FINC 430 - ASSIGNMENTS

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FINC 430 WORK (ALL ASSIGNMENTS MUST BE LABLED PROPERLY AND SEPERATED**)

ASSIGNMENT 1- WEEK 5 DISCUSSION QUESTIONS: (150-200 WORDS**)

1. For the selected company, and using an outline of the principal requirements of the Sarbanes-Oxley Act, prepare an analysis of the company's compliance and reporting activities. This analysis should be based on a careful review of the Form 10K report, proxy statement, and other information and analysis. What is you assessment of the strengths and weaknesses of the company's reporting and compliance activities?

2. Examine the selected company's corporate governance system (normally the policies and other information are available at the company's website). Evaluate the quality of the corporate governance system compared to CalPers or other standards. What are the strengths and weaknesses of the corporate governance system? What recommendations can you offer?

3. What are the most important things that you learned from the study of this week’s readings and assignments?

ASSIGNMENT 2 – WEEK 6 DISCUSSION QUESTIONS: (150-200 WORDS**)

1. Prepare a written analysis of the financial ratios resulting from the Week 2 eVal Financial Forecast of the selected company. This must include trend analysis (historical and projected) and comparative analysis (cross-sectional or industry). The analysis needs to examine strengths and weaknesses revealed by the data. Remember, in a written ratio analysis the actual ratio data need to be included in the written analysis in addition to presentation in any accompanying tables or figures (graphs).

2. What are the most important things that you learned from the study of this week’s readings and assignments?

ASSIGNMENT 3 – WEEK 7 DISCUSSION QUESTIONS: (150-200 WORDS**)

1. Using the Ernst &Young Risk Management Checklist and the "Implementing Enterprise Risk Management" article provided by the instructor, prepare a checklist to evaluate a company's enterprise risk management program. Then, using the Form 10K report, proxy statement, and governance information (from company website), prepare a critical assessment of the company's risk management program. This assessment should clearly identify the program's strengths and weaknesses.

2. Using Altman's Z, estimate the bankruptcy potential for the selected company. Use the instructor's Excel model or develop you own Excel model for this analysis.

3. What are the most important things that you learned from the study of this week’s readings and assignments?

ASSIGNMENT 4 – WEEK 8 DISCUSSION QUESTIONS: (150-200 WORDS**)

1. Identity a recent merger or acquisition (i.e., within the past 5 years) and, using appropriate quantitative indicators, prepare a written evaluation of its performance from the perspectives of managers, shareholders, and the public.

2. What are the most important things that you learned from the study of this week’s readings and assignments?

PROJECT DESCRIPTIONS: (4 TOTAL PROJECTS DESCRIBED BELOW**)

PROJECT 1. Prepare Financial Forecast Using eVal Excel Model

Select a company that will be used for the four class assignments. Make sure that eVal financial data are available for the company (See: http://www.lundholmandsloan.com)

This assignment involves (1) Using e-Val to prepare a financial forecast for the company, and, (2) Preparing a written analysis of the financial forecast. (Note: Alternatively, the ValuePro.net model may be used but the final score for the assignment will be reduced by 20% if that alternative is selected.)

The analysis needs to include:

1. Explanation of Growth Rates - Include an explanation about growth rate projections for the company. (Note: it is difficult to justify long-term growth rates that exceed the growth rate of the economy.)

2. Explanation of All Other Assumptions - Include an explanation of all other assumptions related to future operating performance including costs, margins, efficiency, capitalization, etc. Note: All assumptions used in the forecast need to be explained in the written analysis.

3. Explanation and Interpretation of Projected Financial Statements - Explanation and interpretation of the projected financial statements and discounted free cash flows to include pro forma financial statements (income statements, balance sheets, and statements of cash flows).

4. Explanation and Interpretation of Overall Forecast Results - Examination and interpretation of the overall forecast results and the projected financial ratio analysis.

Writing Instructions

The discussion portion of the analysis should be three to five pages in length, double spaced, and should employ APA style and format for reference citations. Supporting data (e.g., figures, tables, etc.) and references should be submitted limited to four separate attachments in an appendix after the written portion of the paper.

The paper should begin with a short introduction and then proceed to examine the four topics outlined in the previous section.

