SFLIDaA.2
PROFIN.HLP     FINASC.TXT  aFINASC2.TXT WFINATHR.TXT █
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                     ═════════════════════════════════════
                      A S S O C I A T E D   E X P E N S E
                     ═════════════════════════════════════

 Associated Expense includes any initial before-tax 'Time 0' non-reocurring
 expense associated with the implementation of a project, e.g., removal or
 rearranging of existing equipment, minor area preparation, operator and/or
 maintenance training, sales tax and other purchasing related expenses.

 In addition, planning, design, research, etc., costs, can often be included
 in the Associated Expense.


 NOTE: ENTRIES INTO THE ASSOCIATED EXPENSE COLUMN CAN BE DOCUMENTED BY:

       - Pressing 'F5' to create Project Notes.

       - Pressing 'F6' to create Alternative Notes.

       - Pressing 'F7' to create a special spreadsheet, word processor  or
         Pro:Bar (INTAC's Bar Graph Analysis program) file that can be used to
         document any entry at the Project, Alternative or Field level.



          ════════════════════════════════════════════════════════════
           A S S O C I A T E D   E X P E N S E  (columns 'd' and 'h')
          ════════════════════════════════════════════════════════════

 Associated Expense includes any initial before-tax 'Time 0'* non-reoccurring
 expense associated with the implementation of a project, e.g., removal or
 rearranging of existing equipment, operator and/or maintenance training,
 sales tax and other purchasing related expenses.

        * Time '0' is the very beginning of the project.

 In addition, planning, design, research, etc., costs, can often be included
 in the Associated Expense.


 NOTE: This field may not be edited here, nor can documentation be created
       or viewed.  To edit this field, or to create or view documentation,
       the Alternative Data Entry Screen must be the current screen.



                    ════════════════════════════════════════════
                     A F T E R - T A X    H U R D L E   R A T E
                    ════════════════════════════════════════════

 Also called the "Opportunity Cost of Money", i.e., the minimum after-tax
 return on investment interest rate that the firm considers attractive
 to earn on its investments.

 A key factor in selecting the hurdle rate is the average after-tax return
 on investment interest rate that the firm can commonly and realistically
 expect to earn on investments in projects other than the project
 being analyzed.

 Often the hurdle rate selected falls in the range of 1.5 to 3.0 times the
 current prime interest rate to borrow money.

 NOTE: ENTRIES INTO THE AFTER-TAX HURDLE RATE COLUMN CAN BE DOCUMENTED BY:

       - Pressing 'F5' to create Project Notes.

       - Pressing 'F6' to create Alternative Notes.

       - Pressing 'F7' to create a special spreadsheet, word processor  or
         Pro:Bar (INTAC's Bar Graph Analysis program) file that can be used to
         document any entry at the Project, Alternative or Field level.



                    ════════════════════════════════════════════
                     A F T E R - T A X    H U R D L E   R A T E
                    ════════════════════════════════════════════

 Also called the "Opportunity Cost of Money", i.e., the minimum after-tax
 return on investment interest rate that the firm considers attractive
 to earn on its investments.

 A key factor in selecting the hurdle rate is the average after-tax return
 on investment interest rate that the firm can commonly and realistically
 expect to earn on investments in projects other than the project
 being analyzed.

 Often the hurdle rate selected falls in the range of 1.5 to 3.0 times the
 current prime interest rate to borrow money.


 NOTE: This field may not be edited here, nor can documentation be created
       or viewed.  To edit this field, or to create or view documentation,
       the Project Common Data Edit/Entry Screen must be the current screen.



                     ═════════════════════════════════════
                      C A P I T A L   I N V E S T M E N T
                     ═════════════════════════════════════

 Capital Investment is the total of the initial funds spent at Time '0'*,
 excluding Associated Expenses, to obtain or improve capital assets, e.g.,
 equipment or real estate. Capitalized installation cost is normally
 included as part of the Capital Investment. (Expensed installation costs
 are normally included in the Associated Expenses.)

           * Time '0' is the beginning of the project


 NOTE: ENTRIES INTO THE CAPITAL INVESTMENT COLUMN CAN BE DOCUMENTED BY:

       - Pressing 'F5' to create Project Notes.

       - Pressing 'F6' to create Alternative Notes.

       - Pressing 'F7' to create a special spreadsheet, word processor  or
         Pro:Bar (INTAC's Bar Graph Analysis program) file that can be used to
         document any entry at the Project, Alternative or Field level.


          ═════════════════════════════════════════════════════════════
           C A P I T A L    I N V E S T M E N T  (Columns 'b' and 'f')
          ═════════════════════════════════════════════════════════════

 Capital Investment is the total of the funds spent at Time '0'*, excluding
 Associated Expenses, to obtain or improve capital assets, e.g.,
 equipment or real estate. Capitalized installation cost is
 normally included as part of the Capital Investment. (Expensed installation
 costs are normally included in the Associated Expenses.)

        * Time '0' is the very beginning of the project.

 NOTE: This field may not be edited here, nor can documentation be created
       or viewed.  To edit this field, or to create or view documentation,
       the Alternative Data Entry Screen must be the current screen.







                                                            <Esc> to exit HELP


                              ═══════════════════
                               C A S H   F L O W
                              ═══════════════════

 Cash Flow is the sum of the Cash Outflow and Cash Inflow fields for
 a given period.

 The Cash Flow field is a calculated field and cannot be directly
 modified.


 NOTE: ENTRIES INTO THE CASH FLOW COLUMN CAN BE DOCUMENTED BY:

       - Pressing 'F5' to create Project Notes.

       - Pressing 'F6' to create Alternative Notes.

       - Pressing 'F7' to create a special spreadsheet, word processor  or
         Pro:Bar (INTAC's Bar Graph Analysis program) file that can be used to
         document any entry at the Project, Alternative or Field level.



