經(jīng)濟(jì)學(xué)會(huì)計(jì)學(xué)原理原文學(xué)習(xí)教案

1、會(huì)計(jì)學(xué)1經(jīng)濟(jì)學(xué)會(huì)計(jì)學(xué)原理經(jīng)濟(jì)學(xué)會(huì)計(jì)學(xué)原理(yunl)原文原文第一頁(yè)，共71頁(yè)。第1頁(yè)/共70頁(yè)第二頁(yè)，共71頁(yè)。第2頁(yè)/共70頁(yè)第三頁(yè)，共71頁(yè)。Application of analytical toolsInvolves transforming dataReduces uncertaintyC 1第3頁(yè)/共70頁(yè)第四頁(yè)，共71頁(yè)。Internal UsersExternal UsersFinancial statement analysis helps users make better decisions.ManagersOfficersInternal AuditorsShareho

2、ldersLendersCustomersC 1第4頁(yè)/共70頁(yè)第五頁(yè)，共71頁(yè)。Liquidity and EfficiencySolvencyProfitabilityMarketProspectsAbility to meet short-term obligations and to efficiently generate revenuesAbility to generate future revenues and meet long-term obligationsAbility to generate positive market expectationsAbility to

3、 provide financial rewards sufficient to attract and retain financingC 2第5頁(yè)/共70頁(yè)第六頁(yè)，共71頁(yè)。Income StatementBalance SheetStatement of Stockholders EquityStatement of Cash FlowsNotesC 2第6頁(yè)/共70頁(yè)第七頁(yè)，共71頁(yè)。To help me interpret our financial statements, I use several standards of comparison. Intracompany Com

4、petitor Industry GuidelinesC 3第7頁(yè)/共70頁(yè)第八頁(yè)，共71頁(yè)。Horizontal AnalysisTimeComparing a companys financial condition and performance across time.C 4第8頁(yè)/共70頁(yè)第九頁(yè)，共71頁(yè)。Comparing a companys financial condition and performance to a base amountVerticalAnalysisC 4第9頁(yè)/共70頁(yè)第十頁(yè)，共71頁(yè)。Measurement of key relations bet

5、ween financial statement itemsC 4第10頁(yè)/共70頁(yè)第十一頁(yè)，共71頁(yè)。TimeNow, lets look at some ways to use horizontal analysis.C 4第11頁(yè)/共70頁(yè)第十二頁(yè)，共71頁(yè)。CLOVER CORPORATIONComparative (Partial) Balance SheetDecember 31, 200720072006Dollar ChangePercent ChangeAssetsCurrent assets: Cash and equivalents12,000$ 23,500$ Acco

6、unts receivable, net60,000 40,000 Inventory80,000 100,000 Prepaid expenses3,000 1,200 Total current assets155,000$ 164,700$ Property and equipment: Land40,000 40,000 Buildings and equipment, net120,000 85,000 Total property and equipment160,000$ 125,000$ Total assets315,000$ 289,700$ C 4第12頁(yè)/共70頁(yè)第十三

7、頁(yè)，共71頁(yè)。DollarChangeAnalysis Period AmountBase PeriodAmount=Since we are measuring the amount of the change between 2006 and 2007, the dollar amounts for 2006 become the “base” period amounts.P 1第13頁(yè)/共70頁(yè)第十四頁(yè)，共71頁(yè)。PercentChangeDollar Change Base Period Amount100=P 1第14頁(yè)/共70頁(yè)第十五頁(yè)，共71頁(yè)。CLOVER CORPORATI

8、ONComparative (partial) Balance SheetDecember 31, 2007 20072006Dollar ChangePercent Change*AssetsCurrent assets: Cash and equivalents12,000$ 23,500$ (11,500)$ (48.9) Accounts receivable, net60,000 40,000 Inventory80,000 100,000 Prepaid expenses3,000 1,200 1,800 Total current assets155,000$ 164,700$

