英国硕士论文代写 1-20

by | 20-Jan-2013 | 英国论文代写

英国硕士论文代写

The only risk that is introduced for the analysis is related to the exchange rate between the UK Sterling and the US Dollar. The contract is priced in USD. If the Sterling moves in the opposite direction, then naturally, this may leverage into a much greater decrease in profits since the costs of the company will not change due to being denominated in UK Sterling.

Second Part)

A non-discounted method  that could be used to evaluate the contract would be the payback period. In the payback period, it is seen how much time would it take for the project to recoup its costs. The answer is typically in 2-3 years. This method is relatively simple and easy to understand. However it can only be used for short term projects. Moreover, this method ignores the time value of money which is very important for project finance. Moreover, this method also does not take into account the riskiness of the project as the discount rate is not used which normally accounts for the riskiness. Moreover, this is a relative measure of evaluating projects. It can only be used when a comparison needs to be made between two projects. Finally, this method also does not contain a benchmark, comparison to which results in a ‘yes’ or ‘no’ answer. Such benchmarks are contained in other methods such as IRR where a rate above the discount rate indicates a positive result and NPV where an outcome that is positive indicates a positive result. Such benchmarks allow easy decision making.

Another method that could have been used would be sensitivity analysis that could tell how much the profitability of the project would change for a given change of variables. For example, in this case, the sensitivity of the company’s profits to the exchange rate could be used since the exchange rate is important as already outlined in the preceding section. However this method also has disadvantages. The first one is the this method would only use the profits of the company as a measure of viability of the project while there are other things to consider as well such as initial investments and so on. Secondly, this would just be an accounting analysis since profits are merely an accounting measure and the real indicator for any project must be the cash flows.

英国硕士论文代写

唯一的风险,介绍了分析是英国的英镑和美元之间的汇率有关的。合约是以美元定价的。如果在相反的方向移动,那么自然,英镑,这可充分利用到利润更大的下降,因为公司的成本不会因被英国英镑的变化。

第二部分)

非折现的方法,可以用来评估合同将投资回收期。在投资回收期,可以看到多少时间才能收回成本的项目。答案通常是在2-3年内。此方法是比较简单和容易理解的。但是它只能用于短期项目。此外,该方法忽略了项目融资的资金的时间价值是非常重要的。此外,这种方法也不考虑项目风险的折现率是不使用通常占风险。此外,这是一个相对的措施项目评估。它只能在两个项目之间的比较需要用。最后,这种方法也不包含一个基准,比较的结果在一个“是”或“否”的答案。这样的基准是包含在其他方法如内部收益率在以上的贴现率率表明一个积极的结果,净现值,结果是积极的表示一个积极的结果。这样的基准让决策容易。

另一种方法,可以将灵敏度分析,可以看出项目的盈利能力,多少会改变一个给定的变量的变化。例如,在这种情况下,该公司的利润对汇率的敏感性可能是由于汇率是很重要的,已在上一节中列出的应用。但是这种方法也有弊端。第一个是这种方法只会使用公司的利润来衡量项目的可行性,同时还有其他的事情要考虑诸如初始投资等。其次,这只是一个会计分析由于利润只是会计计量和任何项目的真正指标必须是现金流。

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