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Module 3 – Case

CAPITAL BUDGETING AND THE COST OF CAPITAL

Assignment Overview

Before starting on this assignment, make sure to thoroughly review the required background materials. Make sure you fully understand both the basic concepts as well as how to calculate payback period, NPV, IRR, and WACC. Submit your answers in a Word document. Make sure to show your work for all quantitative questions and fully explain your answers using references to the background readings for any conceptual questions. Questions 1 and 2 will require Excel. Attach an Excel file to show your computations for Questions 1 and 2.

Case Assignment

  1. The table below gives the initial investment and expected cash flows over the next five years for two different projects. Assume that the industry you are in expects a return of 10%, which you use as the discount rate in net present value (NPV) calculations and as the required rate of return for purposes of deciding on projects. Also, assume that management only wants to invest in projects that pay off within four years.

For each project, compute the payback period, NPV, and internal rate of return (IRR). Then explain whether each project should be accepted based on these three criteria.

Project A

Project B

Initial Investment

$40,000

$28,000

Year

Cash Flows

1

$10,000

$10,000

2

$10,000

$13,000

3

$10,000

$5,000

4

$10,000

$5,000

5

$10,000

$6,000

  1. Suppose you are planning on becoming a vendor at the arena where your favorite sports team plays. You are trying to decide between opening up a souvenir stand selling T-shirts, caps, etc., with your sports team’s logo or opening up a hot dog and beer stand. It is more expensive to open up the hot dog and beer stand because you need to purchase a license to serve alcohol and you need to spend money to comply with health department regulations. Revenue from the souvenir stand is likely to be unpredictable because fans of your favorite team tend to want to purchase hats and T-shirts only when the team is winning. Revenue from hot dogs and beer seem to be a little more steady since fans want to eat and drink regardless of whether the team is winning.

    Below is a table with the initial investment cost of each type of stand and the annual payments you expect over the next five years. The annual payments will be different depending on how well your team does. Therefore, you will estimate how much cash flow you will get depending on whether your team does better than expected (optimistic), the same as the past few years (most likely), and worse than expected (pessimistic). Use a discount rate of 8%.

Based on the table below, answer the following items:

  1. Calculate the net present value (NPV) for each type of stand under each of the three scenarios. Calculate the range of possible NPV values for each type of stand.
  2. Based on your answer to A) above and your own guesses about how well you think your favorite team will do over the next five years, which type of stand would you rather invest in?

Souvenir Stand

Hot Dog and Beer Stand

Initial Investment

$100,000

$150,000

Annual Cash Inflows (5 Years)

Outcome

Pessimistic

$30,000

$50,000

Most likely

$50,000

$60,000

Optimistic

$70,000

$70,000

  1. Suppose you are a corn farmer in your home state. You have to decide between two projects. One project is to purchase new equipment for your farm that will help boost your profits for the next 10 years. You also find out that you can purchase a large banana farm in Brazil for the same price as the equipment, and at the current market price for bananas you will make a lot more profit than you would from purchasing new corn farming equipment.

    After asking around, you find out that the standard discount rate for evaluating the NPV of the farming project is 6%. Most farmers in your home state seem to use this rate successfully. However, you don’t know any other banana farmers and you don’t know too much about farming in Brazil, so you have to make a guess on an appropriate discount rate for the Brazilian banana farm. Based on the concepts from the background readings, would you say the Brazilian banana farm will need a lower or higher discount rate? A lot larger or smaller, or only a little?

  1. Calculate the following:
    1. The cost of equity if the risk-free rate is 2%, the market risk premium is 8%, and the beta for the company is 1.3.
    2. The cost of equity if the company paid a dividend of $2 last year and is expected to grow at a constant rate of 7%. The stock price is currently $40.
    3. The weighted average cost of capital (WACC) if the company has a total value of $1 million with a market value of its debt at $600,000 and a market value of its equity at $400,000. Its cost of debt is 6% and its cost of equity is 15%. The tax rate it pays is 25%.
  1. Suppose you own a chain of dry cleaners and the WACC you’ve been using to make decisions on new purchases of dry cleaning equipment is a steady 9%. Recently, gambling has been made legal in your home town so you decide to expand and open up a casino. Should you use the same WACC to evaluate purchases of casino equipment? Why or why not? What are some alternatives to using the same WACC to make decisions on casino equipment? Explain your reasoning, and make references to concepts from the background readings.

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Module 2 – SLP

TOTAL QUALITY MANAGEMENT

Assignment Overview

Continue working with the company you founded in Module 1. You have already analyzed a key process, process improvement, and productivity. It is now time to add TQM to the mix.

TOTAL QUALITY MANAGEMENT (TQM)

The SLP focuses on the quality and quality management of your company.

Two types of research are required for SLPs in class:

  • General research on Quality and TQM which may be found in course readings, the library, or online.
  • Research on real companies engaged in the type of business that you have chosen.

SLP Assignment

Company Overview (may be the same every module)

Provide an overview of your company.

  • Company name
  • Location (can be virtual)
  • The type of business. Keep the concept simple and focused on one thing. Be specific.

This section should be no longer than ½ page

Quality Management in the Industry

Research the importance of quality in the industry. Provide background on the concept.
Explain how the company can use quality management based on industry research.

Identify at least three areas of types of quality focus (e.g., product quality, etc.) in the company.
This section should be 1 ½ pages in length. Research is required.

Measurement Tools

Discuss how quality is measured in the three target areas (in the last section).

What quality tools and techniques that can be used to chart, diagnose, and improve quality in these three areas?

This section should be 1½ pages in length. Research is required.

Quality Management

Research quality management programs such as TQM, Six Sigma, or ISO9000. Learn how they are applied and which best fit your company. Consider quality tools and techniques that are used for process control, quality, or employee involvement.

Investigate the types of quality programs and recommend the best program or programs for your company to use and explain why. Be sure to include a focus on the consumer.

This section should be 1 ½ pages in length. Research is required.