The subheadings used in the paper should be:

1. Introduction

2. Explanation of Growth Rates

3. Explanation of All Other Assumptions

4. Explanation and Interpretation of Projected Financial Statements.

5. Explanation an Interpretation of Overall Forecast Results & Financial Ratios

Evaluation: 12.5% of final course grade.

Completeness of analysis: The analysis must demonstrate a solid understanding of forecasting and analysis. All assumptions used in preparing the projections of the company need to be thoroughly explained.

Organization: The paper should be well-organized and follow a logical pattern of analysis and discussion.

Presentation: Papers should meet professional business standards and meet APA formatting requirements.

Spelling, punctuation, and grammar: There should be few errors in grammar and punctuation. All sentences must be complete and well-structured.

Submission and Format: The completed paper is to be submitted to the “Gradebook” location designated for the assignment. The paper must be in Word format otherwise no credit is earned for the assignment.

The paper is also to be submitted to the Online Classroom. This will allow students to examine and discuss the various projects.

			GRADING RUBRIC FOR FINANCIAL FORECASTING WITH eVal
Student:
			Description of Evaluation
	Failing, undeserving of credit	Passing, but below standard	Satisfactory, meets essential requirements	Superior Work and clearly above average	Work of Distinction
			Related Grade
	F	D-, D, D+	C-, C, C+	B-, B, B+	A-, A, A+
Category
Required Topics
1. Introduction - Provide a brief overview of the assignment and include a preview of the contents of the report.	Introduction is not presented or underserving of credit.	Only a superficial effort to develop the introduction.	Satisfactory presentation of the introduction.	Superior presentation of the introduction and clearly above average.	Distinctive and very thorough presentation of this first section.
2. Explanation of Growth Rates - Explain the growth rates used in the forecast. Make sure that there is a distinction between near-term and long-run growth rate assumptions.	Virtually no effort to explain the growth rates; of, section not completed.	Marginally passing development and presentation of the growth rate assumptions.	Satisfactory development and presentation of the growth rate assumptions.	Superior development and explanation of the growth rate assumptions.	Distinctive development and presentation of the growth rate assumptions. Very clear, understandable, reasonable, and consistent.
3. Explanation of All Other Assumptions - Explain all assumptions used in the forecast.	Virtually no effort to explain the other assumptions; or, section not completed.	Passing explanation of the other forecast assumptions.	Satisfactory explanation of the other forecast assumptions.	Superior explanation of the other assumptions.	Distinctive explanation of the other assumptions. Very clear, understandable, reasonable, and consistent.
4. Explanation and Interpretation of projected Financial Statements - Examination and interpretation of the projected financial statements and what they mean. This includes a careful review and interpretation of the projected financial ratios.	Virtually no effort to examine the forecasted financial statements.; or, section not completed.	Passing effort to examine the projected financial statements.	Satisfactory effort to examine the forecasted financial statements.	Superior and reasonable comprehensive effort to examine the forecasted financial statements.	Distinctive and comprehensive effort to examine the forecasted financial statements. The analysis is careful, comprehensive, detailed, and consistent.
5. Explanation and Interpretation of Overall Forecast Results - Examination and interpretation of the overall forecast results and what they mean. This includes a careful review and interpretation of the balance sheet, income statement, and statement of cash flows.	Virtually no effort to examine the forecasted results and projected ratios; or, section not completed.	Passing effort to examine the forecasted results and projected ratios.	Satisfactory effort to examine the forecasted results and projected ratios.	Superior and reasonable comprehensive effort to examine the forecasted results and projected ratios.	Distinctive and comprehensive effort to examine the forecasted financial results and projected ratios. The analysis is careful, comprehensive, detailed, and consistent.
6. Writing, Grammar, Spelling, & Presentation - Logical and Smooth Flowing Transitions and Relationships Among Sections of the Written Report. Avoidance of Personal Pronouns; Avoidance of Referring to Company as They, Their, or Them; etc. Appropriate use of reference citations.	Paper is poorly written and presented; not worthy of a passing evaluation. May have failed to use appropriate subheadings for the assignment.	Passing written presentation; may have major weaknesses.	Satisfactorily written presentation with some weaknesses.	Superior written presentation with very limited minor weaknesses, omissions, etc.	Distinctively written presentation with no obvious weaknesses.

