The impact that individual change in stock price has on the index is proportional to the companyโ€™s overall market value. It is usually made up of short-term bank loans taken by company. This topic can cover auditing in general or a specific area of auditing depending on the expertise you have and the scope of … CNX Nifty covers 22 sectors of the Indian economy and offers investors and investment managersโ€™ exposure to the Indian market in one portfolio. For instance, you may choose the following accounting research paper topics: When you deal with the accounting, it is necessary to consider the slightest details. WACC is used to calculate the cost of capital of a firm. Journal Metrics. In order to calculate the cost of debt, firstly, we have taken the interest expense for all the years from the Profit and Loss statement (available in annual report) of their respective companies. Systems that develop and improve accounting. The rest will be done by our experts from term paper service in the most effective way. Each paper should be supported by the approved facts and examples. This value captures the correlation between the factors that affect the market portfolio. The index is calculated on a real-time basis on all days that the NSE of India is open. In the 1950s, two professors Modigliani and Miller (M&M) studied and researched capital structure. The main aspects and impediments of auditing collusion. Cost of Debt is the rate of return that a company is obliged to give to its bondholders. This paper was presented at the IASB Research Forum held on 2 October 2014. It is well-known that there are many types of assignments. Prof. Ser-Huang Poon University of Manchester UK. Gloria Clarissa Dzeha University of Ghana. Academic papers on Accounting & Personal Finance. M&M theory-1 does not account for taxes, transaction costs, and bankruptcy costs, borrowing costs for investors and the firm and the effect of debt on earnings. A particular discipline may induce major problems even if a student knows all assignment types perfectly. 5. Alternative Philosophies of Accounting Research. Save my name, email, and website in this browser for the next time I comment. It reveals that the use of ratio calculations with multivariate analysis for predicting the performance of business firms is common. The journal seeks to publish research articles that are original hypothetical and theoretical in its nature and that provides exploratory insights in the fields of accounting, corporate finance, investment, insurance, monetary banking, stock exchange, capital markets and relevant subjects. Auditing collusion. Learning the Art of Concluding an Essay Brilliantly! In addition to that, we realized that WACC, CoE and CoD alone cannot predict the overall economy of a country. Components such as common stock, preferred stock, bonds and any other long-term debt etc. Research Papers topics on Accounting. We also examined how WACC, CoE and CoD behaved during the recessionary phase. Computer Science And Engineering Assignment Help, 2.Introduction: WACC (Weighted Average Cost of Capital). Therefore, a greater proportion of debt lowers the company’s WACC. Balance sheets are available in the annual report of all the companies. This process is repeated for 50 companies and for 9 years starting from 2005 to 2013. http://www.investopedia.com/terms/b/beta.asp. It plays an important role in both directions – accounting and management. However, in the real world, there are taxes, transaction costs, bankruptcy costs, information asymmetry and debt. This shows debt financing was available at cheaper rate during this period. At first, we should pass through theory and find out how the things work in action. Your email address will not be published. Which in other words tells us, irrespective of how much debt a firm has; there will be no tax benefits from interest payments thus no benefit or changes to WACC. Notwithstanding the fundamental nature of the debates that permeate much research in accounting and finance, … It is calculated using a Capital Asset Pricing Model (CAPM) model. The most important details concerning the Goldman Sachs securities fraud case. To a certain extent, the CoD line could be used in forecasting the Nifty graph. Moreover, some other factors complicate the process of writing. Research degrees. There has been a greater variation in the cost of debt during the period of study.The report concludes that WACC alone cannot be used to predict the overall economy of a country. Fig1:  Source: Spreadsheet used to calculate WACC of an Index.Figure 1.shows the line chart of WACC, cost of equity (CoE) and cost of debt (CoD), of the index CNX Nifty 50 from year 2005 to 2013. Market Capitalization is the sum of Total Debt and Total Equity. You really have a rich choice, and we have offered you only a small part of it. h-index (May 2019): 16. i10-index (May 2019): 30. h5-index (May 2019): 13 If you require academic help in your dissertation or research paper then get in touch via mail at [email protected] As a leading academic writing services provider in India, we can help you get rid of your assignment fear. Cost of equity is the rate of return companiesโ€™ shareholders expect from them. Similarly, the market capitalization for the rest of the companies for the nine years can be calculated. If you lack the ideas, use our list of suggestions: Management accounting is a vast and popular sphere. One of the reasons of this disparity is the continuous effort of Reserve Bank of India to control inflation by taking various steps under monetary policies. According to this model, investor expects return, which is the sum of the risk free rate and the product of beta of respective companies and the market risk premium (Market return- risk free rate). Probably you also want ideas to base your research on. The 2014 Research Excellence Framework rated 78 per cent of the research in Business and Management as 'world leading' or 'internationally excellent', placing the Departments of Accounting and Finance and Management amongst the leading schools in the UK. Research is a significant part of the work of academic staff and a close supervisory relationship is maintained with the research activities of our postgraduate students. In order to understand the trend of WACC of a stock index, we have calculated WACC for last 9 years starting from 2005 to 2013.The steps described below are carried out for each of the 50 companies separately that constitute CNX NIFTY 50 Index. Same procedure is repeated for all the companies for all the 9 years. However, the way the research will go is predetermined by the chosen topic. What are the most effective accounting systems to help accountants? Beta can be defined as a term used to measure volatility or systematic risk of a security when compared to market as a whole. Have a look at a few more financial accounting research paper topics: The industry of accounting is tightly related to information systems. http://www.investopedia.com/terms/s/shorttermdebt.asp, http://www.investopedia.com/terms/l/longtermdebt.asp. Accounting and finance dissertation topics can be both stimulating and challenging. M&Mโ€™s theory-2 states, corporate taxes acknowledges the corporate tax savings from the interest tax deduction and thus concludes that changes in the debt-equity ratio do affect WACC. We have extracted the short-term debt information from respective balance sheets of each company. Accounting and Finance Research. The Nifty price increased significantly from 2005 to 2007. http://www.investopedia.com/terms/c/costofdebt.asp, http://accountingexplained.com/misc/corporate-finance/wacc. It has shaped to be the largest single financial product in India.The CNX nifty is calculated on a free float capitalization weighted index or Market value weighted index. Often times, students are looking for ideas related to their paper. But due to the lack of ideas and relevant topics for writing a research paper, students have to go through huge turmoil.. Then we have divided the interest expense of a company with their total debt, which we have estimated in above methodology. 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