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atement of cash flows Statement of retained earnings In the statements ,quantitative and verbal materials are equally important Firms typically prepare these statements quarterly,but users concentrate on fiscal yearend statements 19 Balance sheet The Balance Sheet Identity is: Assets ≡ Liabilities + Stockholder’s When analyzing a balance sheet, the Finance Manager should be aware of three concerns: 1 Accounting liquidity (變現(xiàn)性 ) 2 Debt versus equity (債務(wù) . 權(quán)益 ) 3 Value versus cost (價值 . 成本 ) 110 Refers to the ease and quickness with which assets can be converted to cash—without a significant loss in value (所謂變現(xiàn)性是指在沒有嚴重損失價值之下,可以容易且快速的將資產(chǎn)轉(zhuǎn)換成現(xiàn)金 ) Current assets are the most liquid. (流動資產(chǎn)最具變現(xiàn)性 ) Some fixed assets are intangible. (某些固定資產(chǎn)是無形資產(chǎn) ) The more liquid a firm’s assets, the less likely the firm is to experience problems meeting shortterm obligations. (企業(yè)的資產(chǎn)越具變現(xiàn)性,則企業(yè)越不可能經(jīng)歷無法滿足短期債務(wù)的問題 ) Acc