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1、外文翻译FundamentalAnalysisforEvaluatingBankPerformanceMaterialSource:BankAccounting&Finance(08943958);Oct/Nov2008,Vol.21Issue6,p17-24,8p,5ChartsAuthor:CalChristian,JacquelynSueMoffittandLynnA.SuberlyWhatvariablesprovidethegreatestinsightintofutureearnings?Manyanalystsandi
2、nvestorsfocusonasinglenumber—netincome(orearnings)—toevaluateperformance.Wheninvestorsattempttoforecastthemarketvalueofafirm,theyfrequentlyrelyonearnings.Manyinstitutionalinvestors,analystsandregulatorsbelieveearningsarenotasrelevantastheyoncewere.'Duetononrecurringeve
3、nts,disparitiesinmeasuringriskandmanagement'sabilitytodisguisefundamentalearningsproblems,othermeasuresbeyondnetincomecanassistinpredictingfuturefirmearnings.ImportanceofEarningsinFinancialReportingThefollowingstatementfromtheFinancialAccountingStandardBoard's(FASB)con
4、ceptualframeworkdemonstratestheroleofearningsinfinancialreporting:Theprimaryfocusoffinancialreportingisinformationaboutanenterprise'sperformanceprovidedbymeasuresofearningsanditscomponents.Investors,creditors,andotherswhoareconcernedwithassessingtheprospectsforenterpri
5、senetcashinflowsareespeciallyinterestedinthatinformation.Theirinterestinanenterprise'sfuturecashflowsleadsprimarilytoaninterestininformationaboutitsearnings...Forfinancialinstitutions,financialreportingthatreliesheavilyonnetearningsmaynotgiveafullpictureofperformance.T
6、heexaminationoffinancialstatementvariables(oftenreferredtoasfundamentalanalysis)mayreduceuncertaintiesforinvestors.PurposeofFinancialStatementsFASB'sconceptualframeworkconveysthepurposeoffinancialstatementsinthefollowingway:Financialreportingshouldprovideinformationtha
7、tisusefultopresentandpotentialinvestorsandcreditorsandother[financialstatement]usersinmakingrationalinvestment,credit,andsimilardecisions.Whilemarketpricemayserveasabenchmarktomeasurethevaluerelevanceofcertainaccountingmeasures,fundamentalanalysisusesintrinsicvaluesdis
8、coveredfromfinancialstatementsasbenchmarksagainstwhichsecuritypricesaremeasured,therebyidentifyingoverpricedandunderp