9、Property and equipment: Land40,000 40,000 - 0.0 Buildings and equipment, net120,000 85,000 Total property and equipment160,000$ 125,000$ Total assets315,000$ 289,700$ * Percent rounded to first decimal point.($11,500 $23,500) 100 = 48.9%$12,000 $23,500 = $(11,500)P 1第15頁(yè)/共70頁(yè)第十六頁(yè)，共71頁(yè)。CLOVER CORPORA

10、TIONComparative (Partial) Balance SheetDecember 31, 2007 20072006Dollar ChangePercent Change*AssetsCurrent assets: Cash and equivalents12,000$ 23,500$ (11,500)$ (48.9) Accounts receivable, net60,000 40,000 20,000 50.0 Inventory80,000 100,000 (20,000) (20.0) Prepaid expenses3,000 1,200 1,800 150.0 To

11、tal current assets155,000$ 164,700$ (9,700)$ (5.9)Property and equipment: Land40,000 40,000 - 0.0 Buildings and equipment, net120,000 85,000 35,000 41.2 Total property and equipment160,000$ 125,000$ 35,000$ 28.0Total assets315,000$ 289,700$ 25,300$ 8.7* Percent rounded to first decimal point.P 1第16頁(yè)

12、/共70頁(yè)第十七頁(yè)，共71頁(yè)。第17頁(yè)/共70頁(yè)第十八頁(yè)，共71頁(yè)。Now, lets look at trend analysis!P 1第18頁(yè)/共70頁(yè)第十九頁(yè)，共71頁(yè)。Trend analysis is used to reveal patterns in data covering successive periods.TrendPercent Analysis Period Amount Base Period Amount100=P 1第19頁(yè)/共70頁(yè)第二十頁(yè)，共71頁(yè)。Item20052004200320022001Revenues400,000$ 355,000$ 320

13、,000$ 290,000$ 275,000$ Cost of sales285,000 250,000 225,000 198,000 190,000 Gross profit115,000 105,000 95,000 92,000 85,000 2001 is the base period so its amounts will equal 100%.P 1第20頁(yè)/共70頁(yè)第二十一頁(yè)，共71頁(yè)。Item20052004200320022001Revenues105%100%Cost of sales104%100%Gross profit108%100%(290,000 275,00

14、0) 100% = 105%(198,000 190,000) 100% = 104%(92,000 85,000) 100% = 108%P 1Item20052004200320022001Revenues400,000$ 355,000$ 320,000$ 290,000$ 275,000$ Cost of sales285,000 250,000 225,000 198,000 190,000 Gross profit115,000 105,000 95,000 92,000 85,000 第21頁(yè)/共70頁(yè)第二十二頁(yè)，共71頁(yè)。Item20052004200320022001Reve

15、nues145%129%116%105%100%Cost of sales150%132%118%104%100%Gross profit135%124%112%108%100%How would this trend analysis look on a line graph?Item20052004200320022001Revenues400,000$ 355,000$ 320,000$ 290,000$ 275,000$ Cost of sales285,000 250,000 225,000 198,000 190,000 Gross profit115,000 105,000 95

16、,000 92,000 85,000 P 1第22頁(yè)/共70頁(yè)第二十三頁(yè)，共71頁(yè)。We can use the trend percentages to construct a graph so we can see the trend over time.P 1第23頁(yè)/共70頁(yè)第二十四頁(yè)，共71頁(yè)。VerticalAnalysisNow, lets look at some vertical analysis tools!P 2第24頁(yè)/共70頁(yè)第二十五頁(yè)，共71頁(yè)。Common-size PercentAnalysis AmountBase Amount100=Financial St

17、atementBase AmountBalance SheetTotal AssetsIncome StatementRevenuesP 2第25頁(yè)/共70頁(yè)第二十六頁(yè)，共71頁(yè)。CLOVER CORPORATIONComparative (Partial) Balance SheetDecember 31, 2007 Common-size Percents*2007200620072006AssetsCurrent assets: Cash and equivalents12,000$ 23,500$ 3.8%8.1% Accounts receivable, net60,000 40,0

