会计报表和财务管理.pptx

会计报表和财务管理第1页/共35页会计学第2页/共35页第1页/共35页会计报表和财务管理会计报表资产负债表，损益表，现金流量表常用会计指标Du Pont Chart流行财务模型介绍EVA & MVA; CAPM & SML;Gorden Model企业兼并Why(Synergy),Which TypesHow(Example,Case Study)第3页/共35页第2页/共35ash7,28257,600AR632,160351,200Inventories1,287,360 715,200 Total CA1,926,8021,124,000Gross FA1,202,950491,000Less: Deprec. 263,160 146,200 Net FA 939,790 344,800Total Assets2,866,5921,468,800Balance Sheet: Assets第4页/共35页第3页/共35ccts payable524,160145,600Notes payable720,000200,000Accruals 489,600 136,000 Total CL1,733,760481,600Long-term debt1,000,000323,432Common stock460,000460,000Retained earnings (327,168) 203,768 Total equity 132,832 663,768Total L&E2,866,5921,468,800Balance Sheet:Liabilities and Equity第5页/共35页第4页/共35ales5,834,4003,432,000COGS5,728,0002,864,000Other expenses680,000340,000Deprec. 116,960 18,900 Tot. op. costs6,524,9603,222,900 EBIT(690,560)209,100Interest exp. 176,000 62,500 EBT (866,560) 146,600Taxes (40%) (346,624) 58,640 87,960 Net income (519,936)Income Statement(P/L Sheet)第6页/共35页第5页/共35页OPERATING ACTIVITIES Net income(519,936)Add (sources of cash): Depreciation116,960 Increase in Accts. Payable378,560 Increase in accruals353,600Subtract (uses of cash): Increase in Accts.Receivable(280,960) Increase in inventories(572,160)Net cash provided by ops.(523,936)Statement of Cash Flow(1997)第7页/共35页第6页/共35页Statement of Cash Flows (1997)L-T INVESTING ACTIVITIES Investment in fixed assets(711,950)FINANCING ACTIVITIES Increase in notes payable520,000 Increase in long-term debt676,568 Payment of cash dividends (11,000) Net cash from financing1,185,568NET CHANGE IN CASH(50,318)Plus: Cash at beginning of year 57,600Cash at end of year 7,282第8页/共35页第7页/共35页The Du Pont system focuses on:Expense control Asset utilizationDebt utilization 第9页/共35页第8页/共35页ROA=Profit margin*Total assets turnoverROE=ROA*Equity multiplierROE=(Profit margin)(Total asset turnover)(Equity multiplier) =Net income/sales*sales/Total Assets*Total assets/Common equity