Software Vault: The Gold Collection/Software Vault - The Gold Collection (American Databankers) (1993).ISO/cdr02/pfroix.zip/PFROI1.DOC

Text File | 1993-02-07 | 104KB | 2,138 lines

%%30,3,63%%  %%B-%%

PFROI User Manual - Copyright (C) 1985-1991, Techserve, Inc.

 ┌─────────────IMPORTANT! Read This Before Printing!─────────────────┐
 │ This user manual contains "Box" characters such as surround this  │
 │ text. It also, out of necessity (for examples) contains some lines│
 │ which are 80 characters long.  Your printer must be in an "IBM"   │
 │ mode to print "box" characters, otherwise it will substitute other│
 │ characters in lieu of the "box" characters. If the utility "READ  │
 │ and RUN" (RNR.EXE) is found on this disk use it to view and print │
 │ this manual.  Prior to printing, READ & RUN will query whether    │
 │ whether your printer supports "Box" characters; if not, responding│
 │ with "No" will replace the box characters with spaces during      │
 │ printing.  Second, be sure that your printer can handle 80 char-  │
 │ acter wide output, even after you have set a left margin. If you  │
 │ set a left margin with setup codes, be sure to also set elite or  │
 │ compressed print so as to provide enough columns. If you are not  │
 │ certain about your settings, print this page as a test.  The line │
 │ below should not "wrap around" upon printing. Lastly, this manual │
 │ may have some pages up to 65 lines long. Your printer thus should │
 │ be set to 66 lines/page and have top or bottom margins cleared.   │
 └───────────────────────────────────────────────────────────────────┘
────────────────────────────────────────────────────────────────────────────────

2

Author's Notes
--------------

The product described here is the result of almost five years of
development and refinement. It is my hope that PFROI and its companion
products will enable you to take better control of your financial affairs.
On a broader front, it is also hoped that PFROI will promote the diffusion
of economic power and thereby bring the benefits of the free-market system
to all.  To date, user comments and suggestions have played a significant
role toward improving PFROI and thereby furthering this end.  I invite you
to participate in this process and thank you in advance.

Robert N. Hobbs
Pres., Techserve, Inc.
Bellevue, WA  11/89


Version 3.8 of PFROI shareware incorporates most of the features of PFROI
4.0 including price quote downloading capabilities.  We have, however,
excluded some of the less used reports and utility functions and have
abbreviated this manual so as to permit us to fit everything on a single
360K disk after compression/archiving. Nonetheless, we think you will find
that PFROI V3.8 to be more powerful than any other portfolio manager
priced under $1000 excepting CAPTOOL, CAPTOOL Global Investor, and the
latest registered versions of PFROI. If you have been laboring with one of
those "other" portfolio managers, you may be able to convert your data
using PFROI's data import functions.  See the text file "IMPORT.TXT" for
more details on this process.  Lastly, if you like PFROI V3.8 please pass on
copies to friends, upload copies to BBS's, and of course please register!
Thanks for your support!

R. N. Hobbs  9/92
Pres., Techserve, Inc.
P.O. Box 9
Issaquah, WA 98027 USA
1-800-826-8082

(Note: Above is new address effective January 1993)
3
PFROI User Manual - Copyright (C) 1985-1991, Techserve, Inc.

TABLE OF CONTENTS


Chapter 1 - Introduction                                        7
PFROI Overview                                                  7
Distribution & Registration                                     8
CAPTOOL                                                         9
Caution!                                                        9
Hardware Requirements                                          10
Upgrading From Prior Versions                                  10


Chapter 2 - Getting Started                                    11
Installation                                                   11
Data Backups                                                   11
Starting PFROI                                                 11
PFROI Menu and Command System                                  12
...Files                                                       13
...Help                                                        13
...Path                                                        14


Chapter 3 - PFROI Operations                                   15
PFROI Data Structure                                           15
...Portfolio Files                                             15
...Client Group Files                                          16
...Master (Security) List                                      16
...Price History File                                          16
...Distributions File                                          17
...DataLink File                                               17
...Configuration Files                                         17
Exploring PFROI                                                17
...Loading Portfolio Data                                      17
Transaction Records                                            18
Transaction Edit Functions                                     19
Transaction Data Entry                                         20
Transaction Commands                                           21
Valuation Records                                              24
...Valuation Commands                                          24
Position Records                                               26
Position Edits                                                 27
...Position Non-Edit Fields                                    28
...Alternative Position Displays                               29
...Position Commands                                           31
Valuation Graphics                                             32
Allocation Graphics                                            33
Performance Computations                                       34



4
Reports                                                        38
...Report Output                                               38
...Report Setups                                               38
...Report Contents                                             39
...Report Customization                                        41
Client Group                                                   43
Auxiliary Records                                              44
...Portfolio Configure                                         44
...Tax Rate Records                                            47
...Limit Prices                                                49
...Master (Security) List                                      50
...Group Types                                                 51
...Distribution Records                                        52
...Price History                                               53
PFROI Configurations                                           55
Utilities                                                      56


Chapter 4: PFROI - New Portfolio                               57
Defining the Portfolio                                         57
Deposit/Withdrawal Rules                                       57
Starting the Portfolio                                         59
Omitting Portfolio History                                     59
Tax Rates                                                      60


Chapter 5: PFROI - Transactions                                61
Date Field (Mo/Dy/Yr)                                          61
Transaction Code (TAC)                                         61
...Deposit/Withdrawals                                         62
...Receive/Deliver                                             62
Buy/Sell                                                       63
...Reinvestments                                               65
...Interest Payments                                           66
...Dividend Payments                                           68
...Capital Gains Distributions                                 70
...Return of Capital                                           71
...Splits and Share Dividends                                  72
...Bond Discounts and Premiums                                 74
...Partnerships/Direct Investments                             76
...Other Transactions                                          77
Security Symbol                                                79
Tax Lot Number                                                 79
...FIFO Cost Basis                                             80
...Average Cost Basis                                          80
...Lot-Specific Cost Basis                                     81
...LIFO Cost Basis                                             81
Description Field                                              82
Quantity                                                       82
Amount                                                         82
Sign Assignment                                                83
Estimated Tax                                                  83
Commission and Transaction Fees                                83

5
Chapter 6:  PFROI - Valuations                                 85
Valuation Frequency                                            85
"Create" vs "Review"                                           85
Cash and Position Reconciliation                               86


Chapter 7:  Special Situations                                 87
Individual Retirement Arrangements (IRA's)                     87
Mutual Funds                                                   88
Stock Options (Puts & Calls)                                   89
Employee Stock Options                                         91
Gifts/Inheritance                                              91
Wash and Short Sale Tax Rules                                  92
Exchanges of Securities (Mergers/Divestitures)                 93
Money Market Funds                                             94
Certificates of Deposit                                        94
Zero Coupon Bonds                                              95
Premium Amortization                                           97
Split Shares Received After Sale                               97
Depreciable Assets/Real Estate                                 97
Margin Accounting                                              98
GNMA's/Mortgage Loans                                          99
Safe Deposit Box Shares                                       100
Reverse Splits                                                100
Same-Day Trades                                               100
Dividends/Interest/Splits Same Day as Sale                    100
Commodities                                                   100
Corporate Dividend Reinvestment                               101
Employer Contribution Retirement (401K) Plans                 101


Chapter 8:  Understanding ROI                                 103
Return On Investment                                          103
ROI Annualization                                             104
Short Sale ROI's                                              104
Time-Weighted ROI's                                           104
Beta Statistic Calculation                                    104


Chapter 9:  Datalink Communications                           107
DataLink Overview                                             107
DataLink Access                                               107
DataLink Record                                               107
Log-On Specifications                                         109
Retrieval Specification Records                               112
Position Record Quote Retrieval                               118
Price History Quote Retrieval                                 119
Communication Configuration Specifications                    120

6
Appendix A:  Configurations                                   123
...Color Setups                                               123
...Printer Specifications                                     124
...Communication Parameters                                   126
...Work File Path                                             126
...System MegaHertz                                           126
...System Sound                                               126
...Monographic HiVideo                                        126
...Block Cursor                                               127
...Date Feed                                                  127
...File Backup                                                127
...Base Currency                                              127
...Decimal Type                                               127
...Amount Decimals                                            127
...Date Format                                                127
...Saving Configurations                                      128

Appendix B:  PFROI Trouble-Shooting                           129


7




1 Introduction
────────────────────────────────────────────────────────────



PFROI (regis. tm) Overview
────────────────────────────────────────────────────────────
The PFROI portfolio manager is the result of an effort to
measure portfolio performance in order to effectively set and
meet long range investment goals.  The classical performance
measure for investments in industry is "return on "investment"
or "ROI".  Determining ROI for a portfolio of investments,
however, is non-trivial.  Complicating factors include fluc-
tuating dividend and interest payments, non-uniform security
growth rates, as well as the periodic addition and withdrawal
of portfolio funds.  Taxes further complicate the issue.

It is thus no surprise that many portfolio management software
products either do not address ROI or do not compute it
correctly.  PFROI, however, computes both portfolio and
individual security annualized ROI before and after taxes using
the internal rate of return method. This is the "true" ROI,
effectively weighting for both timing and amount of cash flows.
This is the ROI that the individual investor must focus upon to
achieve wealth and income goals.

In addition to computing ROI, PFROI performs many other
portfolio management functions.  One of the most important of
these is keeping track of investment cost bases for tax
reporting purposes. Without PFROI, this can be a particularly
difficult task, particularly with dividend or interest
reinvestment and multiple purchases and sales.  PFROI solves
this problem, providing four different tax lot methodologies,
saving the user time and money at tax time.

PFROI supports virtually all security types and transactions,
including stocks, bonds, options, CD's, mutual funds, as well
as depreciable assets such as real estate and partnership
interests. PFROI additionally permits you to track investment
commissions and fees and computes estimated taxes used to
determine after-tax return on investment.  PFROI V3.8 provides
over fourteen reports including graphics and user-customizable
reports.

Although security pricing may be entered manually, PFROI
includes a communication module which may be used to download
current or historical security prices from "Dow Jones News
Retrieval Service", "Compuserve Information Service" and other
data services into your portfolio or into a master historical
price list.  PFROI may also import prices from PRODIGY Quote
Track text files and from quote-comma delimited text files.