Since you are engaging in research, be sure to cite and reference the sources in APA format. The paper should be written in third person; this means words like “I”, “we”, and “you” are not appropriate. For more information see Differences Between First and Third Person. The excessive use of quotes or unoriginal content will directly impact performance since it suggests lack of comprehension and indicates that a student may not have mastered the concepts.

Module 2 SLP Background Readings

Quality Improvement Methods
The Integration of TQM and Six-Sigma (29 pages) By Ching-Chow Yang
Lean Six Sigma – Making It ‘Business as Usual’ (11 pages) By Graham Cartwright and John Oakland

Environmental Benefits of Lean Methods

SLP Assignment Expectations

    Use the attached APA-formatted template (OPM500 SLP2) to create your submission.

    Your submission will include:

    • Trident University International’s cover page
    • The body will be 5 pages with APA citations (2- to 3-sentence introduction, body, 2- to 3-sentence conclusion)
    • The reference list page in APA format

    Module 2 – Background

    TOTAL QUALITY MANAGEMENT

    Required Reading

    Week 1 Discussion Background Readings

    Total Quality Management TQM (Video 1:00) (2019)
    What is Total Quality Management (TQM)?
    Quality Management for First-Class Product Quality and Customer Satisfaction (Video 3:30) (2019)

    Week 2 Discussion Background Readings

    What is TQM? A company-wide strategy for customer satisfaction (2019)
    Quality management technology trends for 2019
    Investigating Customer’s Perspective of Service Quality Management (2019)

    Module 2 Case Background Readings

    Qualitative and Quantitative Analysis of Six Sigma in Service Organizations (41 pages) By Ayon Chakraborty and Kay Chuan Tan

    Module 2 SLP Background Readings

    Quality Improvement Methods
    The Integration of TQM and Six-Sigma (29 pages) By Ching-Chow Yang
    Lean Six Sigma – Making It ‘Business as Usual’ (11 pages) By Graham Cartwright and John Oakland

    Environmental Benefits of Lean Methods

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    Module 2 – Case

    TOTAL QUALITY MANAGEMENT

    Assignment Overview

    Quality Management in Action

    Total Quality Management (TQM) has an important role in any company; with the implementation of this program, companies can continuously improve their performance. Thus, organizations will be able to considerably meet their internal and external clients’ needs in terms of services and product quality and develop an efficient and profitable business.

    Case Assignment

    TQM and Six Sigma

    Research Instructions: In Trident’s Library, research Six Sigma: Refine your Search and select:

    • Scholarly & Peer-Review
    • Journal Article
    • Last 5 years
    • Sort by Relevance

    You must use at least two articles from the Trident Library databases for this section of the case.

    • Present a well-balanced academic discussion on Six Sigma. It may be general in nature or focused on a specific industry that complements your career goals or experience. (2 pages)

    Services and Manufacturing

    Research how Six Sigma is applied in each of the two types of entities. Provide a specific company example. Your research should be comprised of quality resources. (2 pages)

    Industry Pros: Metrics

    Internet search time. Using blogs, articles or information written by at least three experts from different companies, discuss Six Sigma metrics championed by professionals. Be sure to explain how customers benefit from quality improvements. (1 page)

    Conclusion (2-3 sentences)

    • Wrap up the discussion with an overview of future research needed or trends in the area.

    Since you are engaging in research, be sure to cite and reference the sources in APA format. The paper should be written in third person; this means words like “I”, “we”, and “you” are not appropriate. For more information see Differences Between First and Third Person. The excessive use of quotes or unoriginal content will directly impact performance since it suggests lack of comprehension and indicates that a student may not have mastered the concepts.

    Module 2 Case Background Readings

    Qualitative and Quantitative Analysis of Six Sigma in Service Organizations (41 pages) By Ayon Chakraborty and Kay Chuan Tan

    Assignment Expectations

      Use the attached APA-formatted template (OPM500 Case2) to create your submission.

      Your submission will include:

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      BUDGETING, VARIANCE ANALYSIS, AND PERFORMANCE EVALUATIONS

      Assignment Overview

      T&P Fashion Shops

      T&P Fashion Shops is a new chain that operates 10 stores in major malls throughout the United States. Each store manager is responsible for preparing a flexible budget for the store. T&P headquarters accumulates and analyzes the information for each store and in the aggregate.

      Below is the forecast (budgeted income statement) for the Houston store showing the breakdown of fixed and variable expenses in columns two through four. The last column shows the actual results. 

      T&P Fashions – Houston Store
      Breakdown of Expenses (Forecast)ForecastFixedVariableActualRevenues$1,400,000$1,260,000Cost of Sales790,000790,000760,000Gross Profit$610,000$500,000Management182,000154,70027,300182,000Shop assistants258,000154,800103,200262,000Rent23,20018,5604,64022,000Utilities34,80034,80031,000Misc. expenses24,50012,25012,25029,000Total expenses$522,500$526,000Net income$87,500$(26,000)==================

      Additional Information

      • Variable expenses are based on revenues and we assume that the percentage remains constant for flexible budgeting purposes.
      • Fixed costs are all within the relevant range.
      • Other expenses are all specific to this store. Headquarters pay for marketing and corporate overhead expenses.

      Case Assignment

      Required:

      Computations (use Excel)

      1. Prepare a flexible budget and show variances for the year that passed. Indicate whether the flexible budget variances are favorable or unfavorable.
      2. Headquarters are contemplating charging each store a 5% marketing expense based on sales. How will that affect the operating profit of the store and the money available for managerial bonuses based on actual results for the past year? Summarize the information in a table.

      Memo (use Word)

      Write a 4- or 5-paragraph memo to the division manager explaining the flexible budget variances; how to interpret the information and what action, if any to take. Comment on the 5% marketing proposal too. Start with an introduction and end with a recommendation. Each of the four or five paragraphs should have a heading.

      Short Essay (use Word)

      Start with an introduction and end with a summary or conclusion. Use headings.

      • Discuss how to interpret static and flexible budget variances.
      • What are the benefits of variance analysis? How can such analysis be detrimental rather than beneficial to the organization?

