Study update

Well today we finally finished our marketing plan for good. I was out for most of the day but I have also managed to do some reading regarding the topic of mergers.

My 6am Start

Well I did get to the gym at 6am this morning but when I got there I found that the trainer meant to give me a routine was sick. Anyhow I just decided to make up my own routine for now & rescheduled to 7.30am next week Thursday. I completed a 2 hour workout--- 50min treadmill, 12min cross-trainer, 13min bike & 45min assorted weights (mostly leg exercises, that's going to be my main focus). Afterwards I felt absolutely fantastic though now I'm starting to get tired as I went shopping afterwards.

In other news I found that my work has given me the time off I requested over exams!

Today's Study

Today I completed the evaluation for my marketing report & revised my price section. I also started work on the executive summary so my part should be done by tomorrow! In other news I read two more finance chapters so now I have only 2 more finance topics left to study! I should finish that up tomorrow & then I'll start re-reading my marketing stuff on Friday.

Fitness Appraisal

I feel like I've gained a little weight while I've been sick so I've decided to take action immediately. I'm renewing my gym membership for a month (I've put aside the money already) & I've booked a fitness appraisal for tomorrow morning at 6am (it was the only time slot they had left >_<). I hereby commit to doing my new routine at least 3 times a week, my goal is to flatten my stomach, shape my butt & tone my thighs; also if I have gained any weight I intend to work it off asap.

Some More Finance

Today I completed two more topics of Finance study, I hope to complete at least two more tomorrow. I also worked on my marketing project & should have that finished by tomorrow evening.

At the moment I'm watching Masterchef, I can't imagine trying to create so many dishes using kiwifruit! It's inspiring me to create some kind of fruit parfait when the holidays start though...

Capital structure

Finished my revision for CFP topics 3, 4 & 5 this weekend; Hoping to start on topic 6 tonight & finish it off tomorrow morning. The three topics dealt with debt policy & whether capital structure matters for an organization. Ultimately there is no one optimal capital structure & there are several factors which may influence a company's choice of structure- the main factors being the potential tax-shield generated by debt & the costs of potential financial distress. The costs of financial distress will be higher for a firm with less material assets--- eg. growth companies whose profits are mainly based on knowledge & human capital structure (Google is one such company)--- as non-physical assets cannot be liquidated to raise extra funds.

However when it comes to raising new money in general a firm will stick to a hierarchy of: internal funds, then debt & finally new equity. This is because a manager who knows their shares are under-priced on the market will be reluctant to sell more while a manager who realizes their shares are over-priced on the market will be happy to issue more. Shareholders realise this & for this reason the share price will drop when managers try to issue new shares.  Therefore a pessimistic, yet intelligent manager still wouldn't issue extra shares. (This doesn't apply in all cases- when the issue of equity is clearly necessary the stock price is unlikely to experience an abnormal fall)

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