8
PFROI employs a straight-forward data entry format, uses
menu-driven commands, provides numerous help screens, and
supports output to screen, printer, and text files.


Distribution and Registration
────────────────────────────────────────────────────────────
Full function, "shareware"- designated versions of PFROI may
be distributed on electronic bulletin boards, by shareware
distributors, computer clubs and others. This permits you
"try before buying" so you do not get stuck with expensive
software you can't use.  It also keeps our marketing costs
low, permitting us to offer licensed versions of PFROI and
CAPTOOL at a reasonable price.

PFROI however is NOT "free" or "public domain" software.  To enable
the benefits offered by shareware, you are expected to support
products if you find them useful by making a "regis-tration"
license fee payment to the developer.  PFROI is no different in
this regard.  A PFROI license may be obtained by making payment as
indicated by the registration form on PFROI's opening screen.

In return for your registration you will receive a licensed disk
containing the latest version of PFROI free of open/close "order
forms" and including some features not contained in the shareware.
These include additional /enhanced reports (including unrealized/
realized gains, past due income, relative strength, ROI by security
type, ROI before commission & fees, and additional transaction &
position reports), an additional transaction input format (extends
price time share quantity), additional graphics (moving average
price history graphics, ROI graphics), extended memory utilization,
an automatic tax lot assignment/optimization module, an active
distributions module, enhanced user-interface features (e.g.
"dialogue" style prompts), as well as other features such as
optional output to Lotus compatible ".WKS" files. The registered
disk comes with a 220+ page on-disk or printed, indexed manual.

In the U.S. and Canada, you are permitted and in fact encouraged
to pass unaltered "shareware" or "demo" designated copies of PFROI
on to others for evaluation.  Any charges, however, must be limited
to cost of media, handling, and or BBS communications (Users:
payment of such charges to shareware distributors is NOT regis-
tration and does not support shareware development ... you must
still register if you use beyond trial stage).  Techserve, Inc.
reserves the right, however, to revoke this permission non-retro-
actively from specific parties or all persons in general. This
shouldn't be necessary however, if shareware is supported.

SPECIFIC PROHIBITION: Outside the U.S. and Canada, due to low
support for shareware and due to some laws or legal rulings
attempting to reduce the legal status of "shareware" to that
of "public domain" property, Techserve, Inc. withdraws any
blanket permission to copy and share "shareware"-designated
PFROI.  Those who wish to distribute "shareware" PFROI from
9
such localities must declare in writing to Techserve, Inc.
that Techserve, Inc. "shareware" 1) will not be represented as
"public domain" or its legal equivalent, and 2) will be
represented as software obliging the user to pay the copyright
holder if utilized beyond trial use.  Such distributor must
receive, in return for such declaration, a numbered master
disk along with written authorization from Techserve, Inc. to
distribute software contained on that disk.  Renewal of such
authorization will be dependent upon the level of regis-
trations.  Techserve, inc. may, at its discretion, also grant
approval to authorized distributors to take legal action
against non-authorized distributors within their localities.


CAPTOOL (regis. tm)
────────────────────────────────────────────────────────────
PFROI is also available as part of two higher end products
named "CAPTOOL" and "CAPTOOL Global Investor".  CAPTOOL
incorporates the latest version of PFROI but also supports
batch processing of multiple portfolios, generates
customizable client statements, and computes ROI on multiple
portfolios. CAPTOOL includes stock and bond evaluation
modules, a "TIME-TREND" module which graphs financial ratios,
macro economic statistics and currency exchange rates, and a
client "Prospector" module for investment professionals.

The "CAPTOOL" "Global Investor (tm)" includes all of the PFROI
and CAPTOOL features plus supports multiple-currency port-
folios and permits translation of PFROI report headers and
labels into local languages.  CAPTOOL-GI also incorporates a
pooled investment fund accounting module which simplifies
share accounting for pensions, multi-beneficiary trusts and
investment clubs.  The fund accounting module generates six
reports including ROI report, "client" report and "NAV/Share"
graphics.

CAPTOOL-GI furthermore contains numerous time-saving features
for professionals using it to manage client money.  These
include a "Trade Blotter" for centralized entry of trades
without loading individual portfolios, import capability from
Schwab-Link (tm - Chas. Schwab & Co.) and Shareholder Services
Corp.,  Bear Stearns, and others, mgmt. fee and credit interest
computation, and more.  Contact Techserve, Inc. for details.


CAUTION!
───────────────────────────────────────────────────────────
Although we think PFROI may be useful for most investors, and
we do our best to minimize bugs, we cannot underwrite
everyone's investment decisions or business use of this
product.  Before using this program you should recognize that
it involves a high level of complexity which is potentially
susceptible to error either in the program code itself or on
your part due to incorrect usage. Thus you should understand
that you use and rely upon the results of PFROI at your own
risk.

10
You should satisfy yourself regarding the adequacy and
accuracy of PFROI with test examples before committing to
using and relying upon the program on a regular basis. You
should furthermore review all program output for reason-
ableness before passing it on to your clients or using it to
make investment decisions.


System Requirements
───────────────────────────────────────────────────────────
PFROI requires an IBM PC-compatible computer running PC-DOS or MS-
DOS 2.0 or higher and containing a least 384K-bytes of main memory
(assuming DOS 3.3, and no TSR programs in memory). PFROI may be
run on a system with as little as one 720K floppy disk drive or
two 360K floppy disk drives although operation from a hard disk is
preferred if one is available.

PFROI will run on systems with monochrome, Hercules, CGA, EGA or
VGA display adaptors and monitors. Some combinations of color
display adaptors and monochrome display may require reconfig-
uration of the screen colors to get adequate contrast. Screen
graphics is disabled on systems with non-graphics monochrome
display adaptors.

A Hayes-compatible modem is required for communications and price
downloading. A modem, however, is not mandatory to use PFROI since
security pricing may be keyed-in manually.


Printer Requirements/IBM Character Set
───────────────────────────────────────────────────────────
PFROI supports most types of printers for text output. Graphics
output is supported on most Epson-compatible dot matrix printers
and Hewlett-Packard Laser-Jet II compatible laser printers.
However the "Printer Type" in the "Printer Specs" must be set to
"Laser (&DJ)" in order to print graphics on most laser printers.

Furthermore, in default mode PFROI uses IBM "Box Characters" in
report headers and underlines.  Some printers do not support the
"Box Characters" or may be set in a mode which does not support
the box characters.  In these cases the "Printer Type" must not be
set to "IBM Char", or you must change the printer to a mode which
does support the IBM characters.  See your printer manual.


Upgrading From Prior Versions
────────────────────────────────────────────────────────────
If you are upgrading to this version of PFROI (Ver. 3.8) from
PFROI V3.3 or earlier, you must use the utility program
"PFCONVRT.EXE" to convert your portfolio data files to the new
formats used by PFROI V3.7 or later. Executing PFCONVRT from the
the DOS ">" prompt will provide instructions. Before you start,
be sure you have backup copies of your data files!  PFCONVRT
will be provided to users upon request at registration.

11




2 Getting Started
────────────────────────────────────────────────────────────


Installation
────────────────────────────────────────────────────────────
The PFROI Shareware program is distributed in self-decom-
pressing archive file named "PFROISW.EXE" (or "PFROIXX.EXE"
where XX is the version number). This file may be decompressed
by 1) copying it to your hard disk, and 2) executing it from the
DOS ">" prompt:   > PFROISW<Enter>.  If shareware was obtained
from a shareware distributor rather than being downloaded, there
may be a "INSTALL" program on disk.  Executing INSTALL from the
"A" or "B" prompt will install it a directory named "PFDIR" and
will create an execution batch file named "PFROI.BAT" in the
root directory.


Data Backups (Important!)
────────────────────────────────────────────────────────────
Before your initial run of PFROI it is important to say a word
about data backups. With any program, including PFROI, you
should "backup" copies of your data files to floppy disks or
to a backup tape after each work session. If possible, it is a
good idea to store at least one backup copy of data at a
separate location (e.g. safe deposit box) to protect against
loss due to fire or theft. The easiest way, however, to make
backups is to use DOS's "COPY" command if there are only
several data files, for example:

    C>copy mypf a:/v<Enter>

This copies the portfolio file named "MYPF" to the floppy
disk in the "A" drive.  The "/v" in the command tells DOS to
"verify", or double-check that bytes written to the "A"
drive are identical to the bytes read from the source file.


"$" Backup Files
────────────────────────────────────────────────────────────
As an extra level of protection, PFROI automatically creates
backups of data files whenever they are saved.  This is  done
by renaming the prior version of the file to the same
filename prefix, but with a "$" as the first character in the
file extension, e.g. "MYSTOCKS.$PF" if the primary filename
is "MYSTOCKS.PF".  In general, you should not attempt to load
"$" backup files to perform edits on their data, unless you
have lost or corrupted the primary file.  Because "$" files
reside on the same disk as the primary file they do not
protect you from data loss due to disk failure or erasure, so
do not neglect making backups to floppy disks or tape.


12
Starting PFROI
────────────────────────────────────────────────────────────
Assuming you have performed the installation described on the
preceding pages, to run PFROI, at the DOS ">" prompt type
"PFROI" and hit the "Enter" key:

    C>PFROI<Enter>         {hard disk installation}
          or
    A>PFROI<Enter>         {floppy disk installation}
          or
    B>A:PFROI<Enter>      {two 360K floppy disks, program
                           files on "A" drive, data on "B"}


PFROI's registration form will first appear (on shareware
only, Please register!).  Hit "Esc" to proceed to the main
menu which will appear as follows:

 ╔═══════════════════════════ PFROI (R) 3.8 Shareware ════════════════════════╗
 ║                                                                            ║
 ║                                                                            ║
 ║                 L)  Load Portfolio        G)  Client Group                 ║
 ║                                                                            ║
 ║                 T)  Transactions          A)  Auxiliaries                  ║
 ║                                                                            ║
 ║                 V)  Valuations            C)  Configurations               ║
 ║                                                                            ║
 ║                 P)  Performance           U)  Utilities                    ║
 ║                                                                            ║
 ║                 R)  Reports               Q)  Quit Pfroi                   ║
 ║                                                                            ║
 ║                                                                            ║
 ╠═════════════════════ Alt + File Help Path=C:\CURDIR\ ══════════════════════╣
 ║                                                                            ║
 ║                 >                                                          ║
 ║                                                                            ║
 ╚══════ Copyright (C) 1985-1990, Techserve, inc.  All rights reserved.  ═════╝

If you have a black & white display and find the menu hard to
read, exit ("Q", then "Esc") the program and restart it as
follows at the DOS prompt:  > pfroi mono<Enter>


PFROI Menu and Command System
────────────────────────────────────────────────────────────
Two menus appear on the opening PFROI screen. The top menu is
the "prime" menu.  Selections from this menu are made simply
by keying the key corresponding to the letter in front of the
desired selection.

