财务报告分析方案研讨.pptxVIP

CHAPTER 15;;5 Identify and compute ratios and describe their purpose and use in analyzing a firm’s liquidity, profitability, and solvency. 6 Understand the concept of earning power and indicate how material items not typical of regular operations are presented. 7 Recognize the limitations of financial statement analysis.; Analyzing financial statements involves Three characteristics of a company: (1) its liquidity流动性, (2) its profitability盈利性, (3 ) its solvency偿付能力. Every item reported in a financial statement has significance.;In order to obtain information as to whether the amount 1 represents an increase over prior years or 2 is adequate in relation to the company’s need for cash, the amount of cash must be compared with other financial statement data. Comparisons can be made on several difference bases – three are illustrated in this chapter: (1) intra-company basis, (2) industry averages, and (3) inter-company basis.;Three commonly used tools are utilized to evaluate the significance of financial statement data. (1) Horizontal analysis 横向分析 (trend analysis) is a technique for evaluating a series of financial statement data over a period of time.;(2) Vertical analysis 纵向分析 is a technique for evaluating financial statement data that expresses each item in a financial statement in terms of a percent of a base amount. (3) Ratio analysis比率分析 expresses the relationship among selected items of financial statement data.;The purpose of horizontal analysis is to determine the increase or decrease that has taken place, expressed as either an amount or a percentage. The recent net sales figures of Sears, Roebuck and Co. are shown above. Given that 1996 is the base year, we can measure all percentage increases or decreases from this base period amount as shown below.;SEARS ROEBUCK’S NET SALES;SEARS ROEBUCK’S NET SALES;RATIO ANALYSIS 比率分析;RATIO ANALYSIS 比率分析;FINANCIAL RATIO CLASSIFICATION;Solvency Ratios 偿付能力比率 Measures of the ability of the enterprise to