cashflowanalysis(ppt30)英文版-經(jīng)營管理(參考版)
2024-08-20 15:55本頁面
【正文】 development – Travel ? Increasing revenue –“Stuffing the channels” ? Lying 2020/9/19 Cash Flow Analysis 24 Enronitis ? Enron ? Dynergy Inc., Reliant Resources Inc., CMS Energy ? Tyco ? GE ? Boeing ? IBM 2020/9/19 Cash Flow Analysis 25 3 Key Financial Aspects of a Business 1. Cash Flows 2. Maintaining Solvency 3. Profitability 2020/9/19 Cash Flow Analysis 26 Solvency Again ? The Current Ratio: Test of ShortTerm Solvency – Current Ratio = current assets / current liabilities General Rule of thumb: Should be greater than 2 to get a short term loan ? The Quick Ratio (The acid test ratio) – Quick Ratio = (Cash + AR) / Current Liabilities Should be less than 1 2020/9/19 Cash Flow Analysis 27 Solvency 2 ? Debt to Equity Ratio – Debt to Equity = Total Liabilities / Total Equity Measure of “l(fā)everaging” of debt. Usually kept below 1 ? Times Interest Earned Ratio – TIER = Operating Earnings / Interest Expense Higher is better, must stay above 1 2020/9/19 Cash Flow Analysis 28 Profitability ? Return on Sales Ratio – Return on Sales Ratio = Net Ine / Revenue ? Return on Equity – ROE = Ine / Stockholders Equity Should beat other investment options considering risk ? Return on Assets – ROA = Ine / Total Assets Measured against panies borrowing interest rate 2020/9/19 Cash Flow Analysis 29 We just covered ? How to calculate and a corporations Cash Flow analysis ? How to evaluate the solvency of a pany based on its balance sheet and cash flows 2020/9/19 Cash Flow Analysis 30 For Yourself ? Read pages 68 158 of Tracy’s book 。 businesses (1,570) Deferred ine taxes 239 Writedown on impaired investments 405 Receivables (1,471) Inventories (2,305) Other assets (532) Accounts payable (666) Other Liabilities (514) Cash from Operations (1,164) 2020/9/19 Cash Flow Analysis 23 Cooking! ? Controlling discretionary expenses – Repairs amp。 Equipment Cash Flows From Financing Activities + ShortTerm Debt Borrowing + LongTerm Debt Borrowing + Capital Stock Issue Dividends Paid to Stockholders = Increase in Cash for Year Balance Sheet / Cash Flow Interactions 2020/9/19 Cash Flow Analysis 16 Cash From Financing Activities ?
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