現(xiàn)金流量與財務分析-文庫吧資料
2024-10-22 14:45本頁面
【正文】 ccountants (由公司內(nèi)的會計師編製 ) and reviewed by auditors(公司外的稽查員來檢閱 ) ? Creates a conflict of interest because management wants to portray firm in a positive light ? Published to a variety of audiences A1 Users of Financial Information ? Investors and Financial Analysts ? Major part of analyst’s job is to make a careful study of recent financial statements ? Vendors/Creditors ? Use financial information to determine if the firm is expected to make good on loans ? Management ? pinpoint strengths and weaknesses in operations A2 Sources of Financial Information (財務資訊的來源 ) ? Annual Report (主要的資訊來源 ) ? Required of all publicly traded firms ? Tend to portray firm in a positive light, so tend to biased in favor of management’s performance ? Brokerage firms and investment advisory services provide reports on most large firms. ? Example: Value Line (價值線 ), Moody’s, Samp。P A3 The Orientation of Financial Analysis (財務分析的導向 ) ? Accounting is concerned with financial statements ? Finance is concerned with using the data contained within financial statements to make decisions (使用財報上的資料去作決策 ) B The Statement of Cash Flows () ? Constructed from the Balance Sheet and Ine Statement ? 需要 2個連續(xù)年度的資產(chǎn)負債表及當年的損益表來形成現(xiàn)金流量表 ? 編表的方式有 2種 ? 依據(jù) 3個不同的活動 (operating, investing, and financing activities) ? 依據(jù)現(xiàn)金的來源與使用 B2 Business Cash Flows () ? Cash Flows Rules ? Asset increase ? use of cash ? Asset decrease ? source of cash ? Liability increase ? source of cash ? Liability decrease ? use of cash B3 Constructing the Statement of Cash Flows (Example:)1 B e l f r y C o m p a n y B e l f r y C o m p a n yB a l a n c e S h e e t I n c o m e S t a t e m e n tF o r t h e p e r i o d e n d e d 1 2 / 3 1 / X 2 F o r t h e p e r i o d e n d e d 1 2 / 3 1 / X 2S a l e s 1 0 , 0 0 0$ 1 2 / 3 1 / X 1 1 2 / 3 1 / X 2 C O G S 6 , 0 0 0$ C a s h 1 , 0 0 0 1 , 4 0 0 G r o s s m a r g i n 4 , 0 0 0$ A c c o u n t s r e c e i v a b l e 3 , 0 0 0 2 , 9 0 0I n v e n t o r y 2 , 0 0 0 3 , 2 0 0 E x p e n s e 1 , 6 0 0$ C U R R E N T A S S E T S 6
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