      Assignment Expectations

      Each submission should include two files: (1) An Excel file and (2) a Word document. The Word document shows the memo first and short essay last. Assume a knowledgeable business audience and use required format and length. Individuals in business are busy and want information presented in an organized and concise manner.

      Module 4 – Background

      BUDGETING, VARIANCE ANALYSIS, AND PERFORMANCE EVALUATIONS

      Modular Learning Objectives

      Keep the following objectives in mind as you work through the material in this module:

      • Define the role of budgeting in an organization.
      • Identify the use of budgets.
      • Recognize different types of budgets.
      • Prepare and analyze budgets.
      • Differentiate between a static budget and a flexible budget.
      • Apply variance analysis.

      Required Reading

      This module covers budgeting and variance analysis. Explore these topics further while keeping the above six objectives in mind. Click on the three arrows to explore each topic in more detail.

      The Role of Budgeting

      Types of Budgets

      Flexible Budgets and Variance Analysis

      Check Your Understanding

      Check your understanding to make sure that you have a good grasp of the background material. If you are not comfortable with the concepts, review some of the material again or go to the optional resource for more examples.

      Click on the quiz icon for an ungraded, 20-question true-or-false self-study quiz to check your progress. If you are not satisfied with the score, review some of the material again. For more in-depth information, review materials listed under optional reading at the bottom of this page.

      Final Thoughts

      Key aspects of budgeting are planning and control. Budgets also serve as tools of communication.

      Planning is crucial to an organization. It provides a framework for making decisions by establishing goals, objectives, and strategies. It is oriented toward the future and involves an awareness of how today’s decisions will affect tomorrow’s opportunities. Planning is essential for achieving both short- and long-run organizational goals, and successful managers are continuously planning.

      Budgets are objective and are measurable. Results-oriented objectives are the foundation for controlling operations. Controls also involve the monitoring of the implementation of plans through performance reviews. They are used to compare actual results with objectives.

      A flexible budget can be adjusted for changes in assumptions or variations in the level of operations. A budget can be adjusted for changes in assumptions or variations in the level of operations. Variance analysis based on flexible budgets are therefore more meaningful than those based on a static budget.

      Optional Reading

      For further detail refer to Dr. Walther’s accounting text and videos.

      Walther, L. (2017). Chapter 21: Budgeting—Planning for Success.

      LICENSES AND ATTRIBUTIONS

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      Data Communication II

      Similar to wide-area networks, local-area networks are an example of communication networks interconnecting several devices for information exchange. The LAN design is usually for a single floor or building, but it can also reach to multiple buildings via routers and bridges. The design is shared medium rather than switching nodes. The internal data rates for LANs are greater than for wide-area networks.

      Reviews sections 12 and 13 of the Data Communication and Networking e-textbook.

      https://books.google.com/books?id=bwUNZvJbEeQC&pri…

      Assignment

      Submit the answers to the assignment below in a 3- to 4-page Word document.

      Exercises 1 and 2 were extracted from Forouzan (2007, p. 465).

      1.What is the hexadecimal (hex) to binary equivalent of the following Ethernet address? What is the equivalent of hex to decimal? Use the http://www.binaryhexconverter.com/ converter for the calculations.

      0101101000010001 0101010100011000 1010101000001111

      2.Design a system of three LANs with four bridges. The bridges (B1 to B4) connect the LANs as shown below. Show diagram in Word and use any diagramming tool to demonstrate the design (Forouzan 2007, p.465).

      a.B1 connects LAN 1 and LAN 2.

      b.B2 connects LAN 1 and LAN 3.

      c.B3 connects LAN 2 and LAN 3.

      d.B4 connects LAN 1, LAN 2, and LAN 3.

      3.Can we replace the bridge with a router? Explain the consequences.

      4.Which one has more overhead, a bridge or a router? Explain your answer.

      5.Which one has more overhead, a repeater or a bridge? Explain your answer.

      6.Which one has more overhead, a router or a gateway? Explain your answer.

      Assignment Expectations

      The report should:

      Demonstrate clear understanding of the subject and address all key elements of the assignment.

      Show analysis, synthesis, and evaluation of required material.

      Demonstrate writing proficiency at the academic level of the course; address the Learning Outcomes of the assignment.

      Use and cite relevant and credible sources to support assertions. The report is well organized and follows the structure of a well-written paper. APA style format is applied for all citations.

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      he Case in this course is an ongoing exercise, meaning that we will continue to review one company over the course of our four modules. In Module 3, we will be conducting a strategic analysis of Pepsico.

      Specifically, the Module 3 Case requires that you identify the primary business strategy employed by Pepsico. You will also be providing a critical, written analysis evaluating that strategy in the context of the strengths, weaknesses, opportunities, and threats you identified in Module 2.

      Required Reading

      Refer to the required and optional readings related to strategic choices, the theme of Module 3.

      Case Assignment

      In a 6- to 8-page paper, respond to the following:

      1. Which of the four generic (Porter) strategies does Pepsico follow, and how do you know?
      2. Integrate the strategy you have identified above with the strengths, weaknesses, opportunities, and threats you identified in Module 2 (this exercise should provide you with some specific actions the company should be taking relative to its strengths, weaknesses, opportunities, and threats. These actions are referred to as “strategic choices”). Do Pepsico’s strategic choices align with the firm’s generic strategy? If not, what are the specific points of disconnect? Think critically about this step, as no company achieves perfect alignment of its strengths, weaknesses, opportunities, and threats with its chosen strategy. As the MBA, it is your job to uncover the discrepancies and problems.
      3. How can Pepsico leverage its strengths and shore up its weaknesses by altering its strategic choices? How can the company take advantage of environmental opportunities and minimize environmental threats by altering its strategic choices? Be specific.
      4. Complete the paper by commenting on how your view of Pepsico’s vision and mission has changed or has been reconfirmed by this process of strategic analysis. Would you make any suggestions to revise the company’s vision, mission, or values statements, or to any of its goals/objectives?