The second menu is an "Alt-Key" menu. In this menu the avail-
able selections are displayed on a single line in mnemonic
form. You execute the command by depressing the "Alt" key in
combination with the letter key corresponding to the selected
command.

13
PFROI additionally uses the "Esc", "Arrow", "Pgup", "PgDn",
"Ins", "Del", "Home", and "End" keys plus some "Ctrl"-Key
combinations to perform record editing and screen manuevering
functions.

This manual will proceed through the PFROI menus starting with
the "Alt" menu on the opening PFROI screen. Before you begin
entering your own data, we suggest you follow the manual
through the program, trying out the various features using the
default data files which will initially be automatically
loaded by PFROI.


Files

Keying the "Alt+F" key combination "pops-up" a "File
Functions" menu from which data files may be loaded, renamed
or saved, or a file directory viewed. The "File Functions"
sub-menu operates as follows:

  L) "Load" portfolio. Prompts for a new portfolio file to
  load. If the current file has been changed, but not saved,
  you will be prompted for whether you want to save it first.

  D) "Directory" display. Prompts for a directory and file
  specification to search.  The names of all files residing
  in the directory specified and meeting the file specifi-
  cation criteria are displayed. DOS "wildcard" characters "*"
  and "?" may be used in the file specification.  A portfolio
  file may be loaded from the directory by manuevering the
  highlight bar over the file name an hitting the "<Enter>
  "key.  Non-portfolio files will not load.

  V) "saVe" portfolio. Saves currently loaded portfolio to
  disk.

  R) "Rename" file. Permits you to rename a file so that later
  "saVe " operations send the data to the new filename.


14
Help

Executing "Alt+H" or keying the "F1" key from almost any
screen will open a window with help information similar to the
following:

 ┌──────────────────────────────────────────────────────────────────────────┐
 │ The following commands function much the same throughout the program:    │
 │                                                                          │
 │  Esc   - Returns to the previous screen or aborts an operation           │
 │  Arws  - "Arrow" keys on number keypad move the cursor                   │
 │  PgUp  - Pages upward (backward) a page of data at a time                │
 │  PgDn  - Pages downward (forward) a page of data at a time               │
 │  ^PgUp - ("Ctrl" + "PgUp") Moves to start of data                        │
 │  ^PgDn - Moves to end of data                                            │
 │  Ins   - Inserts new record (Ctl+F5 duplicates record)                   │
 │  Del   - Deletes current record (Ctl+F10 bypasses prompt message)        │
 │  Home  - Moves cursor to beginning of field, initiates field edit        │
 │  End   - Moves cursor to end of field, initiates field edit              │
 │  ^Y    - ("Ctrl"+"Y") Clears field                                       │
 │  ^G    - ("Ctrl"+"G") Deletes next word in field                         │
 │  Alt+F - File save, load and directory function sub-menu.                │
 │  Alt+H - Displays help screen (or "F1" key)                              │
 │  Alt+P - Prints out data, "LPT1" is the default output device.  If a     │
 │          filename is used, a disk text file is created.                  │
 │          Output to "SCRN" enables output to be viewed on screen.         │
 │                                                                          │
 │  Other "Alt" commands vary functions depending upon the active screen.   │
 └──Esc, PgUp, PgDn for more..──────────────────────────────────────────────┘


Often there is more than one page of help information avail-
able in a "Help " "Window". This is indicated by the notation
"PgDn" at the lower left border of the window as indicated in
the example above. Use the "PgDn" key to view the additional
help screens. Use the "Esc" key to exit the help screen.


Path

The "Path=" notation on the PFROI opening screen indicates the
path from the root directory to the currently active direc-
tory. Executing the "Alt+P "command enables you to move from
the current directory to another directory. This is useful to
allow loading and saving of data files in directories other
than the directory containing the PFROI program files.

An additional feature of the "Path" command is that it causes
PFROI to look for ".CFG" configure files in the new directory.
If ".CFG" files are found they are loaded, thus effectively
changing the configuration state of PFROI and its sub-modules.
This may be useful for users managing groups of portfolios
requiring differing date, decimal or base currency configura-
tions. In this case you can set up a separate sub-directory
for each group of portfolios and use the "Path" command to
switch between sub-directories while simultaneously loading
the configurations required for each group.
15




3 PFROI Operations
────────────────────────────────────────────────────────────



PFROI Data Structure
────────────────────────────────────────────────────────────
Before proceeding with using PFROI it is useful to understand
how PFROI data is organized.  Eight types of data files are
employed. Each file type contains one or more types of
records.  These file and record types are described here.

Portfolio Files

A portfolio file is the basic data file for PFROI. It contains
all the data pertaining to a single portfolio in the following
types of records:

 Transactions - These records contain a chronological history
 of all activity within a portfolio, e.g. "Buys", "Sells",
 "Dividends", "Splits", "Deposits", "Withdrawals", "Reinvest-
 ment", etc.  These records are generally unique to each
 portfolio and are entered on the "Transaction" record edit
 screen.

 Positions - These records contain a summary of the portfolio
 "position" at a given point in time, e.g. the cash holdings,
 number of shares held of each security, the cost basis,
 valuation, etc.  These records are generated by PFROI on the
 date you specify, using the information contained in the
 transaction records.  Security prices are downloaded,
 imported, or manually entered into the position records.

 Valuations - These records contain position record totals in
 summary form and are used for reference only.

 Tax Rates - These records comprise a table of tax rates which
 are used to compute "estimated taxes" on portfolio income.
 Default tax rates used to initialize tax rate records in a
 new portfolio are stored in an ASCII text file names
 "TAXRATES.STD".

 Target Prices - These records permit specification of "stop-
 loss" or "target" prices for securities held within a
 portfolio.

 Local Configurations - These records contain configurations
 unique to each portfolio file, providing some flexibility in
 customizing the treatment of each portfolio.

There is no "standard" or default filename for portfolio
files. A demonstration portfolio file named "DEMOPF" is
16
provided on the distribution disk. It contains example records
for demonstration purposes. You specify the filename of each
portfolio when it is first created. Filenames may be changed
by exiting to DOS and using the DOS "Rename" command or by
using the PFROI "Rename" file function.


Client Group Files

Client Group files contain a listing of "Client Records" which
are grouped together for batch processing. Client Records
contain the name of each client's portfolio file and
optionally contains the client's name, address, account
number, tax identification number, telephone number and any
brief notes concerning the client. In addition to containing
client information,

The default filename used for client group records is
"CLIENTS.STD". Other filenames may be used, however, and
multiple group files may be created. (Note: Client Group
records were formerly called "Accounts Records", and had a
default filename of "ACCOUNTS.STD" but were renamed to avoid
confusion some users had between the concept of "accounts" and
"portfolios").


Master (Security) List

This file holds "Master Security Records" which contain
security information such as security type, beta value,
industry code, dividend or interest payment dates and amounts,
etc.  This information is utilized by PFROI while it is
generating portfolio position records or creating reports. To
ensure that the "Master List" contains an entry for all
securities held in all portfolios, it may be updated from the
portfolio position records. You may later edit master list
records to add additional information regarding each security.
The default "Master List" filename is "MSTRLIST.STD".

In addition to "Security" records, the "Master List" file also
holds "Group Type" records.  "Group Type" records correlates
user-defined descriptions of security groups with security
"Types", e.g. "S=Common Stocks", "M=Mutual Funds", etc.


Price History File

This file contains chronological records of security pricing
history. These prices may be imported into portfolio position
or batch position records for valuation purposes. The default
"Price History" filename is "PRICES.STD".


17
Distributions File

This file holds a chronological history of "per share"
interest, dividend, share splits, or capital gains distri-
butions for all securities. Portfolios may be configured such
that these records will be accessed and distributions will be
computed and inserted into the portfolio whenever a portfolio
position is generated. The default distribution filename is
"DISTRIBS.STD". Due to size constraints, this feature has
be excluded from PFROI shareware.


DataLink File

This file contains communication "scripts" used for
downloading price information directly into portfolio position
records or into price file records. Modifiable "scripts" are
available for a number of pricing data services. The default
"DataLink" filename is "DLINK.STD".


Configuration Files

Several files are used to store PFROI configuration
information. These files end in ".CFG" and are automatically
loaded upon PFROI startup or whenever the "Path" command is
executed to change the currently active subdirectory.


Exploring PFROI
───────────────────────────────────────────────────────────
The best way to become familiar with the mechanics of
operating PFROI is to go through all the menus and display
screens and try all the commands. This section leads you
through this process.


Loading Portfolio Data

The "Load Portfolio" selection on the main menu is used to
create a new portfolio file, or to load an existing portfolio
file.  A maximum string of 30 characters is accepted as input
in the following format :

   Portfolio file :  d:\path\filename

The drive ("d:" = drive designation) and path may be omitted
if the file is in the current directory.  (See your DOS manual
for use of paths).  The filename may contain up to eight
characters plus a three character extension separated by "."
(e.g. "MYSTOCKS.XYZ").

For this exercise, select "Load Portfolio" and load the demo
portfolio file for practice edits (<Enter>=Enter key) :

   Portfolio file :   DEMOPF<Enter>

18
Notice that after the portfolio is loaded, its name now
appears at the top of the PFROI menu to indicate that this is
now the active portfolio file.

