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FundamentalsofCorporateFianance(7edition)公司理财复习提纲概要1
公司理财 复习
Chapter 1
Capital Budgeting Decision (Investment Decision):投资决策
Decision to invest in tangible or intangible assets.
Capital Structure: The mix of long term debt and equity financing.
The Financing Decision:融资决策
The form and amount of financing of a firm’s investment.
To raise the money that the firm requires for its investment and operation.
Real Assets: 实际资产,不动产
Assets used to produce goods and services.
Financial Assets: 金融资产
Financial claims to the income generates by the firm’s real assets.
(比如:the share of stock, a bank loan, securities)
Types of Business Organizations:
Sole Proprietorships:(好处:unlimited liabilities,)
Partnerships:(好处:pool money, unlimited liabilities, tax advantage, )
Corporations:
Limited Liability Partnerships(limited)
Agency Problems:代理问题
Managers are agents for stockholders, but the managers may act in their own interests rather than maximizing value.
Chapter 3:
The Balance Sheet: 资产负债表
A financial statement that shows the firm’s assets and liabilities at a particular time.
Assets
represent the uses of a firm’s funds
Liquid Asset – An asset that can be easily converted into cash. 容易转为现金
Note: The balance sheet places the most liquid assets at the top of the list and concludes with the least liquid asset at the bottom.
Liquidity (Most(Least): Marketable Securities, Accounts Receivable, Inventories
Current Asset – Assets that are likely to be used or turned into cash in the near future (usually within the next 12 months).未来可能被使用或转为现金
Examples: include accounts receivable inventories.包括应收账款和存货
Current Asset: Unsold Inventories
Fixed Assets –Tangible Assets, Intangible Assets, Goodwill
Liabilities
represent the sources of a firm’s funding
Current Liabilities – Liabilities that are likely to be paid off within the next 12 months.
Examples: accounts payable, debt due for repayment. 包括应付帐款和债务
Long-Term Liabilities – Liabilities that are not likely to be paid off within the next 12 months. 不需要在未来12个月内支付的债务
GAAP (Generally Accepted Ac
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