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This paper presents the main results from case studies in 10 Swedish manufacturing companies concerning their product costing. The main purpose of the study is to find out what models of product costing the companies use, what allocation bases are applied. Several questions have been asked to the companies: What is the purpose of the product costing? Is a special product costing used for inventory valuation? Is full costing or variable costing used? How are depreciation costs and cost of capital treated? Is some sort of activity-based costing used? If so, which are the cost drivers? The study is a case analysis, no questionnaires are used. The study presents arguments that a separation of product costing in ''Activity-Based Costing'' or ''traditional costing'' is not possible, but also that more ''ABC-thinking'' is necessary.

Matlagningsprogram i TV har på senare tid fått mer uppmärksamhet och många konsu-menter verkar ha påverkats av dem. Syftet med denna artikel är att genom en enkätunder-sökning verifiera eller falsifiera tre hypoteser och på så sätt utreda om och i så fall hur och varför konsumenters beteende och attityder påverkas och förändras till följd av de matlagningsprogram de ser på TV. Den teoretiska utgångspunkten för undersökningen grundar sig i teorier och modeller om mediaeffekter och konsumentbeteende, samt varu-märkeslojalitet. Baserat på detta har hypoteser gällande konsumenters attityd- och beteen-deförändringar formulerats och undersökts genom att vi har studerat den påverkan som matlagningsprogram har på konsumenten. Vi har genomfört en kvantitativ undersökning, bestående av 578 enkäter på vilka vi har gjort statistiska beräkningar. Resultatet av under-sökning visar att matlagningsprogram påverkar konsumenter på så sätt att de har ändrat sitt beteende gällande matlagning och inköp, samt i viss mån sina attityder gentemot fak-torer utöver matlagningsprogram som kan påverka konsumentens köpbeteende. Detta be-ror på tittarfrekvens och programledarens/kockens egenskaper.

Level: Thesis in Business Administration

Date: 20009-06-11

Authors: Anders Johansson & Johan Myhr

E-mail: anders@clubsilk.nu,  johan@clubsilk.nu

Tutor: Mona Andersson

Title: Company valuation according to Value Based Management – application to SkiStar

Problem: Different operators constantly supervise Companies listed at the stockmarket. The stock exchange market is continuously updating the companie’s present value and their forecasted value. It is important that the companies are able to communicate with the market so that the stockvalue reflects the real value of the company. A misguiding or wrong stockvalue could lead to bad strategy decisions and misplaced investments. The Value Based Management theory is seeking to focus on valuation based on the free cashflow generated by a company. A correct company value leads to increased opportunities as to making right strategic decisions about how to dispose available assets in such a way that the shareholder value is maximized and the company longterm survival is secured.

Purpose: The purpose of the thesis is to describe the basic principals of company valuation according to Value Based Management and to illustrate this empirically. We also discuss how the company’s management can use the calculated company value. 

Method: The thesis is written from a positivistic point of view. The method from which specific information has been gathered is characterized by both a qualitative and quantitative approach, such as intervjues, literature compilation and collecting specific company facts. The information that has been compiled constitutes the foundation from which the thesis is written.

Results: We believe that if company management have access to a calculated company value to compare with the stockvalue, they have greater possibilities of making right decisions in terms of guarding shareholdervalue interests. Our calculation points to the fact that the stock is undervalued. This presents management with different options regarding strategic decisions such as repurchasing own stocks, dividends and alternative investments. When executing a company valuation largely based on forecasts you need to be aware of the insecurity involved. It is therefore of great importance that the forecasts are continuously revised and updated.