 e. 21,456 81 Chapter15ManagingShortTermAssets Register to View Answer DIF: Easy OBJ: TYPE: Problem TOP: EOQ 58. Refer to Fashion Clothiers Inc. What is Fashion Clothiers' minimum cost of ordering and holding inventory? a. $6,254 b. $10,733 c. $11,560 d. $13,563 e. $19,825 Register to View AnswerEOQ is rounded to 26,833, from previous question. Total cost = = $5,366.60 + $5,366.53 = $10,733.13 DIF: Easy OBJ: TYPE: Problem $10,733. TOP: Total inventory costs 59. Refer to Fashion Clothiers Inc. Now, suppose the manufacturer offers a discount of 0.5 percent for orders of at least 40,000 yards. Should Fashion Clothiers increase its ordering quantity to take the discount? a. Yes; it will save $827 if it takes the discount. b. No; it will lose $827 if it takes the discount. c. Yes; it will save $14,400 if it takes the discount. d. Yes; it will save $13,573 if it takes the discount. e. No; it will lose $13,573 if it takes the discount. Register to View AnswerTotal inventory cost with discount = = $7,960 + $3,600 = $11,560. Incremental costs = $11,560 - $10,733 = $827. Savings from discount = ($2)(0.005)(1,440,000) = $14,400. Net savings = $14,400 - $827 = $13,573 DIF: Medium OBJ: TYPE: Problem TOP: Quantity discounts

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Lake Superior State University - ACCT - 433
CHAPTER 16MANAGING SHORT-TERM LIABILITIES (FINANCING)TRUE/FALSE1. If a firm is offered credit terms of 2/10, net 30, it is in the firm's financial interest to pay as early during the discount period as possible. ANS: F DIF: Easy TOP: Trade credit terms
Lake Superior State University - ACCT - 433
CHAPTER 17FINANCIAL PLANNING AND CONTROLTRUE/FALSE1. Errors in the sales forecast can be offset by similar errors in costs and income forecasts. Thus, as long as the errors are not large, sales forecast accuracy is not critical to the firm. ANS: F DIF:
Lake Superior State University - ACCT - 433
CHAPTER 18ALTERNATIVE FINANCING ARRANGEMENTS & CORPORATE RESTRUCTURINGTRUE/FALSE1. Leasing is typically a financing decision and not a capital budgeting decision. Thus, the availability of lease financing cannot affect the capital budgeting decision. AN
University of Texas - PHY - 301
armington (kma786) hw0215 ete (57165) This print-out should have 6 questions. Multiple-choice questions may continue on the next column or page nd all choices before answering. 001 10.0 points An elevator is being lifted up an elevator shaft at a constant
University of Texas - PHY - 301
armington (kma786) hw0210 ete (57165) This print-out should have 13 questions. Multiple-choice questions may continue on the next column or page nd all choices before answering. 001 10.0 points A space station in the form of a large wheel, 341 m in diamet
University of Texas - M - 408S
armington (kma786) 8.1 Stepp (55860) This print-out should have 6 questions. Multiple-choice questions may continue on the next column or page nd all choices before answering. 001 10.0 points 3. I = 4. I =e11. I = 2. I =12 5 x sin 2x x cos 2x + sin 2x
University of Texas - M - 408S
armington (kma786) Chapter 7 Stepp (55860) This print-out should have 6 questions. Multiple-choice questions may continue on the next column or page nd all choices before answering. 001 10.0 points At x = 1, therefore, f (1) = 002 60 4 7 e. 7 7110.0 poi
Universitas Indonesia - MGMT - 12085
Materi buku ajar tentang penganggaran modal
Universitas Indonesia - MGMT - 12085
BAB I PENDAHULUANPengertian Manajemen KeuanganManajemen Keuangan adalah aktivitas pemilik dan manajemen perusahaan untuk memperoleh sumber modal yang semurah-murahnya dan menggunakannya se-efektif, se-efisien, seproduktif mungkin untuk menghasilkan laba
Universitas Indonesia - MGMT - 12085