PRO JECT 2. Capital Budgeting Investment, Model, and Analysis

Use the company that was selected for the class assignments. This assignment involves development of an Excel-based capital budgeting model and an analysis of a proposed capital budgeting project.

Prepare Capital Budgeting Model and Analysis

Describe a capital budgeting project (i.e., an investment in fixed assets) that might be undertaken by the company that you have selected. Make sure that the project has an initial investment in Year 0, followed by a series of annual cash flows for at least seven (7) years. In addition, determine the discount rate, or hurdle rate, that is appropriate for this project and explain the determination of that rate.

Develop your own Excel spreadsheet model that can be used to determine the Net Present Value (NPV), Internal Rate of Return (IRR), Modified Internal Rate of Return (MIRR), and Profitability Index (PI).

The Excel spreadsheet that you develop must use Excel’s automated financial functions for determining the NPV, IRR, MIRR, and PI.

Following the completion of the spreadsheet analysis, explain whether, or not, the project should be implemented? Also, discuss what the various indicators (i.e., NPV, IRR, MIRR and PI) mean?

For this assignment, it is necessary to develop your own Excel spreadsheet; it needs to be submitted.

The analysis needs to include:

1. Description of Proposed Capital Budgeting Project - Describe a capital budgeting project (i.e., an investment in fixed assets) that might be undertaken by the company that you have selected. Make sure that the project has an initial investment in Year 0, followed by a series of annual cash flows for at least seven (7) years. In addition, determine the discount rate, or hurdle rate, that is appropriate for this project and explain the determination of that rate.

2. Explanation of the Excel Capital Budgeting Model - Develop your own Excel spreadsheet model that can be used to determine the Net Present Value (NPV), Internal Rate of Return (IRR), Modified Internal Rate of Return (MIRR), and Profitability Index (PI). Explain how the model is constructed and the required inputs. Discuss the outputs of the model.

3. Explanation and Interpretation of Capital Budgeting Criteria - Prepare a written analysis of the results including NPV,IRR, MIRR, PI, and Profitability Analysis.

4. Recommendation About Implementation of Capital Budgeting Project – Develop and defend a recommendation about whether the proposed project should be implemented or not.

Writing Instructions

The paper should begin with a short introduction and then proceed to examine the four topics outlined in the previous section.

The subheadings used in the paper should be:

1. Introduction

2. Description of Proposed Capital Budgeting Project

3. Explanation of the Excel Capital Budgeting Model

4. Explanation and Interpretation of Capital Budgeting Criteria

5. Recommendation About Implementation of Capital Budgeting Project

Evaluation: 12.5% of final course grade.

Completeness of analysis: The analysis must demonstrate a solid understanding of capital budgeting and the analysis of corporate investments. All assumptions used in preparing the projections for the project need to be thoroughly explained.

Organization: The paper should be well-organized and follow a logical pattern of analysis and discussion.

Presentation: Papers should meet professional business standards and meet APA formatting requirements.

Spelling, punctuation, and grammar: There should be few errors in grammar and punctuation. All sentences must be complete and well-structured.

The paper is also to be submitted to the Online Classroom. This will allow students to examine and discuss the various projects.

