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an application question which is about "capital markets research" in accounting."Marcus Padley, a stockbroker, made the following statements in an article in The Sydney Morning Herald.I love 'the Warren Buffet Way'. In fact, one of my first clients introduced himself by saying,' I am Fred and I'd like to invest the Warren Buffet Way'. Well whoopee do! What shall we do? Get the annual reports of the top 200 companies. Analyse the accounts of each, assets 'value' and then go to the stock market and find out that 'wow, i'm right and the whole market is wrong' and the share price is trading below the true 'value'. The purchase the shares and wait for that value to inevitably emerge.In fact most Warren Buffett-based approaches are terrible at timing, which in reality is about the only thing that really matters. In an increasingly impatient market it is not just about 'what', it is becoming all about 'when'. Investors who sat through the 54.5 per cent fall in the market in the financial crises need to earn 113% to get their money back. That's 13 years of compounding average annual returns. Not caring about 'when' just cost us 13 years."Critically evaluate the 2 statements made by Marcus Padley in the context of capital market research.
The lower-of-cost-or-market concept is used in the valuation of inventory. Describe this concept. How does this concept affect your company's profitability, or the profitability of a company with which you are familiar?
What are the potential proprietary costs from expanded disclosures in each of these areas? If you conclude that proprietary costs are relatively low for either, what alternative explanations do you have for management's opposition?
Conversion cost per unit equals $9.00. Total materials costs are $60,000. Equivalent units are 20,000. How much is the total manufacturing cost per unit?
At the beginning of 2011, based on new marketing research, Barkley determines that the fair value of the tradename is $12,000. Estimated total future cash flows from the trade name are $13,000 on January 4, 2011.
Gamma Ltd is not expecting to pay dividends for three years, at the end of year four, a dividend of $2.00 is planned and dividends are expected to be constant forever after that. The required rate of return for Gamma Ltd equity is 14% pa.
Briefly explain the depreciation and impairment process in relation to approximating the fair value of fixed assets?
The Bay Fig Corporation has a $350,000 gain from operations for 2009, and dividends of $100,000 received from 30%-owned domestic corporations. How much is the Bay Fig Corporation's dividends received deduction for 2009?
What is the legal capital of the corporation? At what average price per share has the preferred stock been issued? How many shares of common stock have been issued?
Give the eliminating entries needed at December 31, 2008, to prepare consolidated financial statements.
Pardee Company earned $25,000 of cash revenue. What kind of transaction is this?
Your hospital has billed charges of $4,000,000 in February. If your collection experience indicates that 20 percent is paid in the month billed, 40 percent in the second month, 20 percent in the third month, and 5 percent in the fourth month, dete..
What is the difference between book value per share of common stock and market value per share? Why does this disparity occur?
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