Dissertations / Theses on the topic 'Cash flow Australia Accounting'
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Lari, Dashtbayaz Mahmoud. "Cash flow accounting and the cost of debt." Thesis, University of Sussex, 2011. http://sro.sussex.ac.uk/id/eprint/7028/.
Full textSaher, S. (Sonia). "Accrual anomaly:balance sheet vs. cash flow statement measurement of accruals." Master's thesis, University of Oulu, 2017. http://urn.fi/URN:NBN:fi:oulu-201705101745.
Full textHinkel, Timothy. "The Effect of Cash Flow Forecasts on Cost of Debt." Diss., The University of Arizona, 2013. http://hdl.handle.net/10150/293406.
Full textOvsyuk, Nina Vasylivna, and Yulia Igorivna Burdeina. "Features of cash accounting at the enterprise." Thesis, Національний авіаційний університет, 2021. https://er.nau.edu.ua/handle/NAU/53924.
Full textThe article considers topical issues of cash accounting at the enterprise. Theoretical bases of the organization of the account of money resources in cash desk and non-cash settlements at the enterprise are briefly resulted. The most widespread problems of the organization of the account and movement of money resources in the conditions of managing are investigated and defined. Ways to improve the accounting of cash at the enterprise are suggested.
У статті розглянуто актуальні питання з обліку грошових коштів на підприємстві. Стисло наведено теоретичні основи організації обліку грошових коштів у касі та безготівкових розрахунків на підприємстві.. Досліджено та визначено найпоширеніші проблеми організації обліку та руху грошових коштів в умовах господарювання. Запропоновано шляхи покращення ведення обліку грошових коштів на підприємстві.
Jooste, Leonie. "An evaluation of the usefulness of the cash flow statement within South African companies by means of cash flow ratios." Thesis, Pretoria : [s.n.], 2004. http://upetd.up.ac.za/thesis/available/etd-04182005-092836.
Full textTrehaeven, Jake. "The relative value relevance of cash flow accounting disclosures by South African Banks." Master's thesis, University of Cape Town, 2016. http://hdl.handle.net/11427/22954.
Full textGreen, Joseph Peter. "The valuation relevance of the accruals process and the disclosure of cash flow numbers." Thesis, University of Ulster, 1996. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.338764.
Full textReither, Cheri L. (Cheri Lynn). "A Process Analysis of Lenders' Use of FAS 95 Cash Flow Information." Thesis, University of North Texas, 1994. https://digital.library.unt.edu/ark:/67531/metadc279390/.
Full textMignot, Helen R. "Users and accounting information preferences of government department financial reports." Thesis, Edith Cowan University, Research Online, Perth, Western Australia, 1996. https://ro.ecu.edu.au/theses/936.
Full textMatook, Mohamed. "The significance of information contained in the cash flow statement of Libyan investment companies." Thesis, Liverpool John Moores University, 2009. http://researchonline.ljmu.ac.uk/5937/.
Full textHuang, Xiaochuan Pereira Raynolde Khurana Inder K. "Disclosure and dividend policy." Diss., Columbia, Mo. : University of Missouri--Columbia, 2009. http://hdl.handle.net/10355/6779.
Full textPark, Duri. "Accrual and Cash Flow Comparability: Evidence from Stock Analysts and Credit Rating Agencies." The Ohio State University, 2013. http://rave.ohiolink.edu/etdc/view?acc_num=osu1385895448.
Full textOsinowo, Olamide. "The impact of online accounting software as a credit management tool on small business cash flow." Thesis, Cardiff Metropolitan University, 2018. http://hdl.handle.net/10369/10060.
Full textMortensen, Tony Paul. "The Concept of Cash: An Empirical Study of Connotative Meaning in Accounting." Thesis, University of Canterbury. Accountancy, Finance and Information Systems, 2008. http://hdl.handle.net/10092/1940.
Full textKhansalar, Ehsan. "The consistent estimation of future cash flow and future earnings : a predictive model with accounting double entry constraint." Thesis, University of Sussex, 2011. http://sro.sussex.ac.uk/id/eprint/7402/.
Full textHua, Meiying. "Media Coverage of Negative Environmental, Social and Governance Issues, and Analyst Cash Flow Forecasts." Kent State University / OhioLINK, 2020. http://rave.ohiolink.edu/etdc/view?acc_num=kent1576678957366195.
Full textGregory, James Russell. "Intangible Capital: Culture of Innovation and its Impact on the Cash Flow Multiple." Scholar Commons, 2018. https://scholarcommons.usf.edu/etd/7513.
Full textYeoh, Daniel Ghee Chong, and danielyeoh@cimb com my. "An Empirical Examination of Physical Asset Expenditure Announcements in Australia: Growth Opportunities, Free Cash Flow and Capital Market Monitoring." The Australian National University. Commerce, 2001. http://thesis.anu.edu.au./public/adt-ANU20010702.160428.
Full textSouza, Manuela Santin de. "Fluxo de caixa por regime de competência." Universidade de São Paulo, 2006. http://www.teses.usp.br/teses/disponiveis/12/12136/tde-29112006-165812/.
Full textThe Cash Flow Statement (CFS) is a financial statement prepared under the cash basis accounting. This characteristic grows difficult its comparison with other financial statements that are prepared under de accrual basis accounting. In this study, it was developed a new model, according the studies done by Dechow and Dichev (2002) in the United States of America: the Cash Flow Statement under the accrual basis accounting. This new financial statement has the role of link the traditional CFS and the other statements, mainly the Income Statement. The theory of this study is based in the concepts of cash and accrual basis accounting, in the discussion of the principal aspects of the CFS and Income Statement and the reference of the empiric researches realized about this subject. Following, a model was developed taking account of the cash flows divided into the accrual period and an example was built. For the empiric test, we selected, through the Economatica data base, Brazilian companies to the period of 1995 until 2005. The multiple regression analysis with panel data has been utilized as a statistic instrument. As a result of this study, the statistics tests sustained the hypothesis developed in the initial part of the study, concluding that the operational cash flow under the accrual basis accounting provide precise information about the accruals and supply a better comparison with the other financial statements when faced to the cash flow under the cash basis accounting.
Madisa, Keamogetswe Juliet. "An introductory study to determine patterns in cash flow ratios of listed industrial companies on the Johannesburg Stock Exchange." Thesis, Stellenbosch : Stellenbosch University, 1998. http://hdl.handle.net/10019.1/55813.
Full textENGLISH ABSTRACT: In many ways, the cash flow statement can be more informative than the other financial statements. It is relatively freer from subjective accounting and reveals managerial choices, such as investment and financing decisions, which are less apparent from the balance sheet or income statement. One of the components of the cash flow statement, cash flow from operations, is the primary focus and the primary variable of interest in this study. The study set out to create a database for the University of Stellenbosch Business School by using cash flow ratios of listed industrial companies on the Johannesburg Stock Exchange for the period 1974 to 1997. This is an initial attempt to have such a facility in place to assist future researchers in establishing patterns present in the ratios. Descriptive statistics were calculated for all the ratios. Twenty-two ratios were calculated in three ways: (a) Ratios were pooled over time and over sector; (b) Ratios were pooled over time for each of the 17 sectors; and (c) Ratios were pooled over sectors for each of the years 1974 to 1997. In addition, chi-square and Kolmogorov-Smirnov tests for normality were conducted. To get insight into the potential patterns, some of the statistical properties of cash flow ratios have been examined with particular reference to two ratios, (ratio 14 and ratio 20). These were chosen since they are considered to be the most important ratios in the study.