BAB II NILAI UANG TERKAIT DENGAN WAKTU (Time Value Of Money)1. PengertianDunia bisnis adalah aktivitas uang sebagai. Kapital akhir periode (K2) harus lebih besar dari pada kapital awal periode (K1), itu artinya bisnis memperoleh laba, atau dapat dikatak
Universitas Indonesia - MGMT - 12085
BAB III PENYUSUTAN DAN PAJAK1. Peraturan PerpajakanNegara memungut pajak untuk membiayai administrasi pemerintahnya. Makin besar biaya pemerintah, makin tinggi pajak yang dipungut, dan makin berat beban rakyat. Peraturan perpajakan Negara-negara di duni
Universitas Indonesia - MGMT - 12085
BAB 4 PASAR MODALA. SISTEM KEUANGANUang sebagai subyek dan sekaligus obyek itu dapat membentuk system yang disebut system keuangan, yaitu perpindahan dari pihak yang memiliki kelebihan uang ke pihak yang membutuhkan uang yang menciptakan harta keuangan
Universitas Indonesia - MGMT - 12085
BAB 5 HASIL DAN RISIKOA. RISIKO BISNISDalam dunia bisnis ada dalil klasik yakni menanggung risiko yang sekecilkecilnya untuk memperoleh hasil sebesar-besarnya. Kenyataannya bagi kaum kapiltalis adalah : (1) enggan menananggung risiko atau berupaya mempe
Universitas Indonesia - MGMT - 12085
BAB 6 PENYAJIAN LAPORAN KEUANGANKegiatan bisnis adalah mencari keuntungan yang digerakkan oleh kapital. Kapital ialah uang, barang, ilmu, teknologi, dan kemampuna Sumber Daya Manusia yang digunakan untuk mencari keuntungan. Kaum yang memiliki kapital unt
Universitas Indonesia - MGMT - 12085
BAB 7 ANALISIS KINERJA KEUANGAN (Financial Performance Analisis)Kinerja Keuangan ialah hasil kegiatan operasi perusahaan yang disaikan dalam bentuk angka-angka keuangan. Hasil kegiatan perusahaan periode sekarang haeus dibandingkan dengan: (1) Kinerja ke
Universitas Indonesia - MGMT - 12085
BAB 8 PERENCANAAN KEUANGANPerencanaan keuangan suatu perusahaan pada umumnya disajikan dengan model : (1) anggaran, (2) titik impas, (3) tingkat leverage operasi, dan (4) return on investment atau ROIAnggaranHasil peramalan keuangan tabel 8.3 (mengenai
Universitas Indonesia - MGMT - 12085
BAB 9 MANAJEMEN KASKas merupakan awal dari investasi dan operasi dari suatu perusahaan. Kas terdiri dari mata uang (currency), giro, dan rekening koran di bank (bank deposits). Perusahaan atau perseorangan menyimpan uang tunai (kas) untuk motif transaksi
Universitas Indonesia - MGMT - 12085
BAB 10 MANAJEMEN PIUTANGPada umumnya perusahaan menjual hasil produksinya secara kredit, kemudian melahirkan piutang dagang; penagihan piutang melahirkan kas. Hubungan antara piutang dengan kas adalah sebagai berikut: Kas Persediaan Barang Jadi Piutang K
Universitas Indonesia - MGMT - 12085
BAB 11 MANAJEMEN PERSEDIAANKegiatan bisnis yang memerlukan manajemen persediaan adalah bidang industri manufaktur dan perdagangan. Dalam industri manufaktur, persediaan terdiri dari: (1)persediaan bahan baku, (2)persediaan barang dalam proses, (3)persedi
Universitas Indonesia - MGMT - 12085
BAB 12 MANAJEMEN MODAL KERJAModal kerja adalah investasi dalam harta jangka pendek atau investasi dalam harta lancar (current assets). Modal kerja dapat dikategorikan menjadi dua yaitu modal kerja kotor (gross working capital) dan modal kerja bersih (net
Universitas Indonesia - MGMT - 12085
BAB 13. MANAJEMEN HARTA KEUANGANPerusahaan besar pada umumnya memiliki investasi di beberapa perusahaan yang berupa surat-surat berharga saham dan obligasi. Tujuannya adalah untuk mendapatkan deviden (saham) dan bunga (obligasi). Investasi yang dimiliki
Universitas Indonesia - MGMT - 12085
BAB I MERENCANAKAN BISNIS 1.1. Membangun Mindset berbisnis Di era globalisasi ini, sudah saatnya bangsa Indonesia memikirkan cara mencari terobosan dengan menanamkan sedini mungkin tentang nilai-nilai kewirausahaan terutama bagi kalangan terdidik, terlebi
Universitas Indonesia - MGMT - 12085
BAB II MENJALANKAN BISNIS Untuk memulai sebuah usaha memang harus didahului dengan taktik dan strategi. Membuat usaha yang besar tidak selalu membutuhkan modal yang besar. Mengawalinya dengan modal kecil pun sebuah usaha bisa tumbuh menjadi besar. Pengemb