            ═══════════════════════════════════════════════════
             T O T A L   D E P R E C I A T I O N   A M O U N T
            ═══════════════════════════════════════════════════

 Total Depreciation Amount is automatically calculated by adding the
 Annual Depreciation Amounts for years '1' through the Project Life.

 Total Depreciation must not exceed the Total Capital Investment.

 Book Value is the difference between the Total Capital Investment
 and the Total Depreciation taken up to the end of a given period
 (also the sum of the depreciation not yet claimed).

                   ═══════════════════════════════════════
                    D E P R E C I A T I O N   A M O U N T
                   ═══════════════════════════════════════

 The Depreciation Amount is automatically determined by multiplying the
 Capital Investment by the Annual Depreciation Percentage.

 The Depreciation Percentage can only be edited immediately following the
 selection of the Depreciation Method of 'OTHER' from the Project Common Data
 Screen.

 If the STRAIGHT, MACRS or ADS Depreciation Method has been selected (by
 pressing the TAB key when the cursor is in the Depreciation Method field)
 the annual depreciation percentage is automatically determined by the
 Depreciation Method and Category (both selected by pressing the 'Tab' key).

  NOTE: ENTRIES INTO THE DEPRECIATION AMOUNT COLUMN CAN BE DOCUMENTED BY:

       - Pressing 'F5' to create Project Notes.
       - Pressing 'F6' to create Alternative Notes.
       - Pressing 'F7' to create a special spreadsheet, word processor  or
         Pro:Bar (INTAC's Bar Graph Analysis program) file that can be used to
         document any entry at the Project, Alternative or Field level.




          ══════════════════════════════════════════════════════════════
           D E P R E C I A T I O N   A M O U N T  (Columns 'c' and 'g')
          ══════════════════════════════════════════════════════════════

 The Depreciation Amount is automatically determined by multiplying
 the Capital Investment by the Depreciation Percentage per period.

 The Depreciation Percentage can only be directly edited when the
 Depreciation Method 'OTHER' has been selected on the Project Common Data
 Entry/Edit Screen.

 If the STRAIGHT, MACRS or ADS Depreciation Method has been
 selected (by pressing the TAB key when the cursor is in the
 Depreciation Method field) the depreciation percentage per period
 is automatically determined by the Depreciation Method and the
 Depreciation Category (both selected by pressing the 'Tab' key).




               ═══════════════════════════════════════════════
                D E P R E C I A T I O N   P E R C E N T A G E
               ═══════════════════════════════════════════════

 The Depreciation Percentage is the percentage of the Capital Investment
 to be depreciated per period.

 The Depreciation Percentage is based on the Depreciation Method and
 Depreciation Category selected  (by pressing the 'Tab' key when the cursor
 is in the Depreciation Method or Depreciation Category field).

 Depreciation Percentage is an calculated automatically  and cannot be
 modified, except when the Depreciation Method of 'OTHER' is selected.

  NOTE: ENTRIES INTO THE DEPRECIATION PERCENTAGE COLUMN CAN BE DOCUMENTED BY:

       - Pressing 'F5' to create Project Notes.
       - Pressing 'F6' to create Alternative Notes.
       - Pressing 'F7' to create a special spreadsheet, word processor  or
         Pro:Bar (INTAC's Bar Graph Analysis program) file that can be used to
         document any entry at the Project, Alternative or Field level.


              ══════════════════════════════════════════════════
               DEPRECIATION  METHOD  AND DEPRECIATION  CATEGORY
              ══════════════════════════════════════════════════

 With the cursor in the Depreciation Method or Depreciation Category field,
 press the <TAB> key to select the method or category desired.


 PRO:FIN will automatically calculate the depreciation percentages and the
 depreciation amount per period based on the above selection and the Capital
 Investment entered for each project alternative.


 The following is a general discussion of depreciation, depreciation methods
 and depreciation categories.  A competent tax advisor should be consulted
 before final decisions are made.


 Additional information is available on the above in Learning Block 7 of the
 FIN/SI manuals.

                               ═══════════════
                                G E N E R A L
                               ═══════════════

 Depreciation is a "non-cash" expense "write-off" of capital investment,
 yielding a reduction in taxable income throughout the depreciation schedule.


 All purchases are either expensed or capitalized. Basically, expensed items
 must be consumed within one year, and/or cost less than approximately $1,000.
 Expensed items are in effect 100% depreciated either when purchased (if the
 item is for internal consumption), or at the time the item is sold.


 Book value is the sum of the depreciation remaining to be taken as of the
 end of any period.  (Also the capital investment minus the sum of the
 depreciation already taken.)

     ═════════════════════════════════════════════════════════════════════
      S T R A I G H T - L I N E    D E P R E C I A T I O N    M E T H O D
     ═════════════════════════════════════════════════════════════════════

 Uniformly distributes the depreciation for the Capital Investment over
 each period (normally years) of the Project Life.


 The Straight-Line Depreciation per period is calculated by dividing the
 Capital Investment required by an alternative by the number of periods of
 the Project Life.


 Selecting the Straight-Line method is recommended when it is not known which
 depreciation method is applicable in a given analysis.

             ═══════════════════════════════════════════════════
             'O T H E R'   D E P R E C I A T I O N   M E T H O D
             ═══════════════════════════════════════════════════

 When the 'OTHER' Depreciation Method is selected, PRO:FIN displays a
 table which allows any depreciation schedule desired (in terms of the
 per cent of the capital investment involved) to be manually entered for
 each depreciation period. Depreciation Amount is calculated automatically.

 This flexible PRO:FIN feature is useful to firms, especially to non-U.S.A.
 companies, who may not or can not use the Straight-Line, MACRS or ADS
 Depreciation Methods which are "standard" in the U.S.A.

