财务报表分析 英文
课程简介与教学大纲
《财务报表分析》课程简介华南理工大学本科课程教学大纲《财务报表分析》教学大纲总学时：32理论课学时：24 案例教学课学时：8一、课程的性质《财务报表分析》是金融学专业的选修课程，用于提高金融学专业本科生专业知识的应用能力。
二、课程的目的与教学基本要求本课程的目的:加深对财务报表的理解，掌握运用财务报表分析和评价企业经营成果和财务状况的方法，基本具备通过财务报表评价过去和预测未来的能力，以及帮助利益关系集团改善决策的能力。
通过财务报表分析的学习，培养学生分析问题和解决问题的能力，为胜任企业财务、会计管理工作和进行财务、会计理论研究打下扎实的理论基础。
基本教学要求：1、熟悉财务分析的基本概念，掌握财务报表分析的基本方法；2、能对资产负债表进行质量、趋势、结构分析；3、能对利润表进行质量、趋势、结构分析；4、能对现金流量表进行质量、趋势、结构分析；5、掌握偿债能力分析的方法和步骤；6、掌握企业营运能力分析的方法和步骤；7、掌握企业盈利能力分析的方法和步骤；8、掌握企业发展能力分析的方法和步骤；9、掌握企业非会计报表信息的利用和分析；10、会对企业的财务进行综合分析和评价。
三、课程适用专业金融学专业。
四、课程的教学内容、要求与学时分配（一）理论教学第一章财务分析概论【教学目的】了解财务分析的有关概念，掌握财务分析的基本方法，为以后财务报表的指标分析打下基础。
【教学内容】第一节财务分析的基本概念第二节财务信息第三节财务分析的程序和方法【教学要求】1、了解财务分析的目的、内容和评价基准的含义；2、了解财务信息的供给和需求的主体和财务信息的内容；3、掌握会计信息的质量特征；4、掌握财务分析的基本方法。
第二章资产负债表解读【教学目的】学会如何解读资产负债表提供的信息内容。
【教学内容】第一节资产负债表质量分析第二节资产负债表趋势分析第三节资产负债表结构分析【教学要求】1、了解资产负债表各个项目提供的信息内容，所涉及的会计核算方法及其局限性；2、掌握比较资产负债表和定比资产负债表分析方法；3、掌握共同比资产负债表和资产负债表结构分析方法。
财务报表分析中英文对照外文翻译文献
中英文对照外文翻译文献(文档含英文原文和中文翻译)原文：ANALYSIS OF FINANCIAL STATEMENTSWe need to use financial ratios in analyzing financial statements.—— The analysis of comparative financial statements cannot be made really effective unless it takes the form of a study of relationships between items in the statements. It is of little value, for example, to know that, on a given date, the Smith Company has a cash balance of $1oooo. But suppose we know that this balance is only -IV per cent of all current liabilities whereas a year ago cash was 25 per cent of all current liabilities. Since the bankers for the company usually require a cash balance against bank lines, used or unused, of 20 per cent, we can see at once that the firm's cash condition is exhibiting a questionable tendency.We may make comparisons between items in the comparative financial statements as follows:1. Between items in the comparative balance sheeta) Between items in the balance sheet for one date, e.g., cash may be compared with current liabilitiesb) Between an item in the balance sheet for one date and the same item in the balance sheet for another date, e.g., cash today may be compared with cash a year agoc) Of ratios, or mathematical proportions, between two items in the balance sheet for one date and a like ratio in the balance sheet for another date, e.g., the ratio of cash to current liabilities today may be compared with a like ratio a year ago and the trend of cash condition noted2. Between items in the comparative statement of income and expensea) Between items in the statement for a given periodb) Between one item in this period's statement and the same item in last period's statementc) Of ratios between items in this period's statement and similar ratios in last period's statement3. Between items in the comparative balance sheet and items in the comparative statement of income and expensea) Between items in these statements for a given period, e.g., net profit for this year may be calculated as a percentage of net worth for this yearb) Of ratios between items in the two statements for a period of years, e.g., the ratio of net profit to net worth this year may-be compared with like ratios for last year, and for the years preceding thatOur comparative analysis will gain in significance if we take the foregoing comparisons or ratios and; in turn, compare them with:I. Such data as are absent from the comparative statements but are of importance in judging a concern's financial history and condition, for example, the stage of the business cycle2. Similar ratios derived from analysis of the comparative statements of competing concerns or of concerns in similar lines of business What financialratios are used in analyzing financial statements.- Comparative analysis of comparative financial statements may be expressed by mathematical ratios between the items compared, for example, a concern's cash position may be tested by dividing the item of cash by the total of current liability items and using the quotient to express the result of the test. Each ratio may be expressed in two ways, for example, the ratio of sales to fixed assets may be expressed as the ratio of fixed assets to sales. We shall express each ratio in such a way that increases from period to period will be favorable and decreases unfavorable to financial condition.We shall use the following financial ratios in analyzing comparative financial statements:I. Working-capital ratios1. The ratio of current assets to current liabilities2. The ratio of cash to total current liabilities3. The ratio of cash, salable securities, notes and accounts receivable to total current liabilities4. The ratio of sales to receivables, i.e., the turnover of receivables5. The ratio of cost of goods sold to merchandise inventory, i.e., the turnover of inventory6. The ratio of accounts receivable to notes receivable7. The ratio of receivables to inventory8. The ratio of net working capital to inventory9. The ratio of notes payable to accounts payableIO. The ratio of inventory to accounts payableII. Fixed and intangible capital ratios1. The ratio of sales to fixed assets, i.e., the turnover of fixed capital2. The ratio of sales to intangible assets, i.e., the turnover of intangibles3. The ratio of annual depreciation and obsolescence charges to the assetsagainst which depreciation is written off4. The ratio of net worth to fixed assetsIII. Capitalization ratios1. The ratio of net worth to debt.2. The ratio of capital stock to total capitalization .3. The ratio of fixed assets to funded debtIV. Income and expense ratios1. The ratio of net operating profit to sales2. The ratio of net operating profit to total capital3. The ratio of sales to operating costs and expenses4. The ratio of net profit to sales5. The ratio of net profit to net worth6. The ratio of sales to financial expenses7. The ratio of borrowed capital to capital costs8. The ratio of income on investments to investments9. The ratio of non-operating income to net operating profit10. The ratio of net operating profit to non-operating expense11. The ratio of net profit to capital stock12. The ratio of net profit reinvested to total net profit available for dividends on common stock13. The ratio of profit available for interest to interest expensesThis classification of financial ratios is permanent not exhaustive. -Other ratios may be used for purposes later indicated. Furthermore, some of the ratios reflect the efficiency with which a business has used its capital while others reflect efficiency in financing capital needs. The ratios of sales to receivables, inventory, fixed and intangible capital; the ratios of net operating profit to total capital and to sales; and the ratios of sales to operating costs and expenses reflect efficiency in the use of capital.' Most of the other ratios reflect financial efficiency.B. Technique of Financial Statement AnalysisAre the statements adequate in general?