Corp. Finance #14 Financing-Commons Stock & Preferred Stock


Learn corporate financing options related to common stock & preferred stock form a certified public accountant CPA

What you will learn

Explain corporate financing options

Define and explain the concept of a poison pill as it relates to corporate finance

Define American Depository Receipts (ADRs) and how they are used

Describe majority voting and cumulative voting

Calculate the number of shares required to be able to elect a certain number of board members using cumulative voting

Calculate the number of board members that can be elected given a set number of shares using cumulative voting

Calculate stock rights value

Calculate preferred dividends in arrears

Description

This course will cover corporate financing options using common stock and preferred stock.

We will include many example problems, both in the format of presentations and Excel worksheet problems. The Excel worksheet presentations will include a downloadable Excel workbook with at least two tabs, one with the answer, the second with a preformatted worksheet that can be completed in a step-by-step process along with the instructional videos.

When thinking about financing options for a corporation we can break them into the two main groups of debt financing and equity financing. This course will focus on equity financing. When considering equity financing, we can further break the financing options down into the two main categories of common stock and preferred stock, common stock being what we usually think of when considering equity financing.

Common stock represents company ownership. Preferred stock has features related to both debt and common stock. Preferred stockholders do not have the same voting rights as the common stockholders. However, preferred stock generally has a priority claim to dividend distributions and a priority clam upon liquidation of the company when compared to common stock.

We will also discuss the concepts of majority voting and cumulative voting. With regards to cumulative voting, we will consider calculations related to the number of shares required to be able to elect a certain number of board members and the calculation to determine the number of board members that can be elected given a set number of shares.

The concepts related to majority voting and cumulative voting may be applicable in other setting as well, including politics and not for profit organizations.

English

Language

Content

Introduction

1710 Financing with Common Stock & Preferred Stock Overview

1715 Use of Rights in Financing Company

1716 Poison Pills

1720 American Depository Receipts (ADR)

1725 Preferred Stock Financing

Practice Probs. – Financing with Commons Stock & Preferred Stock

1711 Residual Claims to Earnings

1712 Poison Pill

1713 Cumulative Voting Prob. 1

1714 Cumulative Voting Prob. 2

1715 Cumulative Voting Prob. 3

1716 Cumulative Voting How Many Directors Can We Elect

1718 Dissident Stockholder Group Cumulative Voting Multiple Scenarios

1721 Rights Offering Introduction Problem

1722 Rights Offering Rights Valuation Calculation

1723 Rights Offering – Shares that Could be Acquired Calculation

1724 Stock Rights Investing Scenario

1725 Rights Impact on Asset Position

1726 Rights Offering, EPS, & Price Earnings Ratio

1727 Investment Options Including Preferred Stock Tax Impact

1728 Preferred Dividends in Arrears

1729 Dividends in Arrears Paid Off Through Issuing Bonds

1730 Dividends in Arrears Paid Off Through Issuing Stock

1731 Preferred Stock Borrow & Invest Decision

1732 Preferred Stock Floating Rate

Excel Probs. – Financing with Commons Stock & Preferred Stock

1711 Residual Claims to Earnings

1712 Poison Pill

1713 Cumulative Voting Prob. 1

1714 Cumulative Voting Prob. 2

1715 Cumulative Voting Prob. 3

1716 Cumulative Voting How Many Directors Can We Elect

1718 Dissident Stockholder Group Cumulative Voting Multiple Scenarios

1721 Rights Offering Introduction Problem

1722 Rights Offering Rights Valuation Calculation

1723 Rights Offering – Shares that Could be Acquired Calculation

1724 Stock Rights Investing Scenario

1725 Rights Impact on Asset Position

1726 Rights Offering, EPS, & Price Earnings Ratio

1727 Investment Options Including Preferred Stock Tax Impact

1728 Preferred Dividends in Arrears

1729 Dividends in Arrears Paid Off Though Issuing Bonds

1730 Dividends in Arrears Paid Off Through Issuing Stock

1731 Preferred Stock Borrow & Invest Decision

1732 Preferred Stock Floating Rate




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