18、00 Inventory80,000 100,000 Prepaid expenses3,000 1,200 Total current assets155,000$ 164,700$ Property and equipment: Land40,000 40,000 12.7% Buildings and equipment, net120,000 85,000 Total property and equipment160,000$ 125,000$ Total assets315,000$ 289,700$ * Percent rounded to first decimal point

19、.($12,000 $315,000) 100 = 3.8%($23,500 $289,700) 100 = 8.1%P 2第26頁(yè)/共70頁(yè)第二十七頁(yè)，共71頁(yè)。CLOVER CORPORATIONComparative (Partial) Balance SheetDecember 31, 2007 Common-size Percents*2007200620072006AssetsCurrent assets: Cash and equivalents12,000$ 23,500$ 3.8%8.1% Accounts receivable, net60,000 40,000 19.0%

20、13.8% Inventory80,000 100,000 25.4%34.5% Prepaid expenses3,000 1,200 1.0%0.4% Total current assets155,000$ 164,700$ 49.2%56.9%Property and equipment: Land40,000 40,000 12.7%13.8% Buildings and equipment, net120,000 85,000 38.1%29.3% Total property and equipment160,000$ 125,000$ 50.8%43.1%Total asset

21、s315,000$ 289,700$ 100.0%100.0%* Percent rounded to first decimal point.P 2第27頁(yè)/共70頁(yè)第二十八頁(yè)，共71頁(yè)。CLOVER CORPORATIONComparative (Partial) Balance SheetsDecember 31, 2007 Common-size Percents*2007200620072006Liabilities and Shareholders EquityCurrent liabilities: Accounts payable67,000$ 44,000$ 21.3%15.

22、2% Notes payable3,000 6,000 1.0%2.1% Total current liabilities70,000$ 50,000$ 22.2%17.3%Long-term liabilities: Bonds payable, 8%75,000 80,000 23.8%27.6% Total liabilities145,000$ 130,000$ 46.0%44.9%Shareholders equity: Preferred stock20,000 20,000 6.3%6.9% Common stock60,000 60,000 19.0%20.7% Additi

23、onal paid-in capital10,000 10,000 3.2%3.5% Total paid-in capital90,000$ 90,000$ 28.6%31.1%Retained earnings80,000 69,700 25.4%24.1% Total shareholders equity170,000$ 159,700$ 54.0%55.1%Total liabilities and shareholders equity315,000$ 289,700$ 100.0%100.0%* Percent rounded to first decimal point.P 2

24、第28頁(yè)/共70頁(yè)第二十九頁(yè)，共71頁(yè)。CLOVER CORPORATIONComparative Income StatementsFor the Years Ended December 31, 2007Common-size Percents*2007200620072006Revenues520,000$ 480,000$ 100.0%100.0%Costs and expenses: Cost of sales360,000 315,000 69.2%65.6% Selling and admin.128,600 126,000 24.7%26.3% Interest expense

25、6,400 7,000 1.2%1.5%Income before taxes25,000$ 32,000$ 4.8%6.7%Income taxes (30%)7,500 9,600 1.4%2.0%Net income17,500$ 22,400$ 3.4%4.7%Net income per share0.79$ 1.01$ Avg. # common shares22,200 22,200 * Rounded to first decimal point.P 2第29頁(yè)/共70頁(yè)第三十頁(yè)，共71頁(yè)。This is a graphical analysis of Clover Corpo

26、rations common-size income statement for 2007.P 2第30頁(yè)/共70頁(yè)第三十一頁(yè)，共71頁(yè)。Lets use the following financial statements for Norton Corporation for our ratio analysis.Liquidity and EfficiencySolvencyProfitabilityMarketProspectsP 3第31頁(yè)/共70頁(yè)第三十二頁(yè)，共71頁(yè)。NORTON CORPORATIONBalance SheetDecember 31, 200720072006As