-Before attempting comparative analysis of given financial statements we wish to be sure that the statements are reasonably adequate for the purpose. They should, of course, be as complete as possible. They should also be of recent date. If not, their use must be limited to the period which they cover. Conclusions concerning 1923 conditions cannot safely be based upon 1921 statements.Does the comparative balance sheet reflect a seasonable situation? If so, it is important to know financial conditions at both the high and low points of the season. We must avoid unduly favorable judgment of the business at the low point when assets are very liquid and debt is low, and unduly unfavorable judgment at the high point when assets are less liquid and debt likely to be relatively high.Does the balance sheet for any date reflect the estimated financial condition after the sale of a proposed new issue of securities? If so, in order to ascertain the actual financial condition at that date it is necessary to subtract the amount of the security issue from net worth, if the. issue is of stock, or from liabilities, if bonds are to be sold. A like amount must also be subtracted from assets or liabilities depending upon how the estimated proceeds of the issue are reflected in the statement.Are the statements audited or unaudited? It is often said that audited statements, that is, complete audits rather than statements "rubber stamped" by certified public accountants, are desirable when they can be obtained. This is true, but the statement analyst should be certain that the given auditing film's reputation is beyond reproach.Is working-capital situation favorable ?-If the comparative statements to be analyzed are reasonably adequate for the purpose, the next step is to analyze the concern's working-capital trend and position. We may begin by ascertaining the ratio of current assets to current liabilities. This ratioaffords-a test of the concern's probable ability to pay current obligations without impairing its net working capital. It is, in part, a measure of ability to borrow additional working capital or to renew short-term loans without difficulty. The larger the excess of current assets over current liabilities the smaller the risk of loss to short-term creditors and the better the credit of the business, other things being equal. A ratio of two dollars of current assets to one dollar of current liabilities is the "rule-of-thumb" ratio generally considered satisfactory, assuming all current assets are conservatively valued and all current liabilities revealed.The rule-of-thumb current ratio is not a satisfactory test ofworking-capital position and trend. A current ratio of less than two dollars for one dollar may be adequate, or a current ratio of more than two dollars for one dollar may be inadequate. It depends, for one thing, upon the liquidity of the current assets.The liquidity of current assets varies with cash position.-The larger the proportion of current assets in the form of cash the more liquid are the current assets as a whole. Generally speaking, cash should equal at least 20 per cent of total current liabilities (divide cash by total current liabilities). Bankers typically require a concern to maintain bank balances equal to 20 per cent of credit lines whether used or unused. Open-credit lines are not shown on the balance sheet, hence the total of current liabilities (instead of notes payable to banks) is used in testing cash position. Like the two-for-one current ratio, the 20 per cent cash ratio is more or less a rule-of-thumb standard.The cash balance that will be satisfactory depends upon terms of sale, terms of purchase, and upon inventory turnover. A firm selling goods for cash will find cash inflow more nearly meeting cash outflow than will a firm selling goods on credit. A business which pays cash for all purchases will need more ready money than one which buys on long terms of credit. The more rapidly the inventory is sold the more nearly will cash inflow equal cash outflow, other things equal.Needs for cash balances will be affected by the stage of the business cycle. Heavy cash balances help to sustain bank credit and pay expenses when a period of liquidation and depression depletes working capital and brings a slump in sales. The greater the effects of changes in the cycle upon a given concern the more thought the financial executive will need to give to the size of his cash balances.Differences in financial policies between different concerns will affect the size of cash balances carried. One concern may deem it good policy to carry as many open-bank lines as it can get, while another may carry only enough lines to meet reasonably certain needs for loans. The cash balance of the first firm is likely to be much larger than that of the second firm.The liquidity of current assets varies with ability to meet "acid test."