Discounted cash flow and Projection based valuations

For Rolls-Royce Company, calculate the value of equity using the discounted cash flow exercise. You can copy the process shown in the Lecture Slides…
1-Forecast free cash flow to time horizon and discount to present value.
2-Calculate continuing value at time horizon and discount to present value.
Add 1 and 2 together.
Subtract net debt.
Think about the discount rate that you apply to the net cash flows, and the growth rate you assume for calculating the continuing value.
Compare your calculated value of equity with your company’s current market capitalisation and explain why the figures might be different.

Part 2
1- Using historical data (or your own estimates of future performance data), calculate the market’s implied growth rate for your company using the reverse engineered valuation model. Base your calculation on:
– residual earnings valuation, OR
– abnormal earnings growth model
2-Critically evaluate the use of this model including an evaluation of problems of determining an appropriate discount rate (required rate of return).
3-Compare your calculated value of equity with your company’s current market capitalisation and explain why the figures might be different.
Perform calculations to determine the market’s implied growth rate using the “reverse engineering method” set out in Slide 3-38 to Slide 3-42.

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Economic development of Ghana

Due to the fact that I am an international student please do not use over complicated vocabulary and grammar.Please refer to my class lecture to build the essay. I will upload the explanation of the essay requirements and also my lecture notes.

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Immanuel Kant – Philosophical Essay

Select a moral issue or conflict that interests you. What Immanuel Kant would say about it? Be clear about what principles you are applying, and be sure that it reflects the specifically systematic nature of Kant�s philosophy. I want you to demonstrate both your understanding of Kant and your capacity to apply his theory.

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Santitos Reaction Paper: How would you help Esperanza if she was referred to you and you were working in a mental health agency?

? How would you help Esperanza if she was referred to you and you were working in a mental health agency? (Details Below)
o Esperanza has been referred to your team for bereavement services.
o Esperanza believes her daughter is still alive and wants your team to help her find her or view her daughter�s body.
� How would you engage Esperanza?
� How would you build rapport with Esperanza?
� What information would you like to know?
� How would you incorporate her belief system in your work to help her?

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Accounting Investor Report

The coursework requires analysis on the recent performance of a major international company to give advice to the investor based on the findings. From the research a 3000 to 3500 word report must be presented on what the best course of action would be with respect to the company’s share. You need to describe the investor who might be looking for growth or income. The investor may already hold the shares of the company or may be considering buying shares in the company. It is required to use the company’s latest annual report and to make comparisons with the performance of one other company in the same industry (it should also be compared with the industry average i.e average p/e ratios etc). Given that the latest annual report is already out of date by the time it is made available, it will be expected to show knowledge of the present and likely future environment within which the company is operating. The completed work should be presented in a form of a report. It will be sufficient to submit extracts from the latest annual reports, namely the chairman’s statement (or equivalent), the profit and loss accounts and the balance sheet – with notes to the accounts where appropriate – with the report. Everything done must be noted. The ratios to look at and analyze are all the following:
Investor Ratios:
1. EPS = Profit after interest and tax/ number of shares (basic eps and not diluted)
2. PE= Price/ EPS
3. Dividend per share = Dividend/ number of shares
4. Dividend yield = Dividend/ share price
5. Dividend Cover = Profit After tax/ Dividend
6. Interest Cover = PBIT / Interest
7. Leverage/ gearing = Debt (long term+ short term) / debt + equity
Profitability Ratios:
1. Return on equity = PAIT / Equity * 100 %
2. Return on capital employed= PBIT/capital employed (long term debt +equity) * 100%
3. Gross profit margin= Gross profit/ sales * 100%
4. Net profit margin= PBIT/sales * 100%
5. Asset turnover = Sales/ net sales
Liquidity Ratios:
1. Current Ratio= current assets/ current liabilities
2. Quick Ratio = Current assets – stock / current liabilities
Activity Ratios:
A. Stock holding period= stock/cost of sales * 365
B. Debtors collection period = debtors/sales * 365
C. Creditors payment period = Creditors/ cost of sales * 365
Working capital cycle: A+B-C
All figures have to be analyzed and given both sides of the story (positive and negative aspect) and compared against other company and industry.
The following criteria will be used in assessing this work:
Communication skills 25%
Report writing ability – power of expression; clarity of language and analytical logic; originality and effectiveness of structure and presentation.
Analytical and problem solving skills 50%
Depth of analysis and extent of understanding of the analytical techniques used; breadth of knowledge demonstrated; the relevance and practicability of the recommendations made and the extent to which they relate theory to practice.
Research skills 25%
The ability to secure information about the companies and industry examined by the group. It is to be expected that the information is up-to-date and relevant. Consideration of the future prospects of the company is expected.
It should be set out as follows:
Abstract/Executive summary
Introduction
Literature review
Method
Results/ Findings
Analysis/ Discussion
Conclusions
Recommendations
References
The two companies are Toyota Motor Corp and Ford, it’s up to you who you would like to be the main company and who will be the comparable company.

