Becoming A Master Manager A Competing Values Approach 6th Edition Robert E Quinn, Lynda S St Clair - Solutions

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2–2 Financial statement account identification Mark each of the accounts listed in the following table as follows:a. In column (1), indicate in which statement—income statement (IS) or balance sheet (BS)—the account belongs.b. In column (2), indicate whether the account is a current asset
2–1 Reviewing basic financial statements The income statement for the year ended December 31, 2003, the balance sheets for December 31, 2003 and 2002, and the statement of retained earnings for the year ended December 31, 2003, for Technica, Inc., are given here. Briefly discuss the form and
2–18 What three areas of analysis are combined in the modified DuPont formula?Explain how the DuPont system of analysis is used to dissect the firm’s results and isolate their causes.
2–17 Describe how you would use a large number of ratios to perform a complete ratio analysis of the firm.
2–16 Financial ratio analysis is often divided into five areas: liquidity, activity, debt, profitability, and market ratios. Differentiate each of these areas of analysis from the others. Which is of the greatest concern to creditors?
2–15 How do the price/earnings (P/E) ratio and the market/book (M/B) ratio provide a feel for the firm’s risk and return?
2–14 Which measure of profitability is probably of greatest interest to the investing public? Why?
2–13 What would explain a firm’s having a high gross profit margin and a low net profit margin?
2–12 What three ratios of profitability are found on a common-size income statement?
2–11 What ratio measures the firm’s degree of indebtedness? What ratios assess the firm’s ability to service debts?
2–10 What is financial leverage?
2–9 To assess the firm’s average collection period and average payment period ratios, what additional information is needed, and why?
2–8 Under what circumstances would the current ratio be the preferred measure of overall firm liquidity? Under what circumstances would the quick ratio be preferred?
2–7 Why is it preferable to compare ratios calculated using financial statements that are dated at the same point in time during the year?
2–6 What types of deviations from the norm should the analyst pay primary attention to when performing cross-sectional ratio analysis? Why?
2–5 What is the difference between cross-sectional and time-series ratio analysis?What is benchmarking?
2–4 With regard to financial ratio analysis, how do the viewpoints held by the firm’s present and prospective shareholders, creditors, and management differ?
2–3 How is the current rate (translation) method used to consolidate a firm’s foreign and domestic financial statements?
2–2 Why are the notes to the financial statements important to professional securities analysts?
2–1 Describe the purpose of each of the four major financial statements.
1-2 At the Careers in Finance Web site, www.careers-in-finance.com, you will find information on career opportunities in seven different areas of finance. First click on Corporate Finance in the Areas to Explore section and use the various subsections to answer the following questions:1. What are
1-1 Loren Seguara and Dale Johnson both work for Sports Products, Inc., a major producer of boating equipment and accessories. Loren works as a clerical assistant in the Accounting Department, and Dale works as a packager in the Shipping Department. During their lunch break one day, they began
1–11 Capital gains taxes The following table contains purchase and sale prices for the nondepreciable capital assets of a major corporation. The firm paid taxes of 40% on capital gains.Asset Purchase price Sale price A $ 3,000 $ 3,400 B 12,000 12,000 C 62,000 80,000 D 41,000 45,000 E 16,500
1–10 Capital gains taxes Perkins Manufacturing is considering the sale of two nondepreciable assets, X and Y. Asset X was purchased for $2,000 and will be sold today for $2,250. Asset Y was purchased for $30,000 and will be sold today for$35,000. The firm is subject to a 40% tax rate on capital
1–9 Interest versus dividend expense Michaels Corporation expects earnings before interest and taxes to be $40,000 for this period. Assuming an ordinary tax rate of 40%, compute the firm’s earnings after taxes and earnings available for common stockholders (earnings after taxes and preferred
1–8 Interest versus dividend income During the year just ended, Shering Distributors, Inc., had pretax earnings from operations of $490,000. In addition, during the year it received $20,000 in income from interest on bonds it held in Zig Manufacturing and received $20,000 in income from dividends
1–7 Marginal corporate tax rates Using the corporate tax rate schedule given in Table 1.4, perform the following:a. Find the marginal tax rate for the following levels of corporate earnings before taxes: $15,000; $60,000; $90,000; $200,000; $400,000; $1 million;and $20 million.b. Plot the
