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Managing Corporate Finance Essay

4988 words - 20 pages

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Course: MBA in General Management-Vietnam

Level: M

Module: Managing Corporate Finance

Credits: 12

Assignment: One of one

Weighting: 100%

Date Issued: posted on WebCT on December 1, 2006

Submission Date: Friday 13th April 2007

Tutor: Terry Elliott

Contact Details: Telephone (0044)-1204-903024

ID Student: 0508265/1

INTRODUCTION

Vietnam became the 150th member of World Trade Organization (WTO) on 11 Jan 2007. Its day was a special day as it set a historic landmark in Vietnam’s economic development. Not only is it the landmark in Vietnam‘s stride for full integration into the global ...view middle of the document...

In this paper I will analysis of the impact of the recent accession of Vietnam to WTO with respect to the Corporate Finance environment and to Auto industry that is the business sector I am working now.

LITERATURE REVIEW

Studying from China, this country joined to WTO on 2001, opening up of the financial industry is an important part of the whole opening strategy for China. Financial is also the rational choice to further open up its economy and benefit from the strategy called ‘improvement through contact’. Full-scale contact with the international markets means that China may gain access to global economic resources in a broader scope and at the same time expose the domestic financial market to the impact (Globalization: the Role of Institution Building in the Financial Sector- The Case Study of China-, August 2003)

Acknowledge from China ‘ experience and as commitment road map with WTO, Vietnam government quickly concentrate to financial globalization field, they initiate quickly focus to have a clear – sighted in a mass financial trading policies issues and this change reality bring a good view to administrative reform in Vietnam.

One of major part to form the corporate financial environment is Accounting information. Why do companies provide accounting information? Public companies have a variety of stakeholders: shareholders, bondholders, bankers, suppliers, employees, and management, for example. These stakeholders all need to monitor how well their interests are being served. They rely on the company’s periodic financial statements to provide basic information on the profitability of the firm (Richard A. Brealey, Stewart C. Myers, Alan J. Marcus, 2001).

That value information, at present, is magnetic needle/ value goods for businessman in security market. Its power and influence is more and more impact to every Company and national even. Those audited data aspect have ever brought and decide a vital question of a business. False information is forbidden in corporation, tax law that issue is partly indicated the key role indispensable of accounting data in business environment. How we can calculate it? Where we can get that information? Financial statement is the respond to those questions. It is indeed contained importance information on Company’s operating and financial position. Because these statements are widely standardized, the date they contain can be used to make the comparisons between firms and over time. The relationship between certain items of finance data can be used to identify areas where the firm excels and, more importance, areas of opportunities for improvement. Review on that report, at least, you can analyze a firm’s overall performance and assess its current financial standing. You may, more over, wish to understand the policies of a competitor or the financial health of a customer. And financial ratios calculated is a useful tool to analysts summarize from the large volume of accounting...

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