- Liquidity of current assets varies with the ratio of cash, salable securities, notes and accounts receivable (less adequate reserves for bad debts), to total current liabilities (divide the total of the first four items by total current liabilities). This is the so-called "acid test" of the liquidity of current condition. A ratio of I: I is considered satisfactory since current liabilities can readily be paid and creditors risk nothing on the uncertain values of merchandise inventory. A less than 1:1 ratio may be adequate if receivables are quickly collected and if inventory is readily and quickly sold, that is, if its turnover is rapid andif the risks of changes in price are small.The liquidity of current assets varies with liquidity of receivables. This may be ascertained by dividing annual sales by average receivables or by receivables at the close of the year unless at that date receivables do not represent the normal amount of credit extended to customers. Terms of sale must be considered in judging the turnover of receivables. For example, if sales for the year are $1,200,000 and average receivables amount to $100,000, the turnover of receivables is $1,200,000/$100,000=12. Now, if credit terms to customers are net in thirty days we can see that receivables are paid promptly.Consideration should also be given market conditions and the stage of the business cycle. Terms of credit are usually longer in farming sections than in industrial centers. Collections are good in prosperous times but slow in periods of crisis and liquidation.Trends in the liquidity of receivables will also be reflected in the ratio of accounts receivable to notes receivable, in cases where goods are typically sold on open account. A decline in this ratio may indicate a lowering of credit standards since notes receivable are usually given to close overdue open accounts. If possible, a schedule of receivables should be obtained showing those not due, due, and past due thirty, sixty, and ninety days. Such a, schedule is of value in showing the efficiency of credits and collections and in explaining the trend in turnover of receivables. The more rapid the turnover of receivables the smaller the risk of loss from bad debts; the greater the savings of interest on the capital invested in receivables, and the higher the profit on total capital, other things being equal.Author(s): C. O. Hardy and S. P. Meech译文：财务报表分析A.财务比率我们需要使用财务比率来分析财务报表，比较财务报表的分析方法不能真正有效的得出想要的结果，除非采取的是研究在报表中项目与项目之间关系的形式。
财务报表分析英文版第十一版课程设计 (2)
Financial Statement Analysis Course Design IntroductionThe Financial Statement Analysis Course is designed to provide students with the necessary skills to analyze financial statements. The course focuses on understanding financial statement data to evaluate a company’s financial performance and make informed investment decisions. This course design version is the eleventh edition and contns the latest developments in the field.Course OutcomesBy the end of the course, students will be able to:•Understand the basics of financial statement analysis, including the mn financial statements, financial ratios, andcommon size statements.•Interpret financial statements to evaluate a company’s financial health and performance.•Analyze the financial position, profitability, liquidity, and solvency of a company using financial ratios.•Understand the limitations and constrnts of financial ratios.•Make informed investment decisions based on financial statement analysis.CurriculumModule One: Introduction to Financial Statement AnalysisThis module provides an introduction to the course and an overviewof the basics of financial statement analysis. Students will learn the purpose of financial statements and the differences between the income statement, balance sheet, and statement of cash flows.Module Two: Financial RatiosThis module covers financial ratios and their relevance in financial statement analysis. Students will learn how to calculate different types of financial ratios, including liquidity ratios, profitability ratios, and solvency ratios.Module Three: Common Size StatementsThis module explns common size statements and their use in financial analysis. Students will learn how to create and use common size statements to compare companies of different sizes.Module Four: Financial Statement Analysis in PracticeThis module discusses different practical situations where financial statement analysis is useful. Students will learn how to apply financial statement analysis in evaluating mergers and acquisitions, bankruptcy, and financial fraud.AssessmentAssessment is divided into two parts:•Midterm and final exams•Individual projectThe individual project requires students to analyze the financial statements of a publicly traded company and write a report with their findings. The report should include an analysis of financial ratios, common size statements, and a comprehensive evaluation of the company’s financial health and performance.ConclusionFinancial statement analysis is a crucial skill for anyoneinterested in investment analysis. The Financial Statement Analysis Course Design ms to provide students with the knowledge and skills necessary to perform financial analysis in practice. Students who successfully complete the course will gn a valuable set of skills to apply in their future professional careers.。
财务报表分析(英文版)
A. Measuring Business Incomea. explain why financial statements are prepared at the end of the regular accounting period.Major Financial Statements:∙The balance sheet: provides a "snapshot" of the firm's financial condition.∙The income statement: reports on the "performance" of the firm.∙The statement of cash flows: reports the cash receipts and cash outflows classified according to operating, investment and financing activities.∙The statement of stockholder's equity: reports the amounts and sources of changes in equity from transactions with owners.