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Report – Blue Ocean Strategy (Competitive Strategy)

Part B: Competitive Strategy (Worth a Maximum of 15% of Course marks)
Discuss the major theoretical approaches to the building and sustaining of competitive strategy using the available academic literature including blue ocean
strategy and other approaches. This assessment component must be based on a minimum of 10 peer-reviewed academic articles.

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Energy Audit of Your Home

Use a typical domestic home as the example. E.g. 4 bedroom house, kitchen, living room, dining room, 2 bathrooms etc. INFORMATION MUST RELATE TO NORTHERN IRELAND/ UK.

You are asked to carry out a survey of the electricity used in your home. Please do not use meters as you might kill yourselves. In industry, a survey of electricity use is required to note the areas of potential higher energy usage and therefore worthy of metering and further investigation. A similar process can be carried out for your home. Each electrically powered item will have its rating e.g. watts, kilowatts (kW) or voltage (V) and current (amps – A). Power (watts) = volts x amps. In order to carry out a survey, the size of the device, location, and the length of time it is used (a 100 W light bulb on for one hour uses 0.1 kWh) needs to be recorded or estimated. This can be totalled for each room and can be used as a basis for your report. Your data should be presented and your report should then have a section on how improvements can be made to the levels of efficient electricity use in your home.

Your answer should include at least 10 references to support any arguments raised and these should be documented in the Harvard style. The end result should be presented for the equivalent of 3 months usage i.e. a “quarterly bill”.

40% of the total Marks Assessment Criteria

1. Accuracy and depth of data collection (20%)

2. Presentation of data and subsequent analysis (30%)

3. Identification of areas of improvement (20%)

4. How viable (technical & economic) are your choices? (20%)

5. References (10%)

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Corporate Governance in an International Context

The detailed requirements for this task are as follows:
Your task is to review the theoretical and empirical literature on board diversity, and board and firm performance. Your report should include the following:
a) An introduction to the domain of corporate governance and within it the role of boards.
b) A critical review of different theoretical perspectives on the concept of board diversity
c) A review of the empirical literature on the effects of board diversity on board and firm performance. This should include a summary of findings regarding the impact of board diversity, and a discussion about the extent to which board diversity differs internationally.
d) A conclusion in which you put forward recommendations on board diversity.

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Reading Children’s Book as a Child and as an Adult

Peter Hunt comments: “To reread a children’s book from childhood, perhaps as an escape from the stresses of adulthood, evades both the real now and the real then” (Reader 1, p: 13).

Discuss this comment with reference either to a book from the course or to one of the children’s books you have read as a child. Explain how you reread this book as an adult focusing on the differences between your reading of the book as a child and as an adult.

Note: so the writer can choose one from the course which I will upload as additional files or to one of the children’s book that he preferred. e.g.(little red riding hood, the seven dwarfs, Aladdin, Cinderella, jack and the bean stock, or the princes, etc..)

Student Notes:
These notes offer students some added explanations to the TMA question, and are intended to help you get started. The ideas and the points raised below are NOT designed to be used as an essay plan or outline. Student should start with Peter Hunt’s essay and read it in its entirety to understand the quotation above in its context. Hunt’s essay is extremely important for this TMA, and you may find more material relevant to your understanding of the topic. The topic is asking the students to reflect on their own reading of a particular story or fairytale from their childhood (or from the course), and analyze the differences / similarities between their reading of this particular story as children and as adults.

Students can focus on the following points:

 -What elements of the story intrigued you as a child? Do these elements mean to you now as an adult as they meant to you as a child?
 -What ideologies do you see operating in the text now? Did you notice these ideologies when you were a child?
 -Is the question of ‘instruction & delight’ equally significant to you as a child and as an adult?
 -Based on the differences / similarities between your reading of the story as a child and as an adult what conclusions can you draw about the nature of children’s literature?

Students may find the following critical works helpful for writing their TMAs. But we advise you to do more research to write a substantial essay.