AFRIKAANSE OPSOMMING: Die kontantvloeistaat kan op baie maniere meer inligting as die ander finansieIe state verskaf. Dit word relatief gesproke minder deur subjektiewe rekerungkunde beYnvloed en dit 1aat die klem val op bestuursbesluite, S005 investerings- en finansieringsbesluite. Laasgenoemdes is minder duidelik waameembaar as daar na die balansstaat en inkomstestaat gekyk word. Kontant uit bedryfsaktiwiteite. een van die komponente van die kontantvloeistaat, is die primere fokus en die belangrikste item in hierdie studie. Die doel van die studie is om 'n datahasis vir die Bestuurskool van die Universiteit van Stellenbosch daar te stel, deur gebruik te maak van kontantvloeiverhoudings van aile genoteerde industriele maatskappye op die Johannesburg Effektebeurs vir die periode 1974 tot 1997. Dit was 'n eerste poging om so 'n fasiliteit daar te stel ten einde toekomstige navorsers in staat te stel om patrone aanwesig in die verhoudings waar te neem. Beskrywende statistiek is bereken Vlf al die verhoudings. Twee en twintig verhoudings is bereken op drie maniere: (a) Verhoudings gepoel oor tyd en oor sektore heen; (b) Verhoudings verpoel oor jare vir elk van die 17 sektore; en (c) Verhoudings verpoel oor sektore heen, per jaar vanaf 1974 tot 1997. Verder is die chi-kwadraat en die Kolmogorov-Smirnoftoetse vir normaliteit gedoen. Twee van die verhoudings. verhoudings 14 en 20, is uitgesonder as die belangrikste verhoudings in die studie. Ten einde insig in die potensieie patrone van die kontantvloeiverhoudings te verkry, is die statistiese eienskappe van hierdie twee verhoudings verder ondersoek.
Lynds, Scott. "Destination Based Cash Flow Taxation: A Critical Look at Proposed Corporate Tax Reform and its Impact on the States." Scholarship @ Claremont, 2017. http://scholarship.claremont.edu/cmc_theses/1689.
Full textSteyn, Barbara Wilhelmina. "Die indeks-verskil tussen die netto wins na belasting en kontantvloei uit bedryfsaktiwiteite as aanduiding van finansiele probleme by genoteerde industriele maatskappye." Thesis, Stellenbosch : Stellenbosch University, 2001. http://hdl.handle.net/10019.1/52204.
Full textENGLISH ABSTRACT: Both the income statement and the cash flow statement of a company provide useful information to the user of financial statements. The net profit after tax in the income statement and the cash from operating activities in the cash flow statement have basically the same transactions as source, however they still differ, because of timing differences between the accrual of income and expenses and the cash receipts or payments thereof, as well as the inclusion of items in the net profit after tax that rather forms part of cash flow from investment activities. A growth in turnover usually coincides with an increase in non-cash working capital. When the company is expanding at too high a rate, too much of his cash resources are taken up by the increase in non-cash working capital and that could lead to cash flow problems. This trend can be plotted on a graph, with a growing net profit after tax and a decline in the cash flow from operating activities. The two lines move away from each other when there is a significant difference between the net profit after tax and the cash flow from operating activities. This study tries to measure the angle between the two lines where they reach the danger zone. Users of financial statements will be able to use this as an indicator of companies that are going to be in cash flow trouble over the next period. In order to measure this angle when the company reaches the danger zone, 365 listed industrial companies were studied. The net profit after tax and the cash flow from operating activities were both transformed into an index, with cash flow relative to net profit. The difference between the index strings was calculated. This study only focuses on companies with an index-difference where the cash flow from operating activities is smaller than the net profit after tax. An index-difference of -2 was identified as the possible danger zone. In order to substantiate this figure, companies with an index-difference of -2 or larger negative that still were listed at the time of the study were examined to find the reason for the difference. Items that do not form part of the cash flow from operating activities cannot be used in the calculation of the index-difference, because it will generate a permanent difference between the net profit after tax and the cash from operating activities. Companies that have a huge negative index-difference only because of such items are not in the danger zone. 33 companies with an index-difference of -2 or more negative were identified. Focus was placed on the thirteen companies that did not have losses and that were still listed at the time of the study. Six of these companies were removed from the danger list after the individual examination, because of other reasons for the difference rather than an increase in non-cash working capital. That leaves seven companies that are shown by this study to be in danger to get into serious cash flow trouble in the foreseeable future. A few additional companies were examined which led to another six companies being placed on the danger list. Only time will tell whether these companies do get into serious financial difficulty. If so, the index-difference can be calculated as an indicator of the point when a company, regardless of a strong growth in turnover, and sometimes because thereof, does not generate enough cash from operating activities to finance the growth in non-cash working capital. Unless the company has a holding company that is willing to pour more cash into the company, or unless the company can do a successful rights issue, it will find itself in the position where it cannot finance the expansion and also cannot obtain more additional funding.
AFRIKAANSE OPSOMMING: Beide die inkomstestaat en kontantvloeistaat van 'n maatskappy verskaf nuttige inligting aan gebruikers van finansiële state. Die netto wins na belasting uit die inkomstestaat en die kontantvloei uit bedryfsaktiwiteite uit die kontantvloeistaat het basies dieselfde transaksies as bron, maar verskil tog, hoofsaaklik vanweë tydverskil in die erkenning van die toevalling van inkomste en uitgawes en die kontantontvangstes en -betalings daarvan, asook vanweë die insluiting van items in die netto wins na belasting wat eerder deel vorm van die kontantvloei uit investeringsaktiwiteite. Wanneer die maatskappy 'n groei in omset toon, gaan dit gewoonlik gepaard met 'n toename in nie-kontant bedryfskapitaal. Wanneer die maatskappy te vinnig groei, word te veel van sy kontantbronne vasgevang in die verhoogde nie-kontant bedryfskapitaal en dit kan lei tot kontantvloeiprobleme. Hierdie tendens kan op 'n grafiek uitgebeeld word met 'n stygende netto wins na belasting, terwyl die kontantvloei uit bedryfsaktiwiteite daal. Wanneer daar 'n aansienlike verskil tussen die netto wins na belasting en die kontantvloei uit bedryfsaktiwiteite is, beweeg die twee lyne uit mekaar. Dié studie poog om die grootte van die hoek tussen die twee lyne wanneer die gevaarsone bereik word, te bepaal. Dit kan dan deur gebruikers van die finansiële state as 'n aanduiding gebruik word om te voorspel watter maatskappye oor die volgende tydperk kontantvloeiprobleme sal hê. Ten einde die grootte van die hoek te meet waar die maatskappy die gevaarsone binne beweeg is 365 genoteerde industriële maatskappye se data bestudeer. Die netto wins na belasting en die kontantvloei uit bedryfsaktiwiteite is beide as 'n indeks uitgedruk, laasgenoemde relatief tot eersgenoemde. Die verskil tussen die twee indeks-reekse is bereken, naamlik die indeks-verskil. Die studie is slegs gefokus op maatskappye met 'n indeks-verskil waar die kontantvloei uit bedryfsaktiwitete kleiner is as die netto wins na belasting. 'n Indeks-verskil van -2 is geïdentifiseer as die moontlike gevaarsone. Ten einde hierdie syfer te steun is die maatskappye wat ten tye van die navorsing steeds genoteer is en 'n indeks-verskil van -2 of groter negatief het, individueel ondersoek om die rede vir die indeks-verskil vas te stel. Items wat op 'n ander plek in die kontantvloeistaat as in die bedryfsaktiwiteite hanteer word, kan nie in ag geneem word in die berekening van die indeks-verskil nie, aangesien dit 'n permanente afwyking tussen die netto wins na belasting en kontant uit bedryfsaktiwiteite sal veroorsaak. Maatskappye wat dus bloot as gevolg van sodanige items 'n groot negatiewe indeks-verskil het, val nie in die gevaarsone nie. 33 maatskappye is geïdentifiseer met 'n indeks-verskilvan -2 of groter negatief. Daar is gefokus op die dertien maatskappye wat nie verliese gely het nie en steeds ten tye van die afhandeling van die studie genoteer was. Ses van hierdie maatskappye is tydens die individuele ondersoek van die gevaarlys gehaal aangesien daar ander redes vir die groot indeks-verskil was as 'n toename in nie-kontant bedryfskapitaal. Dit laat dan sewe maatskappye wat deur dié studie aangedui word as om moontlik finansiële probleme op te tel binne die afsienbare toekoms. 'n Paar addisionele maatskappye is ondersoek, waarna 'n verdere ses op die gevaarlys geplaas is. Slegs die tyd sal leer of die betrokke maatskappye wel in 'n finansiële verknorsing beland. Indien wel, kan hierdie indeks-verskil bereken word en as 'n aanduiding gebruik word van die punt wanneer 'n maatskappy, in baie gevalle ten spyte van goeie groei in omset, maar dan ook juis as gevolg daarvan, nie genoeg kontant uit bedryfsaktiwiteite genereer om die groei in nie-kontant bedryfskapitaal te finansier nie. Tensy die maatskappy 'n houermaatskappy het wat bereid is om nog kontant te stort in die maatskappy, of tensy die maatskappy 'n suksesvolle regte-uitgifte kan maak, vind hy homself in die posisie dat hy nie die uitbreiding kan finansier nie en dat hy ook nie meer addisionele finansiering kan bekom nie.