Another method of loading a portfolio is to use the "File"
command ("Alt+F") from the PFROI menu and select the "Direc-
tory" option on the "File" sub-menu. When a listing of the
files in the currently active subdirectory is displayed, use
the arrow keys to manuever the highlighted field over a port-
folio filename.  Upon hitting the "<Enter>" key the file will
load and the display will return to the main menu. If the
highlighted file is not a portfolio file the file will fail
to load.

A third method of loading a portfolio file is to enter the
"Client Group "records and position the cursor upon the
portfolio to be loaded and then execute the "Get Portfolio"
command.

────────────────────────────────────────────────────────────
CAUTION!: Filenames with prefixes greater than eight
characters and/or with file extensions greater than three
characters will be truncated by DOS.

IMPORTANT!: While running PFROI, the default drive and
directory should generally be that containing the portfolio
data and client group files.  If PFROI is on a separate disk
from this data (e.g. PFROI on drive C, data on drive A), you
should generallly switch the default drive/directory to the
data disk prior to starting PFROI.  The program is then
executed by specifying its drive in the run command (e.g.
A>C:PFROI<Enter>).
───────────────────────────────────────────────────────────


Transaction Records
────────────────────────────────────────────────────────────
Select "Transactions" from the main menu to obtain the
transaction editing screen which appears as follows:

              *ALL*****     Transactions: DEMOPF  #0  ($)   siGn=On        258K
Esc  Pg Ins Del Alt+ File Prn Sort Aux Mask Dspl Calc seeK Tot Imp Bal Help
 Mo/Dy/Yr TAC Symbol   -Lot    Description     Quantity    $ Amount   Est. Tax
 == == == === ========= === ================ =========== ============ =========
 12/31/89 SLL FFZCB    -  1 Redeem 1st Fed.         -100     10000.00        -0
 12/31/89 IN+ BRKR*    -    Broker int.                         67.89        19
 12/31/89 TAX          -    C.G. Tax Adj.                                 -1882
 01/03/90 SLL DIA      -  1 Diasonics @4           -1000      3930.00        96
 01/11/90 BUY VWIGX    -    Vngrd World Int'   1449.2754    -15000.00
 01/11/90 BYD VGDMMF$  -    Vngrd MMF              15000    -15000.00
 01/31/90 DRI VGDMMF$  -    MMF reinv             210.97       210.97        59
 01/31/90 IN+ BRKR*    -    Broker Int.                         64.10        18
 02/01/90 BUY XICO     -  2 Xicor Corp @3            600     -1835.00
 02/02/90 DV+ T        -    AT&T div                            90.00        25
 02/28/90 DRI VGDMMF$  -    MMF reinv             232.31       232.31        65
 02/28/90 IN+ BRKR*    -    Broker Int.                         57.32        16

19
Transaction Edit Functions

Transaction records are representive of the type of record
display presented in PFROI. Available edit and command keys
are displayed on the second line of the screen. Executing
these commands requires the use of a single key, such as "Esc"
or "PgUp", or the use of a key combination such as holding
down the "Alt" or "Ctrl" key while striking another key. The
following commands function pretty much the same throughout
the program:

 Esc    - Returns to the previous screen
 Arws   - "Arrow" keys on the number keypad move the cursor
          (blinking underline) in the direction indicated by
          the arrow.
 PgUp   - "Pages" upward ("backward") a page of data at a time.
 PgDn   - "Pages" downward ("forward").
 ^PgUp  - ("Ctrl" plus "PgUp" key) Moves to start of data.
 ^PgDn  - ("Ctrl"+"PgDn" keys) Moves to end of data.
 Ins    - Inserts a new, empty record.
 Del    - Deletes current record. (Ctrl+F10 to suppress prompt)
 Home   - Moves cursor to beginning of a field, initiates
          editing in field.
 End    - Moves cursor to end of field, initiates editing
          within the field.
 ^Y     - ("Ctrl"+"Y" keys) Erases a field.
 ^G     - ("Ctrl"+"G") Erases next word.
 Bksp   - (Backspace key) Erases right to left

Transaction record data entry and editing may be accomplished
by moving the cursor with the cursor control keys (arrow keys)
and entering data. Use the "Home" or "End" keys to initiate
editing of a text field with existing data.

Now try editing transaction records as follows:

 Cursor Movement - Move the cursor around using the "Arrow"
 and "Page "keys on the number keypad as previously described.
 If these do not appear to operate, toggle the "NumLock" key
 on your keyboard.  Try using "Ctrl+PgUp" to go to the top of
 the screen and "Ctrl+PgDn" to go to the bottom of the screen.

 Insert Record - Next, try inserting a record with the "Ins"
 key. Note that the screen scrolls down to make room for the
 new record.  Using the "Ctrl+F5 " key duplicates a record.
 Try this command. It is often useful when entering a series
 of dividends which are identical except for the date.

 Delete Record - To delete a record, hit the "Del" key.
 Responding with "Y" to the "Are you sure?" message deletes
 the record. Using the "Ctrl+F10" combination bypasses the
 "Are you sure?" check. Try deleting the records just
 inserted.


20
Transaction Data Entry

Now, insert a blank record and enter some data, moving the
cursor to start with the first field:

 Mo/Dy/Yr - This field is really three fields.  Key in a date.
 End each entry with the "Enter" key or "Right Arrow" key. Use
 a two digit entry for the year.  Years 51 to 99 are assumed
 to be 1951 to 1999, years 00 to 50 are assumed to be 2000 to
 2050.  (Note: this span can be altered by modifying the
 "Century Base Date" on the configuration screen).

 TAC (TransAction Code) - Before making an entry, note that
 the most commonly used code values are displayed at the
 bottom of the screen when the cursor moves into this field.
 A fuller description is obtained by using the "Alt+H" (help)
 command ("PgDn" for second help page) or by referring to
 Chapter 5 of this manual.  For this exercise enter "BUY" in
 this field.

 ───────────────────────────────────────────────────────────
 ATTENTION!: Be careful when editing TAC's of existing
 records. Changing the TAC's may change the plus/ minus sign
 requirements in the "Quantity" or "Amount" fields.  To be
 safe, delete and re-enter the entire record or at least re-
 enter data in the "Quantity", "Amount" fields to ensure
 proper signs.
 ───────────────────────────────────────────────────────────

 Symbol - This field uniquely identifies an asset in your
 portfolio.  Typically, a security's trading or "ticker"
 symbol is used.  For this exercise enter "ABC".  IMPORTANT!:
 The same symbol may not be used for different securities. Use
 of the Base Currency sign (e.g. "$") as a character within
 the symbol is reserved for securities in which the quantity
 and price are always equal, such as money market funds.

 Lot (Tax Lot Number) - This field is used to match buy and
 sell transactions for determining capital gains cost basis.
 Enter a number (try "2"). Chapter 5 discusses lot number
 usage.

 Description - This field expands to about 30 characters width
 on entry to provide space for a security name and/or a short
 note for a more informative record.  Some additional
 information such as original purchase dates and cost bases
 may also be specified in this field for some records. (see
 Chapter 5 for detail).  Strike the "Home" or "End" keys to
 initiate editing of existing data in this field.

 Quantity - This field holds the number of shares involved in
 a transaction. Enter "100" as a test entry. Note that in this
 case there is no decimal point.  Some transactions however
 involve fractional shares.  This field can accom-modate a
 fractional entry up to four decimal places.  Move the cursor
21
 back to the start of the field and make an entry with a
 fractional portion (e.g. "25.4321") to see what happens.

 Note: Hitting "Esc" while in the middle of a number entry
 field restores the original value in the field.  This feature
 facilitates recovery from an inadvertent data entry.

 Amount - This field contains the net "dollar" (or "yen",
 "marks", or "pounds", etc.) "amount of "a transaction. Try
 entering a value (e.g. 2515.75). Note that when you complete
 the entry, PFROI adds a negative sign. PFROI uses the
 transaction code to determine the sign on all "Quantity" and
 "Amount" entries to avoid user error.  In this case the sign
 is negative because cash flows out of the portfolio when a
 security is bought.  Automatic sign assignment may be
 disabled for some special circumstances by toggling the
 "Alt+G" key combination to set the "siGn" setting to ""Off"".

 Est. Tax - This field may be skipped, with the cursor moving
 on to the first field of the next record if a transaction is
 normally a non-income generating transaction.  A tax amount
 may be entered however if a transaction is income producing.
 When this is done, an "m" appears in the right margin to
 indicate a "manual" tax entry.  Ordinarily, however, the user
 leaves this field blank to be filled in later by PFROI when
 the "autotax-Calc" command is executed ("Alt+C" with cursor
 in "Est. Tax" field).

 Cost/Unit - This non-input field is an alternative to the
 "Est.Tax "field which is displayed when the "Alt+D" key
 combination is toggled.

 Com/Fees - This is a second alternative input field which may
 be viewed and edited by toggling "Alt+D" a second time.  This
 field permits separate tracking of commissions and fees.

Not all transaction types require data in every field. PFROI
will skip over fields not requiring input. To see this, move
to the blank record at the end of the file and enter a
"Deposit Funds" (enter "DPF" in TAC field) transaction. Note
that the "Symbol", "Lot" and "Quantity" fields are skipped in
entering data. Note also that a new blank last record is
appended upon completion of data entry into the current last
record.


Transaction Commands

A number of useful commands are available on the transaction
edit screen as follows:

 Alt+F - accesses File Functions sub-menu from which the
         portfolio "Load", "saVe", "Rename" and directory
         functions may be executed.

22
 Alt+P - Prints transactions between specified dates. If "LPT1"
         or "PRN" is used for the output device then output is
         sent to the printer. If a filename is specified, the
         output is sent to a text file on disk of that name.
         If your printer is not set to take IBM "graphic char-
         acters" see Appendix A, Printer Specs.

 Alt+S - Sorts transactions chronologically.  Transactions
         must be in date order for PFROI reports, position
         generation and ROI calculations to work properly.
         Because of this, PFROI automatically sorts
         transactions before saving a portfolio or before
         exiting the transaction edit screen.

 Alt+A - Auxiliary records.  Displays menu for auxiliary
         records.