			GRADING RUBRIC FOR CAPITAL INVESTING, BUDGETING, AND ANALYSIS
Student:
			Description of Evaluation
	Failing, undeserving of credit	Passing, but below standard	Satisfactory, meets essential requirements	Superior Work and clearly above average	Work of Distinction
			Related Grade
	F	D-, D, D+	C-, C, C+	B-, B, B+	A-, A, A+
Category
Required Topics
1. Introduction - Provide a brief overview of the assignment and include a preview of the contents of the report.	Introduction is not presented or undeserving of credit.	Only a superficial effort to develop the introduction.	Satisfactory presentation of the introduction.	Superior presentation of the introduction and clearly above average.	Distinctive and very thorough presentation of this first section.
2. Description of Proposed Capital Budgeting Project - Describe a capital budgeting project (i.e., an investment in fixed assets) that might be undertaken by the company that you have selected. Make sure that the project has an initial investment in Year 0, followed by a series of annual cash flows for at least seven (7) years. In addition, determine the discount rate, or hurdle rate, that is appropriate for this project and explain the determination of that rate.	Virtually no effort to explain the capital budgeting project; or, section not completed.	Marginally passing development and presentation of the description of the capital budgeting project. May be some significant weaknesses in the overall description and related financial data.	Satisfactory development and presentation of the description of the capital budgeting project and its cash flows.	Superior development and presentation of the description of the capital budgeting project and its cash flows. The scope of the project is understandable and the cash flows seem to be relatively realistic.	Distinctive development and presentation of the description of the capital budgeting project and its cash flows. The scope of the project is very understandable and the cash flows are both realistic and understandable.
3. Explanation of the Excel Capital Budgeting Model - Develop your own Excel spreadsheet model that can be used to determine the Net Present Value (NPV), Internal Rate of Return (IRR), Modified Internal Rate of Return (MIRR), and Profitability Index (PI). Explain how the model is constructed and the required inputs. Discuss the outputs of the model.	Virtually no effort to explain the design, construction, and operation of the capital budgeting model; or, section not completed.	Passing explanation of the design, construction, and operation of the capital budgeting model; presentation may be lacking in depth and detail.	Satisfactory explanation of the design, construction, and operation of the capital budgeting model.	Superior explanation of the design, construction, and operation of the capital budgeting model.	Distinctive explanation of the design, construction, and operation of the capital budgeting model. The model has some useful and perhaps special features.
4. Explanation and Interpretation of Capital Budgeting Criteria - Prepare a written analysis of the results including NPV,IRR, MIRR, and PI.	Virtually no effort to examine and explain the results of the analysis; or, section not completed.	Passing effort to examine the results of the analysis using the capital budgeting criteria. May be some errors or inconsistencies with the explanation and interpretation of the results.	Satisfactory effort to examine the results of the analysis using the capital budgeting criteria. May be some minor errors or inconsistencies.	Superior and reasonably comprehensive effort to explain and interpret the capital budgeting criteria for the project.	Distinctive and comprehensive effort to explain and interpret the capital budgeting criteria for the project. The analysis is careful, comprehensive, detailed, and consistent.
5. Recommendation About Implementation of Capital Budgeting Project – Develop and defend a recommendation about whether the proposed project should be implemented or not.	Virtually no effort to develop a recommendation based on the analytical data; or, section not completed.	Passing effort to offer a recommendation based on the capital budgeting criteria. May be some errors and/or inconsistencies in the recommendation.	Satisfactory effort to offer a recommendation about the capital budgeting project. May be some minor errors or inconsistencies.	Superior and reasonably comprehensive effort to offer an appropriate recommendation about the capital budgeting project.	Distinctive and comprehensive effort to offer an appropriate recommendation about the capital budgeting project. The analysis is careful, comprehensive, and consistent.
6. Writing, Grammar, Spelling, & Presentation - Logical and Smooth Flowing Transitions and Relationships Among Sections of the Written Report. Avoidance of Personal Pronouns; Avoidance of Referring to Company as They, Their, or Them; etc. Appropriate use of reference citations.	Paper is poorly written and presented; not worthy of a passing evaluation. May have failed to use appropriate subheadings for the assignment.	Passing written presentation; may have major weaknesses.	Satisfactorily written presentation with some weaknesses.	Superior written presentation with very limited minor weaknesses, omissions, etc.	Distinctively written presentation with no obvious weaknesses.

PROJECT 3. DCF Valuation and EVA/MVA Analysis

Using the company that was selected for the class, there are two parts to this assignment:

1. DCF Company Valuation –

Prepare a DCF Valuation of the selected company using the eVal model and the projections developed in Week 2.

Compare the intrinsic value of the company's stock (valuation) compared to the current stock price.

Interpret and explain the results.

2. EVA & MVA Analysis -

Prepare an analysis of EVA and MVA for the selected company. Excel models are provided by the instructor. Explain the results.

The analysis associated with the assignment needs to include:

1. Explanation of the Variables Used in the DCF Valuation – Explain and justify all of the variables used in the DCF valuation. These would include, but are not limited to, the growth rates, capitalization structure, cost of capital components, WACC, etc.