∙The footnotes of the financial statements: allow uses to improve assessment of the amount, timing and uncertainty of the estimates reported in the financial statements.The most accurate way to measure the results of enterprise activity would be to measure them at the time of the enterprise's eventual liquidation. Business, government, investors, and various other user groups, however, cannot wait indefinitely for such information. If accountants did not provide financial information periodically, someone else would.The periodicity or time period assumption simply implies that the economic activities of an enterprise can be divided into artificial time periods. These time periods vary, but the most common are monthly, quarterly, and yearly.The information must be reliable and relevant. This requires that information must be consistent and comparable over time and also be provided on a timely basis. The shorter the time period, the more difficult it becomes to determine the proper net income for the period. A month's results are usually less reliable than a quarter's results, and a quarter's results are likely to be less reliable than a year's results. Investors desire and demand that information be quickly processed and disseminated; yet the quicker the information is released, the more it is subject to error. This phenomenon provides an interesting example of the trade-off between relevance and reliability in preparing financial data.In practice, financial reporting is done at the end of the accounting period.Accounting periods can be any length in time. Firms typically use the year as the primary accounting period. The 12-month accounting period is referred to as the fiscal year. Firms also report for periods less than a year(e.g. quarterly) on an interim basis.∙Accounting period must be of equal length. Financial statements are prepared at the end of the regular accounting period to allow comparison across time.User CommentsPosted by Jeanette @ 2003-10-25 14:15:45.same period --- allow comparisionbasic assumption in preparing financial statements is ---- the firm will continue in operation,--- going concern,'assigning revenue - expenses ---- base on matching principlePosted by GiGi @ 2004-01-29 06:25:01.remember that there are 4 types of financial statementsb. explain why the accounts must be adjusted at the end of each period.Why?∙Most external transactions are recorded when they occur. The employment of an accrual system means that numerous adjustments are necessary before financial statements are prepared because certain accounts are not accurately stated.∙Some external transactions might not even seem like transactions and are recognized only at the end of the accounting period. Examples include unrecorded revenues and credit purchase.∙Some economic activities do not occur as the result of external transactions. Examples include depreciation and the expiration of prepaid expenses.∙Timing: Often a transaction affects the revenue or expenses of two or more accounting periods. The related cash inflow or outflow does not always coincide with the period in which these revenue or expense items are recorded. Thus, the need for adjusting entries results from timing differences between the receipt or disbursement of cash and the recording of revenue or expenses. For example, if we handle transactions on a cash basis, only cash transactions during the year are recorded. Consequently, if a company's employees are paid every two weeks and the end of an accounting period occurs in the middle of these two weeks, neither liability nor expense has been recorded for the last week. To bring the accounts up to date for the preparation of financial statements, both the wage expense and the wage liability accounts need to be increased.A necessary step in the accounting process, then, is the adjustment of all accounts to an accrual basis and their subsequent posting to the general ledger.Adjusting entries are therefore necessary to achieve a proper matching of revenues and expenses in the determination of net income for the current period and to achieve an accurate statement of the assets and equities existing at the end of the period.Adjustment principles∙The revenue recognition principle∙The matching principleWhat to adjust?Each adjusting entry affects both a real account (assets, liability, or owner's equity) and a nominal or income statement account (revenue or expense). The four basic types of adjusting entries are:1.deferred expenses that benefits more than one period: for example,prepaid expenses (e.g. prepaid insurance, rent) are expenses paid in advance and recorded as assets before they are used or consumed.When these assets are consumed, expenses should be recognized: a debit to an expense account and a credit to an asset account. Another example is depreciation. The cost of a long-term asset is allocated as anexpense over its useful life. At the end of each period depreciation expense is recorded through an adjusting entry: a debit to a depreciation expense account and a credit to an accumulated depreciation account (a contra account used to total the past depreciation expenses on specific long-term assets).2.accrued expenses that incurred but not yet paid or recorded: examplesare employee salaries and interest on borrowed money. At the end of the accounting period, the accrued expense is recorded through an adjusting entry: a debit to an expense account (i.e. Salaries Expense) and a credit to a liability account (i.e. Salaries Payable).3.accrued revenues that earned but not yet received or recorded: also calledunrecorded revenues. Examples include interest revenues, rent revenues, etc. Such revenues accumulate with the passing of time, but the firm may have not received the payment or billed the client. An adjusting entry should be: a debit to an asset account (i.e. Accounts Receivable) and a credit to a revenue account (i.e. Interest Revenue).4.unearned revenues that are revenues received in cash before delivery ofgoods/services: examples are magazine subscription fees, customer deposits for services. These "revenues" are not earned yet and thus should be recorded as liabilities. An adjusting entry should be: a debit to a liability account (i.e. Unearned Revenue) and a credit to a revenue account (i.e. Revenue).User CommentsPosted by GiGi @ 2004-01-29 06:26:22.accrual system!!! definitionPosted by Gina @ 2004-02-03 22:17:33.accrual based accounting recognizes the impact of a business event as it occurs, regardless of whether transaction affected cashPosted by Gina @ 2004-02-03 22:20:20.Revenue Principle: basis for recording revenues (ie tells