财务管理第六章财务报表分析.pptVIP

Basket Wonders’ Common Size Income Statements Index Analyses An analysis of percentage financial statements where all balance sheet or income statement figures for a base year equal 100.0 (percent) and subsequent financial statement items are expressed as percentages of their values in the base year. Basket Wonders’ Indexed Balance Sheets Basket Wonders’ Indexed Balance Sheets Basket Wonders’ Indexed Income Statements Fiscal year ending dec.31, 2003, the assets are listed according to their relative degree of liquidity. Convert into cash within a given billing period. These items are ordered according to the nearness with which they are likely to be paid。 Be payable within one year, equity consists of several subcategory . In exchange for common stock. Cumulative profit after divident Coverage Ratio -- Trend Analysis Comparison Summary of the Coverage Trend Analysis This indicates that low earnings (EBIT) may be a potential problem for BW. Note, we know that debt levels are in line with the industry averages. The interest coverage ratio for BW has been falling since 2001. It has been below industry averages for the past two years. Receivable Turnover应收账款周转率 Receivable Turnover Annual Net Credit Sales Receivables For Basket Wonders December 31, 2003 Indicates quality of receivables and how successful the firm is in its collections. Income Statement / Balance Sheet Ratios Activity Ratios $2,211 $394 = 5.61 (Assume all sales are credit sales.) Activity Ratios Avg Collection Period Days in the Year Receivable Turnover For Basket Wonders December 31, 2003 Average number of days that receivables are outstanding. (or RT in days) Income Statement / Balance Sheet Ratios Activity Ratios 365 5.61 = 65 days Activity Ratio Comparisons BW Industry 65.0 65.7 71.1 66.3 83.6 69.2 Year 2003 2002 2001 Average Collection Period BW has improved the average collection period to that of the industry average. Activity Ratios Payable Turnover (PT) Annual