            ═══════════════════════════════════════════════════════
             ' N O N E '    D E P R E C I A T I O N    M E T H O D
            ═══════════════════════════════════════════════════════

 Selecting "NONE" for the Depreciation Method disallows any depreciation.

 When a zero percent tax rate is entered, Depreciation Method and Category
 default to "NONE".  However, Depreciation may still be applied by using
 the TAB key to select the Depreciation Method and Category desired.

               ════════════════════════════════════════════════════
                M A C R S   D E P R E C I A T I O N    M E T H O D
               ════════════════════════════════════════════════════

                   MODIFIED ACCELERATED COST RECOVERY SYSTEM

 The current (under the Tax Reform Act of 1986) Modified Accelerated Cost
 Recovery System (MACRS) provides six depreciation categories. Percentage
 schedules for both new and used capital purchases, excluding real estate,
 are shown below with some examples:

 M A C R S    C A T E G O R I E S
 --------------------------------

    3 Year Category: Special tools and devices for manufacturing rubber
                     products, finished plastic, metal goods, and motor
                     vehicles.

    5 Year Category: Computers, office equipment (i.e., typewriters, copiers,
                     etc.), tools, gauges, pollution control equipment, cars,
                     light and heavy duty trucks, renewable energy
                     facilities, and research & development equipment.
    7 Year Category: Office furniture and fixtures.

   10 Year Category: Assets used in petroleum refining, and certain food
                     manufacturing.

   15 Year Category: Certain municipal utility properties, telephone
                     distribution plants and comparable equipment.

   20 Year Category: Certain public utility properties.

 Notes on MACRS Depreciation:
 ----------------------------
   (1) No distinction is made between new and used properties. Salvage
       value does not affect the amount to be depreciated.

   (2) All property, except real property, is considered to be placed in
       service as of the middle of the year. Therefore the property is
       depreciated a half year when placed in service and a half year when
       the property is disposed of or retired from service. Any anticipated
       salvalge value is not considered in this calculation.

   (3) All capitalized costs are depreciated, including capital installation
       costs provided by the purchaser.

   (4) A taxpayer may use the MACRS depreciation method, except for real
       property and property which requires the use of the Alternative
       Depreciation Method (See below).

                 ═════════════════════════════════════════════════
                  A D S    D E P R E C I A T I O N    M E T H O D
                 ═════════════════════════════════════════════════

                         ALTERNATIVE DEPRECIATION SYSTEM


 The Alternative Depreciation System must be used for:

   ■ Property purchased using tax-exempt bond proceeds or used by a tax-exempt
     entity.

   ■ Tangible property primarily used in foreign countries.

   ■ Property imported from foreign countries practicing discriminatory trade.

   ■ An '80/20' company or domestic corporation to figure profits and
     earnings.

   ■ Corporate and individual alternative minimum tax to compute the portion
     of depreciation as a tax preference.

 The current Alternate Depreciation System (ADS) provides nine depreciation
 categories.

    5.0  Year Category: Light trucks, cars, technological equipment.

    9.5  Year Category: Computer telephone switching equipment.

   10.0  Year Category: Railroad track.

   12.0  Year Category: 'No class life' personal property.

   15.0  Year Category: Single application and agricultural structures.

   24.0  Year Category: Telephone distribution plants or similar equipment
         for 2-way communication, municipal water treatment plants.
   27.5  Year Category: Tax-exempt financed, low income housing.
   40.0  Year Category: Real property with no useful life, non-residential
         real, and residential rental property.
   50    Year Category: Municipal sewers.

 NOTE: ENTRIES INTO THE DEPRECIATION METHOD AND CATEGORY COLUMNS
       CAN BE DOCUMENTED BY:

       - Pressing 'F5' to create Project Notes.

       - Pressing 'F6' to create Alternative Notes.

       - Pressing 'F7' to create a special spreadsheet, word processor  or
         Pro:Bar (INTAC's Bar Graph Analysis program) file that can be used to
         document any entry at the Project, Alternative or Field level.

             ═══════════════════════════════════════════════
              A L T E R N A T I V E   D E S C R I P T I O N
             ═══════════════════════════════════════════════

 The Alternative Description field should give a brief description of the
 alternative and should include what makes it unique from the other
 alternatives.

 The Alternative Description field accepts up to 30 characters of any type.



 NOTE: ENTRIES INTO THE ALTERNATIVE DESCRIPTION COLUMN CAN BE DOCUMENTED BY:

       - Pressing 'F5' to create Project Notes.

       - Pressing 'F6' to create Alternative Notes.

       - Pressing 'F7' to create a special spreadsheet, word processor  or
         Pro:Bar (INTAC's Bar Graph Analysis program) file that can be used to
         document any entry at the Project, Alternative or Field level.







                           ═════════════════════════════
                            D I S C O U N T   R A T E S
                           ═════════════════════════════


 A Discount Rate is the interest rate at which each annual (Year
 1 through the Project Life) Incremental After-Tax Cash Flow (IATCF)
 is discounted to obtain the Net Present Value (NPV) of the cash flow.


 One of the Discount Rates should be set equal to your hurdle rate. A hurdle
 rate is the minimum attractive Return On Investment (ROI) interest rate.


 The hurdle rate is also referred to as the "opportunity cost of money". If
 the funds are not invested in the proposed project, the hurdle rate is the
 commonly available "opportunity" Return On Investment that the investor is
 confident would be averaged by investing the funds "elsewhere" (i.e., if
 invested in other projects rather than in the proposed project).

 A project's preferred alternative may vary at different hurdle rates, i.e.,
 Alt. 'A' may be preferred at a hurdle rate of 15%; however, Alt. 'B'
 may be preferred at a hurdle rate of 30%.

