第八章-财务报表

Chapter 8 Financial Statements New Words and Expressions Financial statements 财务报表 shareholder 股东 balance sheet 资产负债表 asset 资产 liability 负债 owner s equity 所有者权益 shareholders equity 股东权益 current assets 流动资产 fixed assets 固定资产 cash equivalents 现金等价物 tangible assets 有形资产 Intangible assets 无形资产 accounts receivable 应收账款 inventory 存货 current liabilities 流动负债 long term liabilities 长期负债 accounts payable 应付账款 current ratio 流动比率 leverage 杠杆 bankruptcy 破产 income statement 利润表 revenues 收入 expenses 费用 dividends 股利 cost of goods sold 销售成本 gross profit 毛利润 research and development 研发 depreciation 折旧 earnings before interest and tax 息税前利润 retained earnings 留存收益 net profit after taxes 税后净利润 Background What are Financial Statements Financial statements provide an overview of a business or person s financial condition in both short and long term There are three basic financial statements Balance sheet reports on a company s assets liabilities and Ownership equity at a given point in time Typically a company lists its assets on the left side and its debts and liabilities on the right It is important to realize that the balance sheet must balance That is total assets must equal the sum of total liabilities and total owner s equity Each of these sections is usually further divided into subsections Income statement also referred to as Profit and Loss statement or a P investors grow anxious prices fluctuate for no discernible reasons and the trust that is the bedrock of our capital markets is severely tested 如果股票持有人与公司间的信誉关系不稳固 投资者就会增加忧虑 进而导致不明原因的价格 波动 资本市场的根基 信誉将受到严峻地考验 4 When we look at the balance sheet we need to know how to assess the numbers Financial ratios can be calculated from the balance sheet and these help the investor understand the state of liquidity and growth potential of the company in question 在查阅资产负债表时我们需要知道如何评价这些数据 借助于资产负债表中的数据我们可以 计算出财务比率 这些财务指标有助于投资者了解公司在资金的流动性和增长潜力等方面的 情况 5 A balance sheet also known as a statement of financial position reveals a company s assets liabilities and owners equity net worth 资产负债表 通常被认为财务状况变动表 它揭示了公司的资产 负债和所有者权益 净值 6 The income statement covers a specific period of time It is usually