Groenewald, Jakobus Johannes. "Ontleding van die intertemporale en kruissektorale verdelingseienskappe van kontantvloeiverhoudings vir nywerheidsmaatskappye : resultate van die Johannesburgse Effektebeurs (1975-1993)." Thesis, Stellenbosch : Stellenbosch University, 1995. http://hdl.handle.net/10019.1/54818.
Full textENGLISH ABSTRACT: Traditional financial ratios are used by different analysts to predict and evaluate various elements of a company. However, such ratios all suffer from the basic limitation of accrual-based accounting, hence the perception that cash flow ratios may be more suitable and possibly even more appropriate to evaluate companies. Most of these applications employ parametric statistical procedures of which the validity partly depends on the underlying distributional properties of the ratio involved. This study project is an evaluation of the underlying distributional properties of forty seven cash flow ratios based on the published annual results of 350 industrial companies, listed on the Johannesburg Stock Exchange for the period 1975 to 1993. As an initial test, the results of the ratios were subject to the null-hypothesis of normality as reflected by the p-values of the chi - square and Kolmogorov-Smirnov tests respectively . Secondly, the study project attempted to give an indication of the underlying distributional properties by comparing the average with the median of the various cash flow ratios. The first evaluation was done for each ratio. after the data was aggregated, for both the various divisions and over all the financial periods to evaluate what is referred to as the sector as a whole. The results of this evaluation clearly indicate that the underlying distributional properties are definitely not normally distributed. However, the lack of normality may be founded in either the lack of homogeneity between the various divisions. or due to the aggregation of the various financial periods . A second evaluation was done on the individual ratios for each financial period. Although the different years lead to slightly different results it is still apparent that the null-hypothesis of normality for the majority of ratios are being rejected, especially consistent results to this effect were found for the period 1988 to 1993. A third and final evaluation was done on all the different ratios for the individual divisions. Again the results for the different divisions vary, but once again it ;s apparent that the null-hypothesis of normality is being rejected for the vast majority of the ratios . In this regard the results of specifically divisions industrial holding (15), food (25), engineering (28) and electronics (29) are particularly consistent. The lack of normality in the sector analysis may indicate the presence of specific division relevant characteristics, while the results of the intertemporal evaluation indicate that the distributional properties approximate normality by aggregation over time . The analysis also proves beyond any doubt that irrespective of whether disaggregation is done over either financial periods or between the different divisions, ratios 02, 03, 06, 15, 16 and 17 are positive skewely distributed . Accordingly, ratios 13 and 27 are negative skewely distributed . If one has to advise a researcher or practitioner to whom an underlying normal distribution of a cash flow ratio is important, one would probably advise in the first instance to disaggregate over time, as a second app roach to disaggregate over divisions, but never to treat the industrial sector as a pooled sample.
AFRIKAANSE OPSOMMING: Tradisionele finansiele verhoudings word deur verskeie markontleders vir verskillende voorspellings aangewend . Aangesien die verhoudings almal onderworpe is aan die beperking van opgelope rekeningkundige waarde word kontantvloeiverhoudings voorgehou as 'n nuttiger en moontlik selfs doeltreffender metode om ondernemings te evalueer. In die meeste van die toepassings word parametriese statistiese prosedures gebruik, waarvan die geldigheid gedeeltelik berus op die onderliggende verdelingseienskappe van die verhoudings. Die werkstuk is 'n studie van die onderliggende verde' ingseienskappe van sewe-en-veertig kontantvloeiverhoudings S005 jaarliks vir die tydperke 1975 tot 1993 gepubliseer is in die finansie1e verslae van 350 maatskappye wat genoteer is in die nywerheidsektor van die Johannesburgse Effektebeurs. In die verband is die resultate van die verhoudings eerstens onderwerp aan die nulhipotese van normaliteit deur dit te evalueer aan die hand van die p-waarde van sowel die chi-kwadraat- as Kolmogorov-Smirnovtoetse. Vervolgens dui die werkstuk die onderliggende verdeling aan, deur die gemiddeld en mediaan van die kontantvloeiverhoudings te vergelyk. Vir die eerste evaluasie is alle verhoudings oar jie verskillende finansiele tydperke en van die verskillende afdelings saamgevoeg am die sektor in die geheel te eva1ueer. Vol gens die evaluasie is die onderliggende verde1ing van die verhoudings nie normaal nie. Oit mag moontlik logies verklaar word deur die heterogeniteit van die verskil1ende afde1ings, of weens die samevoeging van die resultate oar verskillende finansiele tydperke. Tweedens is die onderskeie finans;ele tydperke afsonder1ik ont1eed . A1 het die resultate van die onderskeie termyne effens verskil, is dit duidelik dat die nulhipotese van normaliteit by die oorgrotte meerderheid van verhoud ings beslis verwerp moet word. Dit is interessant dat in die resu1tate van spesifiek 1988 tot 1993 die hipotese absoluut konsekwent verwerp word. laastens is die verhoudings afsonderlik vir elk van die onderskeie afdelings ontleed. Weereens het die resultate van die onderskeie afdelings verskil, maar dit was oak weer duidelik dat die oor9rote meerderheid van verhoudings die nulhipotese van normaliteit verwerp . In die verband was veral die resultate van die afdelings nywerheids beherend (15), voedsel (25). ingenieurswese (28) en elektronika (29) merkwaardig konsekwent. Die gebrek aan normaliteit tussen die verskillende afdelings mag maontlik aantoon dat sekere eienskappe, eie aan die afdeling, die verdelingseienskappe beinvloed . Die resultate van die intertemporale studie toon beslis dat normaliteit benaderd word indien verhoudings oar tyd saamgevaeg word. Wat die ontleding ook bo alle twyfel bewys is dat die verhoudings 02, 03, 06, 15, 16 en 17 vir die sektor as 'n geheel, die intertemporale- en die kruissektorale-ontledings konsekwent onderliggend positief skeef verdee1 is. Verhoudings 13 en 27 is egter onderliggend negatief skeef verdeel. Aanbevelings rakende die onderliggende verdeling van kontantvloeiverhoudings is beslis om eerstens verskillende finansiele tydperke te onderskei en tweedens die verskillende afdelings. maar beslis om nie die nywerheidsektor as 'n geheel te evalueer nie.
Hauman, Louis. "'n Konsepsuele evaluasie van kontantvloeistate." Thesis, Stellenbosch : Stellenbosch University, 2000. http://hdl.handle.net/10019.1/51845.
Full textENGLISH ABSTRACT: The important changes in real interest rates, deregulation, amalgamation and the change of enterprise form from co-operatives to companies, require a new approach towards the utilisation and management of capital in the agricultural business. The economic environment has changed from a situation where management used nearly uncontrolled amounts of capital to get turnover, towards a capital scarce situation where capital is applied with caution and where profits are required. This new approach calls for focus on working capital. This study proposes a conceptual approach to the evaluation of the management of cash. The concept of a STREAM / WELL of cash, as used by Hamman (1999) at the Business School of the University of Stellenbosch, is described. The cash flow statements of some co-operatives have been standardised to produce comparable figures for income from operating -, investment- and financing activities. The STREAM / WELL approach with a graphic presentation of income from operating -, investment - and financing activities are used to demonstrate the usefulness thereof. The conclusion is made that profit margins are too low in this kind of business because of a lower than needed mark-up. The working capital cycle is too long in most of the businesses, which indicates that too much working capital is used to generate the income. Lastly, the growth in turnover is as a determinant factor for working capital, too unpredictable and uncontrolled because of inherent qualities of this business environment. The risk in this market, because of climate and uncontrollable factors, is not calculated but indications are that this risk is high.
