财务管理基础综述英文版).ppt

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1、Chapter6FinancialStatementAnalysisAfterStudyingChapter6,youshouldbeableto:Understandthepurposeofbasicfinancialstatementsandtheircontents.Understandwhatismeantby“convergence”inaccountingstandards.Explainwhyfinancialstatementanalysisisimportanttothefirmandtooutsidesuppliersofcapital.D

2、efine,calculate,andcategorize(accordingtoliquidity,financialleverage,coverage,activity,andprofitability)themajorfinancialratiosandunderstandwhattheycantellusaboutthefirm.Define,calculate,anddiscussafirm’soperatingcycleandcashcycle.Useratiostoanalyzeafirm'shealthandthenrecommendreaso

3、nablealternativecoursesofactiontoimprovethehealthofthefirm.Analyzeafirm’sreturnoninvestment(i.e.,“earningpower”)andreturnonequityusingaDuPontapproach.Understandthelimitationsoffinancialratioanalysis.Usetrendanalysis,common-sizeanalysis,andindexanalysistogainadditionalinsightsintoafi

4、rm'sperformance.FinancialStatementsAPossibleFrameworkforAnalysisBalanceSheetRatiosIncomeStatementandIncome/BalanceSheetRatiosTrendAnalysisCommon-SizeandIndexAnalysisFinancialStatementAnalysisTradeCreditors–Focusontheliquidityofthefirm.Bondholders–Focusonthelong-termcashflowofthefir

5、m.Shareholders–Focusontheprofitabilityandlong-termhealthofthefirm.ExamplesofExternalUsesofStatementAnalysisPlan–Focusonassessingthecurrentfinancialpositionandevaluatingpotentialfirmopportunities.Control–Focusonreturnoninvestmentforvariousassetsandassetefficiency.Understand–Focusonun

6、derstandinghowsuppliersoffundsanalyzethefirm.ExamplesofInternalUsesofStatementAnalysisConvergenceofAccountingStandards:AimstonarroworremovedifferencessothatinvestorscanbetterunderstandfinancialstatementspreparedunderdifferentaccountingframeworksIASB–InternationalAccountingStandardsB

7、oardhastheresponsibilityofIFRSIFRS–InternationalFinancialReportingStandards(EUcountriesadopted)USGAAP–USGenerallyAcceptedAccountingPrinciplesdeterminedbyFASBFASB–FinancialAccountingStandardsBoarddeterminesaccountingstandardsforfinancialstatementsGlobalAccountingStandardsIncomeStatem

8、entAsummaryofafirm’