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ay OCRUALS “
COSPONTANEQUS LIAG. TN SPONTANEOUS. LaNBILTTIES
> FORMAL COURSE OF Guanes, Ds REQUIRES, SPECIOL OEVON FROM ThE _comGa NY.
Puen. > NP oR OccHuat > NK Len, WORTBOGE
»
FROM THe company
DAD TO -GI gpeRATIEHS
a -SequReD Eanes)
u
Ole pb REE > nO SRC crven,
Gilani
> sFomTaneHS = PON SFONTANEOUS
1b yo amor L sreton vein
—(1)
WORLEY FROM CHAT SALES SAUER uger,
»O/R; sever | AYP | aver Ack. Re. cs Puc 1x,
sues x oc. Pa, *
Te: aD eteat cation
> sc. PeRpe (OP)
scouw (1) FF SW FOR LOH A CHEK
G) ocervas =
2 Cease some enetT
te
Face CO SUMO SH ge ee arto CS)
°. me ons
Sedo a
Ls amnowmrr WaT YS ReseRVED I IS FO
INTO We BANK
PI, C00 (P) | 5,000 (ce) > momams mm TE ban
> aren cong wae, TO BE MAMTIMIED
Mn "We BON
G) SMRE INTEREST > pare Ne PNGEOK | MMEREST on waMMATS DE
Frese oman, — _sese Fe ©. r,e00, om (Fare vate)
is Fee WON 101 (47 stexeo wee)
wmevesr = (irr)
= 1 80,58)
Tor ex. some os (4)
EAR * om sas were = LICEH) ia [resco
ToL. wREEEEOD = Wi (4 9,00) = Wag FAR Teaco
T= FR = mene = alm
{1,000,000 ~ 100,000
and
GGUAL wo wstOALNEM(H OF FOEMEmS)
wm. atitericeo oa) EAR= aCra)( Pia 090)
Tae YC Pt.900, 609)
8D rameter
VW = WIS y
EARI ai cete clomid | EARS Tester) |||
FOR @X, | PING, MO
57.0) +B).
Wor (cor) EAR Sa TeTCTE
vr = (67) Pato 600) 2 Meg)
= PH,
Net proceens = FA -C8,
© PAOO.RU0 =TR6,c00
+ Bio 900
a) conPensaring BaLarKe Wl INT » CB eaens wert, THE uM WOME 1S OFONTED We Im. COST
imeresr / wn. cost = (CFA) BAR + Sanita
sr. weore =( nt. me. OCB) _Ta|= col
tor: rons0 (A) FEN =-Dimaoo2 = bao
BIG Pt,c00,00. = Py00 900.
P20 p00 (ce) = Pun ,000.
BE Cine. we, 7) Pro 00
my. =((a)}LP1,000.00) = 0.1886 = 15.96 7.
os) alte
wn. tncome = (3'7.9( 360,000)
= 4, Oh
(5) OF win Commercamine EON » CB RAKES We eTECTVE ENE OF NE GON HALLE WE YET SOLE GOUT i ReEHD,
EAR aoiie—e/ EARS
To wr Reve = O87
oR ex. Pa00,000 (FAD z P20, 000 Bi.
ERR = sams pamm=rmae EAR = Sapte
= P50, 000 aay
AsO 000 075
0.2 = 207.) 20.9 207}
260
aes To waIUATS
Ger meceeas / ner uSIKe oMouNT Coy =| Pe Se ceeaar Ree
= 0.0
= rpuinan (6)
3.25
= 0%
E —aenpon ons (st)
Y 5 sone oF eionce REA ree EF}
2235
WORN CORRAL [ie] es eee ern is a
y ct oa 4
Pears su] ch | of et. om,
) Fouries oponesswe — STF ¥ eee
consemvenne — UF sigat-TeR Laie — THN, MHaNCNG
esac Forcing 1b wee
Jel Ze mresest
= 0 > GF (imeresr)
Py of 1 ewe wneauone (pare) N= EIR ME
Geren) yi
Ky (P)__ 8G. eno. Pye A Mr = MRC
4
NAD WOAH ER=(=n)
Py oat x
Ly GT (ener) PV of U(M) 42
> MRC
D HONE OF REWRN Tem THE GmEEPMSE Us Fae TO SMITH TE FFOVOER CF HHKOS
» REO THe ANKE OF PROMOING NDS
meee WVETOR gee a= HIGH Ror = WO RWK
= 70 osess THE RIES =
(wecenes) = Crores) ye tho Pe = tbo else
tr
‘ooh cost (on me Mes) IS THe RIVER
OF We INVESTORS
» Degcned MARE OF We PURVEW OF THE MVESTOR, SO TH Y's WE ReTWR ‘WOT THEY ReGWRE,,
OW IIMEHES'S FORT OF Wiew, HS IS THE MOUNT OF THE COST HET "HEY OW FOS TOKE MNESTORL
© FS COOL GerimNaL caeMOL STRUCTURE Cocs)
is
1s ces conainaion
EE} won cs) = 4 tooesr Le 8D) > oes
“>. E = @).
