(A) Define and discuss the factors/constraints that firms must consider in the selection and implementation of their dividend policy. (B) Compare and contrast the different dividend theories. (C) Discuss the “psychology of dividends”, and its impact on dividend policy. (D) Also, define the mechanics of when a dividend is declared and paid, and its potential impact on value. (E) Finally, why a firm would enter into a stock repurchase program as another way to increase value to shareholders. 42. Define and discuss, including their relative strengths and weaknesses, the NPV, IRR and Payback methods of evaluating capital projects. Which method, if any, is the preferred methodology to use/rely on, in making capital budgeting decisions, and why. 43. Define (1) what is the Cash Conversion Cycle and (2) how the Cash Conversion Cycle is calculated. Also, define how it is calculated, by component. Identify ways, by component, that an organization can improve its operations by utilizing the Cash Conversion Cycle.
Your goal for this Touchstone is to build your confidence with technology. Using Microsoft Excel, you will organize three monthly budgets, visualize the data using