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财务管理英文课件Cha

财务管理英文课件Cha
Profit budget
Identify the objectives and goals of the business: It is essential to understand the objectives and goals of the business before preparing a budget This helps to align the budget with the overall strategy of the organization
It provides direction: A financial plan serves as a roadmap, guiding businesses towards their financial goals It identifies the financial objectives and milestones to be achieved, allowing businesses to plot a course towards their desired outcomes
Financial Management PPT Englndamentals of Financial ManagementFinancial statement analysisBudget and financial planInvestment decisionFinancial risk management
It shows the company's assets, liabilities, and equity, and is used to assess the company's financial health and solvency The balance sheet is prepared at the end of each accounting period and is an important tool for investors and credits to evaluate a company's financial strength and creditworthiness

企业财务管理基础知识(ppt 19页)(英文版)

企业财务管理基础知识(ppt 19页)(英文版)

Dr. Chak-Tong Chau
Fulbright Guest Lecture Materials
4
Usefulness of Information
How do we know, a priori, that information is “useful”?
Consider the following payoff structure (known to all):
Y1
{S1}
Y2
{S2, S3}
Y3
{S4, S5, S6}
This new information system partitions the matrix as follows
Signal: Y1
Y2
Y3
S1
S2
S3
S4
S5
S6
e1=10 2
3
3
4
5
5
e2= 5 2
2
3
4
4
5
Question: Are the signals, Y1,,Y2 and Y3 useful?
Consider this new contingent contract (corresponding payoffs):
Prob. e1=0 e2= 5
e3= 6
S1 0.25
0 14,722 (20,000) 14,722 (20,000)
S2 0.25
0 14,722 (20,000) 20,544 (30,000)
S1
S2
S3
S4
Expected Expected
Prob. 0.25
0.25
0.25

财务管理英文版166页PPT文档

财务管理英文版166页PPT文档

Basket Wonders Statement of Earnings (in thousands) for Year Ending December 31, 2019a
Ⅰ.Primary Types of Financial Statements
Balance Sheet
A summary of a firm’s financial position on a given date that shows total assets = total liabilities + owners’ equity.
Examples of External Uses of Statement Analysis
Trade Creditors -- Focus on the liquidity of the firm. Bondholders -- Focus on the long-term cash flow of
Basket Wonders Balance Sheet (thousands) Dec. 31, 2019a
Cash and C.E.
$
a. How the firm stands on
90 Acct. Rec.c
a specific date.
394 Inventories
b. What BW owned.
16
Other Accrued Liab. d 100
Current Liab. e $ 500
Long-Term Debt f
530
Shareholders’ Equity
Com. Stock ($1 par) g
200
Add Pd in Capital g

财务管理ppt英文课件Cha(2)

财务管理ppt英文课件Cha(2)

5
Interest Earned
6
Value
100 106
a
12
Future Values
Example - Simple Interest
Interest earned at a rate of 6% for five years on a principal balance of $100.
a
10
Future Values
Example - Simple Interest
Interest earned at a rate of 6% for five years on a principal balance of $100.
Today
Future Years
1
2
3
4
5
Interest Earned
Interest Earned
6.00
Value
100 106.00
a
21
Future Values
Example - Compound Interest
Interest earned at a rate of 6% for five years on the previous year’s balance.
a
7
Interest Rate Terminology
• Simple interest refers to interest earned only on the original capital investment amount.
• Compound interest复利 refers to interest earned on both the initial capital investment and on the interest reinvested from prior period.

财务管理ppt英文课件Cha(4)

财务管理ppt英文课件Cha(4)

a
12
Limited Liability Company
• Advantages
– Limited liability
– Eliminates消除 double
taxation
– No restriction限制 on
number or type of owners
– Easier to raise additional capital
. partners have unlimited liability
a
7
Partnership
• Advantages
– Two or more owners – More capital available – Relatively easy to start – Low setup cost, higher than
75,000 100,000 34% 13,750 + .34x(Inc > 75,000)
100,000 335,000 39% 22,250 + .39x(Inc > 100,000)
335,000 10,000,000 34% 113,900 + .34x(Inc > 335,000)
10,000,000 15,000,000 35% 3,400,000 + .35x(Inc > 10,000,000)
a
14
Calculating Taxable Income
Income Statement
Sales
Costs
Depreciation折旧
100
EBIT息税前利润
500
Interest利息

财务管理ppt英文课件Cha(6)

财务管理ppt英文课件Cha(6)
• Optimal Capital Structure -- The capital structure that minimizes the firm’s cost of capital and thereby maximizes the value of the firm.
a
8
Net Income Approach
+ ke
S B+SБайду номын сангаас
a
7
Net Income Approach
• Net Income Approach -- A theory of capital structure in which the weighted average cost of capital will decrease and the total value of the firm will increase as financial leverage is becoming greater. Assume: – Both ki and ke are unrelated to the financial leverage.
theory of the firm
a
5
A Conceptual Look --Relevant Rates of Return
ko = an overall capitalization rate for the firm
OO
ko = VV
=
Net operating income Total market value of the firm
a
2
Capital Structure
• Capital Structure -- The mix (or proportion) of a firm’s permanent longterm financing represented by debt, preferred stock, and common stock

