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Financial Statement Analysis
Chapter 15
PowerPoint Authors:
Susan Coomer Galbreath, Ph.D., CPA Charles W. Caldwell, D.B.A., CMA Jon A. Booker, Ph.D., CPA, CIA Cynthia J. Rooney, Ph.D., CPA
McGrawHill/Irwin Copyright © 2012 by The McGrawHill Companies, Inc. All rights reserved.
15-2
Limitations of Financial Statement Analysis
Differences in accounting methods between companies sometimes make comparisons difficult.
We use the LIFO method to value inventory.
We use the average cost method to value inventory.
15-3
Limitations of Financial Statement Analysis
Analysts should look beyond the ratios.
Industry trends
Changes within the company
Consumer tastes
Technological changes
Economic factors
15-4
Statements in Comparative and CommonSize Form
Dollar and percentage changes on statements
An item on a financial statement has little meaning by itself. The meaning of the numbers can be enhanced by
Common-size statements
drawing comparisons.
Ratios
15-5
Horizontal Analysis
Calculating Change in Dollar Amounts
Dollar Change
=
Current Year Figure
–
Base Year Figure
The dollar amounts for last year become the “base” year figures.
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