Universitas Indonesia - MGMT - 12085
BAB III ASPEK Manajemen 3.1. Pengelolaan Manajemen Dalam Menjalankan sebuah bisnis, manajemen merupakan faktor yang paling penting karena tan pa manajemen perusahaan tidak akan terkelola dengan baik dan benar. dalam menjalankan perusahaan ada beberapa asp
Universitas Indonesia - MGMT - 12085
BAB IV Aspek Pasar Tantangan utama perusahaan- perusahaan adalah bagaimana membangun dan mempertahankan bisnis yang sehat dalam pasar dan lingkungan yang terus berubah. Agar perusahaan tetap dapat survive perusahaan harus mampu mengenali pelanggannya. Den
Universitas Indonesia - MGMT - 12085
BAB V ASPEK PEMASARAN 5.1. Pengertian Pemasaran Pemasaran (Marketing) : Adalah suatu aktivitas untuk memenuhi kebutuhan dan keinginan yang ada melalui penciptaan proses pertukaran yang saling menguntungkan. Aktivitas pemasaran tersebut antara lain perenca
Universitas Indonesia - MGMT - 12085
BAB VI ASPEK SDM Revolusi teknologi komunikasi dan informasi membuat dunia yang luas ini semakin lama semakin kecil (Global Village). Konsukensinya skala kompetisipun meningkat dari local competitive menjadi global Dengan competitive. Bisnis baru akan ber
Universitas Indonesia - MGMT - 12085
BAB VII ASPEK PRODUKSI Schroeder (1993) memberikan penekanan terhadap definisikegiatan produksi dan operasi pada 3 hal yaitu: 1. Pengelolaan fungsi organisasi dalam menghasilkan barang dan jasa. 2. Adanya sistem transformasi yang menghasilkan barang dan
Universitas Indonesia - MGMT - 12085
BAB VIII ASPEK KEUANGAN Keuangan merupakan salah satu fungsi bisnis yang bertujuan untuk membuat keputusan keputusan investasi, pendanaan dan dividen. Keputusan investasi ditujukan untuk menghasilkan kebijakan yang berhubungan dengan (a) kebijakan pengalo
Universitas Indonesia - MGMT - 12085
BAB IX ASPEK TEKNOLOGI INFORMASI 9.1. Pengertian Teknologi Informasi Banyak istilah yang berhubungan dengan teknologi informasi karena banyaknya perubahan dan tidak adanya kesepakatan istilah yang digunakan. Beberapa istilah yang sering digunakan adalah y
Universitas Indonesia - MGMT - 12085
BAB X MEMAHAMI PERILAKU KONSUMEN Secara sederhana, perilaku konsumen mengacu kepada perilaku yang ditunjukkan oleh individu dalam membeli dan menggunakan barang dan jasa. Studi secara sistematis mengenai konsumen telah berkembang pesat sejak dekade 1950an
Universitas Indonesia - MGMT - 12085
BAB XI ANALISIS INDUSTRI DAN PERSAINGAN11.1. Analisis Situasi Untuk Pembuatan Strategi Analisis situasi bertujuan untuk mempertimbangkan keadaan baik situasi internal perusahaan maupun lingkungan eksternal, yang langsung mempengaruhi peluang dan pilihan
Universitas Indonesia - MGMT - 12085
BAB XII ANALISIS PROFIL PERUSAHAAN Seberapa baik strategi yang sedang dijalankan? Apa kekuatan,kelemahan, peluang dan tantangan perusahaan? Apakah perusahaan kompetitif dalam biaya? Bagaimana posisi perusahaan di pasar? Semua pertanyaan ini mencerminkan
Universitas Indonesia - MGMT - 12085
BAB XIII ASPEK RESIKOIstilah resiko dalam manajemen mempunyai berbagai makna. Resiko adalah suatu variasi dari hasil-hasil yang dapat terjadi selama periode tertentu atau probabilitas sesuatu hasil/outcome yang ebrbeda dengan yang diharapkan. Resiko dapa
Universitas Indonesia - MGMT - 12085
BAB XIV Menyusun Proposal Bisnis Dalam Menyusun Proposal bisnis ada beberapa hal yang perlu diperhatikan yakni 1. Menggambar keseluruhan (overview) rencana strategi perusahaan yang akan dijalankan. 2. memuat latar belakang usaha 3. Menggabungkan seluruh a
Universitas Indonesia - MGMT - 12085
BAB XI ANALISIS INDUSTRI DAN PERSAINGANSYAFRIZAL HELMIAnalisis Situasi Pembuatan StrategiTiga peran utama dalam analisis lingkungan Policy-Oriented Role Peran analisis yang berorientasi pada kebijakan manajemen tingkatan atas dan bertujuan untuk memper