i. Las “a fire? pecs We Ae Si
G ante cosy = ener peur =[\omee Rie]
GuGH cReOT RATING
Lytoure Rk oF ceroULT
2 SnD = ema eae
dy = canned one) R= cysnom. frie
ae eee eleva (Acta ices ies
ere area
(HF) cone, F 1s peRemnOGe
Je © ty ON GMowm Ten sustRaCT MH FROM THe PRE (P-F)
© con oF eaiNeD EARNINGS |
> wsoo 70 eatnnote OG OF FETAMED eGRHINES , OF THe OSSIMPTION THEN] THe MoReT WOME GE SHAKE 1S HARECND
RATT YO TE eAPETED FATURE PRIOENAS FARM THE SHE,
Ie < sive = Femon os
income CRE) ~ pelnveneD ; nO y~eD TO ReIssHe
er Bie g Ar erg)
> Dnrbend = MP
no FloTanon GOSS Beanse RE Is FROM TE Income, GHO THERE IS NO KSATEE OF Meme.» np Heed TO Reise T.
he = Cost oF couny, MRP > wonKer RISK PREM
RE = pro eee Rene > P= RE
4, = consent orien (7. x Par vaLue’)
R= Price,
F = Horoion «35 > pomeco WOK sve
(ef s es bese eee eee ee ee fe
D ymesest) THE TUN an eOTEHERKE MAST FOH TE MT LENGE,
1. 15 TOK eOUEIBLE OF IWS 1S To¥EN mo ORCBUET ML THE LENIMIONS
dented | PMTs enolate
TT moves ter 16 oeoucAe
dal > (heey = eA)
oe bowre EET SSS ee
mee saawes) cen = REF BUMEP)— Bn RE
PS (prerennco snoines),
lee
Abc kone SAE > swenouteR'S eaucty
FN). roy
FIN. syRucWwAe _coR. STRACINRE
v
x (ee eee
LOG = TeRM FINANCE —
> WED FOR MAJOR InWeSTINErTS
oe baeth | SRE cor, HEREeeis » Desr FIN|NCE OND
NOTES SHIRT TeRvn FMONCe — CURREHT UoBILMes (CL),
ong Yee FuNaGeT tong TERM YAMS (ay
cout (€)
2 QeBT FINaNGe -
FACTORS npuwercing OF
1) OUAKLOBLITS » cvaNLAgiLNY OF WE OeET,
a) CRED REIN » CR OF THE BONKS
3) OWQUTT 5 TOOL oMOWT oF WE FORCE
8) BARON » How Lore WiLL wou POY?
SYED OR ROOTING ROE > TEREST
L L, vomeaste wnenest fare
Inn, Doe rT nance
6) Seguamy OND covErNCe » TO coveR UDB,
> moRTGAGE
(© TE TPR BONDS OELCRIGES VARIOUS FORMS OF LONG TERM DeET O COMPA MOB KE
2) FlomINg, Rare WOON MOTES -> NORIBE Rae LOOK
G moet ar marker Rave
> ior erect m0 ote NENT a
Veo MIR by the BSP
> yoneple = SHBAONCTONE coon Eases
INT. POMMENTS = FA on FV (unr. Rove)
ImoreTaRY LOay) THOT IS REFNO Wh REGHOR FOKMEMS OVER O ser
Feniod_ oF Time.