when to record revenue and the amounts).Matching Principle: basis for recording expensis (ie direction to ID all expenses during the period, measure them, and match them against the revenues earned in that period).c. explain why the accrual basis of accounting produces more useful income statements and balance sheets than the cash basis.Revenue is something earned through the sale of goods or services. Not all cash receipts are revenues; for example, cash received through a loan is not revenue. Expenses are the cost of goods or services used to generate revenues. Not all cash payments are expenses; for example, cash dividends paid to stockholders are not expenses. Net income is the difference between revenues and expenses. It is reported on the income statement, and is the focus in evaluating a firm's profitability.Most companies use the accrual basis accounting, recognizing revenue when it is earned (the goods are sold or the services performed) and recognizing expenses in the period incurred, without regard to the time of receipt or payment of cash. Net income is revenue earned minus expenses incurred.Under the strict cash basis accounting, revenue is recorded only when the cash is received and expenses are recorded only when the cash is paid. Net income is cash revenue minus cash expenses. The matching principle is ignored here, resulting inconformity with generally accepted accounting principles.Today's economy is considerably more lubricated by credit than by cash. And the accrual basis, not the cash basis, recognizes all aspects of the credit phenomenon. Investors, creditors, and other decision makers seek timely information about an enterprise's future cash flows. Accrual basis accounting provides this information by reporting the cash inflows and outflows associated with earnings activities as soon as these cash flows can be estimated with an acceptable degree of certainty. Receivables and payables are forecasters of future cash inflows and outflows. In other words, accrual basis accounting aids in predicting future cash flows by reporting transactions and other events with cash consequences at the time the transactions and events occur, rather than when the cash is received and paid. Accrual accounting generally provides a better indication of performance than cash basis of accounting since it increases the comparability of income statements and balance sheets across periods.B. Financial Reporting and Analysisa. define each asset and liability category on the balance sheet and prepare a classified balance sheet.Think of the balance sheet as a photo of the business at a specific point in time. It presents the assets, liabilities, and the equity ownership of a business entity as of a specific date.∙Assets are the economic resources controlled by the firm.∙Liabilities are the financial obligations that the firm must fulfill in the future.Liabilities are typically fulfilled by payment of cash. They represent the source of financing provided to the firm by the creditors.∙Equity Ownership is the owner's investments and the total earnings retained from the commencement of the firm. Equity represents the source of financing provided to the firm by the owners.Balance sheet accounts are classified so that similar items are grouped together to arrive at significant subtotals. Furthermore, the material is arranged so that important relationships are shown.The table below indicates the general format of balance sheet presentation: Balance Sheet ClassificationsAssets Liabilities and Owner's EquityCurrent Assets Current liabilitiesLong-term investments Long-term debtProperty, plan and equipment Owner's equityIntangible assets Capital stockOther assets Additional paid-in capitalRetained earningsCurrent Assets:They are cash and other assets expected to be converted into cash, sold, or consumed either in one year or in the operating cycle, whichever is longer. The operating cycle is the average time between the acquisition of materials and supplies and the realization of cash through sales of the product for which the materials and supplies were acquired. The cycle operates from cash through inventory, production, and receivables back to cash. Where there are several operating cycles within one year, the one-year period is used. If the operating cycle is more than one year, the longer period is used.Current assets are presented in the balance sheet in order of liquidity. The five major items found in the current asset section are:∙Cash:valued at its stated value. Cash restricted for purpose other than payment of current obligations or for use in current operations should be excluded from the current asset section.∙Marketable securities: Also referred to as marketable securities. Valued at cost or lower of cost and market.∙Accounts receivables:amounts owed to the firm by its customers for goods and services delivered. Valued at the estimated amount collectible.∙Inventories: Products that will be sold in the normal course of business.∙Prepaid expenses: they are expenditures already made for benefits (usually services) to be received within one year or the operating cycle, whichever is longer. Typical examples are prepaid rent, advertising, taxes, insurance policy, and office or operating supplies. They are reported at the amount of un-expired or unconsumed cost.Long-Term Investments:Often referred to simply as investments, they are to be held for many years, and are not acquired with the intention of disposing of them in the near future.∙Investments in securities such as bonds, common stock, or long-term notes that management does not intend to sell within one year.∙Investments in tangible fixed assets not currently used in operations, such as land held for speculation.∙Investments set aside in special funds such as a sinking fund, pension fund, or plant expansion fund. The cash surrender value of life insurance is included here.