Assignment First

新西兰数学论文代写:加权平均资本

加权平均资本成本是加权平均资本成本。如果项目是由债务和股权融资的,那么使用WACC是恰当的。如果只以债务或股权融资,则应考虑其他方法。这里假设该项目是债务和股权融资。但是,使用WACC有一些风险,例如:
1.折现因子是一个非常敏感的数字,即使计算出现微小的变​​化或误差,也可能导致项目NPV的巨大变化。如此巨大的变化,甚至可能会把投资决策变成拒绝投资,从而彻底颠覆这一局面。
2.估算销售收入,可变成本和固定成本是非常困难的。在这个项目中,他们似乎都在八年不变的水平,这是不太可能的。
评估项目的不同方法:
评估一个项目在财务上是否值得执行有很多方法。在这种情况下考虑以下内容:
1.贴现现金流量技术(NPV和IRR)。
2.折现投资回收期。
3.资本回笼(ROCE)

新西兰数学论文代写:加权平均资本

1.折现现金流量技术(NPV和IRR):
使用贴现现金流量法时,只计算相关成本(包括机会成本,营运资金成本在内的投资成本)。应忽略与过去成本,沉没成本,承诺成本,折旧以及与项目无关的任何其他固定管理费用等非相关成本。

新西兰数学论文代写:加权平均资本

Decision to use the Weighted Average Cost of Capital (WACC):
WACC is the weighted average cost of capital. If the project is financed by debt and equity, then it is appropriate to use WACC. If it was financed by only debt or equity, then other methods should have been considered. It is assumed here that the project is finances by both debt and equity. However, there are some risks involved in using WACC, such as:
1.The discount factor is a very sensitive figure, and even a slight change or error in its calculation can lead to huge changes in the NPV of the project. Such huge changes may even turn an investment decision into a rejection one, thus completely presenting the picture upside down.
2.Estimating Sales revenue, variable costs and fixed cost is very hard. In this project, they all seem to be at a constant level for eight years, which is very unlikely.
Different Methods of appraising projects:
There are many methods to evaluate whether a project is financially worth carrying out or not. The following are considered in this case:
1.Discounted Cash flow Techniques (NPV and IRR).
2.Discounted Payback Period.
3.Return on Capital Employed (ROCE)

新西兰数学论文代写:加权平均资本

1.Discounted Cash flow Techniques (NPV and IRR):
When using discounted cash flow techniques, only relevant costs (costs of investment appraisal including opportunity costs, working capital costs) should be taken into calculations. Non-relevant costs like past costs, sunk costs, committed costs, depreciation and any other fixed overheads that are irrelevant to the project should be ignored.