 The selection of a hurdle rate is largely dependent on the firm's financial
 structure, the opportunities available to the firm and management's
 subjective operating philosophy and objectives.

 The hurdle rate selected is often in the range of 1.5 to 3.0 times the
 current prime interest rate to borrow money.














                                <Esc> to exit HELP, <PgUp> for previous screen



                         ═════════════════════════════
                          A N N U A L   E X P E N S E
                         ═════════════════════════════

 Annual Expense is any future (years 1 through project life)annual costs
 associated with the project (e.g.: labor, materials and overhead operating
 expenses).

 The Total Annual Cost (Columns 'E 'and 'I' in the detailed analysis chart)
 for Years '1' through the Project Life is calculated by adding the Annual
 Expense and the Annual Depreciation Amount.


                       ═════════════════════════════════════
                        E X P E N S E (Columns 'd' and 'h')
                       ═════════════════════════════════════



 Expense is any future (year 1 through project life) costs associated with
 the project (e.g.: labor, materials and overhead operating expenses).


 NOTE: This field may not be edited here, nor can documentation be created
       or viewed.  To edit this field, or to create or view documentation,
       the Alternative Data Entry Screen must be the current screen.


  ════════════════════════════════════════════════════════════════════════════
   I N C R E M E N T A L   A F T E R - T A X   C A S H   F L O W (Column 'k')
  ════════════════════════════════════════════════════════════════════════════

 The Incremental After-Tax Cash Flow is the annual incremental
 Alt.'B' - Alt.'A' money saved (+) or lost (-), after taxes,
 for each year from 0 through the Project Life.

 The Incremental After-Tax Cash Flow (IATCF) is an automatically calculated
 field and cannot be edited.  Regardless of how it is displayed the
 calculated value is maintained to an accuracy of 11 digits.

 At Time '0' the IATCF is calculated from the difference between the Total
 After-Tax Investment Cost for the alternatives, i.e.,
 (Column 'I' - Column 'E').

 For Years 1 through Project Life the IATCF is calculated by:
    ((Column 'I' - Column 'E') X (1- Tax Rate)) + Column 'J'.

 The IATCF is used in the NPVB CALCULATION & ROI ANALYSIS Screen to calculate
 the Net Present Value Bonus (NPVB) and the Return On Investment (ROI).


      ═══════════════════════════════════════════════════════════════
       I N C R E M E N T A L   A F T E R - T A X   C A S H   F L O W
      ═══════════════════════════════════════════════════════════════

 The Incremental After-Tax Cash Flow is the incremental Alt.'B' - Alt.'A'
 money saved (+) or lost (-), after taxes, for each year from 0 through
 the Project Life.

 The Incremental After-Tax Cash Flow (IATCF) is automatically calculated
 and cannot be edited.

 At Time '0' the IATCF is calculated from the difference between the Total
 After-Tax Investment Cost for the alternatives, i.e.,
 (Column 'i' - Column 'e').

 For Years 1 through Project Life the IATCF is calculated by:
    ((Column 'i' - Column 'e') X (1- Tax Rate)) + Column 'j'.

 The IATCF is used in the NPVB CALCULATION & ROI ANALYSIS Screen to calculate
 the Net Present Value Bonus (NPVB) and the Return On Investment (ROI).

 The Incremental After-Tax Net Salvage Value is automatically added to the
 final year of this Cash Flow.

        ══════════════════════════════════════════════════════════════
         I N C R E M E N T A L   D E P R E C I A T I O N  (Column 'j')
        ══════════════════════════════════════════════════════════════

 Incremental Depreciation is the difference between the Annual Depreciation
 amounts of the two alternatives, i.e., the additional depreciation created
 by Alt.'B' vs. Alt.'A'.*

        * calculated in the detailed analysis chart by:
            (depreciation in Column 'c') - (depreciation in Column 'g').

 The Incremental Depreciation (Depr) is an automatically calculated field
 and cannot be edited.






                           ══════════════════════
                            C A S H  I N F L O W
                           ══════════════════════

 Cash Inflow reflects any future profits or other cash inflows, for
 Year '1' through Project Life, e.g., total before-tax profits from sales
 due to the current alternative.


 NOTE: ENTRIES INTO THE CASH INFLOW COLUMN CAN BE DOCUMENTED BY:

       - Pressing 'F5' to create Project Notes.

       - Pressing 'F6' to create Alternative Notes.

       - Pressing 'F7' to create a special spreadsheet, word processor  or
         Pro:Bar (INTAC's Bar Graph Analysis program) file that can be used to
         document any entry at the Project, Alternative or Field level.




                        ═════════════════════════
                         P R O J E C T   L I F E
                        ═════════════════════════

 Project Life is the number of periods (normally 'Years') over which the
 Financial analysis of the project is to be conducted.

 The first Project Life year starts at the time the first
 significant investment is made in the project.

 The Project Life field accepts a whole number from 1 through 51.
 Normally, the first Project Life Year is a 12-month period starting
 at the time of the first significant investment in the project.

 Project Life may be less than, equal to or greater than the number of
 periods over which the investment is depreciated, i.e., the
 Depreciation Category.

                            ══════════════════
                             PRO:FIN BAR MENU
                            ══════════════════

       The PRO:FIN Bar Menu lists the available options.

       Use the Mouse, Arrow keys or the highlighted characters to move the
       bar cursor to a Menu option. Press the Left Mouse Key or <Enter> key
       to select the option. The option may invoke a command or display a
       submenu.

    PRO:FIN OPTION:
       This option will immediately start the Pro:FIN (Financial Expenditure
       Justification) program. PRO:FIN will automatically perform an
       after-tax Net Present Value and Return On Investment analysis
       including the identification of the alternative (from as many as 50
       alternatives) that will MAXIMIZE FINANCIAL GAINS. PRO:FIN will
       automatically create and retrieve documentation files for all
       entry data.

