Company Valuation Under IFRS : Interpreting and Forecasting ...

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Index E Earned premiums 301-303, 322-323 Earnings before interest and tax (EBIT) 19, 103, 127, 138, 144, 170-178, 185, 194, 198, 203-204, 214, 216, 223, 227, 348 Earnings before interest, tax, depreciation and amortisation (EBITDA) 2, 89 Earnings before interst, tax and amortisation (EBITA) 160, 173, 203-204, 214, 227, 348 Economic capital 285-286, 289, 296-298, 323, 375 Economic profit (EP) 3, 15, 19-20, 54, 85, 99-100, 106, 129, 145, 166, 169, 190- 192, 200-212, 217-219, 236, 256, 257-259, 285, 287, 333, 348, 376-381 Embedded value (EV) 75, 271, 299, 311, 326-328, 332-335, 380 Employment costs 3, 188 Enterprise value (EV) 2, 60-63, 67, 134, 145, 202-203, 217-219, 230, 259 EPRA net assets (EPRA NAV) 340 EPRA NNNAV 341 Equity accounting 351, 353-354 Equity Beta 38, 44, 50-51 Equity risk premium 68, 202, 217, 259 Equivalent yield 340 European Public Real Estate Association (EPRA) 340 Exxon 266, 268-271, 311, 328 F Fade 78-84, 169, 239-243, 303, 338-340 Fade rates 240 Fades 79, 84, 238-241, 338-339 Fair value 16, 62, 64, 67, 75, 86-87, 101-106, 119-155, 166, 183, 206, 226-227, 256, 262, 271, 278, 295, 306, 328, 332-334, 346, 355, 358, 365-368, 373, 376- 381 Fair value hedge 147, 166 Finance leases 135, 140, 142 Financial accounting Standards Board (FASB) 94, 95, 101, 102, 112 Financial gearing 202 Financial leverage 34, 35, 198, 286 Fixed assets 3-4, 71, 75, 86, 109, 133, 137, 145, 153-156, 159-162, 170, 174, 176, 180-185, 193-195, 205, 215, 224, 227, 229, 237, 246-247, 254, 259, 261- 264, 268, 274, 286-287, 351, 359-365, 381 Fixed costs 170, 172, 177-178, 205, 222, 237, 364, 366, 373 Foreign exchange (FX) 68, 91, 154, 161-165, 190, 280 Foreign subsidiaries 164, 356 Free cash flow (FCF) 4-5, 13, 15, 18-19, 44-45, 51, 128, 134-135, 169, 180, 202- 206, 209, 217, 219, 274, 325 401
Company valuation under IFRS Full cost 207, 264 Future growth 144, 204, 332-333, 377-380 G Gearing 35-39, 46-50, 54, 199, 201-202, 218-219, 237-238, 259, 289, 366, 374 General insurance ix, 304, 311, 322, 325, 328, 330 Generally accepted Accounting Principles (GAAP) 88-94, 97, 100-107, 112, 118, 125, 129, 132, 135, 139, 145, 151-157, 162, 164, 260, 278, 279, 299, 303-307, 358 Goodwill 8, 75, 115, 156-159, 173-174, 177, 186, 193, 200-204, 214-215, 227- 229, 281-282, 309, 345-348, 351, 355, 361-365, 373-378 Gordon Growth model 6-11, 15, 33, 36, 45, 182, 191, 205-210, 256, 394 Gross cost of debt 40-50, 68, 202-203 Gross premiums written 323 Growth companies, 12, 212, 245 H Hedge accounting 147, 150-153, 277, 295 Hedge designation 165 I Impairment 73-74, 85, 154, 157, 160, 256, 276, 295, 328, 346, 375, 378, 382 Impairment of value 73-74, 85, 160, 256, 382 Initial yield 288, 340 Insurance companies 31, 75, 199, 245, 299-309, 311, 322, 324, 328, 334, 380, 387 Intangible 75, 86, 156, 158, 160, 169, 183, 238, 281, 308, 348, 375 Interest paid 137, 175, 177, 185, 189, 216, 287 Interest received 175, 185, 216, 287 Internal rate of return (IRR) 1, 71, 75, 77, 84, 248, 276, 380 International Accounting Standards (IAS) 93, 101 International Financial Reporting Standards 100 Intrinsic value 55-61, 65-68, 100-103, 106, 258, 357, 379, 383, 386 Iteration vii, 46, 201, 237 402
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Company valuation IFRS under Interp
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HARRIMAN HOUSE LTD 3A Penns Road Pe
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Contents Index of exhibits About th
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Index of exhibits Chapter One 1.1 C
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Index of exhibits 4.28 Capitalising
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About the authors Nick Antill: Sinc
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Company valuation under IFRS Most q
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Company valuation under IFRS Chapte
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Acknowledgments The authors have be
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Company valuation under IFRS Are th
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Company valuation under IFRS The sa
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Company valuation under IFRS 2. Div
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Company valuation under IFRS Exampl
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Company valuation under IFRS Exampl
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Company valuation under IFRS Deriva
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Company valuation under IFRS balanc
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Chapter Five Valuing a company Pull
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Chapter Five - Valuing a company Ex
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Company valuation under IFRS busine
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Company valuation under IFRS Model
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Company valuation under IFRS capita
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Company valuation under IFRS to fad
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Chapter Seven An introduction to co
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Chapter Seven - An introduction to
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Page 410 and 411: Further reading Introduction This b
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Page 424 and 425: Index A Accrual 14-15, 90, 99, 106,
Page 428 and 429: Index J Joint venture 354 L Leases
Page 430 and 431: Index Regulatory capital 274, 281,
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