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1、12LessonTenLong-termplanningPartone-Financialanalysis¢Describethetrendsinacompany’sfinancialstatementsusingratioanalysis.¢Identifyanddescribekeyelementsinthefinancial¢FinancialstatementsandreportsFinancialstatementsandreportsplanningprocessplanningprocess.¢Explainhowalong-termfinancialplan
2、ningmodel¢Ratioanalysisisprepared.¢Identifystrategicadvantagesandhowtheyapply¢Commonsizeanalysistofinancialplanning.¢Sourcesofindustrydata¢Describethefundamentalsoftreasuryriskmanagement.¢Potentialproblems¢Explainbusinessvaluation,mergers,andacquisitions.34TheAnnualReportProvidesKeyFinanci
3、alStatements¢Averbaldescriptionofthefirms¢Incomestatementoppgeratingresultsduringgpthepast¢BalancesheetBalancesheetyear¢Statementofcashflows¢Discussionofnewdevelopments¢Financialstatements56BalanceSheetsMicrodriveInc.(Millionsofdollars)78IncomeStatementsforyearendingDecember31MicrodriveInc
4、.(MillionsofDollars,exceptforper-sharedada)910StatementofCashFlows1996StatementofCashFlowsCashflowfromoperatingactivities:Netincome$44,220FASBStatement95requiresreportingAdditions(sourcesofcash):ofcashflowsfrom:ofcashflowsfrom:DiDepreciatition2000020,000¢Operatingactivities.Incr.inaccruals
5、4,000Incr.inaccountspayable29,600¢Investingactivities.Subtractions(usesofcash):¢Financingactivities.Incr.inreceivables(50,800)Incr.ininventories(120,800)NCFfromoperations($73,780)1112Cashflowfrominvestingactivities:RatioAnalysisCategoriesInvestmentinfixedassets($36,000)Cashflowfromfinancin
6、gactivities:¢LiquidityIncreaseinnotespayable$25,000IncreaseinL-Tdebt101,180¢AssetmanagementAssetmanagementCommondividends(22,000)¢DebtmanagementNCFfromfinancing$104,180¢ProfitabilityNetincrease(decr.)incash($5,600)¢MarketvalueCashatbeginningofyear57,600Cashatendofyear$52,0001314MeasuresofL
7、iquidityCA¢Liquidity=theabilityofafirmtoCurrentratio=.CLmeetitsshortmeetitsshort-termobligationsastermobligationsastheycomedue.CA-Inv.¢LiquidityanalysisrequiresuseofaQuickratio=.forecastedcashbudgetbutratioCLanalysisprovidessomequickmeasuresofliquidity.1516CAC
