Assignment First

代寫:融資決策和發行債券的優劣勢分析

優勢——使用留存收益的最大優勢在於,它不具有任何法律含義,存在資金流出,不會稀釋控制權。與其他債務和股票來源相比,留存收益是更安全的融資來源。

劣勢——留存收益伴隨著機會成本,因此需要謹慎使用。機會成本是Myer通過將留存收益投資於其他商業機會而獲得的利潤或回報。投資的第二個最佳選擇是留存收益的機會成本。因此,Myer的管理需要在投資家居業務的新商機的同時進行管理。


代寫 :融資決策和發行債券的優劣勢分析

除上述資金來源外,Myer管理層應考慮的另一個來源是公開發行債券。以下是對同一問題的解釋:發行債券——債券是承認從公眾那裏獲得的資金,用於企業經營或業務擴張。債券有巨大的法律影響。債券利息是企業組織的財務成本,法定到期。公司可以通過發行債券籌集巨額資金,並以積極的方式影響公司的財務杠桿(Du and Girma, 2012)。在Myer的情況下,發行債券可以成為他們業務擴張計劃的最佳資金來源。

優點-債券最大的優點是它為商業機構提供的稅收優惠。債券利息是指企業為納稅而從凈利潤中扣除的利息,企業在支付財務成本方面享有稅收優惠。大量的資金可以從債券中籌集,Myer需要大量的資金來擴大業務。債券可分期償還借款。

缺點-使用債券也有一些缺點,如債券利息是法定到期的商業組織或Myer。這意味著,如果Myer不能支付債券利息或不能按時贖回債券,義齒持有者可以起訴Myer ltd。發行債券有巨大的法律含義。


代寫 :融資決策和發行債券的優劣勢分析

Advantage- Biggest advantage of using retained earnings is that it does not have any implications with it like legal implication, there is outflow of funds and there will be no dilution of control. Retained earnings are safer source of finance as compared to other sources both debt and equity.
Disadvantage- Retained earnings carry opportunity cost with them and therefore require careful use. Opportunity cost is the profit or return that Myer can earn with the retained earnings amount by investing it in some other business opportunities. The second best alternative option of investment is the opportunity cost of retained earnings. Therefore, management of Myer needs to manage the same while investing in new business opportunity of Home ware business.


代寫 :融資決策和發行債券的優劣勢分析

Apart from mentioned sources of finance, another source that management of Myer shall consider is of issue of debentures in the public. Following is explanation of same:Issue of Debenture- Debentures are acknowledgement of funds taken from the public for the use in business operations or business expansion. Debentures have huge legal implications with it. Interest on debentures is the financial cost for business organisation that becomes statutory due for them. Huge funds can be raised from debenture and it impacts financial leverage of company in posivitive manner (Du and Girma, 2012). In case of Myer, issue of debentures can be the best source of finance for their business expansion plan.
Advantage- Biggest advantage of debenture is its tax saving or tax incentive that they provide to business organisation. Interest paid on debenture is reduction from net profits for tax purposes and business entity enjoys tax saving in terms of payment of financial cost. Huge funds can be raised from debentures and Myer need huge funds for their business expansion. Repayment of borrowed funds form debenture can be made in instalments.
Disadvantage- There are some disadvantages also exists with using debentures like interest on debentures are statutory due for business organisation or for Myer. That means, if Myer is not able to pay interest on debentures or not able to redeem debentures on time then denture holders can sue Myer ltd. There is huge legal implication on issuing debentures.