财务会计英文版课后习题答案ch14

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1、Chapter14591CHAPTER14DISCUSSIONQUESTIONSChapter145911.Onepurposeoffinancialstatementanalysisistoevaluatetheperformanceofacompanywithaneyetowardidentifyingproblemareas.Anotherpurposeoffinancialstatementanalysisistousethepastperformanceofacompanytopredict

2、howitwilldointhefuture.2.Disagree.Ananalysisofacompany’sfinancialratiosusuallydoesnotprovidedetailedinformationaboutwhatthecausesofacompany’sproblemsare,butitdoesidentifyareasinwhichmoredetaileddatashouldbegathered.3.Theusefulnessoffinancialratiosisgrea

3、tlyenhancedwhentheyarecomparedwithpastvaluesforthesamecompanyandwithvaluesforotherfirmsinthesameindustry.4.Currentratioisameasureofacompany’sliquidity,whichisthecompany’sabilitytopayitsdebtsintheshortrun.5.ItisimpossibletotellwhetherCompanyA’sreturnonsa

4、lesof6%ishighorlow.Thereturnonsalesvaluemustbeanalyzedinlightoftheappropriateindustry.Forexample,anormalreturnonsalesforsupermarketsisaround1%or2%,whereasthereturnonsalesforahigh-techcompanysuchasMicrosoftcanbeinexcessof20%.6.Theprice-earningsratiodiffe

5、rsfrommostotherfinancialratiosinthatitisnottheratiooftwofinancialstatementnumbers.Instead,thePEratioisacomparisonofafinancialstatementnumbertoamarketvaluenumber.7.Acommon-sizefinancialstatementisafinancialstatementwithallnumbersforagivenyeardividedbysal

6、esfortheyear.Thus,allamountsforagivenyearareshownasapercentageofsalesforthatyear.Common-sizefinancialstatementsmakeitpossibletomakecomparisonsevenwhenthesizeofcompaniesisdifferent.Inaddition,common-sizefinancialstatementsallowcomparisonofacompany’snumbe

7、rstoequivalentnumbersinprioryearswhenthesaleslevelmayhavebeenmuchdifferent.8.Ifananalysisofcommon-sizefinancialstatementssuggeststhatacompanyhasproblems,thewaytofindoutwhatiscausingtheseproblemsistogatherinformationfromoutsidethefinancialstatements—askm

8、anagement,readpressreleases,talktofinancialanalystswhofollowthefirm,readindustrynewsletters,anddigintothenotestothefinancialstatements.9.Themostinformativesectionofthecommon-sizebalancesheetistheassetsection.Thissectioncanbeusedt