AFRIKAANSE OPSOMMING: Die ingrypende verandering van reële rentekoerse, deregulering, amalgamasies en omskakeling van koöperasies na maatskappye, verg nuwe benaderings tot die bestuur en aanwending van kapitaal in die landbou. Vanuit 'n omgewing waar omsette nagejaag is met feitlik onbeperkte toegang tot fondse, het die landbouondernemings se benadering verander na ondernemings met beperkte kapitaal wat oordeelkundig aangewend moet word en bevredigende opbrengste moet lewer. Hierdie tendens noodsaak 'n gefokusde benadering tot die bestuur van bedryfskapitaal. Die studie stel 'n konsepsuele benadering voor om ondernemings se bestuur van kontant, soos gerapporteer in kontantvloeistate, te evalueer. Die konsep van 'n STROOM / PUT benadering, soos jare lank deur Hamman (1999) gebruik om die begrippe te verduidelik aan die Bestuurskool van die Universiteit van Stellenbosch, word omskryf. Die kontantvloeistate van 'n aantal landbouondernemings is gestandaardiseer om vergelykende opbrengste uit bedryfs-, investerings- en finansieringsaktiwiteite te bereken. Die STROOM / PUT benadering word saam met 'n grafiese voorstelling van die bydraes uit bedryfs-, investerings- en finansieringsaktiwiteite gebruik om die aanwending daarvan te demonstreer. Daar word tot die slotsom gekom dat winsgewendheid te laag is in ondernemings van dié aard hoofsaaklik omdat winsgrense te laag is. Oor die algemeen is die bedryfskapitaalsiklus te lank, wat daarop dui dat te veel bedryfskapitaal aangewend word om die opbrengs te genereer. Laastens is die groei in omset, as bepaler van die vraag na bedryfskapitaal, ongekontroleerd en wisselvallig as gevolg van die inherente eienskappe van die landbou sakeomgewing. Die risiko opgesluit in dié markomgewing wat grootliks deur klimaat en ander onbeheerbare faktore beïnvloed word, word nie bereken nie, maar die studie dui op besondere hoë risiko's van dié aard.
Prudencio, Cristiano. "O processo de gestão e controle dos fluxos de caixa em um banco brasileiro: uma análise à luz da abordagem do ciclo de vida organizacional." Universidade de São Paulo, 2012. http://www.teses.usp.br/teses/disponiveis/12/12136/tde-17122012-150745/.
Full textThis work aims to expand the knowledge about the activity of cash flow management and control in the banking sector, which is not much explored in research and literature, thus contributing to a better understanding of this activity, since for any company to optimize cash flows management is important, and this task is even more critical to a bank, because the right resource allocation may contribute to optimize their results. For this purpose, a case study in a Brazilian bank was conducted in which was collected the perceptions of many employees and managers from different areas, finance, risk management and treasury, about the characteristics of cash flows management and control process and about the institution as a whole, by checking the relationship of these to the stage in the organizational life cycle in which institution is located. In a first step, sought to analyze the perceptions arising from the application of the questionnaire, these being the representations of the vision of the teams directly related to the process control and management of cash flow. This step aims to understand the relationship between the corporate variables and contextual variables, in relation to cash flow management and control process, by addressing organizational life cycle, capturing relevant aspects, and the convergence or divergence of perceptions between the teams. These findings were contrasted with collection of perceptions materialized through interviews with general managers in order to triangulate the perceptions and build the predominant features of cash flow management and control process and organizational life cycle of this institution, furthermore to identify if the relationship between it were convergent or divergent. Additionally were sought to understand either the existence or lack of relationship between budgeting and this process. This way, the work contributed to the development of a theoretical framework for analyzing the problem, based on several passages of sparse studies; to validate the possibility of use in a financial institution\'s business model framework stages of the organizational life cycle; and mainly to demonstrate the existence of a relationship between cash flow management and control process and its stage in the organizational life cycle, raising several propositions, serving as a starting point for future research.
Neto, Beatriz Prior. "O impacto da adoção do regime de contabilidade de caixa em sede de IVA na tesouraria : estudo de caso de uma empresa de comércio por retalho de equipamentos e estruturas agrícolas." Master's thesis, Instituto Superior de Economia e Gestão, 2019. http://hdl.handle.net/10400.5/19118.
Full textA literatura internacional permite evidenciar que os custos de cumprimento das obrigações fiscais são desproporcionalmente mais elevados para as PME, comparativamente com as grandes empresas, e representam um impacto negativo na sua tesouraria. Como a gestão da tesouraria destas empresas é fundamental para o seu bom funcionamento, o controlo dos custos de cumprimento torna-se um fator importante para garantir a sua sustentabilidade. Tendo em conta a elevada representatividade das PME na economia do país e a relevância que os custos de cumprimento das obrigações fiscais têm na rendibilidade das mesmas, urge analisar as atuais medidas de apoio a estas empresas. Em 2013, foi promovido um regime alternativo de Imposto sobre o Valor Acrescentado (IVA) como forma de combate às desvantagens derivadas da entrega de este imposto ao Estado, denominado por Regime de Contabilidade de Caixa em sede de IVA (RCCI). Sendo a literatura escassa nesta matéria, o presente estudo tem como objetivo fazer uma análise crítica do RCCI e verificar o impacto que este teria na tesouraria de uma média empresa, caso esta pudesse aderir a este regime. Os resultados evidenciam que a adoção do RCCI não proporcionou as melhorias de tesouraria esperadas, comparativamente ao Regime Geral de exigibilidade do IVA. Foram ainda propostas alterações ao RCCI que, ao contrário do esperado, não proporcionaram melhorias na tesouraria da empresa em estudo.
The international literature indicates that the costs of complying with fiscal obligations are disproportionately higher for small and medium-sized enterprises (SME's), when compared to larger companies, and have a negative impact in their cash-flows. Since cash management is key to a company's liquidity, controlling compliance costs becomes an important factor to assure its financial sustainability. Various studies demonstrate that current tax systems impose a heavy burden on taxpayers, especially on SME's. Therefore, considering the high representativeness of SME's in the Portuguese economy and the importance of the costs of complying with fiscal obligations to their profitability, it is critical to analyze the current policies that deal with this issue. In 2013, an alternative value-added tax (VAT) system was implemented in response to the disadvantages caused by the payment of this tax, called the VAT Cash-Accounting Scheme (VCAS). Since the literature on this topic is scarce, the present study aims to do a critical analysis of the VCAS and assess to what extent the adoption of this regime would have a positive impact on the cash-flows of a medium-sized company. The results of this study show that, comparatively to the adoption of the general VAT system, adopting the VCAS does not contribute to generate the expected cash-flow improvements. This study also addresses possible amendments to the VCAS that, against the expectations, do not provide improvements to the company's cash-flows.
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Přibáňová, Aneta. "Srovnání metodiky při sestavování výkazu cash flow podle české legislativy, IFRS a US GAAP." Master's thesis, Vysoká škola ekonomická v Praze, 2015. http://www.nusl.cz/ntk/nusl-263864.
Full textMashalaba, T. L. "Cash flows analysis with reference to direct and indirect method and value - added reporting of industrial commpanies listed on the Johannesburg Stock Exchange." Thesis, Stellenbosch : Stellenbosch University, 2000. http://hdl.handle.net/10019.1/51644.
