RosseChAccountingStatementsandCashFlow公司理财罗斯七.pptxVIP

会计学1RosseChAccountingStatementsandCashFlow公司理财罗斯七 2-2Chapter Outline2.1 The Balance Sheet2.2 The Income Statement2.3 Net Working Capital2.4 Financial Cash Flow2.5 The Statement of Cash Flows2.6 Summary and Conclusions第1页/共34页 2-32.1 The Balance SheetAn accountant’s snapshot of the firm’s accounting value as of a particular date.The Balance Sheet Identity is: Assets ≡ Liabilities + Stockholder’s EquityWhen analyzing a balance sheet, the financial manager should be aware of three concerns: accounting liquidity, debt versus equity, and value versus cost.第2页/共34页 2-4The Balance Sheet of the U.S. Composite Corporation(in $ millions)20X2 and 20X1Balance SheetU.S. COMPOSITE CORPORATIONLiabilities (Debt)Assets20X220X1and Stockholders Equity20X220X1Current assets:Current Liabilities: Cash and equivalents$140$107 Accounts payable$213$197 Accounts receivable294270 Notes payable5053 Inventories269280 Accrued expenses223205 Other5850 Total current liabilities$486$455 Total current assets$761$707Long-term liabilities:Fixed assets: Deferred taxes$117$104 Property, plant, and equipment$1,423$1,274 Long-term debt471458 Less accumulated depreciation-550-460 Total long-term liabilities$588$562 Net property, plant, and equipment873814 Intangible assets and other245221Stockholders equity: Total fixed assets$1,118$1,035 Preferred stock$39$39 Common stock ($1 per value)5532 Capital surplus347327 Accumulated retained earnings390347 Less treasury stock-26-20 Total equity$805$725Total assets$1,879$1,742Total liabilities and stockholders equity$1,879$1,742The assets are listed in order by the length of time it normally would take a firm with ongoing operations to convert them into cash.Clearly, cash is much more liquid than property, plant and equipment.第3页/共34页 2-5Balance Sheet AnalysisWhen analyzing a balance sheet, the financial manager should be aware of three concerns:Accounting liquidityDebt versus equityValue ver