    HELP OPTION:
       Selecting this option brings up this help screen.

    PRO:BAR OPTION:
       Selecting this option will immediately start the Pro:BAR (INTAC'S
       SELLER / BUYER Bar Graph Analysis program) which graphically
       displays critical information that helps the user to
       MAXIMIZE FINANCIAL GAINS when selling, buying or negotiating.

    PRO:TEXT OPTION:
       Selecting this option will immediately start Pro:TEXT (INTAC, INC's
       word processor program).

    PRO:CALC OPTION:
       Selecting this option will immediately start Pro:CALC (INTAC, INC's
       spreadsheet program).

    DEMOS OPTION:
         Demos available will appear when <Enter> is pressed.  The
         following demos are available for viewing:

              EX6C2          Defender/Challenger Analysis
              EX8A1          NPV and ROI Bonus Calculation (Mandatory)
              EX8A3          NPV and ROI Bonus Calculation (Non-Mandatory)
              EX9A3          Buy Versus Lease
              EX9B1          Lease Versus Lease
              DEMO
              CASE STUDY

         While viewing the demos, no editing may be done.  While viewing an
         Alternative, the following commands may be used:

             <F1>    Request help on any field
             <F5>    View any Project Notes that have been created
             <F6>    View any Alternative Notes that have been created
             <F7>    View documentation other than notes that has been created
             <F8>    View next Alternative when more than one was requested
             <F9>    Print Project Analysis and/or Documentation
             <F10>   Exit Screen

    REFS OPTION:
         Reference files available include Glossary, License and Warranty.
         Select the option you desire to read:

         GLOSSARY       Definition of financial terms used here
         LICENSE        INTAC System Division's License Statement
         WARRANTY       INTAC System Division's Warranty Statement
         TO ORDER       How to order INTAC Products

    PRO:INIT OPTION:
       This option will immediately start the Pro:INIT (Word Processor and
       Spread Sheet Initialization) program.

       PRO:INIT REMARKS:

       (1) INTAC'S PRO:TEXT wordprocessor is always used to create PROJECT
           NOTES and ALTERNATIVE NOTES.  (Press 'F5' and 'F6')

       (2) INTAC'S PRO:TEXT wordprocessor and PRO:CALC spread-sheet may be
           initialized (selected) to create documentation files at the Project,
           Alternative or Field level,

           - - or the user may initialize and use any wordprocessor or
           spread-sheet program on his/her hard drive to create
           documentation.

       (3) While usually not desirable, more than one wordprocessor or
           spread-sheet may be initialized and used within the same project.

    QUIT OPTION:
       Selecting this option exits Pro:FIN to DOS.

                    ═════════════════════════════════
                     A L T E R N A T I V E   N A M E
                    ═════════════════════════════════

 The Alternative Name field accepts up to 16 characters of any type,
 including spaces.


 The Alternative Name must be unique and should be descriptive to
 distinguish it from all other alternatives in a given project.

 NOTE: ENTRIES INTO THE ALTERNATIVE NAME COLUMN CAN BE DOCUMENTED BY:

       - Pressing 'F5' to create Project Notes.

       - Pressing 'F6' to create Alternative Notes.

       - Pressing 'F7' to create a special spreadsheet, word processor  or
         Pro:Bar (INTAC's Bar Graph Analysis program) file that can be used to
         document any entry at the Project, Alternative or Field level.









                    ═════════════════════════════════
                     A L T E R N A T I V E   N A M E
                    ═════════════════════════════════


 The Alternative Name field accepts up to 16 characters of any type,
 including spaces.


 The Alternative Name must be unique and should be descriptive to
 distinguish it from all other alternatives in a given project.


 NOTE: This field may not be edited here, nor can documentation be created
       or viewed.  To edit this field, or to create or view documentation,
       the Alt. Data Entry Screen must be the current screen.







                ═══════════════════════════════════════════════
                 N E T   P R E S E N T   V A L U E   B O N U S
                ═══════════════════════════════════════════════

     NOTE: See Section 2A in FIN/SI manuals for a more complete
           discussion of the following:

 The Net Present Value Bonus (NPVB) is the present value (at Time '0'*)
 amount of money gained or lost due to implementing a given alternative as
 opposed AND IN ADDITION TO implementing
 Alt '0'**.

      * Time '0' is the very beginning of the project.

     ** Alt. '0' means invest 'zero' additional funds in the project.
        Invest the funds 'elsewhere' and earn the specified Hurdle Interest
        Rate).


     NPVB = Investment + Sum of annual benefits discounted
                   at the Hurdle Interest Rate

 The INCREMENTAL Net Present Value Bonus (NPVB) is the present
 value (at 'Time 0') of the amount of money gained (+) or lost (-)
 due to investing additional funds in Alt.'B' vs. Alt.'A', as
 opposed AND IN ADDITION TO implementing Alt. '0'.

 The Net Present Value Bonus field is a calculated field and cannot be
 directly modified.

 If the NPVB is positive, when discounted at the Hurdle Interest Rate,
 then investment in the Alternative or Project is acceptable.

 If the NPVB is negative, when discounted at the Hurdle Interest Rate,
 then investment in the Alternative or Project is NOT acceptable.

 THE NPVB METHOD OF FINANCIAL ANALYSIS IS HIGHLY RECOMMENDED BECAUSE:

     - Total Financial Gains can be maximized by selecting the
       alternative or combination of different project alternatives that will
       maximize the total NPVB.
     - The NPVB method is easy to use.
     - The NPVB method is difficult to MISUSE.

                       ═══════════════════════════════════
                        T O T A L  C A S H  O U T F L O W
                       ═══════════════════════════════════

 Total Cash Outflow is the total of the future operating or other expenses
 due to implementation of an alternative. (e.g.: labor, materials and
 overhead for Year 1 through the Project Life.)