2. Explanation and Interpretation of DCF Valuation Results – Explain the results of the DCF analysis. This should include an analysis of any difference between the results of the DCF analysis and the current stock price.

3. Explanation of the Data Used for the EVA Analysis and Interpretation of Results – Present the results of the EVA analysis and explain what they mean. The analysis should discuss future EVA results and what variables can affect those results either positively or negatively.

4. Explanation of the Data Used for the MVA Analysis and Interpretation of Results - Present the results of the MVA analysis and explain what they mean. The analysis should explain a discussion of future MVA results and what variables can affect those results either positively or negatively.

Writing Instructions

The paper should begin with a short introduction and then proceed to examine the four topics outlined in the previous section.

The subheadings used in the paper should be:

1. Introduction

2. Explanation of the Variables Used in the DCF Valuation

3. Explanation and Interpretation of DCF Valuation Results

(Including comparison and explanation of differences between the current stock price and results of the DCF valuation.)

4. Explanation of the Data Used for the EVA Analysis and Interpretation of Results

5. Explanation of the Data Used for the MVA Analysis and Interpretation of Results

Evaluation: 12.5% of final course grade.

Organization: The paper should be well-organized and follow a logical pattern of analysis and discussion.

Presentation: Papers should meet professional business standards and meet APA formatting requirements.

Spelling, punctuation, and grammar: There should be few errors in grammar and punctuation. All sentences must be complete and well-structured.

The paper is also to be submitted to the Online Classroom. This will allow students to examine and discuss the various projects.

			GRADING RUBRIC FOR DCF & MVA-EVA ANALYSIS
Student:
			Description of Evaluation
	Failing, undeserving of credit	Passing, but below standard	Satisfactory, meets essential requirements	Superior Work and clearly above average	Work of Distinction
			Related Grade
	F	D-, D, D+	C-, C, C+	B-, B, B+	A-, A, A+
Category
Required Topics
1. Introduction - Provide a brief overview of the assignment and include a preview of the contents of the report.	Introduction is not presented or undeserving of credit.	Only a superficial effort to develop the introduction.	Satisfactory presentation of the introduction.	Superior presentation of the introduction and clearly above average.	Distinctive and very thorough presentation of this first section.
2. Explanation of the Variables Used in the DCF Valuation – Explain and justify all of the variables used in the DCF valuation. These would include, but are not limited to, the growth rates, capitalization structure, cost of capital components, WACC, etc.	Virtually no effort to explain the variables used in the DCF valuation analysis; or, section not completed.	Marginally passing development and presentation of the description of the variables used in the DCF analysis . May be some significant weaknesses in the overall description and related financial data.	Satisfactory development and presentation of the description of the variables used in the DCF valuation analysis.	Superior development and presentation of the description of the variables used in the DCF valuation analysis. The analysis is understandable and the cash flows seem to be relatively realistic.	Distinctive development and presentation of the description of the variables used in the DCF analysis. The assumptions and the cash flows are clear, realistic, and understandable.
3. Explanation and Interpretation of DCF Valuation Results – Explain the results of the DCF analysis. This should include an analysis of any difference between the results of the DCF analysis and the current stock price.	Virtually no effort to examine and explain the results of the analysis; or, section not completed.	Passing effort to examine the results of the analysis. May be some errors or inconsistencies with the explanation and interpretation of the results.	Satisfactory effort to examine the results of the analysis. May be some minor errors or inconsistencies.	Superior and reasonably comprehensive effort to explain and interpret the results of the valuation analysis.	Distinctive and comprehensive effort to explain and interpret the results of the valuation analysis. The analysis is careful, comprehensive, detailed, and consistent.
4. Explanation of the Data Used for the EVA and Interpretation of Results – Present the results of the EVA analysis and explain what they mean. The analysis should discuss future EVA results and what variables can affect those results either positively or negatively.	Virtually no effort to explain the data used in the EVA valuation analysis or to interpret the results; or, section not completed.	Marginally passing development and presentation of the data used in the EVA analysis and interpretation of the results . May be some significant weaknesses in the overall description and interpretation of the financial data and results.	Satisfactory development and presentation of the data used in the EVA analysis and interpretation of the results. May be some weaknesses in the description of the data and interpretation of the results.	Superior development and presentation of the description of the data used in the EVA analysis and interpretation of the results. The analysis is understandable and the results seem to be relatively realistic.	Distinctive development and presentation of the description of the data used in the EVA analysis and interpretation of the results. The assumptions and results are clear, realistic, and understandable.
5. Explanation of the Data Used for the MVA Analysis and Interpretation of Results - Present the results of the MVA analysis and explain what they mean. The analysis should discuss future MVA results and what variables can affect those results either positively or negatively.	Virtually no effort to explain the data used in the MVA valuation analysis or to interpret the results; or, section not completed.	Marginally passing development and presentation of the data used in the MVA analysis and interpretation of the results . May be some significant weaknesses in the overall description and interpretation of the financial data and results.	Satisfactory development and presentation of the data used in the MVA analysis and interpretation of the results. May be some weaknesses in the description of the data and interpretation of the results.	Superior development and presentation of the description of the data used in the MVA analysis and interpretation of the results. The analysis is understandable and the results seem to be relatively realistic.	Distinctive development and presentation of the description of the data used in the MVA analysis and interpretation of the results. The assumptions and results are clear, realistic, and understandable.
6. Writing, Grammar, Spelling, & Presentation - Logical and Smooth Flowing Transitions and Relationships Among Sections of the Written Report. Avoidance of Personal Pronouns; Avoidance of Referring to Company as They, Their, or Them; etc. Appropriate use of reference citations.	Paper is poorly written and presented; not worthy of a passing evaluation. May have failed to use appropriate subheadings for the assignment.	Passing written presentation; may have major weaknesses.	Satisfactorily written presentation with some weaknesses.	Superior written presentation with very limited minor weaknesses, omissions, etc.	Distinctively written presentation with no obvious weaknesses.

