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1、附件2：外文原文ANALYSISOFFINANCIALSTATEMENTSA.TheFinancialRatiosWeneedtousefinancialratiosinanalyzingfinancialstatements.——Theanalysisofcomparativefinancialstatementscannotbemadereallyeffectiveunlessittakestheformofastudyofrelationshipsbetweenitemsinthestatements.Itisoflittlevalue,forex
2、ample,toknowthat,onagivendate,theSmithCompanyhasacashbalanceof$1oooo.Butsupposeweknowthatthisbalanceisonly-IVpercentofallcurrentliabilitieswhereasayearagocashwas25percentofallcurrentliabilities.Sincethebankersforthecompanyusuallyrequireacashbalanceagainstbanklines,usedorunused,of
3、20percent,wecanseeatoncethatthefirm'scashconditionisexhibitingaquestionabletendency.Wemaymakecomparisonsbetweenitemsinthecomparativefinancialstatementsasfollows:1.Betweenitemsinthecomparativebalancesheeta)Betweenitemsinthebalancesheetforonedate,e.g.,cashmaybecomparedwithcurrentli
4、abilitiesb)Betweenaniteminthebalancesheetforonedateandthesameiteminthebalancesheetforanotherdate,e.g.,cashtodaymaybecomparedwithcashayearagoc)Ofratios,ormathematicalproportions,betweentwoitemsinthebalancesheetforonedateandalikeratiointhebalancesheetforanotherdate,e.g.,theratioofc
5、ashtocurrentliabilitiestodaymaybecomparedwithalikeratioayearagoandthetrendofcashconditionnoted2.Betweenitemsinthecomparativestatementofincomeandexpensea)Betweenitemsinthestatementforagivenperiodb)Betweenoneiteminthisperiod'sstatementandthesameiteminlastperiod'sstatementc)Ofratios
6、betweenitemsinthisperiod'sstatementandsimilarratiosinlastperiod'sstatement3.Betweenitemsinthecomparativebalancesheetanditemsinthecomparativestatementofincomeandexpensea)Betweenitemsinthesestatementsforagivenperiod,e.g.,netprofitforthisyearmaybecalculatedasapercentageofnetworthfor
7、thisyearb)Ofratiosbetweenitemsinthetwostatementsforaperiodofyears,e.g.,theratioofnetprofittonetworththisyearmay-becomparedwithlikeratiosforlastyear,andfortheyearsprecedingthatOurcomparativeanalysiswillgaininsignificanceifwetaketheforegoingcomparisonsorratiosand;inturn,comparethem
8、with:I.Suchdataasareabsentfromthecompara