∙Investments in non-consolidated subsidiaries or affiliated companies. Property, Plant, and Equipment:They are properties of a durable nature used in the regular operations of the business. With the exception of land, most assets are either depreciable (such as building) or consumable.Intangible Assets:They lack physical substance and usually have a high degree of uncertainty concerning their future benefits. They include patents, copyrights, franchises, goodwill, trademarks, trade names, secret processes, and organization costs. Generally, all of these intangibles are written off (amortized) to expense over 5 to 40 years.Other Assets:They vary widely in practice. Examples include deferred charges (long-term prepaid expenses), non-current receivables, intangible assets, assets in special funds, and advances to subsidiaries.Current Liabilities:They are obligations that are reasonably expected to be liquidated either through the use of current assets or the creation of other current liabilities within one year or within the operating cycle, whichever is longer. They are not reported in any consistent order. A typical order is: Notes payable, accounts payable, accrued items (e.g. accrued warranty costs, compensation and benefits) income taxes payable, current maturities of long-term debt, etc.The excess of total current assets over total current liabilities is referred to as working capital. It represents the net amount of a company's relatively liquid resources; that is, it is the liquid buffer, or margin of safety, available to meet the financial demands of the operating cycle.Long-Term LiabilitiesThey are obligations that are not reasonably expected to be liquidated within the normal operating cycle but, instead, at some date beyond that time. Bonds payable, notes payable, deferred income taxes, lease obligations, and pensionobligations are the most common long-term liabilities. Generally they are of three types:∙Obligations arising from specific financing situations, such as issuance of bonds, long-term lease obligations, and long-term notes payable.∙Obligations arising from the ordinary operations of the enterprise such as pension obligations and deferred income tax liabilities.∙Obligations that are dependent upon the occurrence or non-occurrence of one or more future events to confirm the amount payable, or the payee, or the date payable, such as service or product warranties and other contingencies.Owner's Equity:The complexity of capital stock agreements and the various restrictions on residual equity imposed by state corporation laws, liability agreements, and boards of directors make the owner's equity section one of the most difficult sections to prepare and understand. The section is usually divided into three parts:∙Capital stock: the par or stated value of the shares issued.∙Additional paid-in capital: the excess of amounts paid in over the par or stated value.∙Retained earnings: the corporation's undistributed earnings.b. define each component of a multi-step income statement and prepare a multi-step income statement.The income statement measures the success of business operations for a given period of time. A single-step income statement groups revenues together and expenses together, without further classifying each of the groups. A multi-step income statement makes further classifications to provide additional important revenue and expense data. These classifications make the income statement more informative and useful. It is recommended because:∙it recognizes a separation of operating transactions from non-operating transactions;∙it matches costs and expenses with related revenues;∙it highlights certain intermediate components of income that are used for the computation of ratios used to assess the performance of the enterprise.Components:∙Operating section: a report of the revenues and expenses of the company's principal operations.o Sales or revenue section: a subsection presenting sales, discounts, allowances, returns, and other related information, and to arrive atthe net amount of sales revenue.o Cost of goods sold section:a subsection that shows the cost of goods that were sold to product the sales.o Selling expense: a subsection that lists expenses resulting from the company's efforts to make sales.o Administrative or general expenses: a subsection reporting expenses of general administration.Non-operating section: a report of revenues and expenses resulting from secondary or auxiliary activities of the company. In addition, special gains and losses that are infrequent or unusual, but not both, are normally reported in this section. Generally these items break down into two main subsections:o Other revenues and gains: A list of the revenues earned or gains incurred, generally net of related expenses, from non-operatingtransactions.o Other expenses and losses: A list of the expenses or losses incurred, generally net of any related incomes, from non-operatingtransactions.∙Income taxes: A short section reporting federal and state taxes levied on income from continuing operations.∙Discontinued operations: material gains or losses resulting from the disposition of a segment of the business.∙Extraordinary items: Unusual AND infrequent material gains and losses.∙Cumulative effect of a change in accounting principle.∙Earnings per share.C. Short-Term Liquid Assetsa. describe how to choose the appropriate accounting method for investment securities and explain how fair (market) value gains and losses on such investments are reported.Short-term investments, also called marketable securities,ordinarily consist of short-term paper (certificates of deposit, treasury bills, and commercial paper), marketable debt securities (government and corporate bonds), and marketable equity securities (preferred and common stock) acquired with cash not immediately needed in operations.They must be:∙readily marketable: can be sold quite easily.∙intended to be converted into cash as needed within one year or the operating cycle, whichever is longer.Securities that are intended to be held for more than one year are called long-term investments.There are two types of gains and losses:∙Realized gains and losses: the difference between the fair market value and the cost of the securities when they are sold.