      5. Consider the Case as a formal business report that you are developing for the Board of Directors and CEO as Pepsico’s consultant. This is a professional document. Follow the format below:

      Executive summary: This is a synopsis of the main points, conclusions, and recommendations made in the longer report. If you would like a refresher on writing an executive summary, check this website: http://www.csun.edu/~vcecn006/summary.html
      Introduction: State the main purpose of the paper (thesis statement), what you hope to accomplish, and how you will go about doing it.
      Main Body: The “meat” of the paper. Emphasize analysis, not just description. Delineate separate topics or sections with headings.
      Conclusion: Summarize your paper in light of your thesis statement.

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      Module 4 – Case

      INCIDENT COMMAND SYSTEM; PRINCIPLES AND FEATURES PART II; DISASTER PREPAREDNESS

      Case Assignment

      You are the Logistics Section Chief LSC2). During a recent disaster (Hurricane Harry) the Incident Commander (IC) informs you at the Emergency Operations Center (EOC) that he needs extra medical supplies as soon as possible since the number of persons injured has risen faster than anticipated. Additionally, the IC informs you of the following:

      1. There will be a significant shortage in drinking water, food, and temporary shelter. The heavy rains and possible flooding have made the use of tents rather dangerous.
      2. Expect several elderly persons; some are Covid-19 compromised; others with disabilities. Special care services will be needed.

      Based on these limited facts, briefly state the decisions that you must make at this time to procure what is needed.

      1. Describe how you as LSC2, within the context of the EOC, would prioritize the demands.
      2. How would you delegate your staff of 4?

      You may outline what steps you would take to ease the critical situation.

      Papers should be at a minimum 4 pages long, not counting the cover and references pages.

      Assignment Expectations

      Length: This Case Assignment should be at least 4-6 pages not counting the title page and references.

      References: At least two references should be included from academic sources (e.g., peer-reviewed journal articles). Required readings are included. Quoted material should not exceed 10% of the total paper (since the focus of these assignments is critical thinking). Use your own words and build on the ideas of others. When material is copied verbatim from external sources, it MUST be enclosed in quotes. The references should be cited within the text and listed at the end of the assignment in the References section (preferably in APA format).

      Organization: Subheadings should be used to organize your paper according to question.

      Grammar and Spelling: While no points are deducted for minor errors, assignments are expected to adhere to standard guidelines of grammar, spelling, punctuation, and sentence syntax. Points may be deducted if grammar and spelling impact clarity.

      _____________________________________________________________________________________________________

      Module 4 – Background

      INCIDENT COMMAND SYSTEM; PRINCIPLES AND FEATURES PART II; DISASTER PREPAREDNESS

      Required Reading

      EOC organizations structures and staffing: Management and operations (2012, December). Mississippi Emergency Management Agency. Retrieved from https://www.msema.org/wp-content/uploads/2018/10/03_sm_structures_dec2012.pdf
      Ignore Discussion Questions after each section.

      FEMA and federal partners continue to support areas affected by the aftermath of Sandy (2012). FEMA. Retrieved from https://www.govloop.com/community/blog/fema-and-federal-partners-continue-steadfast-support-for-areas-affected-by-superstorm/ [Review the various federal agencies that are coordinated with FEMA.]

      FEMA overview of federal efforts to prepare for and respond to Hurricane Maria (2018). Retrieved from https://www.fema.gov/blog/overview-federal-efforts-prepare-and-respond-hurricane-maria

      FEMA provides update on federal support to Hurricane Irma response (2018). Retrieved from https://www.fema.gov/news-release/20200220/fema-provides-update-federal-support-hurricane-irma-response

      How to address equity as part of COVID-19 incident command (2020, May 6). Institute for Healthcare Improvement. Retrieved from http://www.ihi.org/communities/blogs/how-to-address-equity-as-part-of-covid-19-incident-command

      National Preparedness Resource Library, FEMA http://www.fema.gov/national-preparedness-resource-library

      Required Website

      Coronavirus Emergency Management Best Practices. FEMA. https://www.fema.gov/coronavirus/best-practices

      FEMA. https://www.fema.gov/

      Incident Command System Resources. FEMA. https://training.fema.gov/emiweb/is/icsresource/

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      Module 4 – SLP

      LEVERAGE, CAPITAL STRUCTURE, AND DIVIDEND POLICY

      Review the 1) dividends for the past three years and 2) capital structure of the company you have been researching for your SLP assignment. Then answer the following questions in a Word document (except for the Excel portion specifically noted). The paper should be 2 pages in length.

      1. What has occurred with your selected company’s dividend payout, dividend yield, and dividend per share over the past three years? Do you have any explanations for what has occurred? Also, has this company had any stock splits or stock repurchases in recent years?
      2. How does your selected company’s dividend payout, dividend yield, and dividend per share compare with other companies in its industry? Has the company’s dividend strategy been similar to other companies in its industry?
      3. Use Excel to plot your selected company’s earnings and dividends over the past three years. Do you notice any patterns? What dividend policies from the background readings best match these patterns?

      SLP Assignment Expectations

      • Answer the assignment questions directly.
      • Stay focused on the precise assignment questions. Do not go off on tangents or devote a lot of space to summarizing general background materials.
      • For computational problems, make sure to show your work and explain your steps.
      • For short answer/short essay questions, make sure to reference your sources of information with both a bibliography and in-text citations. See the Student Guide to Writing a High-Quality Academic Paper, including pages 11-14 on in-text citations. Another resource is the “Writing Style Guide,” which is found under “My Resources” in the TLC Portal.

      Module 4 – Background

      LEVERAGE, CAPITAL STRUCTURE, AND DIVIDEND POLICY

      Required Reading

      Please read through the following book chapters. Pay special attention to the concepts of operating leverage, financial leverage, business vs. financial risks, and the major theories of capital structure choices.

      Vernimmen, P., Quiry, P., Dallocchio, M., Le, F. Y., & Salvi, A. (2017). Chapter 32: Capital structure and the theory of perfect capital markets in Corporate finance: Theory and practice. John Wiley & Sons, Incorporated.ISBN:978-1-119-45180-8. Available in the Trident University Library.

