chapter4foundationsofratioandfinancialanalysis资料.pptVIP

Chapter 4 Foundations of Ratio and Financial Analysis INTRODUCTION 1. Purpose and use of ratio analysis firms of different sized（不同规模的公司） a profile of a firm （characteristics） Four broad ratio categories: (1)Activity analysis（营运能力） (2)Liquidity analysis （流动性/短期偿债能力） (3)Long-term debt and solvency analysis （长期偿债能力） (4)Profitability analysis（盈利能力） 2. Ratio analysis: cautionary notes (1)Economic assumptions Proportionality（比例）assumption fixed costs (2)Benchmarks Optimal levels（最优水平） Industry（行业） norms as benchmarks. (3)Timing and window dressing only at specific points in time seasonal busi