Universitas Indonesia - MGMT - 12085
BAB XII ANALISIS PROFIL PERUSAHAANSYAFRIZAL HELMIANALISIS SWOT SWOT singkatan dari Strength (Kekuatan), Weakness (Kelemahan), Opportunity (Peluang), Threat (Tantangan). Analisis SWOT berisi evaluasi faktor internal perusahaan beruapa kekuatan dan kelem
Universitas Indonesia - MGMT - 12085
BAB VIII ASPEK KEUANGANSYAFRIZAL HELMIKeputusan investasi Keputusan investasi ditujukan untuk menghasilkan kebijakan yang berhubungan dengan (a) kebijakan pengalokasian sumber dana secara optimal, (b) kebijakan modal kerja (c) kebijakan invesasi yang b
Universitas Indonesia - MGMT - 12085
BAB III ASPEK ManajemenSYAFRIZAL HELMIPengelolaan ManajemenAnnual Objectives & Policies Resources & Structures Productions & HRD Suportive culture Natural Environment Resistance to Change Restructuring Rewards/IncentivesManagement Issues Annual Objec
Universitas Indonesia - MGMT - 12085
BAB IV Aspek PasarSYAFRIZAL HELMIPengertian Pasar Pasar adalah orang-orang yang mempunyai keinginan untuk puas, uang untuk berbelanja, dan kemauan untuk membelanjakannya. Tiga unsur penting yang terdapat dalam pasar, yaitu: 1.Orang dengan segala keingi
Universitas Indonesia - MGMT - 12085
BAB V ASPEK PEMASARANSYAFRIZAL HELMIDEFENISIPemasaran (Marketing) : Adalah suatu aktivitas untuk memenuhi kebutuhan dan keinginan yang ada melalui penciptaan proses pertukaran yang saling menguntungkan. Aktivitas pemasaran antara lain perencanaan produ
Universitas Indonesia - MGMT - 12085
BAB VII ASPEK PRODUKSISYAFRIZAL HELMISchroeder (1993) memberikan penekanan terhadap definisi kegiatan produksi dan operasi pada 3 hal yaitu: 1. Pengelolaan fungsi organisasi dalam menghasilkan barang dan jasa. 2. Adanya sistem transformasi yang menghasi
Universitas Indonesia - MGMT - 12085
BAB XIII ASPEK RESIKOSYAFRIZAL HELMI Resiko adalah suatu variasi dari hasil-hasil yang dapat terjadi selama periode tertentu atau probabilitas sesuatu hasil/outcome yang ebrbeda dengan yang diharapkan. Resiko dapat juga dikatakan ketidakpastian yang mun
Universitas Indonesia - MGMT - 12085
BAB VI ASPEK SDMSYAFRIZAL HELMI Keberhasilan sebuah perusahaan sangat ditentukan sejauhmana perusahaan mampu mengelola, mengembangkan dan memotivasi karyawan yang potensial. Ed Michaels, Helen Handfield-Jhons dan Axelrod (konsultan dari McKinsey & Compa
Universitas Indonesia - MGMT - 12085
BAB IX ASPEK TEKNOLOGI INFORMASISYAFRIZAL HELMIDefinisi teknologi informasi Menurut Haag dan Keen, teknologi informasi adalah seperangkat alat yang membantu anda bekerja dengan informasi dan melakukan tugastugas yang berhubungan dengan pemrosesan infor
Universitas Indonesia - MGMT - 12085
BAB X MEMAHAMI PERILAKU KONSUMENSYAFRIZAL HELMILingkup studi perilaku konsumen Siapa yang membeli produk atau jasa ? ( WHO ) Apa yang dibeli ? ( WHAT ) Mengapa membeli produk atau jasa tersebut ? ( WHY ) Kapan membeli ? ( WHEN ) Di mana membelinya ? (
Universitas Indonesia - MGMT - 12085
BAB II MENJALANKAN BISNISSYAFRIZAL HELMI Untuk memulai sebuah usaha memang harus didahului dengan taktik dan strategi. Membuat usaha yang besar tidak selalu membutuhkan modal yang besar. Mengawalinya dengan modal kecil pun sebuah usaha bisa tumbuh menja
Universitas Indonesia - MGMT - 12085
BAB I MERENCANAKAN BISNISSYAFRIZAL HELMIMembangun Mindset berbisnis Kampus sebagai tempat untuk Merubah Paradigma cara berfikir mahasiswa dari mencari pekerjaan menjadi pencipta lapangan pekerjaan Untuk itu diperlukan sebuah jiwa entrepreneurship (kewi
Universitas Indonesia - MGMT - 12085
BAHAN AJARKonten Mata Kuliah E-Learning USU INHERENT 2006 BUKU AJAR STUDI KELAYAKAN BISNIS PENGUSULSYAFRIZALHELMIS,SE,M.Si DEPARTEMENMANAJEMEN FAKULTASEKONOMIUNIVERSITASSUMATERAUTARA 2006iDAFTAR ISI HalamanBAB I. Merencanakan bisnis. 1 1.1. Membang
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