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1、Chapter10FinancialStatementAnalysisContextforFinancialStatementAnalysis1.Thesizeofthebusiness企业规模2.Thebusinessrisk企业风险3.Theeconomicenvironment经济环境4.Industrytrend,effectsofchangesintechnology行业趋势，技术更新Informationsourcestothebusiness1.Chairman’sstatement主席报告书2.Direc
2、tor’sreport董事会报告3.Thebalancesheet资产负债表4.Statementsofincomeandchangesinequity损益表和所有者权益变动表5.Statementofcashflows现金流量表6.Notestothestatements报表附注7.Auditors’report审计报告8.Externalsources外部信息TechniquesofAnalysisComparisonofFinancialStatementovertime:Asimplecomparisonofth
3、erateanddirectionofchangeovertimecanbedonebothintermsofabsoluteamount(绝对值）andinpercentageterms（百分比）.200520062007Grossprofit$5000$3000$1000100%60%20%RatioAnalysis1.反映偿债能力的财务比率（1）Short-termdebtpayingability(短期偿债能力):Currentratio=currentasset/currentliability流动比率-流动资
4、产/流动负债Quickratio=(currentasset-inventory)/currentliability速动比率=（流动资产-存货）/流动负债（2）Long-termdebtpayingability:长期偿债能力Debtratio=Totalliability/Totalasset负债比率=负债总额/资产总额Timeinterestearnedratio=EBITorEBITDA/Interestcharges利息保障倍数=息税前利润或者息税，折旧摊销前利润（经营净利润）/利息费用2.反映营运效率的财务比率
5、Receivableturnoverratio=Netsales/Averageaccountsreceivable应收账款周转率=收入净额/应收账款平均余额Inventoryturnoverratio=Costofsales/Averageinventory存货周转率=销售成本/存货平均余额Currentassetturnoverratio=Netsales/Averagecurrentassets流动资产周转率=收入净额/流动资产平均余额Fixedassetturnoverratio=Netsales/Average
6、fixedassets固定资产周转率=收入净额/固定资产平均净值3.反映盈利能力的财务比率Grossprofitratio=(Sales-Costofsales)/Sales毛利率=（销售收入-成本）/销售收入Netprofitratio=Netprofit/Sales净利润率=净利润/销售收入Returnonassets=Netprofit/Totalassets总资产报酬率=净利润/总资产Returnonequity=Netprofit/Shareholders’equity权益报酬率=净利润/所有者权益200920
7、10Assets:CurrentAssets:$7,681.00$7,930.00FixedAssets:$3,790.00$4,500.00TotalAssets:$11,471.00$11,830.00Liabilities:CurrentLiabilities:$5,192.00$5,630.00LTDebt&OtherLTLiab.:$971.00$1,071.00Equity:$5,308.00$5,429.00TotalLiab.andEquity:$11,471.00$11,830.00DELLBalanc
8、esheetDellIncomeStatementSales$25,265.00$27,320.00CostsofGoodsSold-$19,891.00-$20,157.00GrossProfit$5,374.00$7,163.00Cashoperatingexpense-$2,761.00-$2,547.00EB
