上市公司股票价格的变化，除了受宏观经济 形势和公司所处行业的发展趋势影响之外， 还受到公司内在因素的影响。本章通过对公 司的基本因素、公司财务报表、公司财务状 况以及公司财务状况综合分析，可以判断出 某个公司的投资价值的高低以及股价的可能 变动趋势

一、比较分析负债筹资和权益筹资的优劣，理解潜在利润率、筹资风险、表决控制权对企业筹资的影响。 二、对比新建企业和已经存在企业的主要资金来源，分析哪些是负债筹资，哪些是权益筹资

Prelude to Comprehensive Analysis Steps in Analyzing Financial Statements Explicitly define the analysis objectives Formulate specific questions and criteria consistent with the Macintosh PICT analysis objectives image format is not supported Identify the most effective and efficient tools of analysis

Earnings Persistence Recasting and Adjusting Earnings persistence is a key to effective equity analysis and valuation Analyzing earnings persistence is a main analysis objective

Short-Term Forecasting Objective and Users Main objective is analysis of liquidity Sufficient cash to effectively operate Ability to service short-term debt Liquidity is of interest to both internal and external users Managers(cash for operations) Creditors (loan safeguards) Investors(return implications) Auditors( going concern analysis) Numerous others

Return on Invested Capital Importance of Joint Analysis Joint analysis is where one measure is assessed relative to another Return on invested capital (ROI) is an important joint analysis

Income Measurement Concepts Illustration Facts: Company with$100,000 in cash Buys condo for$100,000 Rents condo for $12,000 per year End of the first year: Condo valued at

Current Asset Introduction Classification Current (short- Noncurrent term)Assets (Long-Term) Assets Resources or claims to resources that are Resources or claims expected to be sold

Financial Reporting Environment Regulators Industry Alternative Information Practices Sources Economy and Industry Information

1.本号准则适用于对政府补助的会计处理和揭示,以及对其他形式的政府援助的揭示。 2.本号准则不涉及下列内容: (1)在反映物价变动影响的财务报表或类似性质的补充资料中由于对政府补助进行会计处理所产生的特殊问题;