1–6 Average corporate tax rates Using the corporate tax rate schedule given in Table 1.4, perform the following:a. Calculate the tax liability, after-tax earnings, and average tax rates for the following levels of corporate earnings before taxes: $10,000; $80,000;$300,000; $500,000; $1.5 million;
1–5 Corporate taxes Tantor Supply, Inc., is a small corporation acting as the exclusive distributor of a major line of sporting goods. During 2003 the firm earned$92,500 before taxes.a. Calculate the firm’s tax liability using the corporate tax rate schedule given in Table 1.4.b. How much are
1–4 Identifying agency problems, costs, and resolutions Explain why each of the following situations is an agency problem and what costs to the firm might result from it. Suggest how the problem might be dealt with short of firing the individual(s) involved.a. The front desk receptionist
1–3 Accrual income versus cash flow for a period Thomas Book Sales, Inc., supplies textbooks to college and university bookstores. The books are shipped with a proviso that they must be paid for within 30 days but can be returned for a full refund credit within 90 days. In 2003, Thomas shipped
1–1 Corporate taxes Montgomery Enterprises, Inc., had operating earnings of$280,000 for the year just ended. During the year the firm sold stock that it held in another company for $180,000, which was $30,000 above its original purchase price of $150,000, paid 1 year earlier.a. What is the
1–29 How is the tax loss carryback/carryforward used when a firm experiences an operating loss in a given year?
1–28 What benefit results from the tax deductibility of certain corporate expenses?
1–27 Why might the intercorporate dividend exclusion make corporate stock investments by one corporation in another more attractive than bond investments?
1–26 Describe the tax treatment of ordinary income and that of capital gains. What is the difference between the average tax rate and the marginal tax rate?
1–25 What are efficient markets? What determines the price of an individual security in such a market?
1–24 Briefly describe the international capital markets, particularly the Eurobond market and the international equity market.
1–23 What role do securities exchanges play in the capital market? How does the over-the-counter exchange operate? How does it differ from the organized securities exchanges?
1–22 What is the capital market? What are the primary securities traded in it?
1–21 What is the Eurocurrency market? What is the London Interbank Offered Rate (LIBOR) and how is it used in this market?
1–20 What is the money market? How does it work?
1–19 What role do financial markets play in our economy? What are primary and secondary markets? What relationship exists between financial institutions and financial markets?
1–18 Who are the key participants in the transactions of financial institutions?Who are net suppliers and who are net demanders?
1–17 Define agency costs, and explain why firms incur them. How can management structure management compensation to minimize agency problems?What is the current view with regard to the execution of many compensation plans?
1–16 How do market forces, both shareholder activism and the threat of takeover, act to prevent or minimize the agency problem?
1–15 Describe the role of corporate ethics policies and guidelines, and discuss the relationship that is believed to exist between ethics and share price.
1–14 What is economic value added (EVA®)? How is it used?
1–13 What is the goal of the firm and therefore of all managers and employees?Discuss how one measures achievement of this goal.
1–12 What is risk? Why must risk as well as return be considered by the financial manager who is evaluating a decision alternative or action?
1–11 For what three basic reasons is profit maximization inconsistent with wealth maximization?
1–10 What are the two primary activities of the financial manager that are related to the firm’s balance sheet?
1–9 What are the major differences between accounting and finance with respect to emphasis on cash flows and decision making?
1–8 What is the primary economic principle used in managerial finance?
1–7 What financial activities is the treasurer, or financial manager, responsible for handling in the mature firm?
1–6 Why is the study of managerial finance important regardless of the specific area of responsibility one has within the business firm?
1–4 Describe the roles and the basic relationship among the major parties in a corporation—stockholders, board of directors, and president. How are corporate owners compensated?
1–3 Which legal form of business organization is most common? Which form is dominant in terms of business receipts and net profits?
1–1 What is finance? Explain how this field affects the lives of everyone and every organization.
• 1. Based on the limited information, what advantages of the change approved by Paul Lindford can you identify?
