财务会计教程10E全套配套课件亨格瑞 Accrual Accounting and Financial Statements_12.ppt

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1、FinancialStatementAnalysisCHAPTER12LearningObjectives(LO)Afterstudyingthischapter,youshouldbeabletoLocateandusesourcesofinformationaboutcompanyperformanceAnalyzetheperformanceofacompanyusingtrendanalysis,common-sizefinancialstatementsandsegmentdisclosuresUsebasicfinancialratiostoguideyourthink

2、ingEvaluatecorporateperformanceusingvariousmetrics,includingROA,ROE,andEVACalculateEPSwhenacompanyhaspreferredstockordilutivesecurities2of46LearningObjectives(LO)Afterstudyingthischapter,youshouldbeabletoUnderstandthenatureofirregularitemsandhowtoadjustforthemUsefinancialinformationtohelpasses

3、sacompany’svalue3of46LO1-InformationSourcesCompanyannualreportsinclude:NarrativeinformationaboutthecompanyManagement’sdiscussionandanalysis(MD&A)Theauditor’sreportManagement’sreportonitsresponsibilityforthefinancialstatementsandinternalcontrolsThefinancialstatementsFootnotestothefinancialstate

4、mentswhichincludeasummaryoftheaccountingprinciplesusedComparativefinancialdataforanumberofyears4of46LO1-InformationSourcesSecuritiesandExchangeCommission(SEC)Form10-K(annualreportwithauditedstatements)Form10-Q(quarterlyreport–statementsnotaudited)Form8-K(unscheduledmaterialevents)Othereventson

5、specializedformsOthersourcesofinformation:CompanypressreleasesandwebsitesOutsiderssuchas1)thegeneralfinancialpress,2)tradeandindustrypublications,3)analysts’research5of46LO1-InformationSourcesWhyanalyzefinancialstatements?AllWillthecompanybeinbusinessbeyondoneyearWhataretherisksofnotachievingw

6、hatissoughtInvestor-Predictreturns(dividends/earnings)sincetheyinfluencetheirinvestment’smarketvalueCreditors-Predictreturns(principal,interestontime)Short-termliquidity-meetcurrentpaymentsLong-termsolvency–payoffmaturingdebtOthers(creditors,laborunions,governments,etc.)6of46LO1-InformationSou

7、rcesCaveatstoanalysisItisassumedthepastisagoodpredictorofthefutureComparingyourratiostoothercompanies’ratiosrequiresBothtomakefinancialdataavailabletothepublicGAAPisusedconsistentlyOtherfinancialstatementsusethesameGAAPRatioswerecompute