      Vernimmen, P., Quiry, P., Dallocchio, M., Le, F. Y., & Salvi, A. (2017). Chapter 33: Capital structure, taxes and organisation theoriesin Corporate finance: Theory and practice. John Wiley & Sons, Incorporated.ISBN:978-1-119-45180-8. Available in the Trident University Library.

      Finally, take a look at the following book chapter on dividend policy. Take a close look at the concepts of regular dividend policy and low-regular-and-extra dividend policy, as well as stock splits and stock repurchases:

      Clive, M. (2012). Chapter 15: Dividend policy. Financial management for non-financial managers. Kogan Page. Available in the Trident Online Library.

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      Module 4 – Case

      LEVERAGE, CAPITAL STRUCTURE, AND DIVIDEND POLICY

      Assignment Overview

      Before starting on this assignment, make sure to carefully review the background readings. Part A requires you to make some computations, and Part B requires you to analyze some scenarios using your knowledge of the concepts. So make sure to go through the computational examples in the required readings and also thoroughly review the key concepts before starting on this assignment.

      Case Assignment

      Part A: Quantitative Problems

      1. Suppose QuickCharge Corporation manufactures phone chargers. They sell their chargers for $20. Their fixed operating costs are $100,000 and their variable operating costs are $10 per charger. Currently they are selling 30,000 chargers per year.
        1. What is QuickCharge’s EBIT (earnings before interest and taxes) at current sales of 30,000?
        2. What is QuickCharge’s breakeven point?
        3. Calculate the EBIT if QuickCharge’s sales increase 50% to 45,000 chargers. What is the percent of change in EBIT under this increase in sales? Also, calculate the EBIT if the company’s sales decrease 50% to 15,000 chargers. What is the percent of change in EBIT under this decrease in sales?
        4. What is QuickCharge’s degree of operating leverage? Based on your computation, what does its operating leverage say about QuickCharge’s business risk?
      1. The StayDry Umbrella Corporation will have an EBIT of $100,000 if there is a normal amount of rain this year. But if there is a drought, they will have an EBIT of only $50,000. The interest rate on debt is 10%, and the tax rate is 35%. The company does not pay any preferred dividends.
        1. If StayDry has zero debt and 50,000 outstanding shares, what will its EPS (earnings per share) be if there is normal rain? What will its EPS be if there is a drought? What is its DFL (degree of financial leverage)?
        2. Now suppose StayDry has decided to take on $300,000 in debt and has used these funds to buy back half of the outstanding shares so now there are only 25,000 outstanding shares. What is the new EPS and DFL for both normal rain and drought?
        3. Based on your answers to a) and b) above, what are the trade-offs management has to make between zero debt or $300,000 in debt? What are the benefits and disadvantages of taking on this debt?

      Part B: Conceptual Questions

      1. For each of the following scenarios, explain whether the situation describes financial risk or business risk. Explain your answers to each scenario using at least one of the references from the background readings:
        1. A pharmaceutical company has developed a new cancer treatment drug that has a much higher success rate than other drugs currently in the market. It has the potential to triple the company’s profits. However, the FDA has expressed concern about some side effects, and it is not clear if the FDA will approve the drug.
        2. An airline has an EBIT of $100 million per year. However, it also has a huge amount of debt and pays $97 million per year in interest. Its EBIT is relatively stable but tends to go up or down by $5 million or so each year depending on the economy.
        3. A basketball franchise earns an EBIT of $50 million a year when its team has a winning year. However, it earns only $10 million when its team has a losing year.
      1. Explain what capital structure theory (or theories) best describes the following situations. Make sure to cite at least one of the required textbook chapters for each answer, and to cite at least two references for this section:
        1. A CEO decides to borrow $50,000 in new debt, and the share prices rise dramatically. He then decides to sell half of his own personal shares, and when this is reported in the Wall Street Journal, the share prices drop dramatically in value.
        2. The corporate tax rate rises from 35% to 45%, and the XYZ Corporation decides to issue more debt. A year later, bankruptcy laws are changed to become much stricter and costlier. XYZ then decides to pay back half of its debt.
        3. A CEO named Joe Bigwig is known for living large with very expensive cars and a huge mansion. Joe is seeking a large loan from a bank to finance some new projects for his corporation. However, the bank becomes concerned when they find out that he recently used company funds to buy a brand-new company jet and also schedules numerous business trips to Hawaii and stays in five-star hotels. The bank tells Joe he will receive the loan only if he agrees to scale back on his personal expenses and not give himself or any other executives a raise until the loan is paid back.

      Assignment Expectations

      • Answer the assignment questions directly.
      • Stay focused on the precise assignment questions. Do not go off on tangents or devote a lot of space to summarizing general background materials.
      • For computational problems, make sure to show your work and explain your steps.
      • For short answer/short essay questions, make sure to reference your sources of information with both a bibliography and in-text citations. See the Student Guide to Writing a High-Quality Academic Paper, including pages 11-14 on in-text citations. Another resource is the “Writing Style Guide,” which is found under “My Resources” in the TLC Portal.

        Module 4 – Background

        LEVERAGE, CAPITAL STRUCTURE, AND DIVIDEND POLICY

        Required Reading

        Please read through the following book chapters. Pay special attention to the concepts of operating leverage, financial leverage, business vs. financial risks, and the major theories of capital structure choices.Vernimmen, P., Quiry, P., Dallocchio, M., Le, F. Y., & Salvi, A. (2017). Chapter 32: Capital structure and the theory of perfect capital markets in Corporate finance: Theory and practice. John Wiley & Sons, Incorporated.ISBN:978-1-119-45180-8. Available in the Trident University Library.Vernimmen, P., Quiry, P., Dallocchio, M., Le, F. Y., & Salvi, A. (2017). Chapter 33: Capital structure, taxes and organisation theoriesin Corporate finance: Theory and practice. John Wiley & Sons, Incorporated.ISBN:978-1-119-45180-8. Available in the Trident University Library.Finally, take a look at the following book chapter on dividend policy. Take a close look at the concepts of regular dividend policy and low-regular-and-extra dividend policy, as well as stock splits and stock repurchases:Clive, M. (2012). Chapter 15: Dividend policy. Financial management for non-financial managers. Kogan Page. Available in the Trident Online Library.

