会计学原理原文第18版第十七章.ppt

Chapter17 AnalysisofFinancialStatements ConceptualLearningObjectives C1 ExplainthepurposeofanalysisC2 IdentifythebuildingblocksofanalysisC3 DescribestandardsforcomparisonsinanalysisC4 Identifythetoolsofanalysis A1 SummarizeandreportresultsofanalysisA2 Appendix17A Explaintheformandassessthecontentofacompleteincomestatement AnalyticalLearningObjectives P1 ExplainandapplymethodsofhorizontalanalysisP2 DescribeandapplymethodsofverticalanalysisP3 Defineandapplyratioanalysis ProceduralLearningObjectives Applicationofanalyticaltools Involvestransformingdata Reducesuncertainty BasicsofAnalysis C1 InternalUsers ExternalUsers Financialstatementanalysishelpsusersmakebetterdecisions ManagersOfficersInternalAuditors ShareholdersLendersCustomers PurposeofAnalysis C1 LiquidityandEfficiency Solvency Profitability MarketProspects BuildingBlocksofAnalysis C2 IncomeStatement BalanceSheet StatementofStockholders Equity StatementofCashFlows Notes InformationforAnalysis C2 Tohelpmeinterpretourfinancialstatements Iuseseveralstandardsofcomparison IntracompanyCompetitorIndustryGuidelines StandardsforComparison C3 HorizontalAnalysis Time Comparingacompany sfinancialconditionandperformanceacrosstime ToolsofAnalysis C4 Comparingacompany sfinancialconditionandperformancetoabaseamount ToolsofAnalysis VerticalAnalysis C4 Measurementofkeyrelationsbetweenfinancialstatementitems ToolsofAnalysis RatioAnalysis C4 Time Now let slookatsomewaystousehorizontalanalysis 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 let slookattrendanalysis P1 Trendanalysisisusedtorevealpatternsindatacoveringsuccessiveperiods TrendAnalysis P1 BerryProductsIncomeInformationFortheYearsEndedDecember31 2001isthebaseperiodsoitsamountswillequal100 TrendAnalysis P1 BerryProductsIncomeInformationFortheYearsEndedDecember31 TrendAnalysis P1 BerryProductsIncomeInformationFortheYearsEndedDecember31 Howwouldthistrendanalysislookonalinegraph TrendAnalysis P1 TrendAnalysis Wecanusethetrendpercentagestoconstructagraphsowecanseethetrendovertime P1 VerticalAnalysis Now let slookatsomeverticalanalysistools 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 ThisisagraphicalanalysisofCloverCorporation scommon sizeincomestatementfor2007 Common SizeGraphics P2 Let susethefollowingfinancialstatementsforNortonCorporationforourratioanalysis RatioAnalysis RatioAnalysis P3 P3 P3 P3 CurrentRatio Acid testRatio AccountsReceivableTurnover InventoryTurnover Days SalesUncollected Days SalesinInventory 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 Days SalesUncollected EndingAccountsReceivableNetSales 365 Days SalesUncollected 20 000 494 000 365 14 8days Days SalesUncollected P3 Thisratiomeasurestheliquidityofinventory Days SalesinInventory P3 Thisratiomeasurestheefficiencyofassetsinproducingsales TotalAssetTurnover P3 DebtRatio EquityRatio PledgedAssetstoSecuredLiabilities TimesInterestEarned Solvency P3 UsethisinformationtocalculatethesolvencyratiosforNortonCorporation Solvency P3 Thisratiomeasureswhatportionofacompany sassetsarecontributedbycreditors DebtRatio P3 Thisratiomeasureswhatportionofacompany sassetsarecontributedbyowners EquityRatio P3 Thisratiomeasuresthesolvencyofcompanies Debt to EquityRatio P3 Thisisthemostcommonmeasureoftheabilityofafirm soperationstoprovideprotectiontothelong termcreditor TimesInterestEarned P3 ProfitMargin GrossMargin ReturnonTotalAssets BasicEarningsperShare BookValueperCommonShare ReturnonCommonStockholders Equity Profitability P3 UsethisinformationtocalculatetheprofitabilityratiosforNortonCorporation Profitability P3 Thisratiodescribesacompany sabilitytoearnanetincomefromsales ProfitMargin P3 Thisratiomeasurestheamountremainingfrom 1insalesthatislefttocoveroperatingexpensesandaprofitafterconsideringcostofsales GrossMargin P3 Thisratioisgenerallyconsideredthebestoverallmeasureofacompany sprofitability ReturnonTotalAssets P3 Thismeasureindicateshowwellthecompanyemployedtheowners investmentstoearnincome ReturnonCommonStockholders Equity P3 Thisratiomeasuresliquidationatreportedamounts BookValueperCommonShare P3 Thismeasureindicateshowmuchincomewasearnedforeachshareofcommonstockoutstanding BasicEarningsperShare 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 ChangesinAccountingPrincip