27、setsCurrent assets: Cash30,000$ 20,000$ Accounts receivable, net20,000 17,000 Inventory12,000 10,000 Prepaid expenses3,000 2,000 Total current assets65,000$ 49,000$ Property and equipment: Land165,000 123,000 Buildings and equipment, net116,390 128,000 Total property and equipment281,390$ 251,000$ T

28、otal assets346,390$ 300,000$ P 3第32頁(yè)/共70頁(yè)第三十三頁(yè)，共71頁(yè)。NORTON CORPORATIONBalance SheetDecember 31, 200720072006Liabilities and Shareholders EquityCurrent liabilities: Accounts payable39,000$ 40,000$ Notes payable, short-term3,000 2,000 Total current liabilities42,000$ 42,000$ Long-term liabilities: Not

29、es payable, long-term70,000 78,000 Total liabilities112,000$ 120,000$ Shareholders equity: Common stock, $1 par value27,400 17,000 Additional paid-in capital158,100 113,000 Total paid-in capital185,500$ 130,000$ Retained earnings48,890 50,000 Total shareholders equity234,390$ 180,000$ Total liabilit

30、ies and shareholders equity346,390$ 300,000$ P 3第33頁(yè)/共70頁(yè)第三十四頁(yè)，共71頁(yè)。NORTON CORPORATIONIncome StatementFor the Years Ended December 3120072006Revenues494,000$ 450,000$ Cost of sales140,000 127,000 Gross margin354,000$ 323,000$ Operating expenses270,000 249,000 Net operating income84,000$ 74,000$ Inte

31、rest expense7,300 8,000 Net income before taxes76,700$ 66,000$ Less income taxes (30%)23,010 19,800 Net income53,690$ 46,200$ P 3第34頁(yè)/共70頁(yè)第三十五頁(yè)，共71頁(yè)。Current RatioAcid-test RatioAccounts Receivable TurnoverInventory TurnoverDays Sales UncollectedDays Sales in InventoryTotal Asset TurnoverP 3第35頁(yè)/共70頁(yè)

32、第三十六頁(yè)，共71頁(yè)。P 3第36頁(yè)/共70頁(yè)第三十七頁(yè)，共71頁(yè)。Dec. 31, 2007Current assets65,000$ Current liabilities(42,000) Working capital23,000$ P 3第37頁(yè)/共70頁(yè)第三十八頁(yè)，共71頁(yè)。CurrentRatio Current Assets Current Liabilities=This ratio measures the short-term debt-paying ability of the company.CurrentRatio$65,000$42,000=1.55 : 1P 3第

33、38頁(yè)/共70頁(yè)第三十九頁(yè)，共71頁(yè)。Quick assets are Cash, Short-Term Investments,and Current Receivables.This ratio is like the currentratio but excludes current assets such as inventories and prepaid expenses that may be difficult to quickly convert into cash. Quick AssetsCurrent Liabilities=Acid-TestRatio$50,000$

34、42,000= 1.19 : 1=Acid-TestRatioP 3第39頁(yè)/共70頁(yè)第四十頁(yè)，共71頁(yè)。This ratio measures how many times a company converts its receivables into cash each year. Sales on Account Average Accounts ReceivableAccounts ReceivableTurnover= 26.7 times $494,000 ($17,000 + $20,000) 2Accounts ReceivableTurnover=P 3第40頁(yè)/共70頁(yè)第四

35、十一頁(yè)，共71頁(yè)。This ratio measures the numberof times merchandise is sold andand replaced during the year. Cost of Goods Sold Average InventoryInventoryTurnover= 12.73 times $140,000 ($10,000 + $12,000) 2=InventoryTurnoverP 3第41頁(yè)/共70頁(yè)第四十二頁(yè)，共71頁(yè)。This ratio measures the liquidity of receivables. Days Sales

