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AFC > AFC > Flashcards

AFC Flashcards

1
Q

• Cash Flow From Operating activities

A

EBIT * quality of operating earnings

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2
Q

• COST OF RAW MATERIALS IN THE PRODUCTION UNIT

A

Purchase of raw materials – Delta inventories(f-i)

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3
Q

• CURRENT ASSETS

A

current ratio * current liabilities

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4
Q

• D&A

A

EBITDA – EBIT

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5
Q

• DPO (DAYS PAYABLE OUTSTANDING)

A

(Payables / Cost of goods sold) * 365

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6
Q

• DPO

A

(Trade payables/Purchased of raw materials) * 365

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7
Q

• DSO (DAYS SALES OUTSTANDING)

A

(Receivables/Revenues) * 365

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8
Q

• EARNING PER SHARE (EPS)

A

Net profit / Common shares

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9
Q

• EBIT (operating profit)

A

total revenues – raw materials used – cost of personnel – D&A – other operating expenses + changes in inventories – IMPAIRMENT (if present)

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10
Q

• EBIT

A

cash flow from operating activities – D&A + DELTA (NWC) + income taxes paid + interest paid

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11
Q

• EBIT

A

EBT + Financial Exp – Financial Inc

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12
Q

• EBIT

A

EBT + net financial interests

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13
Q

• EBIT

A

net profit + income taxes + net financial expenses

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14
Q

• EBIT

A

revenues * operating profit margin

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15
Q

• EBIT MARGIN %

A

Operating profit (EBIT) / Revenues

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16
Q

• EBITDA

A

EBIT + D&A

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17
Q

• EBITDA

A

EBIT + D&A + Impairment of goodwill

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18
Q

• EBITDA

A

Revenues – Operating costs + Amortization and depreciation

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19
Q

• EBITDA

A

Revenues * EBITDA margin

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20
Q

• EBITDA MARGIN % (ROS)

A

(Operating profit (EBIT) + Depreciation & Amortization) / Revenues

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21
Q

• EBT

A

net profit + income taxes

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22
Q

• EBT

A

EBIT – Financial Exp + Financial Inc

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23
Q

• EFFECTIVE TAX RATE %

A

Taxes / Pre-tax profit

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24
Q

• FINANCIAL EXPENSES

A

EBIT – earning before taxes (EBT)

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25
Q

• FINANCIAL LEVERAGE

A

Debt / Shareholders equity (D/E)

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26
Q

• GROSS PROFIT

A

EBIT + Operating Expenses

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27
Q

• GROSS PROFIT

A

EBIT + selling and general administrative expenses – other operating income

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28
Q

• GROSS PROFIT

A

EBIT + Selling and General Administrative Expenses + Other operating Expenses – Other Operating Income

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29
Q

• GROSS PROFIT

A

EBIT – Other operating income + R&D expenses + Selling and Administrative Expenses + Other operating expenses

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30
Q

• GROSS PROFIT

A

Revenues – cost of goods sold

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31
Q

• ICR

A

EBIT / Interest Expenses

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32
Q

• NET CASH FLOW FROM OPERATING ACTIVITIES

A

EBIT + D&A and impairment + changes in inventories + changes in receivables + changes in payables – interest paid – income taxes paid

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33
Q

• NET FINANCIAL EXPENSES

A

financial expenses – financial revenues

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34
Q

• NET PROFIT

A

EBT –Taxes

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35
Q

• NET PROFIT

A

equity – reserves – share capital (number of shares * nominal price per share)

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36
Q

• NET PROFIT

A

revenues x net profit margin

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37
Q

• NET PROFIT MARGIN %

A

Net profit / Revenues

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38
Q

• NOT FOR PROFIT (NFP)

A

financial liabilities (current+ non-current) - cash and cash equivalents

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39
Q

• Purchase of raw materials

A

Cost for the consumption of raw materials + Variation of raw materials (final – initial)

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40
Q

• RAW MATERIALS USED

A

purchase of raw materials – (DELTA inventories)

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41
Q

• RECEIVABLES

A

current assets – inventories – cash and cash equivalents – current financial assets

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42
Q

• TRADE PAYABLES

A

Current liabilities – Current financial liabilities

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43
Q

• REVENUES

A

EBIT + cost of sales + other operating expenses + general administrative expenses

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44
Q

REVENUES

A

gross profit + cost of sales

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45
Q

• REVENUES (SALES)

