现金分析的演示.ppt

2020 3 12 CashFlowAnalysis 1 CashFlowAnalysis Session6 天马行空官方博客 2020 3 12 CashFlowAnalysis 2 Thissession HowtocalculateandanalysisacorporationsCashFlowanalysisHowtoevaluatethesolvencyofacompanybasedonitsbalancesheetandcashflows 2020 3 12 CashFlowAnalysis 3 Incaseyoumissedthelastsession Wecovered I EBalanceSheetsThelinkagesbetweenI EandBalanceSheets 2020 3 12 CashFlowAnalysis 4 BusinessChallenges EarnProfitsConvertProfitstoCashasFastasPossible 2020 3 12 CashFlowAnalysis 5 CashFlow FromOperatingActivitiesFromInvestingActivitiesFromFinancingActivities 2020 3 12 CashFlowAnalysis 6 BalanceSheetAssetsCash AccountsReceivable Inventory PrepaidExpenses Property Plant Equipment AccumulatedDepreciation TotalAssetsLiabilities EquityAccountsPayable AccruedOperatingExpenses AccruedInterestPayable IncomeTaxPayable NotesPayable Capitalstock RetainedEarnings TotalLiability Equity CashFlowStatementCashFlowFromOperatingActivitiesNetIncome AccountsReceivableIncrease InventoryIncrease PrepaidExpensesIncrease DepreciationExpense AccountsPayableIncrease AccruedExpensesIncrease IncomeTaxPayable CashFlowformOperatingActivities CashFlowFromInvestingActivitiesPurchasesofProperty Plant Equipment CashFlowsFromFinancingActivitiesShort TermDebtBorrowing Long TermDebtBorrowing CapitalStockIssue DividendsPaidtoStockholders IncreaseinCashforYear BalanceSheet CashFlowInteractions 2020 3 12 CashFlowAnalysis 7 CashFlowFromOperations BalanceSheetlastyear BalanceSheetthisyear Income Expensethisyear ChangesintheBalancesheet closetsplusthedepreciationadjustedincome 2020 3 12 CashFlowAnalysis 8 CashFlowfromOperations Profit thebottomline oftheI EStatement Plus7year to yearchangeadjustments BalanceSheet AccountsreceivableInventoryPrepaidexpensesDepreciationAccountsPayableAccruedExpensesIncomeTaxPayable Cashflow liketheBalanceSheetusesCASHACCOUNTINGNotACCRUALACCOUNTING 2020 3 12 CashFlowAnalysis 9 OperatingCashFlowComments NetIncomeisfromthebottomlineofI EStatement DepreciationAdjusted IncreasesinOperatingAssetsdecreasecashflowfromprofit AR Inventory PrepaidExpenses Increasesinliabilities help cashflow AP AccruedExpenses IncomeTaxPayable 2020 3 12 CashFlowAnalysis 10 GrowthConsumesCa h IncreasingrevenuewithcontrolledexpenseswillresultinincreasedprofitsRevenueincreasesalsodriveincreasesinoperatingassetsCashincreasesarenotaslargeasprofitincreasesbutaredelayedbecauseofARDecliningbusinessesexperienceoppositeeffectandcanexperienceincreased cashflow overprofitchanges 2020 3 12 CashFlowAnalysis 11 Depreciation OperatingCashFlow Depreciation Sincethecompanypaidcashforthefixedassetswhenitboughtthem thecompanydoesnotconsumecashasecondtimewhenitusesthemThedepreciationoftheI EStatementistherefore addedback forcashflowpurposes 2020 3 12 CashFlowAnalysis 12 BalanceSheetAssetsCash AccountsReceivable Inventory PrepaidExpenses Property Plant Equipment AccumulatedDepreciation TotalAssetsLiabilities EquityAccountsPayable AccruedOperatingExpenses AccruedInterestPayable IncomeTaxPayable NotesPayable Capitalstock RetainedEarnings TotalLiability Equity CashFlowStatementCashFlowFromOperatingActivitiesNetIncome AccountsReceivableIncrease InventoryIncrease PrepaidExpensesDecrease DepreciationExpense AccountsPayableIncrease AccruedExpensesIncrease CashFlowformOperatingActivitiesCashFlowFromInvestingActivities PurchasesofProperty Plant EquipmentCashFlowsFromFinancingActivities Short TermDebtBorrowing Long TermDebtBorrowing CapitalStockIssue DividendsPaidtoStockholders IncreaseinCashforYear BalanceSheet CashFlowInteractions 2020 3 12 CashFlowAnalysis 13 PurchasesofProperty Plant Equipment FixedAssetstomodernizeorexpandcapacityWillbecapitalized depreciated 2020 3 12 CashFlowAnalysis 14 TheDepreciationStory Capitalassetsareacashflowoutwhentheassetisbought CashFlow Investing TheboughtassetsareaddedtotheProperty Plant EquipmentlineoftheBalanceSheetTheappropriatedepreciationisallocatedforintheperiodthatitis