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发表于 2018-10-11 14:59:32 13 浏览 0 回复

BEC Computation公式

Chapter1
1.      EffectiveAnnual Percentage Rate = [ 1+(i/p)]p-1
           i= stated interest rate, p =Compounding periods per year
2.      AnnualPercentage Rate:
          [(Principle * Stated interest rate *1/n)/ available funds] * n
                      n = how many time paid ina year.
3.      Simpleinterest:
         SI = P0(i)(n)
P0= Oringinal Principal, i = Interest rate per time period, n = Number oftime periods
4.      CompoundInterest
          FVn = P0 (1+i)n
P0= Oringinal Principal, i = Interest rate per time period, n = Number oftime periods
Chapter2
1.      WACC= Cost of equity * the percentage equity in capital structure + Weightedaverage cost of debt * the percentage debt in capital structure
2.      Weightedaverage interest rate = Effective annual interest payments/ debt outstanding
3.      Costof prefereed stock = Preferred stock dividends/ Net proceeds of preferred stock
4.      TheCapital Asset Pricing Model (CAPM)
Costof RE = Risk free rate + Risk Premium
            = Risk free rate + (Beta * Marketrisk premium)
            = Risk free rate + [Beta * (Marketreturn – Risk free rate)]
5.      DiscountedCash Flow (DCF)
Costof Retained Earnings = (D1/P0) +g
           P0 = Current market value or price of the outstanding commonstock
            D1 =The dividend pershare expected at the end of one year
            G= The constant rate of growth individends.
6.      The BondYield Plus Risk Premium (BYRP)
Costof RE = Pretax cost of long term debt + Market risk premium
7.      Growthrate
Growthrate(g) = Retention ratio (rr) * Return on Equity (ROE)
            = (1 – dividend rate) * Return onEquity
8.      Returnon Investment (ROI) = NI/ Invested Capital = Profit Margin * Investmentturnover
  ******* NI = Income – Interest – taxes
9.      Returnon assets (ROA) = NI/ Assets
10.  Returnon Equity (ROE) = NI/ Shareholder’s equity
11.  Debtto capital ratio = Total debt/ Total Capital
******** TotalCapital = Debt + Equity
12.  Debtto equity ratio = Total debt/ Total shareholders’ equity
13.  Timesinterest earned ratio = Earnings before interest and taxes (EBIT)/ interestexpense
14.  Currentratio = Current assets/ current liabilities
15.  Quickratio = (Cash + Marketable securities + Receivables)/ Current liabilities
16.  CashRatio = (Cash + Cash equivalents)/ current liabilities
17.  CashConversion cycle = Inventory conversion period + Receivables collection period –Payables deferral period
18.  Inventoryturnover = COGS/ Average inventory
19.  Inventoryconversion period = 365/ inventory turnover
20.  AccountsReceivable turnover = Credit Sales/ Average AR
21.  Receivablescollection period = Days sales outstanding (DSO) = 365/ AR turnover
22.   Accounts Payable turnover = COGS/ Average AP
23.   Accounts Payable deferral period = 365/ APturnover
24.  Workingcapital turnover = Sales/ Average working capital
25.  Assetturnover = Sales/ Assets
26.  ProfitMargin = NI/ Sales
27.  Investmentturnover = Sales/ Average investment
28.  Beginninginventory + Purchase – Ending inventory = COGS
29.  Reorderpoint = Safety Stock + (Lead time * Sales during lead time)
30.  EOQ
          E= √(2SO/C)
**E=Order size, S= Annual sales, O=Cost per purchase order, C = Annual Carryingcosts per unit
31.  APRof quick payment of discount = [360/ (pay period – Discount period)] *[Discount/ (100- discount%)]
***it is the annual cost for not taking advantage of the discount.
32.  Annuitypresent value = C * (1 – Present value factor/r)
                  = C *[1 –1/ (1+r)t]/r
        *** C = Amount of annuity, r = Rate ofreturn, t=Number of years
33.  Presentvalue of a perpetuity = Stock value per share = P = D/R
   **** P = Stock price, D = dividend, R =required return
34.  Growthdividend discount Model (DDM):  Pt= D(t+1)/ (R-G)
** Pt =Current price (Price at period “t”)
  D(t+1) = Dividend one year afterperiod “t” = D0 * (1+G)
  R = Required return
  G = (Sustainable) growth rate
35.  Requiredrate of return (R) (CAPM)
         Rce = Rf + Bi[(E(Rm)– Rf ]
***Rce = Required rate of return on the equity security
Rf = Risk free rate of return, Bi =Beta on the security
E(Rm) = Expected return on market
36.  P/ERatio = P0/E1
*****P0 = Stock price or value today, E1 = EPS expected in oneyear
37.  TrailingP/E Ratio = P0/E0
***** P0 = Stock price orvalue today, E0= EPS for the past year
38.  PEGRatio = (P0/E1)/G
*****P0 = Stock price or value today, E1 = EPS expected in oneyear,
      G= Growth rate = 100 * expected growthrate
39.  Priceto sales ratio = P0/S1
*****P0 = Stock price or value today, S1 = Sales expected inone year
40.  Priceto cash flow ratio = P0/CF1
*****P0 = Stock price or value today, CF1 =Cash flow expectedin one year
41.  P/BRatio = P0/B0