>» wnTenesr -BeORING —> FED 7 STATED / cOvFON FETE
©) LOAN, PROGEEDS. OF TERM COON
“Woon ProCeens = REG. PuomenT (PY OF OA)
1) BECHLER PaLMeNT OF TERI Loan
oan PROCEEDS
PV oF On.
yee THE Team pERKD.
wid t
N= TeRM OF THE COND
1> ween / wr, Rane /meRNOL ROR ee OE Eee
Y REQLEMOLE aN MYMINOL VOLE OR GROVE NOM. VOL. WHEN THEY eveRTUOLY,
ROIING FUNDS THROUCH
“FOR YOU Doo
7= (== | TO FMO TwE Issue pArce (IP)
> TOIL RETURN MH'CIPOTeD OF O BOND IF THE FORD YS HELD YOM AT
“manne.
»
OAT 1s THE VMTERMGL ROME OF REIMAN OF GA my. MO BOND IF THE
TFSBT © coumon / umvenes Powmern
OCH TAT |e vad wound (ev) on tee otnouny (FA)
| P= Price
f= Yeo8s TO roTURTY
£10 COLE. ACTUAL YIM REGUNRG, TRIAL GND CRAOR BY PUTTING ROTeS tnt He
Approx: STM.
0 ACTION STN >
L See ae
> PX OF ImTEREST =) PY OF CA
POF PaunRieOL > PY OF A
on lanes
GWE WE HOUR THE RENT TO coneRT 16 aMeE secURMES (OROMARY sHOReS) GTO
“PReDeTeRMIMED PRICE / RATE ano WHE. > SHORE PRENNIA
O PREFERENCE WHORES > Give We RIGIT TO Receive DrVINENOS (FRED FERCEMAGE OF THE HOM. VOLE oF,
We shaves) newRe ony IDES con Ve PAD TO RONARY sHAREHOLOERS.
> PrereRence OS 10 BMHENDS.
=O +O oem tere pisenos
Us pesy-» memes} > eFFeeT> EPS) Lyerteg) on froRey RCRD
cost_gF THe Finances
CIMONCIOL LEVERAGE » He ermeNT To mG THEM AELLES On ORE
TE MORO BEST FINAN a FOAM woES oy MS capRL SRACIURE,
‘We Meme financGe UeVeOGE eNOS,
) Posmive (eveRaGe Deel A= omMROTING
RETURN on ASSETS > COS_OF SeBT FInancME eae |S
1b) eGoTIVe LeVeROGE i; venesr eORNNG,
> _ROTUEN on GSEETS COS oF GAGT FinaNCING,
La
i
G DEGF=To- eGInN PIO » 10 DeteANINE THE MOUNT OF FMANCIOL [evERAGE OF OR MNT
ono TT SHOWS THE rRORMRTION OF CET 10 WE COHWFOND's eGuTTY
HELPS THe COMEGNY'S MOrTGEMENT, LENDERS, SPOREMODSRS, and
THER STOKEHOLOERS WIDERSTORNID THE LeveL OF RIG In) THe COmnpaAnA's
“COPTOL STRUCTURE.
‘ooo come =
WIL coun
“i o
iy /ue 19 THE compan fo FueD DN.
w (Ser
Meer 1G necIRE O OY. OF NOT
0) LVEROGED HPAL STRUCTURE » FIXED ITIEREST CHARGES UMICH COMMUTES
1 GORMINGS MSTOBILTS.
1b) EXCESSIVE DEBT > DFFIONCT FOR HE FIRM 1g teRROIY FUNGS oF ReasONARLE
= RATES puRING WAT, PHONES MARKETS.
money — deer wr CHG) 7 Gan, won sm dover THE. 17 ORD PORE TORST TOO. MT. , CORNERING.
©) WEREDSE IN) THE FIRM'S CORNING BRFORE IMERES| OO Tres.
>» GREOTER THON PROPORTIONAL ncREHSE THE FIRIN'S CORRINGS FER SHORE.
1b) DECREDSE ™M IE FIRM'S EARNING [BEFORE IMERES AMO Tones.
> one THON FROPORTIONOL OECREDSE Mm TAC RRM'S eGMMRITGS PER SHAPE.
