Session 2 Flashcards
(36 cards)
Can you define the sharing economy ?
The sharing economy is an economic model defined as a peer-to-peer (P2P) based activity of acquiring, providing, or sharing access to goods and services that is often facilitated by a community-based on-line platform.
Why Airbnb is the leader in this industry ?
In this industry, more people using Airbnb, so people are more confident in Airbnb. Airbnb is a platform business has two types of customers tourists and hosts. More tourists -> Airbnb increase and more hosts -> increase the value of Airbnb. A more important customer base, so its value is bigger.
How many guests are on Airbnb ?
There are 40 million guests
Do people have to pay taxes in Airbnb ?
Yes, you receive the 1099 form and Airbnb send your name to the IRS. The master exemption also exists if you rent for less than 14 days.
What are the three standard performance dimensions ?
1) Accounting profitability
What is a 10 K statements ?
10-K statements is an annual report form public company.
What are the different type of Return on ?
ROIC
ROE
ROA
ROR
ROIC
(Profits / Invested capital) = Equity + Debts - preferred stock
Mettre les différents calculs de ROIC, ROE, ROA
krjgekr
What is the calcul for ROR ( Return on Revenue) ?
ROR = Profits / Revenue
What is the calcul for operating income ?
Operating Income = Gross Profits - operating expenses
What is the calcul for Gross Profits (salary) ?
Gross profits = Revenue - COGS
What is the calcul for NOPAT ?
NOPAT = Operating Income (I - Tax race)
What is the Apple of WIndows more eifficient in R & D ?
Apple (5,4%) invest is about 3 times more effective than microsoft (17,3%).
What is the calcul for working capital ?
Working Capital = Current assets - Current liabilities
Give an example of intangible asset
Brandname is an intangible assets (this value is not in your accounting sheet)
What are the limitations of accounting data ?
1) Historical (it’s not the market value) and backward-looking
2) Does not consider off-balance sheet items
3) Focuses mainly on tangible assets
4) May not be the most important
5) Consider: innovation, quality, customer experience (accounting does not)
Why historical value is a limitation ,
Ex : You have buy a land for 2000 million and 5% depretiation each year. The accounting value = 5 millions whereas market value is 2 million.
Whereas can be find intangible, innovation, quality … ?
You find it in the Stock market value.
What is the stock market value ?
Stock Market Value = Shares outstanding x price of each share
Is the stock market value a good evaluation of an asset for IT firm in 2000 ?
In 2000, the highest IT bubble so the stock market value is not the real value.
Definition of shareholders
e
Definition of risk capital
e
Why more value Microsoft since 2013 ?
Since Microsoft lunch hardware and Satya Nadella appointement as a C.E.O