Full textThe investing public seeks to have knowledge on the future and anticipated enterprise performance. The starting point for gathering such information is presented in the enterprise financial statements. Secondary data presented by the Business School of the University of Stellenbosch was used. The study focused on finding out the magnitude of reporting cash flows from operating activities using the indirect or direct methods. The study also checked the frequency of reporting value - added statements, and took a forecast view on what the reporting nature is expected to look like in the next financial year-end. The database used in the study included 655 listed and delisted industrial companies in the Johannesburg Stock Exchangeover the ten-year period starting from January 1990 through to December 1999. It is noted that the South African Institute of Chartered Accountants, as stated in Statement AC 118, encourages enterprises to report cash flows from operating activities using the direct method. This is because the direct method provides information which may be useful in estimating future cash flows and which is not available under the indirect method. The study noted the rate at which newly listed enterprises report their initial cash flow statements, and the rate at which enterprises listed before 1996 are changing from reporting using the indirect method to the direct method. The results showed that at present South African enterprises are reporting cash flows from operating activities at a higher rate that in other notable Western Countries subscribing to the doctrines of the International Accounting Standards Committee (IASC). The number of enterprises presenting value - added statements has shown an increase, though reporting value - added statements is not yet statutory. For the forecasting exercise part of the study, Brown's linear double exponential smoothing technique was applied.
Coetzee, D. B. (Dirk Badenhorst). "Die ontleding van 39 maatskappye se kontantvloei situasie oor tyd met behulp van kontantvloeistate." Thesis, Stellenbosch : Stellenbosch University, 1997. http://hdl.handle.net/10019.1/55491.
Full textENGLISH ABSTRACT: In this study it is attempted to determine whether delisting of companies on the Johannesburg Stock Exchange is preceded by certain cash flow patterns. Information was collected by summarising the Source and Application of Funds statements and Cash Flow statements of companies into a spreadsheet model. The cash flows of companies were then presented graphically over time with the intent to derive possible patterns. It was also attempted to assess the impact of depreciation on the cash flow situation, as well as the possible reasons for share Issues. Although the sample may be too small for definite conclusions, it seems as if certain cash flow patterns preceded delisting and that share issues are related to investing activities. Depreciation does not seem to have a substantial effect on the cash flow situation.
AFRIKAANSE OPSOMMING: In hierdie studie word daar gepoog om vas te steI of denotering van maatskappye op die Johannesburgse Effektebeurs voorafgegaan word deur sekere kontantvloei patrone. Inligting is versarneI deur maatskappye se Bron en Aanwending van Fondse state en Kontantvloeistate in 'n sigbladmodeI saarn te vat. Die kontantvloeie van maatskappye is dan grafies voorgesteI oor tyd ten einde moontlike patrone af te lei. Daar is ook gepoog om die impak van waardevermindering op die kontantvloei situasie te bepaaI, asook die moontlike redes vir aandeeluitgifte. AlhoeweI die monster moontlik te klein is vir definitiewe afleidings wil dit tog voorkom of sekere kontantvloei patrone denotering voorafgaan en dat aandeeluitgifte verband hou met investeringsaktiwiteite. Dit blyk dat waardevermindering nie 'n wesenlike rol in die kontantvloei situasie speel nie.
Хомазюк, Анна Ярославівна. "Організаційні та методичні засади обліку, аналізу і аудиту грошових коштів на підприємстві ТОВ "Авалон"." Магістерська робота, Київський національний університет технологій та дизайну, 2021. https://er.knutd.edu.ua/handle/123456789/19396.
Full textДипломная магистерская работа посвящена вопросам организации и методических основ учета, анализа и аудита денежных средств. В работе проанализированы такие термины как оборот, аудит, организационная деятельность, денежный поток. Доказано, что совокупность теоретических и практических принципов и методик ведения учета, анализа и аудита денежных средств оказывают большое влияние на деятельность предприятия, в нашем случае ООО "Авалон". Было исследовано, что для обеспечения устойчивого развития деятельности предприятия необходимо использовать такие методы исследований, как дедукция и индукция, анализ и аналогия. Проведенный анализ учета и аудита ООО "Авалон" показал, что создание новых методик, их исследование и внедрение положительно влияет на деятельность данного предприятия и работоспособность работающих.
The master's thesis is devoted to the organization and methodological principles of accounting, analysis and audit of funds. The paper analyzes such terms as turnover, audit, organizational activities, cash flow. It is proved that the set of theoretical and practical principles and methods of accounting, analysis and audit of funds have a great influence on the activities of the enterprise in our case, LLC "Avalon". It was investigated that to ensure the sustainable development of the enterprise it is necessary to use such research methods as deduction and induction, analysis and analogy. The analysis of accounting and auditing of Avalon LLC showed that the creation of new methods, their research and implementation will have a positive impact on the activities of the enterprise and the efficiency of employees.
Ongaľová, Dominika. "Manipulace s vykazováním zisku." Master's thesis, Vysoká škola ekonomická v Praze, 2014. http://www.nusl.cz/ntk/nusl-193073.
Full textBjurmark, Sofie, and Frida Oxbern. "Kassagenerering hos företag inom vårdsektorn på Stockholmsbörsen : En studie om indikationer på felaktig intäktsredovisning." Thesis, Södertörns högskola, Företagsekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-33051.
Full textBackground and problems: It is important that companies apply correct revenue recognition by following the basic rules and principles by Generally Accepted Accounting Principles. The healthcare sector is alleged by regarding indications of inadequate revenue recognition and taxationamong which the Swedish Tax Agency has examined companies in the healthcare industry. Purpose: The purpose of the study is to investigate whether there are indications of incorrect revenue recognition in the healthcare sector. Demarcation: The study is limited to studying all 42 listed companies in the healthcare sector of Nasdaq OMX STO between 2008 and 2015. Theory and previous research: This study is based on Bengtsson's research. Furthermore, revenue recognition is associated with accrued accounting. Subsequentlyresearch and development are taken into consideration as well as their expenses. Further theories that is treated are cash flow analysis that is linked to cash generation. This section also considering earnings management focusing on Big Bath. Method: It is aquantitativestudyand calculations are carried out on the basis of several annual reports for an eight-year period, longitudinal design. The study is designed in a deductive way where the outset is theories and previous research. The disappearance of the study includes eleven companies. Empirical and analysis: Empirical is presented in common with analysis, where there also is a short presentation of each company. The analysis main focus is on the 2015 yearsquota. Conclusion: Of the study's 31 surveyed companies in the healthcare sector on the Stockholm Stock Exchange, 18 companies follows Bengtsson's theory that the quota should be improved and approachthe quota value1 over a longer period. The remaining13 companies does not follow Bengtsson's theory, which indicatesincorrect and subjective revenue recognition and accordingly needs a further inspection. Proposals for further research: Proposals for further research are to study companies throughout their lifetime to investigate how the quota relates to 1 as well as underlying causes, alternatively study another sector where there are indications of incorrect revenue recognition.
Cunha, Moisés Ferreira da. "Avaliação de empresas no Brasil pelo fluxo de caixa descontado: evidências empíricas sob o ponto de vista do desempenho econômico-financeiro." Universidade de São Paulo, 2011. http://www.teses.usp.br/teses/disponiveis/12/12136/tde-08022012-181605/.
