TAILIEUCHUNG - Lecture Introduction to finance: Markets, investments, and financial management (14th edition): Chapter 14 - Melicher, Norton

Chapter 14 - Financial analysis and long-term financial planning. This chapter includes contents: Describe what is meant by financial statement analysis, describe the five basic types of financial ratios, indicate what is meant by Du Pont analysis and indicate its major components,. | Chapter 14 Financial Analysis and Long-Term Planning © 2011 John Wiley and Sons Chapter Outcomes Describe what is meant by financial statement analysis Describe the five basic types of financial ratios Indicate what is meant by Du Pont analysis and indicate its major components Explain the importance of the quality of financial statements Chapter Outcomes (Continued) Describe the link between asset investment requirements and sales growth Describe how internally generated financing occurs Describe how additional external financing requirements are determined Describe cost-volume-profit analysis Financial Statement Analysis Why? Reflects effect of economic and competitive environment Internal uses by management External uses Investors Suppliers Lenders Ratio Analysis Absolute numbers versus ratios Types of ratio analysis trend or time series cross-sectional industry average Ratio Analysis Difficulties GAAP Multiproduct firms and other differences Within same industry, ratio characteristics may differ between large/small, domestic/global firms Ratios may be defined differently by various sources Ratio Analysis Focus on different ratios depends on user: Bank loan officer Long-term lender/bondholder Equity investor Types of Financial Ratios Liquidity Asset Management Financial Leverage Profitability Market Value Liquidity Ratios Current ratio = Current Assets Current Liabilities Quick or acid-test ratio = (Cash + Accts. Receivable) Current Liabilities Average payment period = Accts Payable / (COGS/365) Asset Management Total Asset Turnover (TATO) = Net Sales / Total Assets Fixed Asset Turnover = Net Sales / Fixed Assets More Asset Management Average collection period = Accts Receivable / (Net Sales/365) Inventory Turnover = Cost of goods sold Inventory Financial Leverage Total Debt to Total Assets = Total Liabilities / Total Assets Total Debt to Equity = Total Liabilities / Stockholder’s Equity (SE) Equity Multiplier = .

• Tài chính doanh nghiệp
• Financial analysis
• Financial management
• Lecture Introduction to finance
• Financial markets
• Long term financial planning
• International financial statement
• Financial statement
• International financial statement analysis
• Financial statement analysis
• Financial reporting
• Financial analysis techniques
• Financial information
• Liquidity analysis
• Trend statements
• Financial reporting mechanics
• Financial reporting quality
• Financial decisions
• Lecture Financial statement analysis
• Business analysis
• Financial statement analysis techniques
• Efficient market
• Personal financial planning
• Personal financial
• Lecture Personal financial planning
• Financial planning
• Financial statements analysis
• Financial statements
• Fundamentals of financial management
• Common size analysis
• Financial ratio
• Statement analysis
• Supplementary information
• Income statements
• Balance sheets
• Cash flow statements
• Inventory valuation methods
• Long lived assets
• Noncurrent liabilities
• Credit quality
• Income taxes
• Postemployment benefit plans
• Intercorporate investments
• Multinational operations
• Evaluating quality
• Operating activities
• Forecasting financial statements
• Financial statement analysis package
• Preparing a term project
• Accounting information
• Analysis environment