经济学兹维博迪金融学件
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Chapter 3: Managing Financial Health and Performance
Objectives
•Purpose of Financial Planning •Working Capital Management
1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
• Major Divisions:
– Revenue & cost of goods sold
» Gross margin
– General administrative and selling expenses (GS&A)
» Operating income
– Debt service
» Taxable income
• Liabilities
– Current Liabilities – Long-term debt
• Equity 6 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
GPC Balance Sheet on December 31
Chapter 3 Contents
• 3.1 Functions of Financial Statements
• 3.6 Analysis Using Financial Ratios
• 3.2 Review of Financial Statement
• 3.7 The Financial Planning Process
External Financing
• 3.5 Return on Shareholders v. Return on Book Equity
• 3.10 Working Capital Mgmt.
• 3.11 Liquidity & Cash Mgmt.
2
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
• Exchange-listed companies must comply with Securities and Exchange Commission (SEC) rules
5 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
4 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
The Balance Sheet
• Summarizes a firms assets, liabilities, and owner’s
equity at a moment in time
• 3.3 Market values v. Book Values
• 3.8 Constructing a Financial Planning Model
• 3.4 Accounting v. Economic • 3.9 Growth & the Need for
Measures of Income
– Provide a convenient way for owners & creditors to set performance targets & to impose restrictions of the managers of the firm
– Provide a convenient templates for financial planning
7 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
The Income Statement
• Summarizes the profitability of a
company ຫໍສະໝຸດ Baiduuring a time period
3 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
3.2 Review of Financial Statements
– Balance Sheets – Income Statements – Cash-Flow Statements
3.1 Functions of Financial Statements
• Financial Statements:
– Provide information to the owners & creditors of a firm about the current status and past performance
The Balance Sheet
• Major Divisions:
– Assets
• Current assets (less than a year) • Long-term assets (longer than a year
– Depreciation
– Liabilities and Stockholder’s Equity
– Corporate Taxes
» Net income
8
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
• Amounts measured at historical values and historical exchange rates
• Prepared according to GAAP, Generally Accepted Accounting Principles
– GAAP modified occasionally by the Financial Accounting Standards Board
Objectives
•Purpose of Financial Planning •Working Capital Management
1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
• Major Divisions:
– Revenue & cost of goods sold
» Gross margin
– General administrative and selling expenses (GS&A)
» Operating income
– Debt service
» Taxable income
• Liabilities
– Current Liabilities – Long-term debt
• Equity 6 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
GPC Balance Sheet on December 31
Chapter 3 Contents
• 3.1 Functions of Financial Statements
• 3.6 Analysis Using Financial Ratios
• 3.2 Review of Financial Statement
• 3.7 The Financial Planning Process
External Financing
• 3.5 Return on Shareholders v. Return on Book Equity
• 3.10 Working Capital Mgmt.
• 3.11 Liquidity & Cash Mgmt.
2
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
• Exchange-listed companies must comply with Securities and Exchange Commission (SEC) rules
5 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
4 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
The Balance Sheet
• Summarizes a firms assets, liabilities, and owner’s
equity at a moment in time
• 3.3 Market values v. Book Values
• 3.8 Constructing a Financial Planning Model
• 3.4 Accounting v. Economic • 3.9 Growth & the Need for
Measures of Income
– Provide a convenient way for owners & creditors to set performance targets & to impose restrictions of the managers of the firm
– Provide a convenient templates for financial planning
7 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
The Income Statement
• Summarizes the profitability of a
company ຫໍສະໝຸດ Baiduuring a time period
3 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
3.2 Review of Financial Statements
– Balance Sheets – Income Statements – Cash-Flow Statements
3.1 Functions of Financial Statements
• Financial Statements:
– Provide information to the owners & creditors of a firm about the current status and past performance
The Balance Sheet
• Major Divisions:
– Assets
• Current assets (less than a year) • Long-term assets (longer than a year
– Depreciation
– Liabilities and Stockholder’s Equity
– Corporate Taxes
» Net income
8
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
• Amounts measured at historical values and historical exchange rates
• Prepared according to GAAP, Generally Accepted Accounting Principles
– GAAP modified occasionally by the Financial Accounting Standards Board