A

EBIT + period costs + cost of goods sold

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46
Q

• REVENUES

A

total assets * assets turnover ratio

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47
Q

• ROA (RETURN ON ASSETS) %

A

Operating profit (EBIT) / Total Assets

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48
Q

• ROA

A

EBIT margin * Asset turnover ratio

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49
Q

• ROE (return to equity)

A

Net Profit / shareholders’ equity

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50
Q

• ROE

A

[ROI + Liabilities/Equity * (ROI - r)] *s

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51
Q

• ROI (RETURN ON INVESTED CAPITAL) %

A

operating profit (EBIT) / total assets – nonfinancial liabilities

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52
Q

• TAX RATE

A

Income taxes/ EBT

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53
Q

• TAXES

A

EBT * Effective tax rate

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54
Q

• TOTAL REVENUES

A

revenues+otheroperatingincome+ changes in inventories of finished goods

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55
Q

• Alpha’s holding quota in Beta’s Equity

A

Beta’s Equity * holding quota

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56
Q

• Minority interests (Beta)

A

Beta’s Equity - Alpha’s holding quota

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57
Q

• Current Assets (CA)

A

Alpha’s CA + Beta’s CA

58
Q

• Group EQUITY

A

Alpha’s Equity + Minority interests

59
Q

• Equity investments

A

capital + reserves (of bought company)

60
Q

• Non-current Liabilities (NCL)

A

Alpha’s NCL + Beta’s NCL

61
Q

• Current Liabilities (CL)

A

Alpha’s CL + Beta’s CL

62
Q

• GOODWILL AT ACQUISITION

A

Fair value of consideration transferred + fair value of non-controlling interests – Fair Value of net assets at acquisition

63
Q

• CARRYING AMOUNT

A

Asset historical cost – accumulated depreciation

64
Q

• DIVIDENDS

A

payout ratio * net profit

65
Q

• DELTA NET WORKING CAPITAL

A

(DELTA receivables) - (DELTA payables) + (DELTA inventories)

66
Q

• TV (terminal value)

A

FCFE / Ke

67
Q

• Tc

A

Taxes / EBT

68
Q

• Ke

A

FCFE / Tve

69
Q

• CAPEX COVERAGE %

A

CFFO / CAPEX (Capital expenditure)

70
Q

• DELTA CAPEX

A

new investments – disposal of assets

71
Q

• FCFF

A

FCFE + Financial expenses (NET) – Financial revenues (NET) + dividends paid – new loans

72
Q

• FCFE

A

EBIT*(1-t) + D&A + Change NWC (i-f) - Net Capex - Net Int * (1-t) + New Debt - Debt repaid + Capital Issued – Dividends

73
Q

• FCFE (actualized)

A

FCFEt /(1+Ke)^t

74
Q

• TV actualized

A

TV/ (1 + Ke) ^ t

75
Q

• DELTA CAPEX

A

purchase of new assets – disposal

76
Q

• DELTA share capital

A

increase – decrease in share capital

77
Q

• DELTA net debt

A

new loans – debt repayment

78
Q

• TV

A

FCFF * (1+g) / (WACC – g)

79
Q

• TV

A

FCFE * (1+g) / (Ke – g)

80
Q

• (1-tc)

A

[WACC – KeE/(E+D)] / [Kd D/(D+E)]

81
Q

• BETA LEVERED (BL)

A

(Ke – risk free rate) / (market premium)

82
Q

• BETA UNLEVERED

A

BL / (1 + (1-tc) * D/E))

83
Q

• WACC

A

D / ( E + D) * (1 – tax rate) * Kd + (equity / D + E)

84
Q

• WACC

A

E/(E+D) * ke + D/(E+D) * (1 – tax) * kd

85
Q

Ke

A

cost of equity

86
Q

Kd

A

Interest expenses / debt

87
Q

• BUDGET REVENUES

A

number of units * cost x unit

88
Q

• BUDGETED COGS

A

production sold * unitary production cost + cost of inventories sold

89
Q

• BUDGETED FULL PRODUCTION COST

A

direct material + manufacturing OVH + cost of direct labour

90
Q

• BUDGETED PERIOD COSTS

A

marketing + administrative costs + R&D

91
Q

BUDGETED PRODUCTION

A

Budgeted sales + Target ending finished goods – Beginning finished goods inventories

92
Q

BUDGETE D PERIOD COSTS

A

Period costs of 2021 * (1 + alpha)

