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Acc502 Unit 4

ASU Evening Program Kaplan Fall'11

QuestionAnswer
What are the components to the Dupont Model for ROE? NI/ Sales * Sales/ATA * ATA/ ASE = NI/ASE
What are the components of ROA using the Dupont Model? (Net Income)/Sales * Sales/(Ave. Total Assets), basically Profit Margin * Asset Turnover
What's the main shortcoming of the Dupont model? Doesn't distinguish between Operating and Nonoperating: Assets, Liabilities, Revenues, Expenses
What does NOPAT stand for? Net Operating Profit After Tax ==> Net operating profit before taxes - taxes on operating profit.
What does NOA stand for? Average Net Operating Assets
What is the Easton et al.'s equation for Operating Return? NOPAT/ NOA
How does one find the taxes on operating profit? Tax expense (from income statement) + Pretax net Nonoperating Expenses * statutory tax rate (- Pretax Net Nonperating Revenues * statutory tax rate)
What's the equation for Gross Profit Margin? 1- (Cost of Goods Sold)/Sales
What's the equation for Inventory Days 365/(COGS/Average Inventory)
What's the equation for Receivable Days 365/(Sales/Avg Accts Rec)
What's the equation for Accounts payable days? 365/(COGS/Avg AP)
From where is the cash to cash cycle measured? Operating cycle, minues accounts payable days
What's the equation for interest coverage ratio (Net income + Income tax expense +Interest Expense)/Interest expense
What is the current ratio, and what's the equation for it? Shows the amount of assets to the liabilities, basically how much the copmany is leveraged. Current Assets/Current Liabilities
What is the quick ratio, and what's the equation for it? (Cash + marketable securities + AR) / current liabilities
Created by: 562911135