chap012EquityAnalysisandValuation(财务报表分析-.pptxVIP

Equity Analysis and Valuation12CHAPTERMcGraw-Hill/Irwin? 2004 The McGraw-Hill Companies, Inc., All Rights Reserved. Earnings PersistenceRecasting and Adjusting? Earnings persistence is a key to effective equity analysis and valuation? Analyzing earnings persistence is a main analysis objective? Attributes of earnings persistence include: Stability Predictability Variability Trend Earnings management Accounting methods Earnings PersistenceRecasting and AdjustingTwo common methods to help assess earnings persistence: ? Recasting of income statement ? Adjusting of income statement Earnings Per