∙Unrealized holding gains and losses:the difference between the fair market value and the cost of the securities when they are still held by the firm. The gains and losses are unrealized because securities have not been sold.In general:∙When securities are purchased, they are recorded at cost. The cost of the securities includes purchase price and any broker's fees or fees paid to acquire securities.∙Interest and dividends generally are recognized as revenue when they are received.∙When securities are sold, the cost is compared to the sales price, and the difference is recorded as a gain or a loss.∙At the end of each accounting period, the balance of the controlling account is adjusted to reflect the current market value of the securities owned.However, different categories of investment securities have different treatment on unrealized holding gains and losses.∙Held-to-maturity securities:Debt securities that management intends to hold to their maturity date. At year end, they are reported at cost adjusted for the effect of interest (debit the securities account and credit interest income account), and unrealized holding gains and losses are not recognized.Trading securities: Debt and equity securities bought and held mainly for sale in the near term to generate income on price changes. At year end, they are reported at their fair market value. Any unrealized holding gains or losses are recognized on the firm's income statement as part of the net income. When they are sold, the realized gains or losses will also appear on the income statement. Realized gains and losses are not affected by any unrealized gains or losses recognized before.Example:1.12/1/2002, 100 shares purchased at $80 per share for tradingpurposes:Entry: Trading Securities 8000(Debit) | Cash 8000 (Credit)2.12/31/2002, the price is $60 per share.Entry: Unrealized Loss on Investments 2000 (Debit) | Allowance to Adjust Short-Term Investments to Market 2000 (Credit).The allowance account is shown on the balance sheet as a contra-asset account:Trading Securities (at cost) 8000Allowance Account (2000)Trading Securities (at market) 6000The $2000 unrealized loss is reported in the income statement for 2002.3.06/12/2003, 100 shares sold at $120 per share.Entry: Cash 12000 (Debit) | Trading Securities 8000 (Credit) | Realized Gain on Investment 4000 (Credit)The $4000 realized gain is reported in the income statement of 2003.Available-for-sale securities:Debt and equity securities not classified as held-to-maturity or trading securities. The unrealized gains and losses are reported in the balance sheet as an adjustment to the shareholders' equity (in contrast, the unrealized gains or losses of trading securities are reported in the income statement as part of the net income). Other than that, they are accounted for in the same way as trading securities. Example:1.12/1/2002, 100 shares purchased at $80 per share for tradingpurposes:Entry: Available-for-Sale Securities 8000(Debit) | Cash 8000 (Credit)2.12/31/2002, the price is $60 per share.Entry: Unrealized Loss on Investments 2000 - Equity (Debit) | Allowance to Adjust Short-Term Investments to Market 2000 (Credit).The allowance account is shown on the balance sheet as a contra-asset account:Available-for-Sale Securities (at cost) 8000Allowance Account (2000)Available-for-Sale Securities (at market) 6000The $2000 unrealized loss is reported in the balance sheet for 2002 as a component of stockholder's equity.3.06/12/2003, 100 shares sold at $120 per share.Entry: Cash 12000 (Debit) | Trading Securities 8000 (Credit) | Realized Gain on Investment 4000 (Credit)The $4000 realized gain is reported in the income statement of 2003. User CommentsPosted by shasha @ 2003-11-15 04:02:09.AFS (available-for-sale) is kind of short-term investment, however, its market value change should be adjusted to the equity as well.Posted by Gina @ 2004-02-12 01:51:11.AFS can be short or long-term. Since they are reported on the balance sheet at market value, this reporting needs to be adjusted from their last carrying amount to current market value.The unrealized gain or loss is reported in 2 places:(1) Income statement - under 'Other comprehensive income' (net of tax) [but not as part of net income];(2) OE - prehensive income - unrealized gain on investments (net of tax).善待自己，学会放弃，得而不喜，失而不烦，弃而不悔，多一份执着和自信，添一份洒脱和从容，才是潇洒快乐的人生！善待自己，学会原谅。
财务报表分析英文课件
Examines the purchase and redemption of treasury stock and its impact on the financial statements
Income statement analysis
Revenue Recognition
Examining the methods and timelines of revenue recognition to ensure it complies with Generally Accepted Accounting Principles (GAAP)
Distinguishing between direct and indirect costs to better understand the impact of each on the capability of specific products or services
Direct vs. Indirect Costs
Investment in Property, Plant, and Equipment: This category includes cash outflows related to the purchase of fixed assets, such as property, plant, and equipment
四大财务报表中英文对照
四大财务报表中英文对照《四大财务报表 Financial Statements》财务报表是反映企业财务活动及财务状况的重要工具，通常包括资产负债表、利润表、现金流量表和股东权益变动表。
四大财务报表在中文和英文中有如下对照：1. 资产负债表（Balance Sheet）资产负债表是一张表格，用来呈现企业在特定日期的资产、负债和股东权益的情况。
资产负债表的结构如下：资产 = 负债 + 股东权益Assets = Liabilities + Equity2. 利润表（Income Statement）利润表是用来展示企业在特定期间内的收入、成本和利润情况。
利润表主要包括营业收入、营业成本、营业利润和净利润等项目。
利润表的结构如下：营业收入 - 营业成本 = 营业利润Operating Revenue - Operating Expenses = Operating Income3. 现金流量表（Cash Flow Statement）现金流量表是用来汇总企业特定期间内的现金流入和现金流出情况，以及现金的净增加或净减少情况。
现金流量表主要包括经营活动、投资活动和筹资活动产生的现金流量情况。
现金流量表的结构如下：经营活动 + 投资活动 + 筹资活动 = 现金净增加Operating Activities + Investing Activities + Financing Activities = Net Cash Increase4. 股东权益变动表（Statement of Changes in Equity）股东权益变动表是用来展示企业在特定期间内股东权益的变动情况，包括股本、资本公积、留存收益等项目的增减情况。
股东权益变动表的结构如下：期初股东权益 + 净利润 - 分红 = 期末股东权益Beginning Equity + Net Income - Dividends = Ending Equity以上是四大财务报表中文和英文对照的介绍，这些财务报表对于企业及投资者来说非常重要，能够全面展现企业的财务状况和经营业绩。
财务报表与财务分析中英文
n The cash flow received from the firm’s assets (CF(A)) must equal the cash flows to the firm’s creditors (CF(B)) and stockholders (CF(S)).
