金融chappt課件(參考版)
2025-05-10 03:57本頁面
【正文】 and then at the extreme,resulting in collapse in business. Solution: it should cut back its level of operations in line with existing finance available. The use of ratios in predicting financial distress Development of the ratio analysis: Univariate analysis (單一比率分析 ) nature/example:analysis one ratio at a time. weaknesses:different ratios analysis may lead to different financial signals in practice, even lead to conflicting signals. Multiple discriminate analysis(MDA多比率分析 )regression analysis nature: example:a discriminate function Limitations of ratio analysis Quality of financial statements reason: Ratios are based on the financial statements,the results of ratio analysis are dependent on the quality of these underlying statements. limitations:the effect of inflation have two aspects: values of assets held for any length of time may be little relation to current values。 results in suppliers withholding supplies。 owners are unable to inject further funds。 managers’ miscalculating the level of expected sales。Financial statement analysis and interpretation ? Objectives: Identify the major categories of ratios Calculate important ratios Explain the significance of the ratios Knowledge the limitations of ratios Knowledge the use of ratios in helping to predict financial distress ? Key words: financial ratios Fina
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