 Alt+M - "Masks" records. This is a complex, but very useful
         command. It allows you to isolate records which
         conform to the mask settings which are displayed
         above their applicable field on the first line of the
         screen.  Any combination of three mask settings are
         possible: "TAC", "Symbol", and "Lot".

         The procedure is to first move the cursor to the
         field containing the value to which you wish to set
         the mask and then toggle "Alt+M" to set the mask.
         Toggling "Alt+M" a second time while in the same
         field clears the mask. Try this command using all
         three maskable fields.

         If you insert a new transaction record while
         "Symbol", "TAC" or "Lot" masks are set, the new
         record may be out of date order relative to other
         ""hidden"" transactions.  In this situation, you must
         sort the records before performing other functions.

 Alt+D - Display toggle. Alternates display between three
         formats in the right-most field: "Est. Tax",
         "Cost/Unit" and "Com/Fees".

 Alt+C - Calculate/Capture.  This performs different functions
         as follows depending upon the field in which the
         cursor resides:

         "Description Field" - Retrieves descriptions from the
         "Auxiliary " "Description" field of the Master List
         record of the same security.

         "Amount Field" - Computes accrued or phantom interest
         for discount bonds and premium amortization for bonds
         purchased at a premium.  The cursor must be in the
         "Amount" field of the target record and the maturity
23
         date must be indicated in the description field of
         the original "BUY" or "RCV "transaction.

         "Est. Tax Field" - Calculates estimated taxes using
         rates from the tax rate records.

 Alt+K - seeK transaction.  Searches forward from the current
         transaction, stopping at first occurance of the
         specified symbol.

 Alt+T - subTotal calculation. This is a complex, but useful
         command allowing you to compute numerical field sub-
         totals for groups of transactions. This command
         involves a multi-step procedure as follows:

         1) Optionally set the "Mask" command to isolate the
            security and/or transaction type which you wish to
            "sub-Total".

         2) Move the cursor to the record from which you wish
            the computation to begin. Toggle the "Alt+T" key
            combination to mark the start record.

         3) Move the cursor to the last record you wish to be
            included in the computation. Toggle "Alt+T" a
            second time. A record displaying the subtotals
            will appear.  These records may now be printed
            using the print command.

         4) Toggle "Alt+T" a third time to clear the computation.

         Two variants to the "sub-Total" command may also be
         used.  The "Alt+#" (or "Alt+3") command sub-totals
         only those transactions containing quantity entries.
         It also internally reverses signs as neccessary so as
         to compute the proper cost/unit.  The second variant,
         "Alt+$" (or "Alt+4") sub-totals "cash-only" transac-
         tions so as to get the correct net cash flow for the
         group transactions.

 Alt+I - Imports transactions from a comma-delimited ASCII
         text file of the following format:

         Mo/Dy/Yr,TAC,Symbol,Lot,"Description",Quantity,Amount,Com/Fee,Tax

         It is important that the description field be
         enclosed in double quotes.

         PFROI can also import data directly from text files.
         This allows you to import data you've previously
         entered in other portfolio management software.  See
         the text file "IMPORT.TXT" for details.

 Alt+B - cash Balance.  Displays portfolio cash balance at the
         current transaction.


24
Valuation Records
────────────────────────────────────────────────────────────
You must go through the "Valuation" display to get to the port-
folio "Position " records.  Return to the main PFROI menu (Esc) and
select "Valuations "to get the screen appearing as follows:

          Portfolio Valuation : DEMOPF  Base = 07/02/82   ($)  Tax=Off      258K
Esc  Pg  Alt + File Prn Aux Create Review Delete Base Multi Grfx Imp Help
 Mo/Dy/Yr   $ Value  Mo/Dy/Yr   $ Value  Mo/Dy/Yr   $ Value  Mo/Dy/Yr   $ Value
 == == ==  ========= == == ==  ========= == == ==  ========= == == ==  =========
 07/03/82       1950 03/31/90     358538
 12/31/83      25645.04/30/90     348970
 12/31/84      75419*05/31/90      43913
 12/31/85     130479
 12/31/86     173687
 12/31/87     216023
 03/31/88     223621
 06/30/88     246856
 09/30/88     241177
 12/31/88     238016
 03/31/89     274838
 06/30/89     295293
 09/30/89     342062
 12/31/89     334004
 01/31/90     343052
 02/28/90     348661

The valuation screen cannot itself be edited but indicates the
date and total value of underlying "Position" records. In the
above example display valuations occur yearly and then quarterly
for the most recent years. However you may wish to value your
portfolio monthly when you receive your broker or mutual fund
statements, or perhaps even more frequently by downloading market
price quotes.

Although only 64 valuation dates may be displayed on the valuation
screen at one time, many more valuations may be created and
stored. If you do have more than 64 valuations, the most recent of
these are displayed upon initial entry to the valuation display
screen. "Off-screen" records may be moved "On-screen" by using the
vertical arrow or "PgUp" and "PgDn" keys.

If a "*" is displayed next to a valuation date this means that a
price is missing on the underlying position screen. Use the
"Review" (Alt+R) command to access the position records to add the
price.  If a "." is displayed, this means prior transactions have
been added or edited, thus requiring that the valuation be re-
generated using the Create or Multi-create commands.


Valuation Commands

Valuation records and their underlying Position records can be
created or deleted using the "Create" and "Delete"  commands as
follows:

25
 Alt+F - File functions.  Load, save, and rename
         portfolio files.

 Alt+C - Create Valuation. The "Create" valuation command is
         used to generate a new valuation record and its
         underlying position records.  On executing this
         command you will be prompted for a valuation "Close
         Date". This may be a new date or the date of an
         existing valuation.  You may key-in a new or existing
         date or use the "+" or "-" keys to scroll dates of
         existing valuations into the date input field.

         Upon completing entry of the date, PFROI will
         commence to calculate the portfolio position and cost
         bases on that date. The position and cost base are
         computed starting from either the position which
         exists on the "Base Date" (see top of screen) or from
         the date of the first transaction in the portfolio,
         whichever comes later.

         The time required to compute a new position can be as
         little as several seconds or over a minute, depending
         on the number of transactions to be processed, the
         complexity of the tax lot assignments and the speed
         of your computer.

         Upon completion of computations you will be presented
         with the "Position" record display for market price
         entry. If the position date is that of a previously
         existing valuation the prior "Price", "Type", "Beta",
         and "Description" fields will be preserved. The new
         (or updated) valuation will be displayed upon
         completing entry of prices and exiting (Esc) from the
         position records.

         Try the "Create" valuation command with the DEMOPF
         portfolio.  Be sure to select a date no earlier than
         the first transaction, or else you will get no
         response.

 Alt+D - Delete Valuation. The "Delete" command is used to
         delete excess old valuations and the underlying
         position records. Important!: Do "not" delete a
         valuation just because you need to recompute the
         portfolio position for the date using the "Create"
         command. "Create" will automatically replace the old
         position records while preserving any prices you may
         have previously entered.

Other available valuation commands are as follows:

 Alt+R - Review Position.  This command enables you to review
         and edit prices of position records underlying an
         existing valuation without recomputing the position
         and cost bases. Use this command in lieu of the
         "Create" command only provided transactions prior to
26
         the valuation date have not been edited since the
         valuation was created.

 Alt+B - Base Date. As previously indicated, when the "Create"
         command is executed, the resulting new position is
         computed from either the first transaction in the
         portfolio or from the base date, if the base date is
         later.  Ordinarily the Base Date is set by default to
         be one day prior to the date of the first portfolio
         transaction, ensuring that all transactions are used
         in computing a new position.

         The "Alt+B" command may be used, however, to set a
         base date to the date of a later existing valuation
         in order to reduce the time required to calculate new
         portfolio positions. Be careful (IMPORTANT!) however
         in using the base date command ... the base date must
         be set to a date prior to the date of any new
         valuation to be created, and prior to the date of any
         transactions edits which you wish to be reflected in
         the current valuation.

 Alt+M - Multi-Create - Recomputes positions for all valuations
         starting with the specified valuation date. This is
         useful to quickly update valuations after altering
         prior transactions.

 Alt+G - Valuation Graphics.  This command displays valuation
         graphics.  Upon execution you will be prompted for a
         start dates, which you may choose to be other than
         the first valuations in your portfolio.  Valuation
         graphics are further covered later in this chapter.

 Alt+T - Tax Status toggle.  This command turns the "Tax
         Status" parameter On/Off. When "Tax=On", transaction
         record "Estimated Taxes" are automatically recomputed
         whenever the "Create" position command is executed.

 Alt+I - Import. Used to import data from other portfolio
         software.  See text file "IMPORT.TXT" for details.


Position Records
────────────────────────────────────────────────────────────
Use the "Alt+R" ("Review") command on the valuation screen to
view the security positions and prices underlying an existing
valuation in DEMOPF. When prompted for a date, select one of
the dates shown on the Valuation screen.