 The Total Cash Outflow field is a calculated field and cannot be directly
 modified.




                         ═════════════════════════
                          P R O J E C T   N A M E
                         ═════════════════════════


 The Project Name may be up to 8 alpha-numeric (both letter and
 number) characters. Spaces and most non-standard characters
 are not allowed. (Pro:FIN will provide notification if entry of an
 invalid character has been attempted).

 The Project Name chosen should provide a meaningful reference name for the
 project.   For example, a Project Name of '0001' is likely to be less
 informative than a Project Name of 'WIDGETS'.



            ═══════════════════════════════════════════════════════
             N E T   P R E S E N T   V A L U E   C A S H   F L O W
            ═══════════════════════════════════════════════════════

 At Time '0'*, the Net Present Value Cash Flow (NPVCF) is equal to the
 incremental investment of Alt.'B' - Alt.'A'.

        * Time '0' is the very beginning of the project.

 For Year '1' through Project Life, the NPVCF is the discounted value of the
 incremental Alt.'B' minus Alt.'A' cash flow.

 The Net Present Value Cash Flow (NPVCF) field is a calculated field
 and cannot be directly modified.

 The NPVCF fields, in a given Discount Rate column, are then added
 to determine the Net Present Value Bonus (NPV Bonus) listed at the bottom
 of the column.


                   ═════════════════════════════════════════
                    R E T U R N   O N   I N V E S T M E N T
                   ═════════════════════════════════════════

 Return On Investment (ROI) is that unique interest rate which
 will discount the Alt B - A Incremental Cash Flow (for Time '0'
 through the Project Life) to a Net Present Value Bonus of zero,
 (i.e., discount the annual savings to equal the initial
 investment).

 Other terms commonly used for ROI are:  Rate Of Return (ROR), Internal Rate
 of Return (IRR) and Discounted Cash Flow Rate (DCFR).  See Learning Block 6
 in the FIN/SI manuals for a detailed discussion of ROI.

 The ROI field is an automatically calculated field and cannot be directly
 modified.

 KEY POINT:
 A commonly made critical error is to rank the financial desirability of
 alternatives or projects by the magnitude of the ROI's involved. (Ranking
 by ROI is valid in the extremely rare cases wherein ALL alternatives and
 projects require the same amount of investment OR EVERY higher level of
 investment yields a higher ROI.)

 EXAMPLE: If the Hurdle Interest Rate is 15%, a project's Alt.'A' with a
 40% ROI on a $1,000 investment is very unlikely to be more desirable than an
 Alt.'B' for the same project with a 34% ROI on a $100,000 investment.

 For further information on ranking by ROI, see Section 6C in the
 FIN/SI Manuals.















                                <Esc> to exit HELP, <PgUp> for previous screen

                        ══════════════════════════════════
                         N E T   S A L V A G E   V A L U E
                        ══════════════════════════════════

 Net Salvage Value = Total Salvage Value minus any cost of sale or removal.

 Total Salvage Value is the total actual expected value of a capital
 asset at the end of its Project Life.

 NOTE:  Pro:FIN automatically calculates Net Salvage Value to equal
        Book Value* minus a 10% allowance for the cost of sales and/or
        removal. Net Salvage Value may then be edited to any desired value
        in those cases where the above automatic calculation is not
        considered to be suitable.

         * Book Value is the difference between the original capitalized
           investment and the total depreciation already taken.

                           RECAPTURE OF DEPRECIATION

 When the remaining book value* is lower or higher than the net salvage
 value the difference must be 'recaptured'.

   ■ If the net salvage value exceeds the book value the difference
     is taxable income.

   ■ If the net salvage value is less than the book value the
     difference is a reduction in taxable income.

 In all cases, the net after-tax salvage value received, including
 any credit or penalty due to depreciation recapture, may be
 calculated as follows:

   (Net Sal. Value) + ((Book Value - Net Sal. Value) X (Tax Rate))

   Example: Based on a $50K capitalized purchase price and straight-line
            depreciation of $10K per year. The book value at the end of the
            3rd year is $20K.  The tax percentage is 40% (therefore, the
            tax rate is .4). In this case:

             ■ If, at the end of the 3rd year, the net salvage value was
              $30K, the net after-tax salvage value would be:

                  $30K + (($20K - $30K) X .4) = $ 26K

             ■ If, at the end of the 3rd year, the net salvage value was
              $10K, the net after-tax salvage value would be:

                  $10K + (($20K - $10K) X .4) = $ 14K

             ■ If, at the end of the 3rd year, the net salvage value was
               $20K, the net after-tax salvage value would be:

                   $20K + (($20K - $20K) X .4) = $ 20K


  KEY POINT: The difference between the net after-tax salvage values
             of the alternatives being compared is used to adjust the
             final year of the incremental after-tax cash flow listed in the
             bottom portion of the detailed analysis chart.

             See Page 7C1 in the FIN/SI manuals.

 NOTE: ENTRIES INTO THE NET SALVAGE COLUMN CAN BE DOCUMENTED BY:

       - Pressing 'F5' to create Project Notes.

       - Pressing 'F6' to create Alternative Notes.

       - Pressing 'F7' to create a special spreadsheet, word processor  or
         Pro:Bar (INTAC's Bar Graph Analysis program) file that can be used to
         document any entry at the Project, Alternative or Field level.

                   ════════════════════════
                    PRO:FIN  SYSTEMS  HELP
                   ════════════════════════

    Individual Field Help may be invoked using the <F1> key.

    System Help may be invoked by using the <F2> key.


