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## 会计代写|金融会计代考Financial Accounting代写|Different classes of owners

The above discussions also assume that all shareholders are identical. However, there may be several classes of share, and each class of shareholder will then have its own viewpoint on the performance of the business. For example, suppose now that the share capital of Bread Co. remains the same in total (see Figures $7.2$ and $7.3$ ) but includes $10,000 € 1$ preference shares, each bearing a fixed 10 per cent dividend entitlement, the ordinary share capital then being 60,000 and 66,000 at the ends of $20 \mathrm{X} 1$ and $20 \mathrm{X} 2$ respectively. The ROE (and ROCE) will be the same as previously shown. As a reminder, the ROE, taking before-tax figures to ease comparison, was:
\begin{aligned} 20 \times 1: \frac{12}{94} & =12.8 \text { per cent } \ 20 \times 2: \frac{22}{106} & =20.8 \text { per cent } \end{aligned}
However, it is also possible to calculate the return on ordinary owners’ equity (ROOE). For this, the preference share capital must be deducted from the denominator, and the preference shareholders’ dividend return must be deducted from the numerator. So, we have:
\begin{aligned} & \text { ROOE in } 20 \times 1=\left(\frac{12-1}{94-10}\right)=\frac{11}{84}=13.1 \text { per cent } \ & \text { ROOE in } 20 \times 2=\left(\frac{22-1}{106-10}\right)=\frac{21}{96}=21.9 \text { per cent } \end{aligned}
This leads to a more complete set of data, as shown in Table 7.5.

The effect on the ordinary shareholders of adding a tranche of preference shareholders, with a lower dividend, is similar to the gearing effect on all shareholders together of adding a tranche of debentures with a lower interest rate. Again, this is only an advantage to the ordinary shareholders when profits exceed a certain level.

## 会计代写|金融会计代考Financial Accounting代写|Liquidity ratios

This section explores some ratios related to the liquidity (i.e. cash or near-cash position) of a business. A number of ratios can be calculated that compare short-term assets with short-term liabilities. Each ratio uses a different interpretation of just how short term the assets or liabilities should be. The shorter the term considered, the more prudent, pessimistic or safe is the approach adopted. Each ratio in this section shows the extent to which the particular definition of ‘short-term assets’ chosen would allow the repayment of the short-term liabilities in existence at that date. They all assume that the assets concerned will turn into cash at their balance sheet values.
Three common ratios are:

1. Cash ratio $=\frac{\text { Cash }+\text { Marketable securities }}{\text { Current liabilities }}$
2. Acid test (or quick assets) ratio $=\frac{\text { Current assets }-\text { Inventory }}{\text { Current liabilities }}$
3. Current (or working capital ) ratio $=\frac{\text { Current assets }}{\text { Current liabilities }}$

## 会计代写|金融会计代考Financial Accounting代写|Different classes of owners

Bread Co. 的总股本保持不变 (见图7.2和 $7.3$ ) 但包括数学输入错误 优先股，每股夹有固定的 $10 \%$ 的股息权利，普通股泾本 在年底分别为 60,000 股和 66,000 股 $20 \mathrm{X} 1$ 和 $20 \mathrm{X} 2$ 分别。ROE（和 ROCE）将与之前显示的相同。提醒一下，为了便于比较， 采用税前数据的 ROE 是:
$$20 \times 1: \frac{12}{94}=12.8 \text { per cent } 20 \times 2: \frac{22}{106} \quad=20.8 \text { per cent }$$

ROOE in $20 \times 1=\left(\frac{12-1}{94-10}\right)=\frac{11}{84}=13.1$ per cent $\quad$ ROOE in $20 \times 2=\left(\frac{22-1}{106-10}\right)=\frac{21}{96}=21.9$ per cent

## 会计代写|金融会计代考Financial Accounting代写|Liquidity ratios

1. 现金比率 $=\frac{\text { Cash }+\text { Marketable securities }}{\text { Current liabilities }}$
2. 酸性测试（或快速格产) 比率 $=\frac{\text { Current assets – Inventory }}{\text { Current liabilities }}$
3. 当前 (或荣运诏金) 比率 $=\frac{\text { Current assets }}{\text { Current liabilities }}$

