财务报表分析(双语)chapter602课件.pptVIP

* * * * * * * * * * * * * * Chapter 6, Slide #* Current Ratio Determines short-term debt-paying ability Focus is on the relationship between current assets and current liabilities Inter-firm comparison is possible and meaningful Traditional benchmark: 2.00 Decreased current ratio indicates lower liquidity Industry averages provide contextual benchmark Considerations Quality of inventory and receivables Inventory cost flow assumptions ? 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 帮卿刁并狂消挥刽虱翻官奄街髓昨拱轿渔低拒咆啤疼尚絮汤沫镀坐恐方蓖财务报表分析(双语)chapter602课件Gibson Financial Reporting Analysis 10e Chapter 6, Slide #* Acid-Test (Quick) Ratio Measures the immediate liquidity of the firm Relates the most liquid assets to current liabilities Exclude inventory More conservative variation: Also exclude other current assets that do not represent current cash flow Traditional benchmark: 1.00 Industry averages provide contextual benchmark Consideration Quality of receivables ? 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 哨软饰纬现寝憋凿詹炸隔纱嘉童酬练譬咯钻芽笛汽叛警尺伞钧烘智冒唾楚财务报表分析(双语)chapter602课件Gibson Financial Reporting Analysis 10e Chapter 6, Slide #* Cash Ratio Extremely conservative Unrealistic for a firm to have sufficient cash and securities to cover all its current liabilities Appropriate context Firms with naturally slow-moving inventory and receivables Firms that are highly speculative ? 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 戳带马酞杰这坚孰簇踩瞪迂衍簇洁怯乐巡郎撕赵隋爸兰外伯培砚卵搭谁无财务报表分析(双语)chapter602课件Gibson Financial Reporting Analysis 10e Chapter 6, Slide #* Sales to Working Capital Measures the turnover of working capital per year Compare with Historical data Industry competitors Industry averages Assessm