4. If you were Paul, what problems would you anticipate at this point?
3. What might be the response of the attorneys to this change?
2. What might be the response of the paralegal assistants to this change?
1. Based on the limited information, what advantages of the change approved by Paul Lindford can you identify?
3. Identify those forces over which you have some influence or control.
2. Examine each force and assess its strength—not all forces are equal. Note the possible consequences of each force and its value. You may wish to assign a numerical value to each force.
1. List the driving forces and the resisting forces. Include an analysis of the state of the organi—zation relative to the potential change.
' What do you see as the critical factors that enable a change to be effectively implemented?
' What insights did you gain about the differences between successful and unsuccessful change efforts?
4. Write a description of one change that you would like to make in that organization. If you received approval to make that change, what is the most important thing you would do in your efforts to implement that change? Why?Answer the following questions in groups or as a class:
3. Write an answer to this question: From what you have observed, why was the first change implemented successfully but not the second one? If you can distinguish the content of the idea from the methods for implementation, identify the extent to which the success (or lack of success) of the
' A change that W&S HÎÏÊIÏIPÏËd bl.1t was not SHCCCSSfiIHY iOEPlfifilfiîfltfid.
' An implemented change that, from your perspective, was needed, was implemented, and was suc—cessful until long after implementation.
2. On a separate piece of paper, write a careful description of the following:
]. Identify two changes that have taken place in an organization with which you have been involved.The organization may be a work organization, a school-related organization, or a community group.
5. If appropriate, use your plan to start a negotiation and then write about your experience. Be sure to reflect on how the negotiation process unfolded as well as on the actual outcome.
4. Given the interests that you have identified, estimate how likely it is that you will be successfi.fl in negotiating your proposed change.
3. Identify some options to help make the pie bigger. What would you be willing to give up in exchange for a negotiated agreement? What would your negotiation partner be interested in getting in exchange for their agreement?
2. Describe what you think are the reasons your proposal might be rejected. Try to think in terms of both the positions your negotiation partner might take as well as the true interests behind those positions.
]. Describe the change you would like and explain why you want that change (identify your interests).
4. What will you do if the community insists that the name of the Center not be changed? Surely you’ve considered this possibility.
3. This Center was created by donations from about half a dozen donors, all of whom were local citizens or at least attached to this community in some significant way. \What do you have to say to the citizens of this community who feel that their memory and contribution are being undermined by this
2. What exactly is Knowles hoping to accomplish by having the Center carry his name?
1. How can the Center justify accepting money from a person who has so aggressively championed the cause of the tobacco industry? The moral inconsistency seems too obvious to consider, but apparently it needs some more considering.
' How could you now improve your negotiating performance? If you were to participate in the same negotiation again, what would you do differently?
' How well did you or the other party do in using objective criteria? Describe what happened.
' Were you able to find mutually beneficial options? If so, what were they?
' How did you or the other party focus on interests. rather than on positions?
' Did you or the other party have any trouble separating the people from the problem? If so, what happened?
' VVhat was the issue? What did you want? VÙhat did the other parties want?
2. Write a brief memo that describes your experience. Answer the questions listed below:
]. Identify an issue or event from your life in which you needed to engage in some negotiation or secure a commitment from another person or party. You can use any situation you found challenging, for example, buying a product you later wanted to return or needing to lodge a complaint about a
3. How would you answer question 2 focusing on two other persons: one with whom you had a very positive experience and one with whom you had a negative experience?
2. From your responses, identify specific behaviors that helped you feel affirmed as a valued person and those that did not.
1. How did you feel about yourself in that situation?
3. How does the tone of the memo affect your perception of the credibility of the writer?
2. Do you think that anyone would ever write a memo like this one? VVhy or why not?
1. What are the main flaws in the document as it was originally written? What do you think would happen if the vice president of human resources received the original momo? What would you do if you were in that position?
2. How could the presenter have improved his or her performance?
]. Did you think the presentation was effective? Why or why not?

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Becoming A Master Manager A Competing Values Approach 6th Edition Robert E Quinn, Lynda S St Clair - Solutions

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