    HELP WINDOW MOVEMENT

      Up Arrow Key    Scroll one line up
      Down Arrow Key  Scroll one line Down
      <PgUp>          Page up one window height
      <PgDn>          Page down one window height
      <Home>          Go to the beginning of Help
      <End>           Go to the end of Help
      <Esc>           Exit Help window

    HELP NOMENCLATURE

      <>              These enclose the name of a single keystroke
      ()              Comments
      CAPS            Subject headers

 KEYS:

    The following commands may be invoked by pressing the keys below.

      HELP                 <F1>       Specific help for the current field

      HELP                 <F2>       System help

      PROJECT NOTES        <F5>       Create, view or edit Project Notes
                                      (The File Extension for Project
                                      Notes is NTS)

      ALTERNATIVE NOTES    <F6>       Create, view or edit Alternative Notes
                                      (The File Extension for Alternative
                                      Notes is the numeric value of that
                                      alternative)

      DOCUMENTATION        <F7>       Create, view or edit Documentation for
                                      the project (Use a descriptive name and
                                      extension.  The extension must contain
                                      at least one alphabetic character).

      PREVIOUS/NEXT SCREEN <F8>       Where applicable

      PRINT                <F9>       Print the current Pro:FIN document
                                      (see below for a more detailed
                                      description of the choices)


      QUIT                 <F10>      Save and Exit Current Screen

                           <ESC>      Exit to continue, where applicable



                              PRINTING MODES IN PRO:FIN

       Two printing modes are available and are selected from the Pro:FIN
       Main Menu:

        1)  Print Project Analysis, which provides the following selection
            of print levels:

                 ■  Total printout of all data entry and analysis screens

                 ■  Printout of NPV Bonus and Incremental ROI Summary screens

                 ■  Printout of alternative data entry screens only

                 ■  Printout of detailed NPV Bpnus and Incremental ROI
                    chart screens (This level provides a choice of printout
                    selections).

        2)  Print Project Documentation, in which Documentation files are
            printed from within and using the unique printing procedures of
            the program used to create the Documentation.



















                                <Esc> to exit HELP, <PgUp> for previous screen

                    ═════════════════════════════════════════
                     TOTAL TOTAL (Column 'E' and Column 'I')
                    ═════════════════════════════════════════

 Total Total is the sum of each annual total from Year '1' through the
 project life, i.e., the total of Column 'E' and Column 'I'.


 The Total Total Alternative Expense field is a calculated field
 and cannot be directly modified.








          ════════════════════════════════════════════════════════════
           TOTAL INCREMENTAL AFTER-TAX CASH FLOW (IATCF) (Column 'k')
          ════════════════════════════════════════════════════════════

 Total IATCF is the total of column 'k', i.e., the total of the incremental
 after-tax benefits if Alt.'B' is selected rather than Alt.'A' EXCLUDING
 THE AFTER-TAX INCREMENTAL INVESTMENT ENTERED AT TIME '0'.


 KEY POINT:

     If the Total IATCF is less than the total incremental investment (listed
     in column 'k' at Time '0') then obviously, since the total incremental
     benefit is less than the total incremental investment, the ROI will be
     zero and the Net Present Value Bonus (NPV Bonus) will be negative.  The
     extent that the total IATCF exceeds the total incremental investment
     provides an indication of the magnitude of the ROI and the positive NPVB.


 NOTE:
 Total IATCF (as well as all other column totals on this line) are not really
 necessary when the Pro:FIN computerized program is being used. However, when
 this form has been manually completed this line of totals is very useful in
 verifying the manual calculations of the top portion of this detailed
 analysis form.  (See Page 7E3 in the FIN/SI manuals.)





                        ══════════════════════════════
                         T A X   P E R C E N T A G E
                        ══════════════════════════════

 Enter the sum of the Federal, State and Local taxes tax percentages that
 the firm would NORMALLY be obligated to pay on its taxable income during the
 project life (the tax rates actually paid may be considerably lower).

 For tax-exempt organizations, enter a zero tax percentage.  In this case
 the Depreciation Method and Depreciation Category are not applicable and,
 therefore, will automatically default to 'NONE'.

 NOTE: ENTRIES INTO THE TAX PERCENTAGE COLUMN CAN BE DOCUMENTED BY:

       - Pressing 'F5' to create Project Notes.

       - Pressing 'F6' to create Alternative Notes.

       - Pressing 'F7' to create a special spreadsheet, word processor  or
         Pro:Bar (INTAC's Bar Graph Analysis program) file that can be used to
         document any entry at the Project, Alternative or Field level.

                      ═══════════════════════════════
                       T O T A L   C A S H   F L O W
                      ═══════════════════════════════

 Total Cash Flow is the total of the annual Cash Flows associated with the
 project alternative for year '1' through Project Life.

 The Total Cash Flow field is a calculated field and cannot be directly
 modified.



  ═══════════════════════════════════════════════════════════════════════════
   T O T A L   I N C R E M E N T A L   D E P R E C I A T I O N  (Column 'j')
  ═══════════════════════════════════════════════════════════════════════════

 Total Incremental Depreciation is the sum of the Annual Incremental
 Depreciation (Column 'j') for Year '1' through the Project Life (i.e., the
 total of the additional depreciation yielded by selecting Alt.'B'
 vs. Alt.'A').

 The Total Incremental Depreciation is a calculated field and cannot
 be edited.


 When using the manual form of Pro:FIN this value is used to help
 verify the Total IATCF value. (See Page 7E3 in the FIN/SI manuals.)


   ═════════════════════════════════════════════════════════════════════════
    T O T A L   D E P R E C I A T I O N   A M O U N T (Columns 'c' and 'g')
   ═════════════════════════════════════════════════════════════════════════

 Total Depreciation Amount is automatically calculated by adding the
 Depreciation Amounts (columns 'c and 'g') for years '1' through the
 Project Life.

 Total Depreciation must not exceed the Total Capital Investment.