 -‘Instruction and Delight’ by Peter Hunt
 -‘Readers, Texts, Contexts: Reader-response Criticism’ by Hamida Bosmajian
 -Understanding Children’s Literature by Peter Hunt
 -‘Children’s Literature: Theory and Practice’ by Felicity A. Hughes
 -‘ Inventing the Child Reader: How We Read Children’s Books,’ by Adrienne Kertzer

A thesis statement and a proper logical presentation of ideas are necessary.
To do this TMA, you will need to do the following steps:

1. Plan your essay ahead of time by writing a plan highlighting the main points you intend to cover.
2. Write a thesis statement stating your argument to be included in the first page of your essay.
3. Refer to the works discussed and select some excerpts that relate to your argument. State what these passages say and add your own comments and interpretation.
4. Make sure your essay makes reference to some quotations from the novel.
5. Your analytical comments should follow every time you quote from the text under discussion or the critical material you refer to.
6. Reference to critical material related to this topic is a must. (You should refer to at least 3 critical works).
7. You should refer and quote from the course’s audiovisual material whenever possible. The audiovisual material should be well integrated in your essay.
8. At this stage, you are expected to know how to paraphrase and synthesize the material you read, using your own words as much as possible. You still have to quote and use quotation marks in the right annotation methods you learned from your tutors.
9. Make sure you ask your tutors in class and during their office hours for further clarifications.

the writer can organize the essay as the following;

paragraph 1: introduction + thesis statement
paragraph 2: similarities between the both reading
paragraph 3: differences between the both reading
paragraph 4: support your points with clear evidence (theories) such as,
– instruction and delight
-children literature
-social construct and childhood
-suitability: what are the suitable issue to be discuss
-the idea of ideology

Using the e-library on campus:
Students are requested to visit the e-library on campus and use it to do their TMAs properly. They are also requested to show their tutor that they used the e-library in doing the TMA by referring to some articles they have read. Students who fail to use and refer to material from the e-library will subsequently lose some marks.

The following are guidelines on plagiarism:
If you submit an assignment that contains work other than yours without acknowledging your sources, you are committing plagiarism. This might occur when:

• Using a sentence or phrase that you have come across
• Copying word-for-word directly from a text
• Paraphrasing the words from the text very closely
• Using text downloaded from the Internet
• Borrowing statistics or assembled facts from another person or source
• Copying or downloading figures, photographs, pictures or diagrams without acknowledging your sources
• Copying from the notes or essays of a fellow student

(Slightly adapted from OU document on quoting versus plagiarism)

It is important to remember that plagiarism is strictly barred and would be subject to punitive action by the Arab Open University.

Marking Grid

GRADE CONTENT LANGUAGE & ORGANIZATION
A
Excellent answers showing confident and wide-ranging knowledge of core material, good understanding of any relevant theory, and a capacity to address the question in a structural, direct and effective way, thoughtfully and with insight. Originality of thought or ideas from outside the course are an added asset. Examples are to the point.
– Has an introduction defining plan of essay.
– Body divided into several paragraphs
– Conclusion which directly relates arguments to topic.
– Evidence that essay has been edited.
– Error-free grammar & register.
– Wide range of specialized terminology.

B to B+
Very good answers showing secure knowledge of course materials. Adopting an analytical approach and providing relevant discussion covering most of the key issues. Distinguished from A answers by being less insightful or by showing less comprehensive knowledge of the course.
– First four criteria above maintained
– Demonstrates extensive grammar control.
– Terminology specialized but less varied.

C to C+
Competent answers reflecting adequate knowledge of the more directly relevant course material and concepts, with reasonable structure and adequate coherence related to the question set. – Introduction and/or conclusion short but still satisfactory.
– Evidence of editing.
– Less grammar control than above.
– Good range of specialized terminology.

D
Answers which omit some concepts /evidence and/or lack coherence /structure, and/or make minor errors while still demonstrating basic understanding. Or Bare pass answers which show awareness of some relevant material and attempt to relate it to the question. – Introduction and/or conclusion short but acceptable.
– no evidence of editing.
– Few grammatical errors that impede communication.
– Above average range of specialized terminology.
– Slightly confused introduction and/or conclusion, but body still fair.
– No evidence of editing.
– Some error types that impede communication.
– Fair range of specialized terminology.

F
Bare fail answers which attempt to draw upon relevant material but do not reflect sufficient knowledge of the course and/or neglect the focus required by the question, and/or are incomplete in some important aspects whilst being acceptable in others.
– No introduction and /or no conclusion.
– Body badly organized or irrelevant.
– Poor grammar control (extremely limited range of grammar & register).
– Limited or not specialized range of terminology.

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