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      Module 2 – SLP

      COST–VOLUME–PROFIT ANALYSIS

      Second part of the presentation. See background information for the Module 1 SLP.

      Required:

      Include the following items in your presentation:

      • What about special pricing for some markets or customers?
      • Determination of customer profitability.
      • Show effect on revenues and profitability based on stated assumptions.
      • Potential advantages and disadvantages, both financial and non-financial.

      SLP Assignment Expectations

      Submit a PowerPoint presentation or a Word Document. A PowerPoint presentation should have no more than six slides and a Word document cannot exceed two pages. Use words, tables, and graphs to make a succinct presentation. Document all sources and provide links at the end. It is acceptable to add another slide or page to list the sources.

      Combine the submissions from prior module(s) into one file before uploading to the SLP 2 Dropbox.

      Module 1 – Background

      ACCOUNTING COST SYSTEMS AND COST BEHAVIOR

      Modular Learning Objectives

      Keep the following objectives in mind as you work through the material in this module:

      • Define managerial accounting.
      • Describe the role of managerial accounting.
      • Differentiate between variable and fixed costs.
      • Prepare a contribution margin (variable costing) income statement.
      • Recognize various approaches to categorizing costs.
      • Prepare and analyze a segmented income statement.

      Required Reading

      Begin this module by familiarizing yourself with the following sections pertaining to managerial accounting while keeping the above six objectives in mind. Click on the three arrows to explore each topic in more detail.

      The Role of Managerial Accounting

      Cost Behavior

      Segmented Income Statements

      Check Your Understanding

      Check your understanding to make sure that you have a good grasp of the background material. If you are not comfortable with the concepts, review some of the material again or go to the optional resource for more examples.

      Click on the quiz icon for an ungraded, 20-question true-or-false self-study quiz to check your progress. If you are not satisfied with the score, review some of the material again. For more in-depth information, review materials listed under optional reading at the bottom of this page.

      Final Thoughts

      Contribution margin income and absorption income are two distinct approaches to assess operating profit. Many companies use both approaches. The two approaches have benefits and limitations.

      Multiple descriptive names exist for the two methods of costing and computation of income. For example, the contribution margin approach is also known as variable costing, direct costing. or marginal costing. Absorption income and costing are also known as full costing, GAAP income, financial accounting income, or traditional costing.

      Management mostly uses the information provided by variable costing method for estimates and internal decision-making purposes. Variable costing is appropriate for detailed analysis of a product or service. GAAP is required for publicly released and audited financial statements. Management uses both approaches for internal decision-making.

      Cost behavior refers to the way different types of production costs change when there is a change in level of production.

      There are two main types of costs according to their behavior:

      Fixed Costs:

      Fixed costs are those, which do not change with the level of activity within the relevant range. These costs will incur even if no units are produced. For example rent expense, straight-line depreciation expense, etc. Fixed cost per unit decreases with increase in production.

      Variable Costs:

      Variable costs change in direct proportion to the level of production. This means that total variable cost increase when more units are produced and decreases when less units are produced. Although variable in total, these costs are constant per unit.

      Optional Reading

      For further detail refer to Dr. Walther’s accounting text and videos.

      Walther, L. (2017). Chapter 17: Introduction to Managerial Accounting.

      LICENSES AND ATTRIBUTIONS

      Trident University Internatio

      COST–VOLUME–PROFIT ANALYSIS

      Assignment Overview

      The Annie Smith Dance Center

      The Director of Annie Smith Dance Center is asking for assistance with the financial aspects of running a professional group of performers. She wants financial information presented in an easy to read format and a better understanding of the profitability of the concerts and the organization as a whole.

      The Annie Smith professional group features three styles of dance concerts each year. Two of the dance concerts showcase a different genre. The third performance is a Christmas Spectacular, which is the most popular and is therefore scheduled every year. The table below provides information about expected ticket sales for the performances.

      Lower Orchestra Section (A)Upper Orchestra Section (B)DescriptionsNo. of Seats.Ticket PriceTickets sold per performanceNo. of seatsTicket PriceTickets sold per performanceHip-Hop Performance150$85100%450$5090%Jazz and Tap Dance150$85100%450$5060%Christmas Spectacular150$125100%450$50100%

      Ms. Smith has prepared a tentative schedule for the coming season. The table below also shows the type and number of performances and direct cost per type of concert.

      DescriptionsNumber of PerformancesCost per Dance Concert
      (direct fixed costs)*Hip-Hop Concert10$48,000Jazz and Tap Dance586,000Christmas Spectacular2022,000Total Direct Fixed Costs$156,000

      *Examples of direct fixed costs are costumes, rehearsals, royalties, guest artist fees, choreography, and salaries of production staff, music, and wardrobe for each of the concerts. This amount does not change with the number of performances.

      Additional costs:

      Variable costs associated with each performance are shown below.

      Musicians$6,100Rental of auditorium2,500Dancers’ compensation6,700

      Annual general administrative and operating costs for the dance center are:

      Administrative staff$185,000Insurance25,000Marketing115,000General office expenses90,000

      Case Assignment

      Required:

      Computations (use Excel)

      • Summarize key financial information in a table as shown below.

      TitleName of Dance ConcertRevenues/
      PerformanceVariable Costs/
      PerformanceContribution Margin/
      PerformanceNumber of PerformancesTotal Contribution/
      Type of Dance ConcertDirect Fixed CostsSegment Margin/
      Type of Concert1.2.3.Total

      • Use the information in the table you completed to compute the number of performances required to break even for each concert. Do not include general and administrative expenses. These are separate computations for each dance concert.
      • Compute break even for the organization as a whole (include all fixed expenses) and express the result in revenues instead of the number of performances.
      • Ms. Smith wants the Dance Center to generate at least $200,000 in operating profit. What level of revenues does the performance group need to achieve to meet this goal? Prepare an income statement in good format to support the computations.
      • Give a recommendation about changes Ms. Smith can implement to achieve the target profit. Support your idea with computations.

