Phân tích vai trò mục tiêu tài doanh nghiệp Part 1: Self-review Question: Analyze the role and objectives of corporate finance He or She comments on the role of CFO (Chief financial officer) in the enterprise The necessity of this job title in enterprises in Vietnam About form, corporate finance are money market funds in the creation, distribution, use and movement associated with the operation of businesses In essence, Corporate finance is the economic relationship in the form of value that arise, associated with the creation and use of enterprise fund money in the process of business activities Thus, the role of corporate finance shown in the following aspects: Ensure needs of capital for businesses: - Increase efficiency of business capital The organization to use savings and efficiency capital are considered because this is conditions for the existence of any business development Corporate Finance has an important role in the evaluation and selection of optimal investment projects, raising the maximum amount of capital available to business activities,distributing a reasonable financial resources , using measures to increase the turnover of capital, improve the profitability of venture capital; - Leverage stimulate and regulate business This role of corporate finance is expressed through the creation of reasonable purchase to attract investment capital , labor, materials, services, and determine the reasonable price when issuing shares, sale of goods, services and activities through distribution of business income, bonus distribution fund, wage fund, implementation of economic contracts Monitoring general business activities: -1- The financial situation of enterprises is a mirror that reflects the most realistic of all business operations of the enterprise through financial performance targets that the business managers to easily see the economic situation of enterprises, from which generalizations can assess and control the activities of the enterprises, timely detection of problems, which exist to make the decision to adjust the operating business Its aim is to achieve defined objectives; The role of corporate finance will become active or passive That depends primarily on awareness and use of financial functions, later depending on business environment, institutional mechanisms corporate finance and the need to thoroughly understand the principles of all corporate finance activities The objective of financial management in enterprise Financial management is the use of information to accurately reflect the financial condition of a business to analyze its strengths and weaknesses ,set up the business plan, plan to use financial resources and assets fixed and labor demand in the future to increase shareholder dividend The financial management including the establishment of long-term and short-term financial planning , and effective management of working capital to the company This is very important for all businesses because it affects the ways and methods that managers attract investment capital to establish, maintain and expand business Financial planning will allow the decision of raw materials that businesses can purchase, products of companies can produce and capabilities of companies can market, advertise to sell products to market When you have a financial plan, you can also specify a human resource that business needs The financial management is not effective It can cause the greatest failure of the company, not including small and medium companies or large corporate -2- groups " Financial planning including in the short and long term planning Short-term financial planning is about planning profits and treasury of company while the long-term planning is strategic and often involves setting up targets to grow revenue and profitability within to years "Chief Financial Officer" (CFO) is a position in the enterprise The job of finance director is financial management such as research, analysis of financial relationships in business, building the financial planning and exploiting and using effective capital and warning risks to enterprises through financial analysis and making reliable forecasts in the future The role of finance director is completely different from accounting CFO's main job is to keep moneyof enterprise circulating in the most effective way So how the CFO to contribute to more business and in personal CFO reach the highest position as the CEO, this is always a question standing in each of today's chief financial officer In addition, the CFO must also master the scientific analysis and management science It is meant to have to access to courses such as assessment, quantitative, statistics, From that knowledge, combined with the operation to make the end result is a report on the financial situation , financial strategic planning and managing the implementation of financial strategies Currently there are few Vietnam’s enterprises with the job title of chief financial officer , and many enterprises face serious confusion between the CFO position to chief accountant Lack of finance director in the business have led to serious consequences Firstly, the lack of a professional management staff to regularly review the financial situation of enterprises So there are not a few cases, general manager, the board completely understand the financial situation of -3- enterprises, to discover signs of