PROJECT 4. Growth Analysis – Organic & Merger/Acquisition

Using the company selected for the assignments, determine two growth strategies for the selected company (one strategy shows organic growth, the other shows merger or acquisition).

Prepare financial projections using eVal for the two growth strategies. The projections need to show the results of company operations following implementation of each strategy.

Then, prepare a written analysis and recommendation for the growth strategy that is recommended for the selected company and defend the recommendation.

The analysis needs to include:

1. Explanation and Analysis of Assumptions and Results of eVal Projections for Organic Growth Strategy – Explain the assumptions that are used in the projections. Discuss the results of the organic growth strategy along with its strengths and weaknesses.

2. Explanation and Analysis of Assumptions and Results of eVal Projections for Merger or Acquisition Growth Strategy - Explain the assumptions that are used in the projections. Discuss the results of the merger/acquisition growth strategy along with its strengths and weaknesses.

3. Examination and Discussion of Comparison of Results of the Growth Strategies – Compare and discuss the two growth strategies. This analysis should include an examination of the comparative strengths and weaknesses of the strategies.

4. Recommendation and Justification of Most Appropriate Growth Strategy – Recommend and justify which growth strategy is most appropriate for the company.

Writing Instructions

The paper should begin with a short introduction and then proceed to examine the four topics outlined in the previous section.

The subheadings used in the paper should be:

1. Introduction

2. Explanation and Analysis of Assumptions and Results of eVal Projections for Organic Growth Strategy

3. Explanation and Analysis of Assumptions and Results of eVal Projections for Merger or Acquisition Growth Strategy

4. Examination and Discussion of Comparison of Results of the Growth Strategies

5. Recommendation and Justification of Most Appropriate Growth Strategy

Evaluation: 12.5% of final course grade.

Organization: The paper should be well-organized and follow a logical pattern of analysis and discussion.

Presentation: Papers should meet professional business standards and meet APA formatting requirements.

Spelling, punctuation, and grammar: There should be few errors in grammar and punctuation. All sentences must be complete and well-structured.

The paper is also to be submitted to the Online Classroom. This will allow students to examine and discuss the various projects.