Full textModels of company evaluation aim at establishing a fair value for the firm. Students and professionals from the market develop important economic assessment models and measures of economic-financial performance to identify indicators of direction of value. Among the models, a Discounted Cash Flow (DCF) can be found, which, in short, establishes the value of the company by the current value of its future economic expected benefits. The main motivating issue of the survey is to investigate and evaluate whether the projections of economic-financial performance done by Brazilian companies in assessment reports, are, on average, cohesive throughout time. The lack of cohesion leads to the inference that the assumptions in the models (nearly always coming from the North American market) do not often occur in Brazil. It is also expected that the aim of the evaluation does not cause a bias in these projections. The Modern Finance Theory was used as the theoretical platform and, as an initial aim, the work of Modigliani and Miller (1958; 1961 and 1963), as well as showing the main discussions about the application of this theory in emergent countries. In relation to the empiric, a collection of 15 variables was established, which makes the financial strategies developed by the companies evident in the creation of value. From this, the projections of these variables were collected from the company evaluation reports with the objective of a Public Offer of Acquisition of Shares (POAS) in the period between 2002 and 2009. They were then compared to those realized (obtained from the Economatic database and the database of Biggest and Best) by the companies, throughout two periods after the process of evaluation. For the realization of the tests on the hypotheses established, tests of measures, in paired samples were performed with the application of the t-Student parametric test, when there was an existence of distribution normality of the data, or the non-parametric Wilcoxon Signed Rank Test, when the premise of normal distribution was not satisfied. The results show that the projection averages in relation to what was performed are cohesive statistically for the variables: evolution of net income (ENI); evolution of net profit (ENP); indebtedness (Indbt); investment rate (InvT); return on investment (ROI), and weighted average cost of capital (WACC). On the other hand, the variables: operating margin (Opm); EBITDA margin (Meb); working of investment (Giro); operating cash flow return on investment (CFROI); growth rate (Ginv); cost of debt (Ki), and cost of equity (Ke), showed significant differences in the averages. The sectors of chemical products, railroads, and textiles among those analyzed were the ones that more often presented significant differences in the averages. In the comparison by periods, significant differences in the averages appeared in the variables: margins (operating and EBITDA); evolution of net profit; investment rate; cost of debt; cost of equity, and weighted average cost of capital. Finally, the aim of the voluntary assessment showed a bias of economic-financial over evaluated performance, while the evaluation reports, with the aim of canceling the registers, did not show an under evaluation of the performance. Despite the results and conclusions presented, the survey showed some limitations like: the conclusions were restricted to the sample, the difficulties found in the investigation of the data for the analysis of variables also affected the reach and scope of the empirical validation, allowing for the suggestions for new surveys, to use other methodological procedures and other variables.
Maciel, Flávia Fonte de Souza. "Escolhas contábeis na demonstração dos fluxos de caixa no contexto do mercado de capitais brasileiro." Universidade de São Paulo, 2015. http://www.teses.usp.br/teses/disponiveis/12/12136/tde-18012016-160228/.
Full textBrazilian accounting standards establish some classification options in the Statement of Cash Flows (SCF), specifically the cash flows related to interest, dividends and interest on capital paid and received. Such cash flows can be classified in the SCF in three different activities: operating (FCO), investment (FCI) or financing (FCF). This flexibility of classification, on the one hand, allows the disclosure of a more accurate information, since the presentation of SCF can be adapted to the specific circumstances of each company. On the other hand, it makes room for opportunistic behavior by allowing choice of which option to generate the most suitable information. This study aims to identify incentives related to the characteristics of non-financial companies in the Brazilian capital markets, which influenced the choices of classification of interest, dividends and interest on capital in the SCF, from 2008 to 2014. The resultant hypothesis from the objective refer to: cash flows classification according to the encouragement of the CPC 03; identification of a possible standardization of classifications in SCF among companies with similar features (same sector or audit firm); relationship between classification shift of the interest paid with the change of auditor; and, the effect on the FCO of the classification choice of interest, dividends and interest on capital in the SCF, according to financial characteristics and performance of companies. For the measurement purposes of the effect on the FCO, the paragraph 34A of CPC 03 is taken as reference, which encourages the classification of interest received or paid, dividends received and interest on capital received as FCO; as well as dividends paid and interest on capital paid as FCF. For analysis of that effect, panel data and two regressions with the following dependent variables have been adopted: 1) the difference in reais between the disclosed FCO and the amount that the FCO would be if the options encouraged by the CPC 03 had been followed; and, 2) the classification choice of interest paid (dummy). The interest paid was considered because, among alternatives, it is that which increases the FCO if the classification recommended by the CPC is not followed. With a sample of 352 companies, 2.290 reports analyzed and 3.764 data collected, the results show that: i) the most Brazilian companies follow the classifications encouraged by CPC 03, except those related to dividends/interest on capital received; ii) some sectors followed a predominant classification in all items or part of them that allow flexibility of presentation in SCF; iii) there are prevalent classifications for companies with certain audit firms; iv) classification shift of the interest paid occurred regardless of the change of auditor; and, v) there is evidence that the debt influences the disclosure of an FCO in an different amount than if the CPC classification recommendation had been followed. The achieved results provide evidence on the relationship between characteristics of Brazilian companies and the FCO released due to the choice of classification in the SCF.
Andronoudis, Dimos. "Essays on risk, stock return volatility and R&D intensity." Thesis, University of Exeter, 2015. http://hdl.handle.net/10871/21278.
Full textСілівончик, Олена Борисівна. "Організаційні та методичні засади обліку, аналізу і аудиту грошових коштів на підприємстві." Магістерська робота, Київський національний університет технологій та дизайну, 2021. https://er.knutd.edu.ua/handle/123456789/19398.
Full textВ работе исследованы экономико-правовые основы осуществления операций с денежными средствами, раскрыта проблематика существующего определения учеными сути понятия "денежные средства" и классификации денежных средств, даны рекомендации по дальнейшему усовершенствованию исследований в этом направлении. На примере предприятия – Общество с ограниченной ответственностью "Арсенал-Центр" проведено исследование системы учета, аудита и анализа денежных средств, реализуемой на предприятии, определены ее основные недостатки и даны рекомендации по их устранению.
The paper examines the economic and legal principles of cash transactions, reveals the existing definition of the essence of the concept of "cash" and the classification of funds, and provides recommendations for further improvement of research in this area. On the example of the company – Limited Liability Company "Arsenal-Center" conducted a study of accounting, auditing and analysis of cash, which is implemented at the company, identified its main shortcomings and provided recommendations for their elimination.
Жмайлова, О. Г., and Ю. П. Картава. "Проблеми обліку операцій з грошовими коштами та напрямки їх удосконалення." Thesis, Nauka i studia, 2014. http://essuir.sumdu.edu.ua/handle/123456789/59702.
Full textThese types of problems account for transactions with cash, the main of which are: incomplete and not timely reflected in the cash accounting system, tax evasion, organization of control over the process of conservation and use of cash and made suggestions to improve accounting
Кравченко, Олена Володимирівна, Елена Владимировна Кравченко, Olena Volodymyrivna Kravchenko, and К. Є. Рудова. "Проблемні аспекти обліку доходів підприємства." Thesis, Одеський Національний економічний університет, 2017. https://essuir.sumdu.edu.ua/handle/123456789/83593.
Full textCosta, Jorge Andrade. "O valor preditivo do resultado líquido contábil, dos accruals e do fluxo de caixa operacional das empresas do mercado segurador brasileiro." Universidade de São Paulo, 2015. http://www.teses.usp.br/teses/disponiveis/12/12136/tde-08062015-163820/.
Full textThe main objective of this dissertation was to verify if the accounting variables: earnings, accruals and operating cash flows (FCOs) have the capacity to predict operating cash flows of the companies of the Brazilian insurance market regulated by SUSEP. Additionally, was checked which of the 3 (three) accounting variables was most efficient in the forecast and if the accruals can help to increase the predictive ability of FCOs. 2.876 financial statements were analyzed that were released by 200 companies for the semiannual period beginning on June 30, 2005 and ended December 31, 2013. The database is original. The companies were separated by 5 (five) segments (insurers, reinsurers, capitalization companies, not for profit open private pension entities (EAPCs) and life and pension companies), according to their specificities. Descriptive analysis and panel data analysis were performed to verify relationship between the variables. It was noticed that the cash inflows and outflows from financial investments companies (redemptions and applications) are allocated in the Statements of Cash Flows (DFC) as operating activities and not as investing. Due to this fact, the statistical procedures applied at the FCOs were also applied at modified operating cash flows (MODs), which include the reclassification of movement of financial investments of operating activities for the investing activities of DFC. The purpose to also test the MOD was to verify if it is more appropriate than the currently released (FCO) and if there is any improvement in their predictive ability. The results of FCOs forecasts show that the following accounting variables have the ability to predict FCOs of the subsequent period, in each segment: (a) the 3 (three) variables in the life and pension companies and insurers; (b) the earnings and the FCO in reinsurers; (c) the earnings in capitalization companies; and (d) none of the accounting variables in EAPCs. The results show only in life and pension companies the accruals increment the predictive ability of FCO. As the most efficient predictor, the results show that the earnings was more efficient for reinsurers and the capitalization companies and accruals were more efficient in insurance and in life and pension companies. The results of MODs show, for each segment: (a) which variables have the ability to predict MOD in the subsequent period; (b) which variable was more efficient to predict MOD; and (c) if the accruals increment the predictive ability of MOD. It follows that, although different results between the segments, the accounting variables have predictive ability, confirming understanding of the FASB and IASB that the accounting information is relevant, because it can make a difference in the decisions made by users. Additionally it is the understanding of the author of this dissertation that the cash inflows and outflows from financial investments of these companies should be allocated in investing activities of DFC.
