Chapter 1 alk
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The document discusses analyzing financial statements to evaluate a firm's worth and ability to meet obligations. It defines financial statement analysis as assessing viability, stability, and profitability. Financial statement analysis is used by business decision makers, equity investors, creditors, managers, and other parties to evaluate risks, prospects, management, controls, and other factors. Both quantitative and qualitative information is analyzed using tools like ratios and cash flow analysis. The overall goal is to determine a firm's intrinsic value.
Chapter 1 alk
- 1. Dipersiapkan untuk mata kuliah STIE Husnayain
- 2. “Evaluation of a firm's financial Apa itu statements in order to assess the firm's worth and its ability to meet Analisis its financial obligations” Laporan Keuangan? “an assessment of the viability, stability and profitability of a business, sub- business or project”
- 3. Business Analysis Evaluate Evaluate Risks Prospects Business Decision Makers Equity investors Creditors Managers Merger and Acquisition Analysts External Auditors Directors Regulators Employees & Unions Lawyers
- 4. Information Sources Quantitative Qualitative Financial Statements Management discussion & Analysis Industry Statistics Chairperson’s Letter Press Releases Economic Indicators Financial press Regulatory filings Vision/Mission Statement Trade reports Web sites
- 5. Kapan 1 • Pemilik Dana digunakan? • Intermediaries 2 • Pihak yang membutuhkan 3
- 6. Credit Analysis Equity Analysis Management & Control Labor Negotiations Types of Business Director Oversight Regulation Analysis Financial External Auditing Management Mergers, Acquisitions & Divestitures
- 7. Credit Analysis Trade Non-trade Creditors Creditors Provide Provide Bear risk of Bear risk of goods or major default default services financing Usually Usually Most short- Most long- implicit explicit term term interest interest
- 8. Credit Analysis Credit worthiness: Ability to honor credit obligations (downside risk) Liquidity Solvency Ability to meet short- Ability to meet long- term obligations term obligations Focus: Focus: Current cash flows Long-term Make up of current assets and liabilities profitability Liquidity of assets Capital structure
- 9. Equity Analysis Assessment of downside risk and upside potential Technical analysis / Fundamental Analysis Charting Determine Intrinsic value Patterns in price or without reference to volume history of a price stock Analyze and interpret key factors Predict future price movements Economy Industry Company
- 10. Business Environment & Strategy Analysis Industry Strategy Analysis Analysis Financial Analysis Analysis Accounting of cash Prospective Analysis flows Risk Analysis Profitability Analysis Analysis Cost of Capital Estimate Intrinsic Value
- 11. Accounting Analysis Process to evaluate and adjust financial statements to better reflect economic reality Comparability problems — across firms and across time Manager estimation error Distortion problems Earnings management Accounting Risk Accounting Standards
- 12. Financial Analysis Process to evaluate financial position and performance using financial statements Profitability analysis — Evaluate return on investments Common tools Risk analysis ——— Evaluate riskiness & creditworthiness Cash Ratio flow analysis analysis Analysis of — Evaluate source & cash flows deployment of funds
- 13. Prospective Analysis Process to forecast future payoffs Business Environment & Strategy Analysis Accounting Analysis Financial Analysis Intrinsic Value
- 14. Dynamics of Business Activities Business Activities Time Beginning of period Investing Financing Planning Operating Planning Investing Financing End of period
- 15. Business Activities Competition Pricing Market demands Tactics Planning Activities: Distribution Goals Promotion & Objectives Projections Managerial performance Opportunities Obstacles
- 16. Business Activities Planning Investing Activities Financial Activities Activities Operating Activities Revenues and expenses from providing goods and services
- 17. Financial Statements Reflect Business Activities Planning Investing Financing Current: Operating Current: • Cash • Notes Payable • Sales • Accounts Payable • Accounts Receivable • Cost of Goods Sold • Inventories • Salaries Payable • Selling Expense • Marketable Securities • Income Tax Payable • Administrative Expense Noncurrent: Noncurrent: • Interest Expense • Land, Buildings, & • Income Tax Expense • Bonds Payable Equipment • Common Stock • Patents • Retained Earnings Net Income • Investments Liabilities & Equity Income statement Assets Cash Flow Balance Sheet Balance Sheet Statement of Statement of Cash Flows Shareholders’ Equity
- 19. Tipe Rasio Leverage Liquidity Operating Profitability
- 20. Laporan Laba Neraca; Rugi; Laporan Laporan Arus Perubahan Kas; Ekuitas; Laporan Laporan Sumber dan Sumber dan Penggunaan Penggunaan Dana Zakat; Dana Kebajikan;