公司理财Ross-Chap002课件
合集下载
相关主题
- 1、下载文档前请自行甄别文档内容的完整性，平台不提供额外的编辑、内容补充、找答案等附加服务。
- 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
- 3、如文档侵犯您的权益，请联系客服反馈,我们会尽快为您处理(人工客服工作时间：9:00-18:30)。
• Understand the information provided by financial statements • Differentiate between book and market values • Know the difference between average and marginal tax rates • Know the difference between accounting income and cash flow • Calculate a firm’s cash flow
m$359o5 re
Βιβλιοθήκη Baidu
$39 32
liACqcacpuuitmaidlusluatrtephdlurasetnainepdreoarnpinegsrty,
p33la4970nt,
327 347
anLedss tereaqsuuryisptomck ent. Total equity
(26) (20) $805 $725
Intangible assets and other
245 221
Total fixed assets
$1,118 $1,035
Total assets
$1,879 $1,742
The assets are listed i2n010ord20e0r9
by the length Current Liabilities: Accounts payable
公司理财Ross-Chap002
Sources of Information
• Annual reports
• Wall Street Journal
• Internet
• NYSE () • NASDAQ () • Textbook ()
• SEC
• EDGAR • 10K & 10Q reports
公司理财Ross-Chap002
2.1 The Balance Sheet
An accountant’s snapshot of the firm’s accounting value at a specific point in time
The Balance Sheet Identity is: Assets ≡ Liabilities + Stockholder’s Equity
公司理财Ross-Chap002
Liquidity
• Refers to the ease and quickness with which assets can be converted to cash—without a significant loss in value
• Current assets are the most liquid. • Some fixed assets are intangible. • The more liquid a firm’s assets, the less likely the firm is to
公司理财Ross-Chap002
U.S. Composite Corporation Balance Sheet
Current assets: Cash and equivalents Accounts receivable Inventories Other Total current assets
公司理财Ross-Chap002
Chapter Outline
2.1 The Balance Sheet 2.2 The Income Statement 2.3 Taxes 2.4 Net Working Capital 2.5 Financial Cash Flow 2.6 The Accounting Statement of Cash Flows 2.7 Cash Flow Management
Total liabilities and stockholder's equity$1,879 $1,742
公司理财Ross-Chap002
Balance Sheet Analysis
• When analyzing a balance sheet, the Finance Manager should be aware of three concerns: 1. Liquidity 2. Debt versus equity 3. Value versus cost
2010 2009
$140 294 269 58
$761
$107 270 280 50
$707
Fixed assets:
Property, plant, and equipment $1,423 $1,274
Less accumulated depreciation (550) (460)
Net property, plant, and equipment 873 814
of
time
$i2t13wo$u19l7d
nANococtrreumsepdaaeyxalpbleylenstesake a firm w2i2t53h0
53 205
onTgotaol ciunrrgentoliapbileitiersations to$486 $455
Lcoongn-tevrmerliatbitlithiese: m into cash.
Deferred taxes
$117
Long-term debt
471
Total long-term liabilities
$588
$104 458
$562
Stockholder's equity:
CCPlroeemfeamrrroendlysstt,ooccckka($s1hparivsalume) uch
Chapter 2
Financial Statements and Cash Flow
McGraw-Hill/Irwin
公司理财CoRpoyrsisg-hCth©ap2000120 by the McGraw-Hill Companies, Inc. All rights reserved.
Key Concepts and Skills
m$359o5 re
Βιβλιοθήκη Baidu
$39 32
liACqcacpuuitmaidlusluatrtephdlurasetnainepdreoarnpinegsrty,
p33la4970nt,
327 347
anLedss tereaqsuuryisptomck ent. Total equity
(26) (20) $805 $725
Intangible assets and other
245 221
Total fixed assets
$1,118 $1,035
Total assets
$1,879 $1,742
The assets are listed i2n010ord20e0r9
by the length Current Liabilities: Accounts payable
公司理财Ross-Chap002
Sources of Information
• Annual reports
• Wall Street Journal
• Internet
• NYSE () • NASDAQ () • Textbook ()
• SEC
• EDGAR • 10K & 10Q reports
公司理财Ross-Chap002
2.1 The Balance Sheet
An accountant’s snapshot of the firm’s accounting value at a specific point in time
The Balance Sheet Identity is: Assets ≡ Liabilities + Stockholder’s Equity
公司理财Ross-Chap002
Liquidity
• Refers to the ease and quickness with which assets can be converted to cash—without a significant loss in value
• Current assets are the most liquid. • Some fixed assets are intangible. • The more liquid a firm’s assets, the less likely the firm is to
公司理财Ross-Chap002
U.S. Composite Corporation Balance Sheet
Current assets: Cash and equivalents Accounts receivable Inventories Other Total current assets
公司理财Ross-Chap002
Chapter Outline
2.1 The Balance Sheet 2.2 The Income Statement 2.3 Taxes 2.4 Net Working Capital 2.5 Financial Cash Flow 2.6 The Accounting Statement of Cash Flows 2.7 Cash Flow Management
Total liabilities and stockholder's equity$1,879 $1,742
公司理财Ross-Chap002
Balance Sheet Analysis
• When analyzing a balance sheet, the Finance Manager should be aware of three concerns: 1. Liquidity 2. Debt versus equity 3. Value versus cost
2010 2009
$140 294 269 58
$761
$107 270 280 50
$707
Fixed assets:
Property, plant, and equipment $1,423 $1,274
Less accumulated depreciation (550) (460)
Net property, plant, and equipment 873 814
of
time
$i2t13wo$u19l7d
nANococtrreumsepdaaeyxalpbleylenstesake a firm w2i2t53h0
53 205
onTgotaol ciunrrgentoliapbileitiersations to$486 $455
Lcoongn-tevrmerliatbitlithiese: m into cash.
Deferred taxes
$117
Long-term debt
471
Total long-term liabilities
$588
$104 458
$562
Stockholder's equity:
CCPlroeemfeamrrroendlysstt,ooccckka($s1hparivsalume) uch
Chapter 2
Financial Statements and Cash Flow
McGraw-Hill/Irwin
公司理财CoRpoyrsisg-hCth©ap2000120 by the McGraw-Hill Companies, Inc. All rights reserved.
Key Concepts and Skills