Godoy, Carlos Roberto de. "Evidenciação contábil e as avaliações pelo fluxo de caixa descontado e pela teoria de opções: um estudo aplicado à indústria petrolífera mundial." Universidade de São Paulo, 2004. http://www.teses.usp.br/teses/disponiveis/12/12136/tde-09092014-133550/.
Full textThe information disclosed by oil and gas companies is a source of great controversy. The main issue is the deficiency of the historical cost model to supply adequate information for financial statement users. The most important event for oil exploration and production companies is the discovery of oil and gas reserves, and not the profits and revenues deriving from oil and gas sales. However, the historical cost model does not manage to adequately measure and disclose the oil and gas reserves until they are actually developed, produced and sold. Another problem in the historical cost model for petroleum companies is that there is hardly any or no relation between the costs incurred to discover oil and gas reserves and the value of the proved reserves. As a result of these deficiencies in the historical cost model, and in an attempt to \"adapt\" the results, two ways of capitalizing the costs of oil and gas exploration and production activities are used and accepted, the Full Cost method and the Successful Efforts method. The evaluation of the companies\' proved oil and gas reserves as well as the investment decisions are affected by economic uncertainty, technical uncertainty and by the management flexibilities inserted in oil and gas exploration and production. The Net Present Value technique does not have the attributes to capture these flexibilities, since it does not consider the possibility of delaying the development of a reserve to a moment at which oil prices are convenient for company plans for example. This study aims to explore and apply different forms of evaluating oil reserves: a) accounting; b) future cash flow (Hotelling); c) standardized measure of discounted cash flow; d) direct margin; e) discounted cash flow; and f) real options, with a view to discovering which of these comes out as the best way to obtain the fair value of oil exploration and production companies\' main asset - their proved oil and gas reserves. In the comparison among different techniques, evaluation according to option pricing theory revealed to be the best way to evaluate the proved reserves of the analyzed companies, followed by the discounted cash flow evaluation and by Hotelling\'s evaluation model.
Almeida, Regina Santos. "Análise da demonstração do fluxo de caixa e seus indicadores em companhias representativas no espaço aéreo brasileiro." Pontifícia Universidade Católica de São Paulo, 2016. https://tede2.pucsp.br/handle/handle/19533.
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The publication of the Law 11.638/2007, replaces the statement of sources and uses of funds by the statement of cash flows (DFC). At first the research presents the concept, the objectives of financial statements with a greater emphasis on the statement of cash flow, the research object, with its components from operating activities, investing and financing, the development of methods of demonstration we discuss the cash flow and demonstrates the viability of the financial analysis based on DFC were calculated and interpreted the extracted quotients of reports published by companies available on the Anac website, Azul Airlines, Avianca Brazil, Gol Linhas Aereas and TAM Airlines, for two consecutive years of 2014 and 2013. the indexes are classified into four categories: 1st category quotients box cover, 2nd quotients category of quality of the result, 3rd quotients category Capital expenditures and 4th category returns of cash flows, whose purpose varies the evaluation of the enterprise liquidity to determine the cash return rates
A publicação da lei nº 11.638/2007 substitui a demonstração das origens e aplicações de recursos pela demonstração de fluxos de caixa (DFC). A princípio, a pesquisa apresenta o conceito e os objetivos das demonstrações contábeis com ênfase maior na demonstração de fluxo de caixa – objeto da pesquisa – e seus componentes da atividade operacional de investimento e financiamento. Aborda os métodos de elaboração da demonstração do fluxo de caixa e demonstra a viabilidade da análise financeira com base na DFC. Foram calculados e interpretados os quocientes extraídos dos relatórios publicados pelas companhias Azul Linhas Aéreas, Avianca Brasil, Gol Linhas Aéreas e TAM Linhas Aéreas, disponíveis no site da Anac, para dois anos consecutivos; 2013 e 2014. Os índices são classificados em quatro categorias: 1ª quocientes de cobertura de caixa; 2ª quocientes de qualidade do resultado; 3ª quocientes de dispêndios de capital e 4ª retornos do fluxo de caixa, cuja finalidade varia a avaliação da liquidez do empreendimento até a determinação das taxas de retorno de caixa
Salvi, Andrea. "A relação do retorno das ações com o EVA, com o lucro residual e com as medidas contábeis tradicionais: um estudo empírico aplicado às empresas brasileiras de capital aberto." Universidade de São Paulo, 2007. http://www.teses.usp.br/teses/disponiveis/96/96133/tde-10092007-105528/.
Full textThe huge propagation of the EVA® (Economic Value Added) concept allows companies to use this performance measure to prove how much value was added for the owners. These companies hope positive EVA®s increase firm values in the market. In this direction, some studies prove a strong association between EVA® and stock returns, confirming that the positive EVA® valorizes companies in the market (Felthan et al, 2004; Silveira et al, 2004). However, when analyzing mandated performance measures, such as earning and operate cash flow, there is a strong association between these measures and the stock returns, and a weak association between EVA® and stock returns (Biddle et al, 1997). At this study, Biddle et al study was applied to all of no-financial companies with open capital listed at Bovespa, from 1997 to 2006. Earning, operate cash flow, EVA® and residual income (EVA® without accounting adjustments) were verified, and the association between these measures and Brazilian company stock returns was analyzed. The influence of accounting adjustments in the explanation of stock returns was analyzed too, in the same period of time. The tests of fixed effect regression and random effect regression for the samples with independent, adjusted and non-adjusted variables showed that the explanation power, measured by r-square, found in the tests, was very low. This result got closer to the results presented by Biddle et al, which did not allow clearly stating how much the economic value and accounting measures explain the stock returns. In the other hand, this result got far from the results presented by Silveira et al, which could prove that Brazilian market has some efficiency in its semistrong-form.
Oka, Armando César. "Fluxo de caixa gerencial pelo método das partidas dobradas e regime de competência." Pontifícia Universidade Católica de São Paulo, 2012. https://tede2.pucsp.br/handle/handle/1495.
