The aim It's not just senior executives who need to know how well their organisation is doing; everyone will benefit from a wider understanding of what an organisation's stock market performance actually means. About the programme The first part of this programme, Profits of doom, looks at what the financial accounts are really saying. Andrew King (Robert Hardy) is offered the chair of Mega. He's ecstatic - until he consults his son, Peter (Jimmy Mulville). As Peter and Andrew pore over the data, Andrew's enthusiasm for Mega's apparently exceptional performance begins to wane. As Peter reveals the truth behind the accounts and explains such concepts as hedging and gearing it becomes clear that Mega has deep-seated problems. In What's good for the shareholder, a bullish Andrew announces that he has investigated Cosmic Corporation and decided to take the chair. Peter agrees the company is sound, but how does Cosmic use its assets? He shows the importance of comparing 'like with like', equalising different ages and financing methods to gain a true picture. Shareholder value Peter also explains shareholder value. This means that Cosmic's shares must earn more than a risk-free investment. After his son's incisive analysis of what shareholders look for, Andrew decides he will no longer be looking at Cosmic. The benefits High profits may mislead Compare returns against real asset values Look at potential, not just past growth Understand hedging and gearing Judge profits against those of similar companies Rising share price may not mean rising shareholder value 'Opportunity cost' will add shareholder value Judge company riskness by its 'Beta' factor Programme includes: Part 1: DVD (30mins), Viewer's Guide Part 2: DVD (30mins), Viewer's Guide