      Memo (use Word)

      Write a 4- or 5-paragraph memo to the owner of the dance center to assist her in interpreting the financial analysis. Start with an introduction and end with a recommendation. Each of the four or five paragraphs should have a heading.

      Short Essay (use Word)

      Start with an introduction and end with a summary or conclusion. Use headings.

      • What are some shortcomings of multi-product even analysis?
      • How does demand and resource constraints affect this type of analysis.

      Assignment Expectations

      Each submission should include two files: (1) An Excel file and (2) a Word document. The Word document shows the memo first and short essay last. Assume a knowledgeable business audience and use required format and length. Individuals in business are busy and want information presented in an organized and concise manner. 

      Module 2 – Background

      COST-VOLUME-PROFIT ANALYSIS

      Modular Learning Objectives

      Keep the following objectives in mind as you work through the material in this module:

      • Define of cost-volume-profit.
      • Understand the relationship between variable costing and cost-volume-profit analysis.
      • Apply and analyze break-even.
      • Compute break-even in units.
      • Compute break-even in sales.
      • Analyze target profit.

      Required Reading

      Variable and fixed costs were introduced in the prior module. Now it is time to examine cost behavior in more detail by familiarizing yourself with the following while keeping the above six objectives in mind. Click on the three arrows to explore each topic in more detail.

      Cost-Volume-Profit Analysis

      Determining Break-Even

      Determining Target Profit

      Check Your Understanding

      Check your understanding to make sure that you have a good grasp of the background material. If you are not comfortable with the concepts, review some of the material again or go to the optional resource for more examples.

      Click on the quiz icon for an ungraded, 20-question true-or-false self-study quiz to check your progress. If you are not satisfied with the score, review some of the material again. For more in-depth information, review materials listed under optional reading at the bottom of this page.

      Final Thoughts

      Cost-Volume-Profit (CVP) analysis is a computational method that analyzes the effect of sales and product costs on the operating income of a business. Specifically, it assesses the effect of changes in variable costs, fixed costs and selling price on operating income. Break-even analysis (with or without a target profit) is a common CVP approach. Another definition of break-even is where the total contribution margin equals total costs. A contribution margin income statement shows zero income at break-even.

      Several assumptions underlie CVP analysis:

      • All cost can be categorized as variable or fixed.
      • Sales price per unit, variable cost per unit, and total fixed cost are constant.
      • Mixed costs must be split into their fixed and variable component by an estimation process.
      • Understanding the behavior of costs makes cost-volume-profit analysis possible.

      Optional Reading

      For further detail refer to Dr. Walther’s accounting text and videos.

      Walther, L. (2017). Chapter 18: Cost-Volume-Profit and Business Scalability.

      LICENSES AND ATTRIBUTIONS

      Trident University Internatio

      A project plan is a document created at the beginning of the project lifecycle that gives stakeholders and everyone else involved a clear idea of what the project will entail in terms of effort, time, cost, and anticipated results. 

      The methodology or approach the project manager plans to use to manage the project must be identified before the project plan can be created. Choosing a methodology is important because a methodology provides the framework—that is, an overall process and suggested documents and deliverables—that will guide project development from beginning to end. Some project methodologies are more appropriate for some types of projects than for others. 

      Over the next few weeks you will develop pieces of a project plan. This week you will determine your methodology based on project requirements and the components needed in your plan.

      Read the Manage Your Health Inc. Case Study and complete the assignment below.

      Consider the differences between Agile and waterfall.

      Select 1 methodology to use for a project plan for this initiative.

      Create a simplified project plan such as the examples listed in the “Tips” section below. Check the examples or you will get this wrong. Include, at least, the following criteria for each task:

      • Name of task
      • Duration
      • Predecessors. What is the last task that needs to be completed before you start on this task? That is its “predecessor.” Each task after the first one has a predecessor.
      • Notes

      Choosing a Methodology chart example

      After completing your simplified project plan, write at least 175 words about the following two items:

      • Define which methodology, Agile or waterfall, is most appropriate for this project. Why? Cite at least 2 sources to support your rationale.
      • Describe the following four roles for this project. Not just generic role definitions, but what would they do on this project: 
      1. project manager
      2. project sponsor
      3. business analyst
      4. scrum master or program manager

      You may create your simplified project plan using Microsoft®?Excel®?or another software application of your choice. 

      Trident University Internatio

      In this assignment, you are in the role of an HR consultant. There is a critical deliverable that your client’s CEO expects from you:

      This organization’s CEO would like you to convince his staff that his organization needs to begin the process of changing from being a traditional “1980s-style” employer, to an “employer of the future.” But he really doesn’t know what that means.

      Prepare and deliver a persuasive, 10- to 12-minute audio-visual presentation to be given to the top management staff of a cotton-ball manufacturer that has 150 regular, full-time employees in one location.

      Some of the top staff is adamantly opposed to outsourcing any work and also opposed to hiring temporary employees. They have not heard of the competency approach. Make recommendations based on what you have learned in your research and MSHRM program. You may need to convince key staff members to change their minds and take steps into the future, but in order to be successful you will need to be enlightening and persuasive.

      Your submission should be a PowerPoint slide presentation with speaker notes.

      The presentation should include all relevant information, including data analyses (charts, graphs), decision criteria, changes needed, and so forth.

      Include at least 4 valid sources to strengthen the discussion.

      Upload your assignment by the module due date.

      Assignment Expectations

      Address all aspects of the assignment.

      Your assignment should demonstrate critical thinking and analysis of the relevant issues and HRM actions, drawing upon the required background readings and any relevant sources from your prior courses and your own research. Limit your browser search and focus instead on the Trident Online Library for sources.