## MATLAB代写

MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中，其中问题和解决方案以熟悉的数学符号表示。典型用途包括：数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发，包括图形用户界面构建MATLAB 是一个交互式系统，其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题，尤其是那些具有矩阵和向量公式的问题，而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问，这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展，得到了许多用户的投入。在大学环境中，它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域，MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要，工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数（M 文件）的综合集合，可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。

Posted on Categories:Financial Accounting, 会计代写, 财务会计, 高级财务会计

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Replacement cost (RC) is often referred to as an entry value because it is the cost to the business of acquiring an asset. In crude terms it may be defined as the estimated amount that would have to be paid in order to replace the asset at the date of valuation.

This is a useful working definition, but it is crude as it begs a large number of questions, some of which will be discussed below.

The definition includes the word ‘estimated’ because the exercise is a hypothetical one in that the method is based on the question, ‘How much would it cost to replace this asset today?’ Since the asset is not being replaced, the answer has to be found from an examination of the circumstances prevailing in the market for the asset under review. If the asset is identical with those being traded in the market, the estimate may be reasonably objective. Thus, if the asset is a component which is still being manufactured and used by a business, its replacement cost may be found by reference to manufacturers’ or suppliers’ price lists. However, even in this apparently straightforward case, there may still be difficulties in that the replacement cost may depend on the size of the order. Typically a customer placing a large order will pay a lower price per unit than someone buying in small lots. In some types by the different prices paid for food by large supermarkets and small grocery shops. This observation leads to the conclusion that in certain instances it will be necessary to add to the above definition of replacement cost that the estimate should assume that the owner of the asset would replace it in ‘the normal course of business’, in other words that the replacement would be made as part of the normal purchasing pattern of the business.

The difficulties inherent in the estimation of replacement cost loom very much larger when we turn our attention to assets which are not identical to those that are currently being traded in the market, including those which have been made obsolete by technological progress. A special, and very important, class of non-identical assets is used assets because all used assets will differ in some respect or other from other used assets of a similar type.

## 会计代写|高级财务会计代考adv Financial Accounting代写|Net realisable value

The net realisable value of an asset may be defined as the estimated amount that would be received from the sale of the asset less the anticipated costs that would be incurred in its disposal. It is sometimes called an exit value as it is the amount realisable when assets leave the firm.

One obvious problem with this definition is that the amount which would be realised on the disposal of an asset depends on the circumstances in which it is sold. It is likely that there would be a considerable difference between the proceeds that might be expected if the asset were disposed of in the normal way and the proceeds from a forced and hurried sale of the assets. Of course, it all depends on what is meant by the ‘normal course of business’ and, while the phrase may be useful enough for many practical purposes, it must be remembered that it is often not possible to think in terms of the two extreme cases of ‘normal’ and ‘hurried’ disposals. There may be all sorts of intermediate positions between these extremes. It can thus be seen that there may be a whole family of possible values based on selling prices which depend on the assumptions made about the conditions under which assets are sold and that, particularly in the case of stock, great care must be taken when interpreting the statement that the net realisable value of an asset is $£ x$.

As is true for the replacement cost basis of valuation, the difficulties associated with the determination of an asset’s net realisable value are less when the asset in question is identical, or very similar to, assets which are being traded in the market. In such circumstances the asset’s net realisable value can be found by reference to the prevailing market price viewed from the point of view of a seller in the market. The replacement cost is, of course, related to the purchaser’s viewpoint. If there is an active market, the difference between an asset’s replacement cost and its net realisable value may not be very great and will depend on the expenses and profit margins of traders in the particular type of asset.

## MATLAB代写

MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中，其中问题和解决方案以熟悉的数学符号表示。典型用途包括：数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发，包括图形用户界面构建MATLAB 是一个交互式系统，其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题，尤其是那些具有矩阵和向量公式的问题，而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问，这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展，得到了许多用户的投入。在大学环境中，它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域，MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要，工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数（M 文件）的综合集合，可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。