财务管理英文Cha课件


Copyright 2001 Prentice-Hall, Inc.
12
Income Statement Analysis
Non Cash Items
➢ Depreciation is the most apparent. No firm ever writes a check for “depreciation”.
➢ Another noncash item is deferred taxes, which does not represent a cash flow.
Copyright 2001 Prentice-Hall, Inc.
13
Income Statement Analysis
Time and Costs
Copyright 2001 Prentice-Hall, Inc.
9
Income Statement Example
Sales
Costs Depreciation EBIT Interest Taxable Income Taxes Net Income Dividends Addition to R/E
Total Value of Assets
Total Value of Liabilities and Shareholders’ Equity
Hale Waihona Puke Copyright 2001 Prentice-Hall, Inc.
5
Balance Sheet Analysis
When analyzing a balance sheet, the financial manager should be aware of three concerns:

财务管理英文版.ppt


210
Total Equity $1,139
Total Liab/Equitya,b $2,169
a. Note, Assets = Liabilities + Equity.
b. What BW owed and ownership position.
c. Owed to suppliers for goods and services.
d. Unpaid wages, salaries, etc.
e. Debts payable < 1 year. f. Debts payable > 1 year. g. Original investment. h. Earnings reinvested.
Basket Wonders’ Income Statement
Financial Statement Analysis
Financial Statements A Possible Framework for Analysis Balance Sheet Ratios Income Statement and Income
Statement/Balance Sheet Ratios Trend Analysis Common-Size and Index Analysis
Ⅰ.Primary Types of Financial Statements
Balance Sheet
A summary of a firm’s financial position on a given date that shows total assets = total liabilities + owners’ equity. Income Statement

财务管理ppt英文课件ChaPPT课件


.
8
Debt versus Equity
Generally, when a firm borrows it gives the bondholders first claim on the firm’s cash flow.
Thus shareholder’s equity is the residual difference between assets and liabilities.
Revenue – Expenses ≡ Income
.
5
The Balance Sheet
Current Assets
Net
Working Capital
Current Liabilities
Fixed Assets 1.Tangible fixed assets 2.Intangible fixed assets
.
2
Examples of Internal Uses of Statement Analysis
Plan -- Focus on assessing the current financial position and evaluating potential firm f Financial Statement Information
Internal uses:
➢ performance evaluation ➢ planning for the future
External uses:
➢ evaluation by outside parties ➢ evaluation of main competitors ➢ identifying potential takeover targets

财务管理 英文版PPT课件

1
Chapter
The Goals and Functions of Financial Management
Copyright © 2008 by The McGraw-Hill CompanieMs, IcnGc.rAalwl r-iHghitlsl/rIerswerivned.
Chapter Outline
– Cash and inventory management – Capital structure theory – Dividend policy
1-5
Modern Issues in Finance
• Focus has been on:
– Risk-return relationships – Maximization of return for a given level of risk – Portfolio management – Capital structure theory
– Income statements – Balance sheets – Statement of cash flows
• Finance links economic theory with the numbers of accounting
1-3
Evolution of the Field of Finance
• At the turn of the century: Emerged as a field separate from economics
• By 1930s: Financial practices revolved around such topics as:
– Preservation of capital – Maintenance of liquidity – Reorganization of financially troubled
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A
4
Examples of External Uses of Statement Analysis
• Trade Creditors -- Focus on the liquidity of the firm. • Bondholders -- Focus on the long-term cash flow of the firm. • Shareholders -- Focus on the profitability and long-term health of the firm.
A
6
The Balance Sheet
Current Assets
Net
Working Capital
Current Liabilities
Fixed Assets 1.Tangible fixed assets 2.Intangible fixed assets
Total Value of Assets
A
3
Examples of Internal Uses of Statement Analysis
• Plan -- Focus on assessing the current financial position and evaluating potential firm opportunities.
– Accounting liquidity – Debt versus equity – Value versus cost
A
8
Accounting Liquidity
• Refers to the ease and quickness with which assets can be converted to cash. • Current assets are the most liquid. • Some fixed assets are intangible. • The more liquid a firm’s assets, the less likely the firm is to experience problems
• Thus shareholder’s equity is the residual difference between assets and liabilities. • Financial leverage increases the potential reward to shareholders, but also increases
• Income Statement – A summary of a firm’s revenues and expenses over a specified period, ending with net income or loss for the period. Revenue – Expenses ≡ Income
Chapter 6
Financial Statement Analysis
A
1
Financial Statement Analysis
• Financial Statements • A Possible Framework for Analysis • Ratio Analysis • Trend Analysis • Common-Size and Index Analysis
A
2
Uses of Financial Statement Information
• Internal uses: – performance evaluation – planning for the future
• External uses: – evaluation by outside parties – evaluation of main competitors – identifying potential takeover targets
A
Long-Term Debt
Shareholders’ Equity Total Value of Liabilities and Shareholders’ Equity
7
Balance Sheet Analysis
• When analyzing a balance sheet, the financial manager should be aware of three concerns:
• Control -- Focus on return on investment for various assets and asset efficiency.
• Understand -- Focus on understanding how suppliers of funds analyze the firm.
meeting short-term obligations. • Liquid assets frequently have lower rates of return than fixed assets.
A
9
Debt versus Equity
• Generally, when a firm borrows it gives the bondholders first claim on the firm’s cash flow.
the potential for financial distress and business failure.
A
10
Value versus Cost
• Generally Accepted Accounting Principles (GAAP) show that audited financial statements show assets at historical cost or book value.
A
5
Primary Types of Financial Statements
Balance Sheet
➢ A summary of a firm’s fБайду номын сангаасnancial position on a given date that shows
total assets = total liabilities + owners’ equity.