MBA in finance and accounting part 68

Sher win-Williams Company, 62– 63, 64 Silgan Holdings Inc., 408 Sirena Apparel Group, 525 SmithKline Beecham PLC, 576 Snapple Beverage Corp., 568, 569–570 Social Security/FICA, 326 Software, 156 –164, 540–541 Sole proprietorship, 226 continuity of life, 234 control, 237 formation, 228 –229 liability, 245 out-of-state operation, 231 recognition as legal entity, 232 taxation, 248 –249 transferability of interest, 235–236 Southwest Airlines, 53–54 Spin-offs and split-ups, 347–350 Spreadsheet software, 157–160 Standard(s): collecting, 213 cost accounting systems, 217–219 currently attainable, 203 engineering studies, 213–214 fixed costs, 218 –219 government accounting, 217–218 motivation, 213–215 past data, 215 setting (by board of directors), 516...
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MBA in finance and accounting part 68658 IndexSher win-Williams Company, 62– 63, 64 SWOT, 178Silgan Holdings Inc., 408 Synthetic cash, 439Sirena Apparel Group, 525 Synthetic stock, 439SmithKline Beecham PLC, 576 Systematic risk, 613Snapple Beverage Corp., 568, 569–570Social Security/FICA, 326 Taglines, 263Software, 156 –164, 540–541 Takeover, 562Sole proprietorship, 226 Tax issues: continuity of life, 234 acquisition, 322–324, 578, 580, 583, 585 control, 237 business decisions, 314–352 formation, 228 –229 business expenses, 325–326 liability, 245 business forms/entities, 228, 248–255 out-of-state operation, 231 buy-sell agreements, 345–347 recognition as legal entity, 232 case illustration, 315 taxation, 248 –249 complete termination of interest, 341 transferability of interest, 235–236 deferred compensation, 326 –328Southwest Airlines, 53–54 dividends, 26, 339–340Spin-offs and split-ups, 347–350 employee stock ownership plans, 341–343Spreadsheet software, 157–160 equity sharing, 330–335Standard(s): estate planning, 343–347 collecting, 213 executive compensation, 325–330 cost accounting systems, 217–219 family limited partnerships, 344–345 currently attainable, 203 foreign subsidiaries, 405– 406 engineering studies, 213–214 gift tax, 317–318 fixed costs, 218 –219 income tax note (example), 78 –79 government accounting, 217–218 individual federal income tax rates, 249 motivation, 213–215 interest-free loans, 328 –330 past data, 215 like-kind exchanges, 337–339 setting (by board of directors), 516 nonrecurring items, 59– 62, 78 –79, 90, 93 time/motion studies, 214 passive losses, 320–322 types of, 202–203 pass-through entities, 319–320 valuation, 623 reverse triangle merger, 352 variable costs, 218 sale of corporation, 350–351Stead, Jerre, 568 shelters, 321Stock(s), 331–335 spin-offs and split-ups, 347–350 appreciation rights (SARs), 331–332 stock appreciation rights (SARs), 331 vs. cash deals (M&A), 582–583 stock options, 332–334 employee plans (ESOP), 341–343 subchapter S corporation, 316 –322 shareholders, 189, 239–240, 511 substantially disproportionate distributions, substantially disproportionate distributions, 340–341 340–341 taxable income and income tax, 296 synthetic, 439 three-corner exchange, 339 tax issues, 331–335, 340–341 unreasonable compensation, 315–316Storage Technology Corp., 376, 377 vacation home rental, 335–338Story model, 263–265 Team (business plan section), 281–283Straddle, 425 advisory boards, 281–283Strategic partners, 281 bios/roles, 281Strategy, 516 –518, 552–553 board of directors, 281Streaming media, 170 compensation, 283Strike price, 364 external members, 281–283Subchapter S, 227, 252–253, 318 –322 ownership, 283Substitution, principle of, 596 strategic partners, 281Sunk costs, 299 Technology. See Information technologySustainable earnings, 72–96, 617. See also Telef lex Inc., 359 Earnings Telsik, Sarah, 519Swaps, 361, 433, 434, 447– 449 Tenneco Inc., 364, 373, 405 equity, 448 Three-corner exchange, 339 interest rate, 449– 451 Tiger International Inc., 410– 413 Index 659Timeline, 281, 282 investment risk, 596Time/motion studies, 214 marketability, 622Time value of money (TVOM) analysis, 299–301 market value of invested capital (MVIC), 608Time Warner/AOL, 561, 563, 586 minority interests, 622– 623Titan International Inc., 370–371, 388 “mom and pop” business, 595Toys “R” Us Inc., 40, 42, 43 principle of alternatives, 596Transaction processing, 140–144 principle of substitution, 596Transfer pricing, 404– 407 process overview, 595–597Transfer of risk, 424, 432 publicly traded guideline-companies method,Travelers Inc., 575 618 – 621Trimark Holdings, 45 ratio analysis, 601– 603Turnover ratios, 18 reconciliation of methods, 621 standards, 623UAL Inc., 364 strategic/investment buyers, 595“Ubiquitous” computing, 538 Value creation in M&A, 573–581Underlying earnings. See Sustainable earnings Value engineering, ...