• Thus, income is reported when it is earned, even though no cash flow may have occurred.
2. Non-Cash Items 3. Time and Costs
财务报表与财务分析中英文
Non-Cash Items
the “bottom line.”
•Taxes
• 84
•(3) • Current: $71
• Deferred: $13
•Net income
•$86
• Retained earnings:
$43
• Dividends:
$43
财务报表与财务分析中英文
Income Statement Analysis
财务报表与财务分析中 英文
2020/12/22
财务报表与财务分析中英文
The Stockholders’ Report
n The guidelines used to prepare and maintain financial records and reports are generally accepted accounting principles (GAAP)(用於準備
财务报表分析-英文
Introduction and Basic Concepts
Business Partnership Vision Strategy Budget Forecast
Others Treasury M&A Risk Management Insurance Auditing Compliance Hedging ….
Introduction and Basic Concepts
Minimize Working Capital Maintain Strong Cash Flow
Pay Debts As They Are Due Increase Liquidity
Maintain Strong Financial Position
Introduction and Basic Concepts
导言及基本概念 Introduction and Basic Concepts Introduction Finance Organization Finance Activity Other topics
This training will allow you to understand： Finance Function Concept of Financial KPIs (Revenue, DM, DL, VOH, FOH, SG&A, OI, OCF, EBITDA, DOH, DSO, DPO, Incremental, etc.) BS, P&L and Cash Flow Statements Concepts of Financial Statement Evaluation and Investment Appraisal
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Financial Statement AnalysisIntroductionFinancial statement analysis is a crucial tool for assessing the financial performance and stability of a company. By analyzing a company’s financial statements, investors and other stakeholders can gain insights into its profitability, liquidity, solvency, and overall financial health. This document provides an overview of financial statement analysis, including the different types of financial statements, key financial ratios used in analysis, and the importance of using a systematic approach for analyzing financial statements.Types of Financial StatementsFinancial statements are a collection of reports that provide a snapshot of a company’s financial position and performance over a specific period. The three main types of financial statements include:1. Balance SheetThe balance sheet is a statement that shows the financial position of a company at a given point in time. It provides information about a company’s assets, liabilities, and shareholders’ equity. The balance sheet is divided into two main se ctions: the left side shows the company’s assets, while the right side shows its liabilities and shareholders’ equity.2. Income StatementThe income statement, also known as the profit and loss statement, reports a company’s revenues, expenses, and net in come over a specific period. It provides insights into a company’s profitability and helps identify trends in its revenue and expenses. The income statement follows a simple equation: revenues minus expenses equal net income.3. Cash Flow StatementThe cash flow statement shows the inflows and outflows of cash in a company over a specified period. It provides information about a company’s operating, investing, and financing activities. The cash flow statement helps assess a company’s ability to generate cash and its liquidity.Key Financial RatiosFinancial ratios are used to analyze the relationships between different items in a company’s financial statements. They help evaluate a company’s financialperformance, efficiency, liquidity, and solvency. Some key financial ratios used in financial statement analysis include:1. Profitability RatiosProfitability ratios measure a company’s ability to generate profits. Common profitability ratios include gross profit margin, operating profit margin, and net profit margin.2. Liquidity RatiosLiquidity ratios assess a company’s ability to meet its short-term obligations. These ratios include the current ratio and quick ratio.3. Solvency RatiosSolvency ratios evaluate a company’s long-term financial stability and ability to meet its long-term obligations. Examples of solvency ratios include the debt-to-equity ratio and the interest coverage ratio.4. Efficiency RatiosEfficiency ratios measure a company’s ability to utilize its assets and resources effectively. Examples include the inventory turnover ratio and the accounts receivable turnover ratio.Systematic Approach for Financial Statement AnalysisTo conduct an effective financial statement analysis, it is important to follow a systematic approach. The key steps in this approach include:1. Gathering Financial StatementsCollect the company’s financial statements, including the balance sheet, income statement, and cash flow statement.2. Analyzing Financial RatiosCalculate the relevant financial ratios and analyze them to assess the company’s financial performance and condition.3. Comparing RatiosCompare the calculated financial ratios with industry averages or with the company’s historical performance to identify trends and benchmark the company’s performance.4. Conducting a Trend AnalysisAnalyze the company’s financial statements over multiple periods to identify any significant changes or trends in its financial performance.5. Making Informed DecisionsBased on the analysis of the financial statements and ratios, make informed decisions about the company’s financial health, investment potential, and future prospects.ConclusionFinancial statement analysis is an important tool for assessing a company’s financial performance and stability. By analyzing a comp any’s financial statements and calculating key financial ratios, investors and stakeholders can make informed decisions about the company’s financial health, stability, and investment potential. Following a systematic approach for financial statement analysis ensures a comprehensive evaluation and helps identify trends and benchmarks for comparison.。