        ═══════════════════════════════════════════════════════════
         T O T A L   D E P R E C I A T I O N   P E R C E N T A G E
        ═══════════════════════════════════════════════════════════

 The Total Depreciation Percentage is the sum of the annual percent of
 the Capital Investment that will be deducted during Year 1 through
 the project life.

 The total is automatically calculated and must not be greater than 100%.

 The Total Depreciation Percentage field cannot be edited.


            ═══════════════════════════════════════════════════
             T O T A L   D E P R E C I A T I O N   A M O U N T
            ═══════════════════════════════════════════════════

 Total Depreciation Amount is automatically calculated by adding the
 Annual Depreciation Amounts for years '1' through the Project Life.

 Total Depreciation must not exceed the Total Capital Investment.

 Book Value is the difference between the Total Capital Investment
 and the Total Depreciation Amount.

               ══════════════════════════════════════════════════
                T O T A L   E X P E N S E   (Columns 'd' and 'h)
               ══════════════════════════════════════════════════

 Total Expense is the sum of the annual expenses for each alternative (e.g.,
 labor, materials and overhead operating expenses) from Year '1' through the
 Project Life (Column 'd' or Column 'h').

 The Total Expense (Exp) field cannot be modified directly by the user.
 It is calculated by adding each Annual Expense from Year 1 through
 the Project Life.



                    ═══════════════════════════════════
                     T O T A L   C A S H   I N F L O W
                    ═══════════════════════════════════

 Total Cash Inflow is the total of the annual Cash Inflows associated
 with the project alternative (e.g., additional profits from sales)
 from year '1' through Project Life.

 The Total Cash Inflow field is a calculated field and cannot be directly
 modified.



             ════════════════════════════════════════════════════
              TOTAL  ALTERNATIVE  EXPENSE  (Columns 'e' and 'i')
             ════════════════════════════════════════════════════

 Total Alternative Expense for Time '0' is the sum of the Capital
 Investment and the After-Tax Associated Expense.

 Total Alternative Expense for Years 1 through the Project Life is calculated
 by adding the Annual Depreciation Amount and the Annual Expense.

 The Total Annual Alternative Expense field is a calculated field
 and cannot be directly modified.


                       ═══════════════════════════════════
                        T O T A L  C A S H  O U T F L O W
                       ═══════════════════════════════════

 Total Cash Outflow is the total of the future operating or other expenses
 due to implementation of an alternative. (e.g.: labor, materials and
 overhead for Year 1 thru the Project Life.)

 The Total Cash Outflow field is a calculated field and cannot be directly
 modified.




                        ═════════════════════════
                         P R O J E C T   T Y P E
                        ═════════════════════════

 Type 'M' and press ENTER for a MANDATORY project, i.e., a project that
 absolutely must be implemented to meet the requirements of a critical
 objective.

    (In this case, the least viable investment alternative would be
    selected only if the additional incremental investment for a higher
    investment alternative was not found that would yield a positive NPV Bonus
    or an ROI greater than the hurdle interest rate).


 Type 'N' and press ENTER for a NON-MANDATORY project, i.e., a project
 involving a discretionary expenditure of funds.  Such projects may be
 financially attractive but are not absolutely required to meet current
 objectives.

    (In this case, Alt. '0' (invest "zero" funds in the project.
    Invest the funds elsewhere and earn the hurdle interest rate) would be
    selected only if the additional incremental investment for a higher
    investment alternative was not found that would yield a positive NPV Bonus
    or an ROI greater than the hurdle interest rate.)

 For additional related information, please see pages 10 and 11 in the
 Maximizing Financial Gains manual and Section 6C in the FIN/SI manuals.


                                  ═════════
                                   Y E A R
                                  ═════════

 Financial Expenditure Justification is normally calculated on a basis
 of a  'Project Year period, i.e., consecutive 12 month periods starting at
 the time the first significant capital investment is made.  (This is not to
 be confused with a Calendar Year, starting Jan. 1, or an accounting fiscal
 year which may start at any time.)

 In the event that it is desired to use a period other than 12 months
 e.g., bi-annual, quarterly, monthly, etc., the corresponding changes must
 be made. The following examples are based on changing from a yearly analysis
 to a quarterly  analysis:

   (1)  A 4.0% quarterly Hurdle Rate would be used Vs. a 16.0% annual
        Hurdle Rate.

   (2)  The depreciation method of 'OTHER' must be selected and the percent
        of depreciation to be taken quarterly must be manually entered, e.g.,
        for a 5 year project life, a depreciation rate of 20% per year would
        be entered as 5% per quarter for 20 periods.

 The total number of years (periods) available is 51.

 'Year' is a computer-generated field and cannot be directly modified.



                            ═══════════════════════
                             Y E A R  (Column 'a')
                            ═══════════════════════

 Financial Expenditure Justification is normally calculated on a basis
 of a  'Project Year period, i.e., consecutive 12-months starting at the
 time the first significant capital investment is made.  (This is not to
 be confused with a Calendar Year, starting Jan. 1, or an accounting fiscal
 year which may start at any time.)

 In the event that it is desired to use a period other than 12 months
 e.g., bi-annual, quarterly, monthly, etc., the corresponding changes must
 be made. The following examples are based on changing from a yearly analysis
 to a quarterly  analysis:

   (1)  A 4.0% quarterly Hurdle Rate would be used Vs. a 16.0% annual
        Hurdle Rate.

   (2)  The depreciation method of 'OTHER' must be selected and the percent
        of depreciation to be taken quarterly must be manually entered, e.g.,
        for a 5 year project life, a depreciation rate of 20% per year would
        be entered as 5% per quarter for 20 periods.

 The total number of years (periods) available is 51.

 'Year' is a computer-generated field and cannot be directly modified.