      Prepare an audio-visual presentation that is as professionally prepared as possible. Proofread carefully for grammar, spelling, and word-usage errors.

      Oral Communications Emphasis

      Looking back at HRM520 SLP 1, and HRM522 SLP 4, you should recall attention given to building oral communications skills. In both assignments you were given the opportunity to participate in speech preparations—first by preparing a speech write-up and then a slide presentation.

      Now in this final segment related to oral communications, you are asked to add an audio component that is accompanied with visuals.

      These three assignments work together to enhance your oral communications preparation and delivery skills.

      The grading rubric has been developed to measure student success in meeting the HRM599 Case 3 expectations related to oral communications. Rubrics for the other two courses are included in their respective oral communications assignments.

      Your submission will be assessed on the criteria found in the grading rubric for this assignment:

      • Organizational Pattern
      • Language Choices
      • Delivery Techniques
      • Supporting Materials
      • Central Message

      Trident University Internatio

      Cyber security tools are available to organizations requiring integration of its problem management, configuration management, and incident management processes. 

      The CEO and CIO need you and your team to create an IRP and change management plan. These plans will help the organization choose the appropriate cyber security tool. (PLEASE BE SURE TO USE APPLE AS THE ORGANIZATION)

      Part I: Incident Response Plan

      Incident response is a disciplined methodology for managing the aftermath of a security breach, cyberattack, or some other security incident. An IRP provides an organization procedures that effectively limit the impact on the data, system, and business and reduces recovery time and overall cost. 

      Create a 1- to 2-page IRP Microsoft Word for the organization you chose in Week 1. In your plan, ensure you:

      • Discuss roles and responsibilities.
      • Discuss the critical activities for each of the 5 phases in the incident response process.
      • List at least 3 cyber security tools that work together to monitor the organization’s network for malicious and abnormal activity.
      Part II: Change Management Plan

      Change management plans define the process for identifying, approving, implementing, and evaluating necessary changes due to new requirements, risks, patches, maintenance, and errors in the organization’s networked environment.

      Create a 1- to 2-page Change Management Plan in Microsoft Word for your chosen organization. In your plan, ensure you discuss:

      • Roles and responsibilities
      • The use of swim lanes and callouts
      • Who should be involved in developing, testing, and planning
      • Who reviews and signs off on the change management requests

      Briefly describe how a change management plan reduces the organization’s risk from known threats.

      Part III: Cyber Security Tool Comparison

      Create a 1- to 2-page table that compares two of the industry-standard tools that integrate incident management and change management. 

      Recommend the best tool for the organization to the CEO and CIO. Explain how it maintains compliance with the organization’s regulatory requirements.

      Research Material

      Trident University Internatio

      In recent years, the evolution in LAN products has brought about rapid changes in the technology design and commercial applications of LAN. These changes consider a variety of new high-speed local networking and the development of practical and effective wireless LANs. The OSI model is briefly introduced to appreciate the internal functions of communication systems. This module also introduces the basic elements of data transmission. The readings explore the mechanisms involved in the successful transmission of data between two devices across a transmission medium. Signal encoding and synchronization are discussed in terms of analog and digital transmission techniques.

      TCP/IP was the result of protocol research and experiments on packet-switched network by the ARPANET group funded by DARPA (Defense Advanced Research Projects). This protocol consists of a series of protocols issued as Internet standards. A number of applications work on top of TCP and include SMTP (Simple Mail Transfer Protocol), FTP (File Transfer Protocol), and TELNET to provide remote logon functionality. TCP/IP v.4 is the fourth version used to identify devices based on an addressing scheme. Most currently, the v.6 version is in place but not widely deployed yet. There are certain differences between TCP/IP layers when compared to the OSI model, and these are reviewed in the course materials.

      Assignment

      In this module, you are to review sections 1–5 of the Data Communication and Networking e-textbook, and readings on TCP/IP protocol to address the following questions, then write a 8 to 10 page (excluding cover page and references) report answering the following questions.

      What are the different categories of networks? Compare and contrast the different types of network topologies.

      1.How is information sent across a transmission medium from the physical layer?

      2.Compare and contrast frequency spectrum and bandwidth.

      3.What is encoding? What are the different combinations of encoding? Explain the uses of digital and analog encoding.

      4.Briefly define important factors that can be used in evaluating or comparing the various digital-to-digital encoding techniques.

      5.What are the different categories of modulation to change digital signals to analog signals?

      6.What is TCP/IP protocol?

      7.Is it always necessary to use TCP/IP for Internet systems? How is this protocol and the Internet related?

      8.What are the five most critical communications functions that TCP/IP is able to perform?

      9.Is the TCP/IP protocol difficult to understand? Why or why not?

      10. What are the similarities and differences between IP v.4 and IP V6?

      Trident University Internatio

      The design phase of the software development process is complete and implementation is under way. It is during this phase that quality becomes an issue and the verification and validation process must be employed. The most important aspect of Quality Assurance is planning. Verification and validation processes rely heavily on the requirements for a software application, and a good test plan should be based on the requirements to ensure they are met. For this assignment, you will be preparing a test plan for your application and adding this test plan to your Software Development Plan that you have been working on in the first three modules of the course

      The project deliverables are:

      • Title Page
      • Table of Contents
      • Test Plan
        • Write a section of your report to address the quality standards and goals to be achieved by the verification and validation process. The standards should define the level of quality required before the application is released into production and should be stated in measurable terms.
        • Prepare a test coverage matrix based on the requirements of your application you wrote previously. The test matrix should demonstrate that your tests will provide full coverage of the application.
        • Write a white box test plan to be used during the implementation phase of the project. The white box test plan should address some parts of the test matrix and should provide guidance to ensure the quality of the code meets the internal quality standards defined for the project. Test cases should accompany the white box test plan.
        • Write a black box test plan to be used for completed application modules and for functional testing after the application is functionally complete. The black box test plan should address parts of the test matrix and should include test cases.
        • Execute your test plans and provide results of your tests.
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