第三章 财表分析与长期财务规划 思考与练习答案.docVIP

第三章 财务报表分析与长期财务规划 1.由于不同行业的公司在财务比率上存在很大的差异，财务比率本身提供的信息有限，分析公司的财务比率有两种基本方法：时间趋势分析法和同类公司分析。为什么这些方法会有用呢？每种方法能够告诉你哪些关于公司财务健康状况的信息？ 答：时间趋势分析描绘了公司财务状况随时间而变化的图景。通过公司本身的跨期比较分析，财务经理可以评价公司的经营、融资或投资活动的某些方面已经比较分析涉及的财务比率经营。财务经理公司或投资活动的某些方面，从而例如，假设一个公司的流动比率是随时间这可能意味着该公司在过去一直面临流动性问题纠正这些问题或者它可能意味着该公司一个公司流动比率并告诉我们去哪里寻找。 权益乘数是：EM = 1 + D/E EM = 1 + 1.40 = 2.40 计算净资产收益一个公式是：ROE = (ROA)(EM) ROE = .087(2.40) = 20.88% ROE也可以计算如下：ROE = NI / TE 因此，是：NI = ROE(TE)NI = (0.2088)($520,000) = $108,576 17. 为了计算可持续增长率我们需要计算留存比率，留存比率是： b = 1 –0 .25 = 0.75 然后用可持续增长率公式得： 可持续增长率 = (ROE × b) / [1 – (ROE × b)] = [0.19×0.75] / [1 – 0.19×0.75] = 0.1662 或 16.62% 18. a. 可持续增长率为： 可持续增长率= 在这里： b= 留存比率=1-股息支付率=0.65 因此： 可持续增长率= 可持续增长率=0.0585 或者5.85% 20. office, branch offices (jurisdiction), risk management, marketing management sector through supervision and inspection found problems, should be assigned the investigators are corrected in a timely manner. 27th the fifth chapter penalty under any of the following acts, then the relevant provisions to punish the investigators, according to the Bank. To constitute a crime shall be investigated for criminal responsibility: (A) on the business that are not involved in the investigation, issued a survey. (B) customer credit information are not thorough verification. (Iii) to participate in credit customer survey is not in place, customers and data is incomplete, untrue; he knows bear a counterfeited clients issuing credit. (D) does not provide for due diligence of credit business, pre-loan investigation form, concealing facts or providing false information or should be found in a normal investigation failed to discover the risk factors, lead to the review and approval policy errors, loan risk. (Five) on loan guarantees of survey not in place, not by provides on arrived, and pledge real for field verification, and assessment, and identification and registration, not according to provides on guarantor of guarantees qu