112北京cma面授班4美國(guó)注冊(cè)管理會(huì)計(jì)師

1、ReviewTotal availableTotal needBP/PS/UEReview自成咨詢 國(guó)際財(cái)經(jīng)認(rèn)證系列管理會(huì)計(jì)師CMA課程Functions of pro forma statement (目的與作用)Ø Tell company thepated performanceØ Assess whether itspated performance is in line with its established targets.Ø Funding neededØ pate the amount of funding needed to achi

2、eve its forecasted sales growthØ The base of sensitivity analysisØ Estimate the effects of changes in assumptions of key numbers by perforsensitivity analysisPro forma statement and Budget Analysis1. Pro forma FS & Budgets analysis2. Creating a pro forma FS3. Assessing Performance4. Pe

3、rforSensitivity AnalysisTop-level planning and analysisa. Pro forma incomeb. Final statement projectionsc. Cash flow projectionsCMA budgeting questions qutativev Must be able to prepare§ Cash budget based on set of data§ Other components of master budgetCreating the pro forma FSØ Orde

4、r P&L, B/S, C/FØ The use of common size final statement For P&L: use the percentage of sales For B/S: use the percentage of total assets For CF: use the percentage of total out flow or total in flowPro forma statement of cash flowsv Usually last of pro forma statements prepared. All oth

5、er elements must be completed before developedv Classifies cash receipts, disbursements based on if operating, investing, finng activitiesv Pro-forma statements interrelatedv Indirect presentation reconciles net income with net operating cash flow under GAAP§ AR / AP / Inventory changes combine

6、s the payment policy§ Depreciation / AmortizationPro forma balance sheetv Uses cash, capital budgets, pro forma income statementv Balance sheet indicates violation of contractual agreement budgeting process must be repeated§ Ex: Loan agreements requiring owner s equity maintained at% of to

7、tal debt/maintain current assets at given multiple of current liabilitiesPro forma income statementv Latin phrase “pro forma”v Used to decide if budgeted activities will result in acceptable level of income§ Unacceptable whole process begins againCreating the pro forma FSThe percentage of total

8、 assets methodv 通過(guò)研究資產(chǎn)結(jié)構(gòu)評(píng)估性和能力等問(wèn)題/assessing liquidity and profitability issues§ 性： 資產(chǎn)與非 資產(chǎn)的比例，凈資產(chǎn)§ 能力：長(zhǎng)期資產(chǎn)占總資產(chǎn)的比例，通常長(zhǎng)期資產(chǎn) 能力較高，短期資產(chǎn) 能力較低，現(xiàn)金 能力為負(fù)Creating the pro forma FSThe percentage of sales methodv 利用銷售百分比法編制模擬資產(chǎn)負(fù)債表§ 基于資產(chǎn)負(fù)債表各行次與銷售額的進(jìn)行§ 與融資有關(guān)的項(xiàng)目暫時(shí)保持不變§ 基于損益表的保留盈余增加額設(shè)定內(nèi)部融資數(shù)值

9、§ 對(duì)比資金運(yùn)用和資金來(lái)源的差異，得出需要的外部融資數(shù)值Creating the pro forma FSThe percentage of sales methodv 以銷售收入為起點(diǎn)，利用銷售額百分比法確定損益表各個(gè)行項(xiàng)目的數(shù)值；v CMA 考生需留意：§ 在CMA 考試中，以上一年度或者行業(yè)平均的損益表 各個(gè)行項(xiàng)目的銷售額百分比做為標(biāo)桿來(lái)下一年度的數(shù)值§ CMA 是一個(gè)綜合考試，在具體運(yùn)用百分比模擬財(cái)務(wù)報(bào)表的時(shí)候，很可能與后續(xù)的成本管理相關(guān)知識(shí)點(diǎn)一起綜合考察，比如：將銷售成本、銷售和管理費(fèi)用進(jìn)一步拆分為變動(dòng)成本和固定成本；§ 編制損益表的時(shí)候，在既

10、定的產(chǎn)量范圍內(nèi)保持固定成本不變，而變動(dòng)成本依據(jù)銷售百分比標(biāo)桿進(jìn)行；Creating the pro forma FSThe percentage of sales methodØ Convert every line items of P/L and B/S to the percentage of sales amountØ Create the relationship between the figures in P/L and B/S with the sales revenueØ 與銷售收入等比例增長(zhǎng)的項(xiàng)目Ø 銷售成本、銷售管理費(fèi)用(與經(jīng)營(yíng)相關(guān)

11、)Ø 現(xiàn)金、應(yīng)收賬款、存貨、凈固定資產(chǎn)等(與經(jīng)營(yíng)相關(guān))Ø 與銷售收入無(wú)明確的項(xiàng)目Ø 應(yīng)付票據(jù)、長(zhǎng)期債務(wù)、所有者權(quán)益等(與融資相關(guān))PerforSensitivity Analysisv Sensitivity analysis is the study of how the final ratios used to assess the performance be apportioned to different sources of uncertainty in its inputs. / 敏感性分析討論當(dāng)預(yù)設(shè)前提條件發(fā)生變化時(shí)，用于評(píng)價(jià)公司運(yùn)營(yíng)績(jī)效的各財(cái)務(wù)指

12、標(biāo)會(huì)發(fā)生多大程度的波動(dòng)v 考試中 要求考生首先根據(jù)變化后的條件重新計(jì)算損益表或資產(chǎn)負(fù)債表相關(guān)數(shù)據(jù)，然后對(duì)比相關(guān)的報(bào)表項(xiàng)目數(shù)據(jù)或相關(guān)財(cái)務(wù)比率Assessing Performance (pro forma FS)Ø Key ratiosü ROE = Net income / Average equityü ROA = Net income / Average total assetsü Current ratio = Current assets / Current liabilitiesü Quick(acid test) ratio = (

13、Current assets inventories) / Current liabilitiesü Gross margin = Gross profit / salesü EPS (basic and diluted)ü IACS (income available to common shaolders)ü Time interest earned (EBIT/I)Creating the pro forma FSv Creat a pro forma cash flow statement§ 間接法計(jì)算營(yíng)運(yùn)性現(xiàn)金流的萬(wàn)能公式凈利潤(rùn)(損失用負(fù)數(shù))- 存貨增加值(代表現(xiàn)金流出去購(gòu)買(mǎi)存貨了 )+應(yīng)收賬款減少值(代表收回了應(yīng)收款對(duì)應(yīng)的現(xiàn)金 )- 應(yīng)付賬款減少值(代表了支付應(yīng)付款導(dǎo)致現(xiàn)