			GRADING RUBRIC FOR GROWTH ANALYSIS - ORGANIC & MERGER/ACQUISITION
Student:
			Description of Evaluation
	Failing, undeserving of credit	Passing, but below standard	Satisfactory, meets essential requirements	Superior Work and clearly above average	Work of Distinction
			Related Grade
	F	D-, D, D+	C-, C, C+	B-, B, B+	A-, A, A+
Category
Required Topics
1. Introduction - Provide a brief overview of the assignment and include a preview of the contents of the report.	Introduction is not presented or undeserving of credit.	Only a superficial effort to develop the introduction.	Satisfactory presentation of the introduction.	Superior presentation of the introduction and clearly above average.	Distinctive and very thorough presentation of this first section.
2. Explanation and Analysis of Assumptions and Results of eVal Projections for Organic Growth Strategy – Explain the assumptions that are used in the projections. Discuss the results of the organic growth strategy along with its strengths and weaknesses.	Virtually no effort to explain the variables used in the organic growth projections or results of the analysis; or, section not completed.	Marginally passing development and presentation of the description of the variables used in the organic growth strategy and the results. May be some significant weaknesses in the overall description and related financial data.	Satisfactory development and presentation of the description of the variables used in the organic growth analysis and the results.	Superior development and presentation of the description of the variables used in the organic growth analysis and the results. The analysis is understandable and the cash flows seem to be relatively realistic.	Distinctive development and presentation of the description of the variables used in the organic growth analysis and the results. The assumptions and the cash flows are clear, realistic, and understandable.
3. Explanation and Analysis of Assumptions and Results of eVal Projections for Merger or Acquisition Growth Strategy - Explain the assumptions that are used in the projections. Discuss the results of the merger/acquisition growth strategy along with its strengths and weaknesses.	Virtually no effort to explain the variables used in the merger/ acquisition growth projections or results of the analysis; or, section not completed.	Marginally passing development and presentation of the description of the variables used in the merger/ acquisition growth strategy and the results. May be some significant weaknesses in the overall description and related financial data.	Satisfactory development and presentation of the description of the variables used in the merger/ acquisition growth strategy and the results.	Superior development and presentation of the description of the variables used in the merger/ acquisition growth strategy and the results. The analysis is understandable and the cash flows seem to be relatively realistic.	Distinctive development and presentation of the description of the variables used in the merger/ acquisition growth strategy and the results. The assumptions and the cash flows are clear, realistic, and understandable.
4. Examination and Discussion of Comparison of Results of the Growth Strategies – Compare and discuss the two growth strategies. This analysis should include an examination of the comparative strengths and weaknesses of the strategies.	Virtually no effort to develop a strengths and weaknesses analysis of the two growth strategies; or, section not completed.	Marginally passing development and presentation of the strengths and weaknesses of the two growth strategies. May be some significant weaknesses in the overall description and interpretation of the financial data and results.	Satisfactory development and presentation of the strengths and weaknesses of the two growth strategies. May be some weaknesses in the description of the data and interpretation of the results.	Superior development and presentation of the description of the strengths and weaknesses of the two growth strategies. The analysis is understandable and the results seem to be relatively realistic.	Distinctive development and presentation of the strengths and weaknesses of the two growth strategies. The assumptions and results are clear, realistic, and understandable.
5. Recommendation and Justification of Most Appropriate Growth Strategy – Recommend and justify which growth strategy is most appropriate for the company.	Virtually no effort to develop and support an appropriate recommendation; or, section not completed.	Marginally passing development and presentation of a recommendation and supporting justifications. May be some significant weaknesses in the overall description and interpretation of the financial data and results.	Satisfactory development and presentation of a recommendation along with supporting justifications. May be some weaknesses in the description of the data and interpretation of the results.	Superior development and presentation of a recommendation along with supporting justifications. The analysis is understandable and the results seem to be relatively realistic.	Distinctive development and presentation of a recommendation along with supporting justifications. The assumptions and results are clear, realistic, and understandable.
6. Writing, Grammar, Spelling, & Presentation - Logical and Smooth Flowing Transitions and Relationships Among Sections of the Written Report. Avoidance of Personal Pronouns; Avoidance of Referring to Company as They, Their, or Them; etc. Appropriate use of reference citations.	Paper is poorly written and presented; not worthy of a passing evaluation. May have failed to use appropriate subheadings for the assignment.	Passing written presentation; may have major weaknesses.	Satisfactorily written presentation with some weaknesses.	Superior written presentation with very limited minor weaknesses, omissions, etc.	Distinctively written presentation with no obvious weaknesses.