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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.
代写dissertation
由于所需的所有可用信息，净现值分析作为贴现现金流量法。此外，逐步现金流量法作为本公司将获得无债务融资的新合同，因为这样做会导致违反契约（黑2008，221）。在折现率，资本资产模型应用到股票的折现率为20%。一个公平的使用是适当的折现率自项目是由股权。然而这也提高了，公司会陷入现金在未来提高12000000似乎很难从内部人士透露一点（约翰2007）。然而，这一点是因为任何具体数字的缺失分析忽略。
看来，公司是更好的投资项目。作为一个总结的措施，该项目的净现值为正站在~ 16Mn磅。尽管事实上，该公司将面临由于市场，那是遥远的位置分布增加成本，东亚。分配和管理费用以前25%的公司的销售，因为它迎合了欧洲市场，这是更接近英国。然而，更遥远的东方的亚洲市场的需求，我们的销售额的百分比增加至33%销售公司的配送成本（科林斯，2003，55）。
公司总是在收缩战略。它认为，其产品的需求将下降，在可预见的未来，因为预测欧洲经济衰退的欧洲各国政府紧缩措施的驱动（蕾莉2007，76）。此外，它也有麻烦，因为同样的原因，它的合同更新。那么期待，它决定摆脱过剩产能已建成的有机增长的一部分。然而，新的合同，它已经提出，最近似乎优点，否则。新的合同已经提到的是有正的NPV有利可图（史密斯，2005，81）。因此，有理由认为公司应该遵循它。这是真的，这将使公司偏离其既定策略但金融类股一直说的是真话。此外，在分析了财务预测是不是真的预测，但实际上是合同数量至少在收入数据的情况下（下降2006）。