>
‘Y= re on
we
cor Py
Les: TEREST be)
PROT GRFORE THES x “gps = S2eNINES ayauL,_FOR_CSIMHON sox
Les) res 8) CS _CASTORDING
PROT OFFER TA¥ES, XX
Us PrerenseD TOO DIY x) “frees! + _new — ows
EoRnINGs ava. FOR CS AIG.
10 DeRee | OF FINANOAL LeyeR a _e A$ $a
G Loveroce oro aT measuRes we STUNTS OF a cyEOIO'S ERS TO
“RUICTOTION A/T EBT, a5 © RESAT OF CHONGES inns cA STRUCTURE
“pp. Leomee nw DEL > om every 1H cHonse yn geo
T. qorae wi es GFeFEMING CoM, EFS WOLD HOMER
> meagyre oF We ORGT FOATION GF GAM Ww RAGIN TO. WS cORAINES.
> wpcmes we COMPONG'S OBRY 10) MEET KEREST FOLMEMTS oR WE OEGACE
OF SOOTY GUOLARE TO CREDTORS.
reper cera pong = EST __ ] ee eats
Trrenesterrense J won 4
> MWDe
UROLNS COM Tho] HOS ROT BEEN NEEDED FOR OREROTING |COsIS , HIERES PUBENEMTS ,
OX LORLITIES, OST REELOCEMENT CR ost DIVIDENDS.
1 DWIDgN FOLEY » pEDGIONS THETA MME aGONT WHER TO NATRIEUTE,
“HOU HC CASH 10 CTRIAME, aNd Bs WHOT YET THE
“COS SHOULD BE. STRIETED.
D> WORE OF G CARH OMIEEND,
a) RESTRICT. SELF—FINONEING THROUGH RETRO cORHINGS
Se SHOREROLORRS SOD De RID G) REGSINABLE OWIORND, W UNE wih REOKISIC JOXPECIGIIONS | EVEN IF THE OMRECIORS WOMID RATHER HEED THE FUNDS FOR
renvestng
1) REIOUOL THEORY OF |PNNOSND FQLCY
» JF compans Com {OeTTIEY PROIECTS UM PIIMIVE NOW'S, mr sHOALD INVEST MN) THEN.
> ON WARN THESE INVESTMENT OPFORTUNITES Re) ENYAUIITED SHOVLD DMIDENDS Be FOI
2 NDERDS —> AOUNT GE GFTER TOR PROFTTS LerT ever ( REYOUCL OWN) AFTER
GETING OIG MONEY TH MVEST NM OW ViORLE | OPPORTUNITIES.
2) TRADITIONAL wew oF DNIpeND FAVES
>» Fotus On THe EFFECTS OF ADgTIS oD EMBED exPecTOMIONS On WORE FREE.
> PRE OF O SHARE — GOI CURKENT aD EATECITTONS OF FUUGE DIVIDEND GROUT, iver,
SHIREHODERS' NeGUIRED RATE CF) ROWN:
Reso
& 19 wvest
2) PAY DNIDENDS.
TROOTIONGL
envemes __b WO PADRES
1G Fecus_ on axPecrenONs|
co DvibenDs
> cag PA) OT OF aR,
wR OF OMMOeND FOUCIES
1 constant Fog Fe MOEN. FOL.
> a cepa, FEBCEMIIGE OF cURIS fs FOR TO
funens meen ONOLAD. FER GD
2» REGIE OWUIGEND FAUCY / FED OMT
> EO BEAR OWMEND eH RGD
> USED By FIRMS TO WERKE THe SEUUOR OMMEEND ONE A SUTEINORLE
> Divibenns one OLiMGST eveR CeCREDSAD,
Ci maRKET STRENGTH » seiore we
> abs
1) pce eomINES FOTO
> MACTBKE REFLECTS TO SOME EMENT THE GROWTH FOENIG oF A COANROIN
one We _YmRKeT evaLuoTION oF The _FIBMs eaRRINES..
ay DMEM wRLD FOTIO
> mcosine OF a comma TANSIOLOR'S| TOL YEN FOR THe PERO.
> 9S THE REOTONGIF OF COMMON HWIDENBS FRR GUE TO TE MaRKET
3) DNNOEND FayDUT ROTO
>(RegRETeAO 0 fre} oncosts_ wo oe SROHEDTS,
> sous wHeHER A FRM FW OMT MOT OF HS KORNNES In| OAABENDS OF