used ontheI EThesumoftheaccumulateddepreciationsfromtheI EissubtractedfromthepurchasepriceoftheassetsonthebalancesheetTheallocatedI Edepreciationis addedback totheIncomeintheCashFlowanalysis 2020 3 12 CashFlowAnalysis 15 BalanceSheetAssetsCash AccountsReceivable Inventory PrepaidExpenses Property Plant Equipment AccumulatedDepreciation TotalAssetsLiabilities EquityAccountsPayable AccruedOperatingExpenses AccruedInterestPayable IncomeTaxPayable NotesPayable Capitalstock RetainedEarnings TotalLiability Equity CashFlowStatementCashFlowFromOperatingActivitiesNetIncome AccountsReceivableIncrease InventoryIncrease PrepaidExpensesDecrease DepreciationExpense AccountsPayableIncrease AccruedExpensesIncrease CashFlowformOperatingActivitiesCashFlowFromInvestingActivities PurchasesofProperty Plant EquipmentCashFlowsFromFinancingActivities Short TermDebtBorrowing Long TermDebtBorrowing CapitalStockIssue DividendsPaidtoStockholders IncreaseinCashforYear BalanceSheet CashFlowInteractions 2020 3 12 CashFlowAnalysis 16 CashFromFinancingActivities Whenoperatingcashflowsareinsufficienttofundcompanyoperations thefinancedepartmentmustraisecashforthecompanyLoansLineofcredit short termdebt Notes BondsorDebentures long termdebt IssueStockDividendspaidtoStockholdersareconsideredafinancingcashflow 2020 3 12 CashFlowAnalysis 17 IBM2001CashFlow M CashFlowFrom 200120001999Operations14 2659 27410 111Investing 6 106 4 248 1 669 Financing 5 309 6 359 8 625 Exchangeratechanges 83 1470 149 NetChangeinCash2 767 1 480 332 Cashon1 13 5635 0435 375Cashon12 316 3303 5635 043Daysofcash301623 2020 3 12 CashFlowAnalysis 18 IBM2001CashFlowfromOperations M 20002001NetIncome7 7238 093Depreciation4 1954 513AmortizationofSoftware625482Deferredincometaxes65829Gainsonassetsales 317 792 Write downonimpairedinvestments405 Receivables3 284 4 720 Inventories337 55 Otherassets 545 643 Accountspayable 969 2 245OtherLiabilities 1 131 122CashfromOperations14 2659 274 2020 3 12 CashFlowAnalysis 19 IBM2001CashFlowfromInvesting M 20012000Plant rentalmachinesandotherproperty 5 660 5 616 DispositionofPlant rentalmachinesandotherproperty1 1651 619Investmentsinsoftware 655 565 Purchasesofmarketablesecuritiesandotherinvestments 778 750 Proceedsfrommarketablesecuritiesandotherinvestments7381 393Acquisitions 916 329 NetCashusedinInvestingActivities 6 106 4 248 2020 3 12 CashFlowAnalysis 20 IBM2001CashFlowfromFinancing M 20012000Proceedsfromnewdebt4 5359 604Short termborrowings2 926 1 400 Paymentstosettledebt 7 898 7 561 Preferredstocktransactions net 254 Commonstocktransactions net 3 652 6 073 CashDividendspaid 966 929 NetCashUsedinFinancing 5 309 6 359 2020 3 12 CashFlowAnalysis 21 Motorola2000CashFlows CashFlowFrom 200019991998Operations 1 164 2 1401 295Investing 4 091 960 3 079 Financing5 1197881 872Exchangeratechanges 100 33 34NetChangeinCash 236 1 935122Cashon1 13 5371 6021 480Cashon12 313 3013 5371 602DaysofCash334018 2020 3 12 CashFlowAnalysis 22 Motorola2000CashFlowfromOperations M NetIncome1 318Depreciation2 522Chargesforre organization1 483Deferredincometaxes658Acquiredin processR Dcharges332Salesofinvestments businesses 1 570 Deferredincometaxes239Write downonimpairedinvestments405Receivables 1 471 Inventories 2 305 Otherassets 532 Accountspayable 666 OtherLiabilities 514 CashfromOperations 1 164 2020 3 12 CashFlowAnalysis 23 Cooking ControllingdiscretionaryexpensesRepairs maintenanceTraining developmentTravelIncreasingrevenue Stuffingthechannels Lying Fraud gotojail 2020 3 12 CashFlowAnalysis 24 Enronitis EnronDynergyInc ReliantResourcesInc CMSEnergyTycoGEBoeingIBM 2020 3 12 CashFlowAnalysis 25 3KeyFinancialAspectsofaBusiness CashFlowsMaintainingSolvencyProfitability 2020 3 12 CashFlowAnalysis 26 Solvency Again TheCurrentRatio TestofShort TermSolvencyCurrentRatio currentassets currentliabilitiesGeneralRuleofthumb Sh