36、Uncollected=Ending Accounts ReceivableNet Sales 365Days Sales Uncollected=$20,000$494,000 365 = 14.8 daysP 3第42頁(yè)/共70頁(yè)第四十三頁(yè)，共71頁(yè)。This ratio measures the liquidity of inventory. Days Sales in Inventory=Ending InventoryCost of Goods Sold 365Days Sales in Inventory=$12,000$140,000 365 = 31.29 daysP3第43頁(yè)

37、/共70頁(yè)第四十四頁(yè)，共71頁(yè)。This ratio measures the efficiency of assets in producing sales.Total Asset Turnover=Net SalesAverage Total Assets= 1.53 times$494,000($300,000 + $346,390) 2=Total AssetTurnoverP 3第44頁(yè)/共70頁(yè)第四十五頁(yè)，共71頁(yè)。DebtRatioEquityRatioPledged Assets to Secured LiabilitiesTimes Interest EarnedP 3第45

38、頁(yè)/共70頁(yè)第四十六頁(yè)，共71頁(yè)。P 3第46頁(yè)/共70頁(yè)第四十七頁(yè)，共71頁(yè)。 Total Liabilities = Total AssetsDebt RatioThis ratio measures what portion of a companys assets are contributed by creditors. $112,000 = $346,390Debt Ratio= 32.3%P 3第47頁(yè)/共70頁(yè)第四十八頁(yè)，共71頁(yè)。This ratio measures what portion of a companys assets are contributed by o

39、wners. Total Equity = Total AssetsEquity Ratio $234,390 = $346,390Equity Ratio= 67.7%P 3第48頁(yè)/共70頁(yè)第四十九頁(yè)，共71頁(yè)。This ratio measures the solvency of companies. Total Liabilities = Total EquityDebt-to-Equity-RatioP 3第49頁(yè)/共70頁(yè)第五十頁(yè)，共71頁(yè)。This is the most common measure of the ability of a firms operations to

40、 provide protection to the long-term creditor.Times Interest EarnedNet Income before Interest Expense and Income TaxesInterest Expense=Times Interest Earned$84,000$7,300= 11.51P 3第50頁(yè)/共70頁(yè)第五十一頁(yè)，共71頁(yè)。Profit MarginGross MarginReturn on Total AssetsBasic Earnings per ShareBook Value per Common ShareRet

41、urn on Common Stockholders EquityP 3第51頁(yè)/共70頁(yè)第五十二頁(yè)，共71頁(yè)。P 3第52頁(yè)/共70頁(yè)第五十三頁(yè)，共71頁(yè)。This ratio describes a companys ability to earn a net income from sales.ProfitMarginNet IncomeNet Sales= 10.87%ProfitMargin$53,690$494,000=P 3第53頁(yè)/共70頁(yè)第五十四頁(yè)，共71頁(yè)。This ratio measures the amount remaining from $1 in sales t

42、hat is left to cover operating expenses and a profit after considering cost of sales.GrossMarginNet Sales - Cost of SalesNet Sales= 71.66%GrossMargin$494,000 - $140,000$494,000=P 3第54頁(yè)/共70頁(yè)第五十五頁(yè)，共71頁(yè)。This ratio is generally consideredthe best overall measure of acompanys profitability.= 16.61%$53,69

43、0($300,000 + $346,390) 2=Return on Total AssetsReturn onTotal Assets Net Income Average Total Assets=P 3第55頁(yè)/共70頁(yè)第五十六頁(yè)，共71頁(yè)。Return on CommonStockholders EquityNet Income - Preferred Dividends Average Common Stockholders Equity= 25.9%$53,690 - 0($180,000 + $234,390) 2=Return on Common Stockholders EquityThis measure indicates how well the company employed the owners investments to earn income.P 3第56頁(yè)/共70頁(yè)第五十