The position record screen has four possible display formats.
Whatever format was last displayed when a portfolio file was
27
saved is the format displayed upon reloading. The as-shipped
default position display format appears as follows:

                          03/31/90 Position: DEMOPF  #0                     257K
Esc  Pg  Alt+ Prn Tot Aux Dspl Qprc Sprc dLnk Mst Grph Cxr Xml Inc Hlp
T  Symbol   Descrip    Position  Mkt Price   $ Value     $ Cost     Gains  Val %
= ========= ========= ========== ========= =========== =========== ======= =====
  **CASH***                                   48278.91    48278.91       0   13%

M FMAGX     Fidelity    428.6028     58.60    25116.12    21143.14    3973    7%
M USCRX     USAA Corn  1039.5396     18.61    19345.83    13527.33    5819    5%
M!VGDMMF$   Vangrd Pr   26602.96      1.00    26602.96    26602.96       0    7%
M VWNFX     Vangrd Wi   775.7952     14.30    11093.87    10000.00    1094    3%
M VWIGX     Vangrd Wr  2415.4590     11.39    27512.08    25000.00    2512    8%
M           Mutual Fu                        109670.86    96273.43   13397   31%

S T         AT&T             300     42.00    12600.00     8180.25    4420    4%
S CTUS      Cetus Cor        500     16.00     8000.00     5125.00    2875    2%
S XON       Exxon            700     46.13    32287.50    12110.70   20177    9%
S F         Ford Moto        600     47.25    28350.00     9400.00   18950    8%
S HAL       Halliburt        300     45.37    13612.50     8514.00    5099    4%
S INTC      Intel Cor        375     41.75    15656.25     6071.25    9585    4%
S NIKE      Nike "B"         600     67.75    40650.00     4772.25   35878   11%
S PAC       Pacific T        300     46.50    13950.00     7915.85    6034    4%
S PKD       Parker Dr       1000     10.13    10125.00     3975.00    6150    3%
S XICO      Xicor, In       1000      3.00     3000.00     3795.00    -795    1%
S           Common St                        178231.25    69859.30  108372   50%

T!TNOTED93  TNote##11        100    108.70    10870.00     9948.00     922    3%
T!TNOTEA94  TNote##5/        100    114.87    11487.00     9980.80    1506    3%
T           U.S. Trea                         22357.00    19928.80    2428    6%

            Gr. Total                        358538.02   234340.44  124198  100%

S SP 500    S&P 500               339.9400
S DJ 30     DJ 30                2707.2000
S COMP      NASDAQ                435.5400



Position Edits

Four "Position" record fields may be edited (use horizontal arrows) :

 Type ("T") - This field contains a single user-defined
 character to identify the type of each security (e.g. "S" for
 stocks, "B" for bonds, "M" for mutual funds).  Upon creation
 of a new position PFROI will retrieve the proper "Type" for a
 security from the "Master List". If no entry for that
 security is found, PFROI will use the "Type" found for that
 security in the "Base Date "position records. You must
 manually input a "Type" if none is found in the "Master List"
 or in the "Base Date" position records. Upon executing the
 "Total" command ("Alt+T"), securities of a common type are
 grouped together and sub-totaled.

28
 Description - This field contains a short description of the
 security. This is retrieved from the security's Master List
 record entry, provided such an entry exists, otherwise the
 description is taken from the base date position record for
 the security. If not found in either the Master List or the
 base date position records, the description field is taken
 from the description field of the security's first
 transaction record. The description is truncated at any
 occurance of the character "\" in the source description.

 Price - This field contains market price for the date of the
 position.  Prices may be entered manually in decimal (e.g.
 "11.625") or fractional format (e.g. "11 5/8").  Fractional
 entries will automatically be converted to decimal format.
 Market prices greater than 9999 default to 2 decimal places.
 Prices greater than 999999 default to zero decimal places.

 $ Value - This field is automatically computed on entry of
 market price. A valuation entry may be made however in this
 field causing the associated market price to be back-
 calculated. This is useful to force a valuation to tie out
 exactly to one shown on a broker or mutual fund statement.
 An entry in this field may also be used to enter the value
 of holdings in investments such as 401K type investment
 plans where the total value of the holding is known, but
 price per share is not quoted.

PFROI retains prices, descriptions, and types if an existing
position is re-generated using the "Create" valuation command.
This saves effort if a position must be regen-erated to
incorporate transactions edits.

Try editing the position records.  Use the arrow keys to move
between fields.  Use the "PgDn" or down arrow keys to move
down screen if records run off of the bottom of the screen.
Use "Ctl+PgUp" to return to the top "Position "record.  The
"Total" command ("Alt+T") may be used re-generate totals and
percentages.


Position Non-Edit Fields

Non-edit fields on the position record screen are as
follows:

 Position - This field contains the sum of the number of
 shares or units for the each security.  Fractional shares, if
 they exist, are displayed up to four decimal places. "Short"
 and "Long" positions are computed separately, hence in some
 situations a security may occupy two records on the position
 screen.

 Cost - This field contains the taxable cost base for the
 security.  Purchases and reinvestments increase the cost base
 while sales of shares reduce the cost base.

29
 Gains - This field contains valuation minus the cost base.

 Val % - This field contains the percentage of the entire
 portfolio that the security comprises.  To get correct
 percentages, all prices must be entered and the "Total"
 command "Alt+T" executed.


Alternative Position Displays

Alternative position displays are accessed by toggling the
"Alt+D" key combination. These have additional record fields
as follows:

#1 Gains %. Indicates percentage gain over cost base:

                          03/31/90 Position: DEMOPF  #1                     257K
Esc  Pg  Alt+ Prn Tot Aux Dspl Qprc Sprc dLnk Mst Grph Cxr Xml Inc Hlp
T  Symbol   Descrip    Position  Mkt Price   $ Value     $ Cost     Gains  Gain%
= ========= ========= ========== ========= =========== =========== ======= =====
  **CASH***                                   48278.91    48278.91       0    0%

M FMAGX     Fidelity    428.6028     58.60    25116.12    21143.14    3973   19%
M USCRX     USAA Corn  1039.5396     18.61    19345.83    13527.33    5819   43%
M!VGDMMF$   Vangrd Pr   26602.96      1.00    26602.96    26602.96       0    0%
M VWNFX     Vangrd Wi   775.7952     14.30    11093.87    10000.00    1094   11%
M VWIGX     Vangrd Wr  2415.4590     11.39    27512.08    25000.00    2512   10%
M           Mutual Fu                        109670.86    96273.43   13397   14%

S T         AT&T             300     42.00    12600.00     8180.25    4420   54%
S CTUS      Cetus Cor        500     16.00     8000.00     5125.00    2875   56%
S XON       Exxon            700     46.13    32287.50    12110.70   20177  167%
S F         Ford Moto        600     47.25    28350.00     9400.00   18950  202%
S HAL       Halliburt        300     45.37    13612.50     8514.00    5099   60%
S INTC      Intel Cor        375     41.75    15656.25     6071.25    9585  158%
S NIKE      Nike "B"         600     67.75    40650.00     4772.25   35878  752%
S PAC       Pacific T        300     46.50    13950.00     7915.85    6034   76%
S PKD       Parker Dr       1000     10.13    10125.00     3975.00    6150  155%
S XICO      Xicor, In       1000      3.00     3000.00     3795.00    -795  -21%


30
#2 Income & Yield. Indicates annual dividend or interest
income ($/Yr) and yield percent (Yld %) for the security.
Dividend and interest rates are retrieved from the master
list:
                          03/31/90 Position: DEMOPF  #2                     257K
Esc  Pg  Alt+ Prn Tot Aux Dspl Qprc Sprc dLnk Mst Grph Cxr Xml Inc Hlp
T  Symbol   Descrip    Position  Mkt Price   $ Value     $ Cost      $/Yr  Yld %
= ========= ========= ========== ========= =========== =========== ======= =====
  **CASH***                                   48278.91    48278.91       0    0%

M FMAGX     Fidelity    428.6028     58.60    25116.12    21143.14    2169    9%
M USCRX     USAA Corn  1039.5396     18.61    19345.83    13527.33     738    4%
M!VGDMMF$   Vangrd Pr   26602.96      1.00    26602.96    26602.96       0    0%
M VWNFX     Vangrd Wi   775.7952     14.30    11093.87    10000.00    1047    9%
M VWIGX     Vangrd Wr  2415.4590     11.39    27512.08    25000.00    1039    4%
M           Mutual Fu                        109670.86    96273.43    4993    5%

S T         AT&T             300     42.00    12600.00     8180.25     360    3%
S CTUS      Cetus Cor        500     16.00     8000.00     5125.00       0    0%
S XON       Exxon            700     46.13    32287.50    12110.70    1680    5%
S F         Ford Moto        600     47.25    28350.00     9400.00    1800    6%
S HAL       Halliburt        300     45.37    13612.50     8514.00     300    2%
S INTC      Intel Cor        375     41.75    15656.25     6071.25       0    0%
S NIKE      Nike "B"         600     67.75    40650.00     4772.25     480    1%
S PAC       Pacific T        300     46.50    13950.00     7915.85     564    4%

                             <ESC> to prev. screen

#3 Cost & Beta. Indicates per unit cost ("$/U") as computed
from taxable cost base. Also display's security's "Beta" as
entered in the Master Security List. This field may be edited.

                          03/31/90 Position: DEMOPF  #3                     257K
Esc  Pg  Alt+ Prn Tot Aux Dspl Qprc Sprc dLnk Mst Grph Cxr Xml Inc Hlp
T  Symbol   Descrip    Position  Mkt Price   $ Value     $ Cost      $/U   Beta
= ========= ========= ========== ========= =========== =========== ======= =====
  **CASH***                                   48278.91    48278.91    1.00  0.00

M FMAGX     Fidelity    428.6028     58.60    25116.12    21143.14   49.33  1.00
M USCRX     USAA Corn  1039.5396     18.61    19345.83    13527.33   13.01  0.00
M!VGDMMF$   Vangrd Pr   26602.96      1.00    26602.96    26602.96    1.00  0.00
M VWNFX     Vangrd Wi   775.7952     14.30    11093.87    10000.00   12.89  1.10
M VWIGX     Vangrd Wr  2415.4590     11.39    27512.08    25000.00   10.35  1.10
M           Mutual Fu                        109670.86    96273.43   19.28  0.62

S T         AT&T             300     42.00    12600.00     8180.25   27.27  0.85
S CTUS      Cetus Cor        500     16.00     8000.00     5125.00   10.25  1.45
S XON       Exxon            700     46.13    32287.50    12110.70   17.30  0.00
S F         Ford Moto        600     47.25    28350.00     9400.00   15.67  0.00
S HAL       Halliburt        300     45.37    13612.50     8514.00   28.38  0.90
S INTC      Intel Cor        375     41.75    15656.25     6071.25   16.19  1.45
S NIKE      Nike "B"         600     67.75    40650.00     4772.25    7.95  0.95
S PAC       Pacific T        300     46.50    13950.00     7915.85   26.39  0.90


31
#4 Accrued Interest. Displays interest accrued on bonds since
the last payment was received.  Some users may need this
information for corporate accounting ledger entries and profit
and loss statements.