Full textThis study, entitled Cash Flow Management by the Double Entry Bookkeeping System and Accrual Basis Accounting and conducted by Armando César Oka, aims at filling the existing gap on Cash Flow exposing the issue of its construction by applying the Double Entry Bookkeeping System and Accrual Basis Accounting under the hypothesis of a single electronic database for building Cash Flow, Balance Sheet and Income Statement for the year. It shows the accountants the Cash Flow as an object of study due to the importance given to this instrument by public and private entities as well as rescuing liquidity of the leading for profit accounting. Carrying on the academic work and the exploratory researches conducted by the researcher of this study, it exposes the reason for the application of the Double Entry Bookkeeping System and Accrual Basis Accounting to the Cash Flow and for its experiment in a legal entity, getting result by using the Cash Flow Statement. The experiment led the researcher to look for clarification, in the existing literature, regarding the results obtained in the Cash Flow Statement. It also led him to make a structural comparison to the Balance Sheet and Income Statement for the year due to the application of the Double Entry Bookkeeping System and Accrual Basis Accounting in the last two instruments. The conclusion of this study is that it is possible to apply the Double Entry Bookkeeping System and Accrual Basis Accounting in Cash Flow by getting an evidence with liquidity characteristics
Este estudo, efetuado por Armando César Oka, intitulado Fluxo de Caixa Gerencial pelo Método das Partidas Dobradas e Regime de Competência , tem como objetivo a pretensão de preencher a lacuna existente sobre o Fluxo de Caixa, expondo a questão de sua construção mediante a aplicação do Método das Partidas Dobradas e Regime de Competência, sob a hipótese de utilização de um só banco de dados eletrônico para a construção do Fluxo de Caixa, do Balanço Patrimonial e da Demonstração de Resultado do Exercício (DRE). Vem mostrar aos contadores o Fluxo de Caixa como objeto de estudo em virtude da importância dada para este instrumental pelas entidades públicas e privadas, resgatando a liquidez da preponderante contabilidade voltada ao lucro. Em continuidade ao trabalho de formação acadêmica e pesquisas exploratórias efetuadas por este pesquisador, expõe a razão da aplicação do Método das Partidas Dobradas e Regime de Competência ao Fluxo de Caixa e de seu experimento em uma entidade jurídica, obtendo o resultado mediante a Demonstração de Fluxo de Caixa. O experimento levou este pesquisador a buscar na literatura existente esclarecimentos dos resultados obtidos na Demonstração de Fluxo de Caixa e uma comparação estrutural ao Balanço Patrimonial e Demonstração do Resultado do Exercício em virtude da aplicação, nestes dois últimos instrumentais, do Método das Partidas Dobradas e Regime de Competência. A conclusão alcançada é que é possível aplicar o Método das Partidas Dobradas e Regime de Competência no Fluxo de Caixa, obtendo-se uma evidenciação com características voltadas à liquidez
Pšurný, Adam. "Podnikatelský záměr rozvoje firmy." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2013. http://www.nusl.cz/ntk/nusl-224249.
Full textAndršová, Eva. "Účetní závěrka v souladu s IFRS." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2010. http://www.nusl.cz/ntk/nusl-222547.
Full textKotková, Marie. "Vykazování peněžních toků organizačních složek státu v České republice." Doctoral thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-161977.
Full textLima, Wilson Xavier. "Uma aplicação do modelo de fluxo de caixa descontado a partir das informações contábeis obtidas a custo zero: estudo de caso da Companhia Vale do Rio Doce." Pontifícia Universidade Católica de São Paulo, 2006. https://tede2.pucsp.br/handle/handle/1630.
Full textOur study is a contribution to the discounted cash flow model application and the use of the information contained in the financial reports for valuation purposes. The presentation starts with a description of the main financial markets, their functioning, most important segments: monetary, credit, capital and foreign exchange markets. The capital market is the place where companies deal their shares. In the stock market the first crucial information is given: the firm s market value that is a result of the share negotiation unit price multiplied by the total number of existing company s stocks. Also important in this part of the work is the reasoning behind investors information use. A detailed overview of the information given by the financial reports and their most common utilization is the next required step of the work. The last part of the theory revision is the presentation of the firm s evaluation models described in the modern financial theory and the presentation of that one to be applied in our case study: the discounted cash flow model. The case was built on the mentioned theory foundations. The material for the case consists of the Companhia Vale do Rio Doce available financial reports taken from the company s site in Internet. They are those required by the Comissão de Valores Mobiliários, the equivalent in Brazil of the Security Exchange Commission. In the conclusion the value calculated through discounted cash flow model based on different assumptions for the value drivers define an interval where the market value of the company can be placed in
O objetivo deste estudo é oferecer uma contribuição à utilização das demonstrações financeiras produzidas segundo as normas contábeis brasileiras como base para a avaliação de empresas segundo o método dos fluxos de caixa descontados. Inicia-se o trabalho pela apresentação dos mercados financeiros: o monetário, o de crédito, o de capitais e o cambial, suas finalidades e seu funcionamento básico. Num segundo momento, focaliza-se um segmento do mercado de capitais: o de ações, suas principais características e o preço das ações que formará o valor de mercado de uma empresa e de que forma o mercado trata a utilização de informações relevantes segundo a teoria de finanças. Em seguida, analisam-se em detalhe a informação contida nos relatórios contábeis e os usos mais comuns dados a esta informação. Por fim descrevemos os modelos de avaliação de empresas da moderna teoria de finanças e o método escolhido para a análise do caso: o do fluxo de caixa descontado. Após a exposição dos fundamentos teóricos, inicia-se o estudo de caso sobre o material disponibilizado pela própria empresa em seu sítio na Internet, contendo as demonstratções financeiras produzidas para fins de atendimento das normas da Comissão de Valores Mobiliários. Como fechamento do trabalho, entende-se que os valores calculados através do fluxo de caixa descontado com base em diferentes hipóteses sobre os direcionadores de valor formam um intervalo estatístico no qual se encontra o valor atribuído à empresa pelo mercado
Gabrhelíková, Zdeňka. "Transformace IFRS do českých účetních standardů - některé problémy aplikované do podmínek vybrané fi." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2007. http://www.nusl.cz/ntk/nusl-221397.
Full textPartlová, Lucie. "Stanovení hodnoty podniku." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2018. http://www.nusl.cz/ntk/nusl-377932.
Full textSantos, Neto João Batista dos. "Decisão de investimento em empresa de pequeno porte de comércio e serviços: uma abordagem probabilística com a teoria das restrições e a teoria das opções reais." Pontifícia Universidade Católica de São Paulo, 2012. https://tede2.pucsp.br/handle/handle/1501.
Full textMany investment projects present as relevant characteristics: the uncertainty to future earnings, the irreversibility of investment and the managerial flexibility, with regard to the freedom with the decision making in the time. Studies show that these characteristics are not treated by the traditional methods of planning and evaluation of investment, and for to supplement the limitations of these methods, an alternative that is gaining prominence is the Real Options Theory, whose application has been studied with a focus on investments that require large amounts of capital, such as mining, oil exploration and power generation. This alternative can also benefit investment projects for micro and small companies, providing that are taken into account their constraints, especially in relation to the amount of capital available. This paper aims to propose a method for planning and evaluation of investment, with the joint application of the Theory of Constraints - TOC - and of the Real Options Theory - TOR - in the process of decision making for investment in small businesses the trade sectors of products and services. The methodology consisted of an exploratory research and development of a Single Case Study, which focused on the application of the proposed method in financial planning before the opening of a business focused on sales of products and services for pets. The case study validated the hypothesis and attested the effectiveness of the proposed method, because beyond of make possible a level of free cash flow near to the traditional methods, the proposed method has made possible: the optimization of production capacity and financial resources available; the identification of the lower risk option, and the maximizing of the return on investment
incerteza quanto aos ganhos futuros, a irreversibilidade do investimento e a flexibilidade gerencial, no que diz respeito à liberdade de decisão no tempo. Estudos demonstram que estas características não são tratadas pelos métodos tradicionais de planejamento e avaliação de investimento, e para suprir as limitações destes métodos, uma alternativa que vem ganhando destaque é a Teoria de Opções Reais, cuja aplicação vem sendo estudada com foco em investimentos que requerem elevados montantes de capital, tais como: mineração, exploração de petróleo e geração de energia. Esta alternativa também pode beneficiar os projetos de investimentos de Micro e Pequenas Empresas, contanto que sejam levadas em consideração as suas restrições, sobretudo, em relação ao montante de capital disponível. Este trabalho tem por objetivo propor um método de planejamento e avaliação de investimento, com a aplicação conjunta da Teoria das Restrições TOC e da Teoria das Opções Reais TOR no processo de tomada de decisão de investimento em empresas de pequeno porte dos setores de comércio e serviços. A metodologia consiste numa pesquisa exploratória e no desenvolvimento de um Estudo de Caso Único, que enfocou a aplicação do método proposto no planejamento financeiro antes da abertura de um empreendimento voltado para a comercialização de produtos e serviços destinados a animais de estimação. O estudo de caso validou as hipóteses e atestou a eficácia do método proposto, pois além de viabilizar um nível de Fluxo de Caixa Livre próximo ao dos métodos tradicionais, o método proposto viabilizou ainda: a otimização do uso da capacidade produtiva e dos recursos financeiros disponíveis; a identificação e a opção de menor risco, e a maximização do retorno sobre o Investimento