93
Q

• CAPITAL QUOTA YEAR 1

A

Leasing rent - Interest quota year

94
Q

• COGS

A

cost of goods manufactured – inventory used

95
Q

• COST OF GOODS MANUFACTURED

A

cost of good available for sale (cost of goods sold) – cost of goods purchased -finished goods inventory (beginning)

96
Q

• COST OF GOODS MANUFACTURED

A

labor + material usage + overhead cost

97
Q

• Cost of goods sold

A

COGM – Inventories (at the end of the year)

98
Q

• DIRECT MATERIAL USAGE BUDGET

A

cost of goods manufactured – direct manufacturing labor – total overhead

99
Q

• EBIT

A

Revenues – COGS – Period Costs

100
Q

• EBIT

A

ROS * Revenues

101
Q

BUDGETED UNITARY PRODUCTION COST

A

full production cost / budgeted production

102
Q

• GROSS MARGIN

A

Revenues – Cost Of Goods Sold

103
Q

• INTEREST QUOTA YEAR 1

A

Debt year 1 x interest

104
Q

• MANUFACTURING OVH BUDGET

A

operators + supervisor + depreciation + other OVH

105
Q

• PERIOD COST BUDGET

A

Gross margin – EBIT

106
Q

• PERIOD COSTS 2021

A

period cost 2020 * (1 + alpha)

107
Q

• PERIOD COSTS

A

Gross margin - EBIT

108
Q

• Revenues (1 – ROS)

A

COGS + Period Costs

109
Q

• ROS * (Revenues)

A

Revenues – COGS – Period Costs

110
Q

• Variable budgeted costs

A

total budgeted costs – fixed budgeted costs

111
Q

• Per unit variable cost

A

variable budgeted costs / budgeted units

112
Q

• Total efficiency variable

A

total actual costs – flexible budget

113
Q

• Flexbilbe budget

A

budgeted fixed costs + (X unit variable cost * units produced)

114
Q

• E (market capitalization)

A

Net profit * price per share

115
Q

• FCFE (actualized)

A

FCFEt /(1+Ke)^t

116
Q

• EARNINGS GROWTH (EPS growth rate)

A

(EPS 2021- EPS 2020 / EPS 2020) X 100

117
Q

• EQUITY VALUE

A

FCFE actualized + TV actualized

118
Q

• Equity value

A

enterprise value / D&A

119
Q

• Equity value

A

price per share * number of shares

120
Q

• EPS

A

net profit / common shares (number of shares)

121
Q

• NFP

A

long term debt + short term debt – available cash

122
Q

• P/E (F)

A

market capitalization / net profit

123
Q

• P/E

A

price per share / EPS

124
Q

• PEG (D)

A

PE ratio / Earnings growth

125
Q

• PRICE

A

Average P/E * EPS

126
Q

• TERMINAL VALUE (TV)

A

FCFF * (1 + growth rate) / (WACC – growth rate)

127
Q

• TERMINAL VALUE

A

FCFE / Ke

128
Q

• ALLOCATION BASIS (SALES)

A

Sales (Bu 1) + (Sales BU2 + increase in sales BU2)

129
Q

• ALLOCATION COEFFICIENT

A

Corporate costs / Allocation basis (sales)

130
Q

• CORPORATE COSTS BU

A

Allocation coefficient * Sales

131
Q

• EBIT

A

EBIT margin * Sales (revenues)

132
Q

• EBIT AFTER

A

EBIT 1 – Corporate costs BU

133
Q

• PROPORTIONAL ALLOCATION METHOD

A

Weekly costs / Weekly capacity divided (capacity available)

134
Q

• FEE ALLOCATION METHOD

A

Weekl80y costs / Weekly capacity

135
Q

• TO PRODUCE

A

Additional units * number of machine-hours needed per unit

136
Q

TRANSFER PRICE

A

CVup * (1+Mark-up)

137
Q

• TRANSFER PRICE

A

(direct material + Direct labour + Manufactured overhead ) * (1 + mark-up of full cost)

138
Q

• UNITARY CONTRIBUTION MARGIN (MAIN BUSINESS)

A

Selling price – CVup – CVdown

139
Q

• UNITARY CONTRIBUTION MARGIN (SUBSIDIARY)

A

selling price – Transfer price - CVdown

140
Q

• CV (UP, the company that transfers)

A

Direct material costs + direct manufacturing OVH (depends on prod.Volume)

141
Q

• CV (DOWN, the company that receives)

A

direct material costs + direct manufacturing OVH (depends on

AFC (1 decks)

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