Position Commands

Commands available on the portfolio position screen are as
follows:

 Alt+P - Print. Prints the current position record to the
         specified output device. If the "Cols" setting in the
         "Printer Specifications" for that device is equal to
         or greater than 96 characters, additional fields will
         be printed. If "Cols" is set equal to or greater than
         112 or 120, then still more fields are printed.

 Alt+T - Total. Causes position records to be grouped by
         "Type", to be sorted by description field within
         type, and to be sub-totaled and totaled in applicable
         fields.

 Alt+A - Auxiliary. Accesses auxiliary records menu, from
         which the "Master List" records may be entered.

 Alt+D - Display. Toggles between alternative position
         displays.  Whatever format was last displayed when a
         portfolio file was saved is the format displayed upon
         reloading.

 Alt+R - Retrieve prices. Prices position records using
         "Close" prices obtained from "Price History Records".
         If price records with the same date as the position
         records are not found, then prices are drawn from
         price records with the next earlier date.

 Alt+S - Send prices. Sends prices from position records to
         price records, creating new price records. If price
         records already exist for a security on the position
         date then the price record is left unchanged.

 Alt+C - Currency exchange rate. (Global version only).
         Retrieves currency exchange rate from currency
         exchange rate records and computes valuation. The
         cursor must be in the exchange rate field.

 Alt+I - Income forecast. Recomputes forecast annual income
         (Position Display #2 only). A notation in the form
         ""@$1.25"" is required in the Master List auxiliary
         description and/or the position record description to
         specify "Per Share" annual income. When the cursor is
         in the "Description" field, this field takes prece-
         dence over the Master List auxiliary description in
         specifying the annual income.

32
 Alt+L - dataLink. Accesses DataLink communication module for
         downloading prices into position records.

 Alt+M - Mask sub-totals. Isolates sub-total records. This is
         useful for providing an asset allocation overview in
         portfolios with a large number of security holdings.

 Alt+G - Graphics. Generates "pie" chart graphics showing
         portfolio allocation. Position graphics are covered
         further later in this chapter.

 Alt+X - eXport. Updates the Master (Security) List by
         creating new records for symbols contained in the
         position records, but not found in the Master List.

When you have finished with your trial position edits and have
tried the above position commands use the "Esc" key to return
to the Valuation screen.  Note that the valuation for the date
just edited has changed to reflect the prices entered.


Valuation Graphics
────────────────────────────────────────────────────────────
Graphics portraying portfolio and security valuation versus
investment may be generated using the "Alt+G" command from the
PFROI valuation screen.  Upon executing the command, you will
be prompted for a "Start Date". This is the date from which
the plot will start.  Use the date of any existing valuation.

The next prompt is for the symbol mask, with the mask
"*ALL*****" used as the default value. Retaining the "ALL"
mask (hit "enter" key) plots results for the entire portfolio.
Specifying the ticker symbol for a particular security in lieu
of "ALL" plots results for just that security.

Valuation display plots may be generated on systems with
either Hercules, or color/graphics displays.

On the resulting screen the line labeled "Val" represents the
total market value of the portfolio at the time indicated on
the horizontal axis.  This portion of the plot is derived from
the portfolio valuations adjusted for mid-period deposit and
withdrawal transactions.  If the plot were for an individual
security, the mid-period adjustments would be for "BUY" and
"SLL" transactions.

The line labeled "Inv" represents the total investment in the
portfolio over time.  In the case of a plot of the entire
portfolio (Symbol="*ALL*****") "investments" are increased by
any deposits into the portfolio ("DPF", "BYD", or "RCV"
transactions) and are decreased by any withdrawals from the
portfolio ("WDF", "SLW" or "DLV" transactions).  In the case
of the plot of an individual security "investments" are
increased by buy and re-investment transactions and are
decreased by sell transactions.

33
Toggling Alt+L replots the graph using a logarithmic scale.
Valuation plots may also be re-generated with "Tax=On" set by
executing the "Alt+T" command once the initial plot is
displayed. When the graphics are plotted with "Tax=On",
estimated taxes on transactions are added to investments. The
rationale for this is that taxes on portfolio income are in
fact an ""investment"" in the portfolio albeit that they earn
no return other than fulfillment of tax obligations.

Valuation plots may be printed once displayed by using the
"Alt+P" command.  Printing of valuation plots requires a
graphics-capable printer and the proper settings in PFROI's
printer specifications.  As shipped, printer graphics setup
codes are configured for an "Epson" type 9-pin printer, which
is compatible with many other 9 and 24-pin printers. This
setting may be modified, however for other printer types
including "HP Laser "compatible printers.

Valuation plot color may be changed by toggling "Alt+C". This
increments the number following the "C=" at the bottom right
of the valuation graphics display and redisplays the plot
using new colors.


Allocation Graphics
────────────────────────────────────────────────────────────
Graphics portraying portfolio allocation by value may be
displayed by executing the "Alt+G" command from the portfolio
"Position" record display screen.

The pie chart segments are filled by colors on EGA and VGA
displays. Toggling the "Alt+F" keys ("Fill" command) re-
plots without color fill. Executing the "Alt+P" command
initiates printing of the pie chart.  If the "Pie" is
"flattened" or "elongated" modify the "aspect ratio" in the
PFROI printer specifications.


34
Performance Computations
────────────────────────────────────────────────────────────
Return on investment is computed on the performance screen.
Select "Performance" from the main PFROI menu to get a
screen appearing as follows:

                               ROI - DEMOPF  ($)
  Alt + Roicalc Clear Help
  Start     End    Symb Mask T SIC Twt   PF Mask    Csh BT ROI % AT ROI %
 ======== ======== ========= = === === ============ === ======== ========
 12/31/83 12/31/89 *ALL***** * *   Off DEMOPF       *    21.4505  18.9068

 Mo/Dy/Yr   $ Value  Mo/Dy/Yr   $ Value  Mo/Dy/Yr   $ Value  Mo/Dy/Yr   $ Value
 == == ==  ========= == == ==  ========= == == ==  ========= == == ==  =========
 07/03/82       1950 03/31/90     358538
 12/31/83      25645 04/30/90     348970
 12/31/84      75419
 12/31/85     130479
 12/31/86     173687
 12/31/87     216023
 03/31/88     223621
 06/30/88     246856
 09/30/88     241177
 12/31/88     238016
 03/31/89     274838
 06/30/89     295293
 09/30/89     342062
 12/31/89     334004
 01/31/90     343052
 02/28/90     348661

The performance screen has two parts. The bottom portion is a
replication of the valuation screen. This indicates to you for
which dates valuations exist.

The top part of the performance screen provides fields for
input of ROI start and end dates. It additionally provides a
number of "mask" fields which permit you to specify what
securities and portfolios are to be included in an ROI
calculation.  A security must "pass" all masks to be included
in the calculation. These fields operate as follows:

 Symb Mask - Symbol Mask.  Permits ROI computation for a
 specific security. When set to "*ALL*****", all securities
 are passed, otherwise only the security with a symbol
 identical to the symbol mask is passed.  DOS wildcard
 characters "*" and "?" may be embedded in the symbol mask
 (except ""ALL"" mask) to compute ROIs for a family of
 securities.

 T - Type Mask. Permits ROI computation for a group of
 securities of the type specified.  When this mask is blank or
 contains "*", all types are passed. If this mask is set and a
 security is not found in the Master List or the type
 specification in the Master List is blank, then the security
 does not pass the mask.

35
 SIC - SIC Mask. Permits ROI computation by "Standard Industry
 Code" as specified for each security in the Master List.
 When this mask is blank or contains "*" all types are passed.
 If this mask is set and a security is not found in the Master
 List or the SIC specification in the master list is blank,
 then the security does not pass the mask.

 Csh - Currency Symbol Mask. Permits ROI computation by
 currency type as specified for each security in the Master
 List.  When this mask is blank or contains "*", all currency
 types are passed. If this mask is set and a security is not
 found in the Master List or the currency specification in the
 Master List is blank, then the security does not pass the
 mask unless the mask is set identical to the base currency
 symbol. This mask is active for the CAPTOOL-"Global" version
 of CAPTOOL only.

 PF Mask - Portfolio mask. Indicates the portfolio to be
 included in the ROI computation. The default portfolio is the
 currently loaded portfolio.  Editing PFmask using DOS
 "wildcard" characters "*" and "?" permits computation of a
 combined ROI for groups of portfolios within the currently
 loaded client file. For example, setting PFmask to "SMITH?.*"
 computes ROI for portfolios "SMITH1.WM", "SMITH2.WIL",
 "SMITH3.BIL", etc., provided they exist in the client
 records.  Setting PFmask to "*.*" computes the combined ROI
 for all portfolios in the client records.  This mask is
 active for CAPTOOL only.

 Twt - This setting turns PFROI's "Time Weighting" feature
 On/Off. When "Time Weighting" is set to "On", PFROI computes
 a "time-weighted" ROI in addition to computing the usual
 "Internal Rate of Return" ROI for the specified period.
 Furthermore, if "Twt=On" and the specified period spans at
 least twelve valuations, PFROI will also compute "Dynamic
 Beta".  The significance of "Time Weighted ROI" and "Dynamic
 Beta" are discussed in Appendices C and E.  Most users will
 want to leave this setting "Off" for a faster ROI computa-
 tion.

Try running some ROI calculations. Specify existing valuation
dates as start and end dates.  If a non-valuation date is
choosen for the start or end date, an estimated interim value
will be computed, thereby reducing the accuracy of the
resulting ROI.  Execute Alt+R to initiate the calculation.

36
Initially try using the first and last valuations. After
entering the end date, execute Alt+R.  There will be some
delay while the computer works. When calculations are
complete, the ROI results are displayed as follows:

  Joe E. Demo                                               1234-1139
  Portfolio=DEMOPF         Symbol=*ALL*****  Type=*  SIC=*    Cash=*

  Valuation on 12/31/83                                      25645.00

  Funds Added                                               113995.98
  Interest Earned                                            17216.84
  Dividends Earned                                           18855.67
  Net Other Income                                               0.00
  U & R Capital Gains                                       158765.54

  Funds Removed                                                  0.00
  Interest Charged                                              11.23
  Dividends Charged                                            464.00

  Valuation on 12/31/89                                     334003.80

  Est. Taxes Paid/Due                                        21713.62

  ROI Before/After Taxes                           21.45%       18.91%

  S&P 500                                                       13.53%
  DJ 30                                                         13.93%
  NASDAQ                                                         8.51%
                 "P" = print...  <ESC> to prev. screen

Note that sources of income are summarized (unrealized and
realized capital gains are combined) and ROI is shown both
before and after taxes.  For an ROI of the entire portfolio as
in the example above "Funds Added" signifies deposit trans-
actions, while "Funds Removed "signifies withdrawal transac-
tions, or the equivalent, such as cashing of dividends or
interest payments.

