会计学原理-约翰·J·怀尔德版-上海交通大学-17.ppt

Chapter17,AnalysisofFinancialStatements,ConceptualLearningObjectives,C1:ExplainthepurposeofanalysisC2:IdentifythebuildingblocksofanalysisC3:DescribestandardsforcomparisonsinanalysisC4:Identifythetoolsofanalysis,A1:SummarizeandreportresultsofanalysisA2:Appendix17A:Explaintheformandassessthecontentofacompleteincomestatement,AnalyticalLearningObjectives,P1:ExplainandapplymethodsofhorizontalanalysisP2:DescribeandapplymethodsofverticalanalysisP3:Defineandapplyratioanalysis,ProceduralLearningObjectives,Applicationofanalyticaltools,Involvestransformingdata,Reducesuncertainty,BasicsofAnalysis,C1,Financialstatementanalysishelpsusersmakebetterdecisions.,PurposeofAnalysis,C1,BuildingBlocksofAnalysis,C2,IncomeStatement,BalanceSheet,StatementofStockholdersEquity,StatementofCashFlows,Notes,InformationforAnalysis,C2,StandardsforComparison,C3,HorizontalAnalysis,Time,Comparingacompanysfinancialconditionandperformanceacrosstime.,ToolsofAnalysis,C4,Comparingacompanysfinancialconditionandperformancetoabaseamount,ToolsofAnalysis,VerticalAnalysis,C4,ToolsofAnalysis,C4,Time,Now,letslookatsomewaystousehorizontalanalysis.,HorizontalAnalysis,C4,HorizontalAnalysis,C4,CalculateChangeinDollarAmount,DollarChange,AnalysisPeriodAmount,BasePeriodAmount,=,ComparativeStatements,P1,CalculateChangeasaPercent,PercentChange,DollarChangeBasePeriodAmount,100,=,ComparativeStatements,P1,($11,500$23,500)100=48.9%,$12,000$23,500=$(11,500),P1,P1,TrendAnalysis,Now,letslookattrendanalysis!,P1,Trendanalysisisusedtorevealpatternsindatacoveringsuccessiveperiods.,TrendAnalysis,P1,BerryProductsIncomeInformationFortheYearsEndedDecember31,2001isthebaseperiodsoitsamountswillequal100%.,TrendAnalysis,P1,BerryProductsIncomeInformationFortheYearsEndedDecember31,TrendAnalysis,P1,BerryProductsIncomeInformationFortheYearsEndedDecember31,TrendAnalysis,P1,TrendAnalysis,Wecanusethetrendpercentagestoconstructagraphsowecanseethetrendovertime.,P1,VerticalAnalysis,Now,letslookatsomeverticalanalysistools!,Common-SizeStatements,P2,CalculateCommon-sizePercent,Common-sizePercent,AnalysisAmountBaseAmount,100,=,Common-SizeStatements,P2,($12,000$315,000)100=3.8%,($23,500$289,700)100=8.1%,P2,P2,P2,P2,ThisisagraphicalanalysisofCloverCorporationscommon-sizeincomestatementfor2007.,Common-SizeGraphics,P2,LetsusethefollowingfinancialstatementsforNortonCorporationforourratioanalysis.,RatioAnalysis,RatioAnalysis,P3,P3,P3,P3,CurrentRatio,Acid-testRatio,AccountsReceivableTurnover,InventoryTurnover,DaysSalesUncollected,DaysSalesinInventory,TotalAssetTurnover,LiquidityandEfficiency,P3,UsethisinformationtocalculatetheliquidityandefficiencyratiosforNortonCorporation.,LiquidityandEfficiency,P3,Workingcapitalrepresentscurrentassetsfinancedfromlong-termcapitalsourcesthatdonotrequirenear-termrepayment.,WorkingCapital,P3,Thisratiomeasurestheshort-termdebt-payingabilityofthecompany.,CurrentRatio,P3,QuickassetsareCash,Short-TermInvestments,andCurrentReceivables.,Thisratioislikethecurrentratiobutexcludescurrentassetssuchasinventoriesandprepaidexpensesthatmaybedifficulttoquicklyconvertintocash.,Acid-TestRatio,P3,Thisratiomeasureshowmanytimesacompanyconvertsitsreceivablesintocasheachyear.,AccountsReceivableTurnover,P3,Thisratiomeasuresthenumberoftimesmerchandiseissoldandandreplacedduringtheyear.,InventoryTurnover,P3,Thisratiomeasurestheliquidityofreceivables.,DaysSalesUncollected,=,EndingAccountsReceivableNetSales,365,DaysSalesUncollected,=,$20,000$494,000,365=14.8days,DaysSalesUncollected,P3,Thisratiomeasurestheliquidityofinventory.,DaysSalesinInventory,P3,Thisratiomeasurestheefficiencyofassetsinproducingsales.,TotalAssetTurnover,P3,DebtRatio,EquityRatio,PledgedAssetstoSecuredLiabilities,TimesInterestEarned,Solvency,P3,UsethisinformationtocalculatethesolvencyratiosforNortonCorporation.,Solvency,P3,Thisratiomeasureswhatportionofacompanysassetsarecontributedbycreditors.,DebtRatio,P3,Thisratiomeasureswhatportionofacompanysassetsarecontributedbyowners.,EquityRatio,P3,Thisratiomeasuresthesolvencyofcompanies.,Debt-to-EquityRatio,P3,Thisisthemostcommonmeasureoftheabilityofafirmsoperationstoprovideprotectiontothelong-termcreditor.,TimesInterestEarned,P3,ProfitMargin,GrossMargin,ReturnonTotalAssets,BasicEarningsperShare,BookValueperCommonShare,ReturnonCommonStockholdersEquity,Profitability,P3,UsethisinformationtocalculatetheprofitabilityratiosforNortonCorporation.,Profitability,P3,Thisratiodescribesacompanysabilitytoearnanetincomefromsales.,ProfitMargin,P3,Thisratiomeasurestheamountremainingfrom$1insalesthatislefttocoveroperatingexpensesandaprofitafterconsideringcostofsales.,GrossMargin,P3,Thisratioisgenerallyconsideredthebestoverallmeasureofacompanysprofitability.,ReturnonTotalAssets,P3,Thismeasureindicateshowwellthecompanyemployedtheownersinvestmentstoearnincome.,ReturnonCommonStockholdersEquity,P3,Thisratiomeasuresliquidationatreportedamounts.,BookValueperCommonShare,P3,Thismeasureindicateshowmuchincomewasearnedforeachshareofcommonstockoutstanding.,BasicEarningsperShare(可能要考),P3,Price-EarningsRatio,DividendYield,MarketProspects,P3,UsethisinformationtocalculatethemarketratiosforNortonCorporation.,MarketProspects,P3,Thismeasureisoftenusedbyinvestorsasageneralguidelineingaugingstockvalues.Generally,thehighertheprice-earningsratio,themoreopportunityacompanyhasforgrowth.,Price-EarningsRatio,P3,Thisratioidentifiesthereturn,intermsofcashdividends,onthecurrentmarketpriceofthestock.,DividendYield,P3,NetIncome,ReportingIncomeandEquity,DiscontinuedSegments,ChangesinAccountingPrinciples,ExtraordinaryItems,ContinuingOper