bad debts rising the permitted level,unpaid debt , low business efficiency they could not respond Part 2: Test According to my assigment I have right plan of each question as follows: Based on the information in Table 1, the current ratio is: A 2,97 Based on the information in Table 1, using 360 days / year average collection period: D 125 days Based on the information in Table 1, the debt (liabilities ratio) is: D 0,42 Based on the information in Table 1, net margins on sales by how much: B 2,94% Five Based on the information in Table 1, the coefficient of inventory turnover is: D 3,47 times Which of the following companies are not liable to suffer limited liability debt? A) Private companies Calculate the present value (PV) of $ 100.000 received after years from today, assuming the interest rate is 8% / year? B) $ 68.058,32 Calculate the present value (PV) of $ 80.000 received after 10 years from today, assuming an interest rate is 5% / year? C) $ 49.113,06 -4- Calculate the present value (PV) of $ 50.000 received after 20 years from today, assuming interest rate is 4% / year? C) $ 22 819,35 10 Calculate future value (FV) of $ 60.000 in five years, assuming interest rates is 5% / year? D) $ 76.576,89 11 NPV method: D All the aboved ideas 12 NPV method assumes cash flows to be reinvested at: D Weighted Average cost of capital (WACC) 13 You are analyzing a proposed project and has the following information: Year Cash Flow - $ 135.000 $ 28.600 $ 65.500 $ 71.900 Required payback period : years Required income ratio: 8,50% Net present value (NPV) of the proposed project is? A $ 3.289,86 14.Calculate the future value (FV) of $ 10,000 for years, assuming an interest rate is 10% / year? -5- D) $ 21.435,89 15 Calculate the future value (FV) of $ 20,000 in years, assuming interest rates is 12% / year? C) $ 31.470,39 16 If $ 15,000 is invested at interest rate of 10% / year, asking how many years the investment will double? A) 7,3 years 17 If money is invested at 8% interest / year, asking about how many years the received interest will equal your original investment? C) years 18 Sara would like to have $ 500,000 in a savings account when she retired Ask how much money she must have in the account right now if the interest rate is fixed at 8% / year, to make sure she will have $ 500,000 in 20 years? A) $ 107.274 19 You are analyzing a proposed project and has the following information: Year Cash Flow - $ 135.000 $ 28.600 $ 65.500 $ 71.900 Required Payback period: years Required income ratio: 8,50% -6- The payback period using discounted cash flow of the project? D 2,94 years 20 Which of the following factors are not considered owner’s equity in the balance sheet of the company? A Cash 21 Calculate the yield to maturity (YTM) of a 5-year bonds, par value $ 5,000 with interest rates 4.5% and pay cuopon periodic interest every months if bonds are priced at $ 4,876? B) 5.07% 22 Calculate the yield to maturity (YTM) of a 10-year bonds, par value $ 1,000 with interest rates 5.2% and pay coupon periodic interest every months if bonds are priced at $ 884? C) 6.82% 23 A bond with a term for years, $ 2,000 par value, and witth interest rate 6.3%, coupon periodic interest payment annually (1 year / one time) Ask How much yield to maturity if the bond price is $ 1.801? D) 10.32% 24 A bond with $ 1,000 par value, coupon rates of 5.4% / year and pay coupon interest every months with a term of years and yields (YTM) of 7.5% If rates go up and up 7.8% YTM, the bond price will be affected like? B) decreased $ 11,59 25 A $ 5,000 face value bonds with coupon rates 6.4% / year and pay interest every months coupon bonds with a term of years and yields (YTM) is 6.2% If rates go down and down 0.8% YTM, the bond price will be affected like? D) increased by $ 142,78 -7- 26 As yields of bonds with a term of two years, par value $ 10,000 interest payment coupon every months and the current bond price is $ 9,543.45, bond yields (YTM) of 6.8%? A) 4,32% 27 In birthday Harry, his father gave up $ 1,000 investment into an account pledged to pay interest of 4% / year Harry will have to ask how much money he 18? B) $ 2.026 28) Helen are saving to start her business If she invested $ 10,000 in the account now,Ask the minimum interest rate is how to ensure that she has $ 25.000 in her account in 10 years? C) 9,6% 29 Consider the following cash flow series: | | | | | ? $5000 $6000 $7000 Years $8000 Cash flow If the market interest rate is currently 8% / year, present value (PV) of cash flow chain is approximately equal to: B) $ 21.211 30 Consider the following cash flow series: | | | | | -8- Years $1000 $2000 $3000 $4000 ? Cash flow If the market interest rate is currently 8% / year, the future value (FV) of the cash flow will be approximated by: A) $ 11,699 -9- ... financial strategies Currently there are few Vietnam’s enterprises with the job title of chief financial officer , and many enterprises face serious confusion between the CFO position to chief accountant... easily see the economic situation of enterprises, from which generalizations can assess and control the activities of the enterprises, timely detection of problems, which exist to make the decision... finance director in the business have led to serious consequences Firstly, the lack of a professional management staff to regularly review the financial situation of enterprises So there are not