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old exam 1 - ENT/FIN 4310 EXAM I Spring 2008 I ESSAY...

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ENT/FIN 4310 EXAM I Spring 2008 I. ESSAY QUESTIONS (40 minutes) AGAIN, WATCH YOUR TIME ON EACH QUESTION AND PROBLEM! 1. (9 minutes) Explain three reasons that small entrepreneurial firms can hold their own and often gain an edge over successful, more powerful businesses. In other words, what is the “winning hand” of entrepreneurship? 2. (8 minutes) Explain what Timmons calls “real time”. 3. (8 minutes) Estimating a company's financial requirements requires an understanding of certain guidelines or principles of finance. Describe three of these principles (from the note on forecasting financial requirements). 4. (2 minutes) What are the drivers of a firm’s return on equity? 5. (5 minutes) In interpreting a firm’s free cash flows, explain what the following tell us: cash flows from operations, the change in net working capital, and the change in long-term assets. ( I am looking more for what they mean than how to compute them.) 6. (6 minutes) According to Covey, what is involved in order for a person to "begin with the end in mind?" II. PROBLEMS (42 minutes) 1. (15 minutes) Given the data on the next page, calculate the firm's free cash flows in 2007 for the Brandon Webb Corporation. (You need not compute the investor’s cash flows .)
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  • Spring '08
  • Generally Accepted Accounting Principles, Total Current Assets, Current assets Cash, equity Current liabilities, Brandon Webb Manufacturing Company

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