***P0 = Stock price or value today, B0= Book value of commonequity = Asset-liabilities-preferred stock = Common stock + Additional paid incapital + Retained Earnings
42.  Profitabilityindex = Present value of net future net cash inflow/Present value of netinitial investment
43.  Paybackperiod = Net initial investment/ Annual net after tax cash flow
44.  Manufacturecost =DM used + DL + Manufacturing overhead used
Chapter3
1.       COGS Manufactured = Beginning WIP + Manufacturalcost – Ending WIP
2.       Ending inventory = Beginning inventory + COGSManufactured – COGS
3.       Contribution Margin = Revenue – Variable costs
4.       Controllable Margin = Contribution Margin –Controllable fixed Costs
5.       Contribution by SBU = Controllable Margin –Noncontrollable fixed costs
6.      FinancialLeverage = Assets/Equity
7.      DupontROE = Net profit Margin * Asset turnover * Financial leverage
              = ROA * Financial leverage
8.      Taxburden = NI/pretax income
9.      Interestburden = Pretax income/ EBIT
10.  EBITmargin = EBIT/Sales
11.  ExtendedDuPond ROE = Tax burden * Interest burden * EBIT margin * Asset turnover *Financial leverage
12.  Residualincome = NI – Required return
13.  Requiredreturn = Net book value * Hurdle rate
14.  Economicvalue added = Net operating profit after taxes (NOPAT) – Required return
15.  Requiredreturn = Investment * WACC
Chapter4
1.      SimpleLinear Regression Model
               Y = a + Bx
2.      FlexibleBudget Formula
            Total cost = Fixed cost + [Variablecost per unit * # of units]
3.      Contributionmargin ratio = Contribution margin/ Revenue
4.      Breakevenpoint in units = Total fixed costs/Contribution margin per unit
5.      Breakevenpoint in dollars = Unit price * Breakeven point (in units)
6.      Breakevenpoint in dollars = Total fixed costs/contribution margin ratio
7.      Sales(units) = (Fixed costs + Pretax profit)/Contribution margin per unit
8.       Margin of safety (in dollars) = Total sales –Breakeven sales
9.       Margin of safety percentage = Margin of safetyin dollars/Total sales
10.   Target cost = Market price – Required profit
11.  Operatingcash flow ratio = Cash flow from operations/ current liabilities
12.  Workingcapital turnover = Sales/Average working capital
13.   Gross margin = (Sales – COGS)/Sales
14.   Operating margin = Operating income/ Sales
15.   ROE = (NI – Preferred dividends)/Averageshareholders’ equity
16.   Budgeted sales + Desired ending inventory –Beginning inventory = Budgeted production
17.  Unitsof DM needed for a production period + Desired ending inventory at the end ofthe period – Beginning inventory at the start of the period = Units of DM to bepurchased for the period.
18.   Beginning inventory at cost + Purchase at cost– Ending inventory at cost = Direct materials usage (cost of materials used)
19.   Budgeted production (in units) * Hoursrequired to produce each unit = Total # of hours needed * hourly wage rate =Total wages.
20.  COGSManufactured + Beginning finished goods inventory – Ending finished goodsinventory = COGS
21.  Standarddirect costs = Standard price * standard quantity
22.  Standardindirect costs = Standard application rate * standard quantity
23.  DMprice variance = Actual quantity purchased*(Actual price – standard price)
24.  DMquantity usage variance = Standard price *(Actual quantity used – standard quantity allowed)
25.  DLrate variance = Actual hours worked *(Actual rate – Standard rate)
26.  DLefficiency variance = Standard rate *(Actual hours worked – Standard hoursworked)
27.   VOH rate (spending) variance = Actual hours *(Actualrate – standard rate)
28.   VOH efficiency variance = Standard rate*(Actual hours – standard hours)
29.   FOH budget (spending) variance = Actual fixedoverhead – Budgeted fixed overhead
30.   FOH volume variance = Budgeted fixed overhead– Standard fixed overhead cost allocated to production
31.  Standardfixed overhead cost allocated to production = Actual production * standard rate
32.  Salesprice variance = Actual sold units *(Actual SP/unit – Budgeted SP/unit)
33.  Salesvolume variance = Standard contribution margin per unit* (Actual sold units – Budgeted sales units)
Chapter5
1.      RealGDP = Nominal GDP *100/GDP deflator
2.      Multiplier= 1/ (1- MPC)
3.      Changein real GDP = Multiplier * Change in spending
4.      CPI =Current cost of market basket *100/Base year cost of market basket
5.      Inflationrate = (CPI this period – CPI last period) *100/ CPI last period
6.      Nominalinterest rate = Real interest rate + Inflation rate
7.      Ep= % change in quantity demanded (Supply)/ % change in price
8.      Ce= % change in # of units of X demanded / % change in price of Y
9.      Ie= % change in # of units of X demanded (supplied)/ % change in income

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