Also note that ROI is also computed for several security
indices.  This permits comparison with portfolio performance.
However, since most indices do not include dividends, you will
have to mentally adjust for these if you are to make a
meaningful comparision.

To generate an ROI for an individual security, set the symbol
mask to that security's symbol before selecting ROI dates.  It
is again recommended that existing valuation dates be used for
the start and end date. This is the case even if the start
date is prior to the initial purchase of the security or the
end date follows the final sale of the security. In that
situation PFROI will actually initiate the ROI calculation
from the date of first purchase and will terminate it at the
date of final sale.

37
Try running an individual security ROI calculation.  The
results will appear as follows:

   Joe E. Demo                                               1234-1139
   Portfolio=DEMOPF         Symbol=XON        Type=*  SIC=*    Cash=*

   Valuation on 12/31/83                                       7800.00

   Funds Added                                                 8645.70
   Interest Earned                                                0.00
   Dividends Earned                                            8480.00
   Net Other Income                                               0.00
   U & R Capital Gains                                        23579.30

   Funds Removed                                              13505.00
   Interest Charged                                               0.00
   Dividends Charged                                              0.00

   Valuation on 12/31/89                                      35000.00

   Est. Taxes Paid/Due                                         3127.60

   ROI Before/After Taxes                           25.57%       22.84%

   S&P 500                                                       13.53%
   DJ 30                                                         13.93%
   NASDAQ                                                         8.51%
                   "P" = print...  <ESC> to prev. screen

There are several differences between an ROI for an individual
security such as the above and the ROI for an entire portfolio
as shown on the prior page. In particular for an individual
security "Funds Added" signifies buying into the security,
while "Funds Removed" signifies selling out of the security,
or cashing of dividends or interest.  In the case of dividends
or interest, their receipt comprises "removal" of funds
because such payments represent cash flow out of the
particular investment and thus are effectively a disinvestment
in the security. That this is in fact the case can be seen by
observing that the price of a stock typically drops on the day
that the shares become "ex-dividend".

For both the portfolio ROI and the individual security ROI the
category "U & R Capital Gains" represents the combined
unrealized and realized capital gains over the ROI period.
"Realized Capital Gains" are that portion of gain in a
security that was achieved and liquidated during the ROI
period. "Unrealized Capital Gains" are that portion of gain
that was achieved during the ROI period but not liquidated.
You should not try to compare these with the unrealized
appreciation shown on the position reports and realized gains
shown on the capital gains report.  These latter gains are
gains from the time of purchase and thus usually do not
encompass the same time period as the ROI.



38
Reports
────────────────────────────────────────────────────────────
Select "Reports" from the main PFROI menu to obtain the
"Reports" menu as follows:

 ╔═════════════════════════════ Reports - DEMOPF ═════════════════════════════╗
 ║                                                                            ║
 ║                                                                            ║
 ║         A)  Position Change             I)  Other Income Summ.             ║
 ║         B)  Transactions 1              J)  Capital Gains                  ║
 ║         C)  Transactions 2              K)  Cash Flow Forecast             ║
 ║         D)  Portfolio Posit. 1          L)  Portfolio ROI                  ║
 ║         E)  Portfolio Posit. 2          M)  ROI's by Security              ║
 ║         F)  Open Lots Detail            N)  Valuation Plot                 ║
 ║         G)  Dividend Summary            O)  Allocation Plot                ║
 ║         H)  Interest Summary            P)  Client Statement               ║
 ║                                                                            ║
 ║                                                                            ║
 ╠═════════════════════════════ Alt + File Help ══════════════════════════════╣
 ║                                                                            ║
 ║         >                                                                  ║
 ║                                                                            ║
 ╚════════════════════════════════════════════════════════════════════════════╝

                            <ESC> to prev. screen

Report Output

Report text may be output to printer, screen or to disk file.
For printer output, select "LPT1" (or LPT2 or LPT3 if
supported on your PC).  The device "PRN" is assumed to be the
same as "LPT1" with respect to output device configurations.

Screen output may be obtained by using the special PFROI
output device named "SCRN".  If you use "SCRN", the report is
sent to a temporary disk file and is also displayed on the
screen.  The arrow and page keys may be used to scroll through
the report both horizontally and vertically.  The report may
then be sent to the printer with the "Alt+P" command.

If any other non-DOS device name is specified for the "Output
Device", output is sent to a disk file text created using the
specified name.


Report Setups

Upon making a selection from the report menu you will be
prompted for setup information.  Some reports require that a
valuation exist on the "Base " "Date" and/or "Close Date".
Default dates are those for the most recent two valuations.
These dates however may be overridden by entering other
values.

39
"IF VALUATIONS ARE NOT FOUND FOR SPECIFIED DATES, REPORTS
WILL NOT PRINT".  Income reports require a fiscal year-
ending date, with the default setting derived from the
portfolio configuration records (see auxiliary records).


Report Contents

The content of specific reports are as follows. Try these
reports using the "SCRN" output so as to save printer paper:

 Position Change - Gives opening and closing values of cash
 and security position balances in a portfolio. This report
 is intended primarily for use as the opening report on a
 client statement.

 Transactions - Reports opening and closing cash balances
 and intervening transactions for the specified period.
 Three customizable versions of this report are available.

 Portfolio Position - Reports portfolio position on the
 specified valuation date in formats similar to the
 "Position Screen". Four customizable versions of this
 report are available.

 Open Lots - Reports the position, cost base and value of open
 positions in all securities held in the portfolio. Lots
 consisting of a series of FIFO purchases as might be the case
 for dividend and capital gains reinvestments are reported
 with each purchase shown separately (unless a "*" is inserted
 in the Open Lot Report Spec. (see "Report Customization"
 below) in which case lot purchase detail is suppressed).

 Dividend Report - Reports dividends received (long) or paid
 (short) during the specified fiscal period. Dividends with a
 manually entered estimated tax of zero (tax free) are
 reported separately in a "tax-free" category for information.

 Interest Report - Reports interest received (long) or paid
 (short) during the specified fiscal period. Includes
 phantom interest ("PIN "transaction code). Interest with a
 manually input estimated tax of zero (tax free) are
 reported separately for information.

 Other Income - Reports distribution and rent income ("DST"
 and "RNT" transaction codes) received during the specified
 fiscal period.

 Capital Gains - Reports taxable capital gains and capital
 gains distributions occurring in the specified fiscal period.
 Gains are computed according to the type of tax lot assign-
 ment (specific, FIFO or average cost) and are separated into
 short and long term categories according to the holding
 requirments specified in the tax rate records (see "Auxiliary
 Records").

40
 Cash Flow Forecast - Reports a month by month forecast of
 portfolio cash income expected due to dividends, interest and
 bond maturities based upon current portfolio holdings. To
 have a non-zero forecast in this report, a security must
 contain a record in the Master List containing a dividend,
 interest, and/or bond maturity payment date/"per share" rate
 entry in the auxiliary description field.

 Portfolio ROI - Computes and reports the portfolio return on
 investment for the specified period, plus for the previous
 year and for the previous five years or since the inception
 of the portfolio, whichever period is shorter.

 ROI's by Security - Computes and reports ROI for each
 security held in the portfolio on the specified close date
 for the period specified.

 Valuation Plot - Plots the valuation graphics described
 previously.  Output may NOT be sent to "CON", "SCRN" or a
 disk file.

 Allocation Plot - Plots the allocation "Pie Chart" graphics
 which may be generated from the position record screen
 described previously. Output may NOT be sent to "CON", "SCRN"
 or disk file.

 Client Statement - Generates a "client statement" for the
 specified period, comprised of the reports specified in the
 "Client Report" "Spec" setting on the portfolio configuration
 record (see "Auxiliary Records"). (CAPTOOL only).


41
Report Customization

Many of the PFROI reports may be customized by re-ordering,
omitting or adding fields.  For those reports that may be
customized, you may access a customization menu by depressing
the control key "Ctrl" in combination with the selection key
for the applicable report. For example "Ctrl+D" brings up the
following customization screen for "Account Position Report
#1":

 ╔═════════════════  Account Position 1 Report Customization ═════════════════╗
 ║                                                                            ║
 ║         A) T                          P) Accrued                           ║
 ║         B)  Symbol                    Q) Beta                              ║
 ║         C)   Description                                                   ║
 ║         D)  Quantity                                                       ║
 ║         E)  *** Cost                                                       ║
 ║         F) Mkt Price                                                       ║
 ║         G)  *** Value                                                      ║
 ║         H) Val %                                                           ║
 ║         I) ***/Yr                                                          ║
 ║         J) Yld %                                                           ║
 ║         K)  Gains                                                          ║
 ║         L) Gain%                                                           ║
 ║         M) Cost/U                                                          ║
 ║         N) Quote Prc                                                       ║
 ║         O) Xchg R                                                          ║
 ║                                                                            ║
 ║                                                                            ║
 ╠════════════════════════════  Alt + saVe Help  ═════════════════════════════╣
 ║                                                                            ║
 ║         Cur Spec: ABCDEFGHIJKLQ  New Spec:                                 ║
 ║                                                                            ║
 ╚════════════════════════════════════════════════════════════════════════════╝


This screen displays the available fields for this report.
"Cur. Spec." lists the fields currently active in this report
and the order in which they occur.  You may revise this by
making an entry in the entry field labelled "New Spec".

If the sum of the field widths you specify exceed the "Cols"
setting in the "Printer Specification" for the selected output
device, then the report will be truncated to the last field
which fits entirely within the specified width.  "SCRN" width
is the same as specified for disk file output.
42

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