financial statement analysis quizlet
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Financial statement analysis quizlet

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Student in The 4-hour time limit per section and the number of testlets and questions in each section has not changed. Start Becker cpa far pdf free download. This ensures that the underlying general ledger accounts always relate to the same line items in the financial statements. Here is a quick guide to the main types of financial ratio analysis and the key financial ratios used in them. The two key financial ratios used to analyse liquidity are:.

The current ratio is also known as the working capital ratio and the quick ratio is also known as the acid test ratio. The two key financial ratios used to analyse solvency are:. The four key financial ratios used to analyse profitability are:. Efficiency analysis is used to analyse how hard a business is working its assets on behalf of its owners. The four key financial ratios used to analyse efficiency are:. Market prospects analysis is generally only undertaken for publicly traded companies.

It is generally used to determine the likely prospects of different investment options. There are numerous financial ratios used to calculate market prospects. Key ones include:. Financial ratio analysis is quantitative rather than qualitative.

For example, it cannot analyse the quality of their management. This means that, although financial ratio analysis can be hugely useful, it only tells part of the story. Financial ratio analysis can be applied in lots of other contexts too. For example, the accounts receivable days formula can help you to understand whether or not an accounts-receivable process is working efficiently.

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It's often used for specific growth projects, such as taking on a bigger contract or investing in a new market. Different businesses use working capital finance for a variety of purposes, but the general idea is that using working capital finance frees up cash for growing the business which will be recouped in the short- to medium-term.

A deferred payment arrangement may also include financing working capital needs eg. Trade credit. Redemption of debt Redemption describes the repayment of any money market fixed-income security at or before the asset's maturity date. Investors can make redemptions by selling part or all of their investments such as shares, bonds, or mutual funds. GDRs: Global Depository Receipt GDR is an instrument in which a company located in a domestic country issues one or more of its shares or convertibles bonds outside the domestic country.

In GDR, an overseas depository bank i. Such shares are in the form of a depository receipt or certificate created by overseas the depository bank. Cash inflow from interest income Cash inflow from dividend income Cash outflow to acquire fixed assets All of the above. Cash flows from Investing Activities: It is the section of the company's cash flow statement that displays how much money has been generated from or used in making investments during a specific period of time.

Investing activities include the purchase of long-term fixed assets like plant, property, equipment, etc. Cash outflow from interest payment. Cash inflow from interest income. Cash outflow from acquisitions of other businesses. Cash outflow from the dividend payment. Cash inflow from the sale of other businesses.

Cash inflow from dividend income. Cash outflow from the purchase of marketable securities. Cash flows from debt, equity, or other forms of financing. Cash inflow from the sale of marketable securities. Depreciation of capital assets even though the purchase of these assets is part of investing. All cash flows related to normal business activities. There are more items that can be included in this list; the only sure way to know what's included is to look at the balance sheet and analyze any difference between non-current assets over the two periods.

Any changes in the value of these long-term assets other than depreciation mean there will be investing items to display on the cash flow statement. Get Started for Free Download App. Answer Detailed Solution Below Option 4 : No change in current ratio Increase in current ratio Decrease in current ratio Current ratio will double. Thus, option 3 is the correct answer. Depreciation is source of funds. Major source of working capital in the long run, is profits form operations Any transaction that increases working capital is a source of funds.

Profits earned from non-operating activities is added to net profit while calculating profits from operations. Depreciation is a source of funds- False Explanation: Depreciation is a process of allocation of cost. It cannot be a source of funds. At best by charging adequate depreciation, the taxable profit may be legally reduced. The tax burden may be reduced. It may help to conserve working capital. It may indirectly regulate the fund position but cannot increase funds.

Major source of working capital in the long run, is profits form operations- True Explanation: Working capital is a financial metric which represents operating liquidity available to a business, organization, or other entity, including governmental entities. The major source of working capital is the company's profits earned from its day-to-day operations.

For example, the collection of receivables. Any transaction that increases working capital is a source of funds- True Explanation: Companies always seek sources of funding to grow the business. Funding, also called financing, represents an act of contributing resources to finance a program, project, or need. Funding can be initiated for either short-term or long-term purposes.

The different sources of funding include Retained earnings, Debt capital, Equity capital, etc. Any transaction whose benefit outweighs the cost is a source of fund for the firm. Profits earned from non-operating activities is added to net profit while calculating profits from operations- True Explanation: Non-operating income is the portion of an organization's income that is derived from activities not related to its core business operations. It can include dividend income, profits or losses from investments, as well as gains or losses incurred by foreign exchange and asset write-downs.

Profits earned from non-operating activities are added to net profit while calculating profits from operations. Payback period method: The payback period refers to the amount of time it takes to recover the cost of an investment or how long it takes for an investor to reach breakeven. Account and fund managers use the payback period to determine whether to go through with an investment.

Shorter paybacks mean more attractive investments, while longer payback periods are less desirable. The payback period is calculated by dividing the amount of the investment by the annual cash flow. The payback period, as a tool of analysis, is often used because it is easy to apply and easy to understand for most individuals, regardless of academic training or field of endeavor.

A business is said to be overleveraged when it is carrying too much debt when compared to its operating cash flows and equity. An overleveraged company has difficulty in paying its interest and principal payments and is often unable to pay its operating expenses because of excessive costs due to its debt burden, which often leads to a downward financial spiral. In short, the company faces a liquidity crisis. Thus, the payback period method is advised for the evaluation of investment opportunities in the situation of an overleveraged business.

In an uncertain market , one thing is certain: market declines are an inevitable part of investing. Thus, a company should use payback analysis to get an overview of the life of their investment and its returns. Projects with a longer payback period should be avoided during uncertain market conditions as they can pose a severe impact on the liquidity of the firm. Thus, option 2 is the correct answer. Conversion of debentures into preference shares will decrease debt-equity ration Long-term liabilities due for payment within a year should be treated as current liabilities Higher operating ratio indicates higher profits Cost of sales is a better numerator than sales while calculating stock turnover.

Conversion of debentures into preference shares will decrease debt-equity ration- True The debt-to-equity ratio is a financial ratio indicating the relative proportion of shareholders' equity and debt used to finance a company's assets. Closely related to leveraging, the ratio is also known as risk, gearing, or leverage. Conversion of debentures into preference shares will decrease the debt component and increase the equity component , which in turn will decrease the debt-equity ratio.

Current liabilities are a company's short-term financial obligations that are due within one year or within a normal operating cycle. Thus, Long-term liabilities due for payment within a year should be treated as current liabilities. A higher operating ratio indicates higher profits- False. The operating ratio shows the efficiency of a company's management by comparing the total operating expense of a company to net sales. An operating ratio that is decreasing is viewed as a positive sign, as it indicates that operating expenses are becoming an increasingly smaller percentage of net sales.

If the operating ratio is increased , it indicates that the operating expenses have increased which results in lower profits. Inventory turnover indicates the rate at which a company sells and replaces its stock of goods during a particular period. The inventory turnover ratio formula is the cost of goods sold divided by the average inventory for the same period. Answer Detailed Solution Below Option 1 : a-iii, b-i, c-ii, d-iv. The explanation of the above ratio: 1.

These are usually defined as assets that are cash or will be turned into cash in a year or less, and liabilities that will be paid in a year or less. Weaknesses of the current ratio include the difficulty of comparing the measure across industry groups, overgeneralization of the specific asset and liability balances, and the lack of trending information. Debtor turnover ratio : While calculating this ratio, only the net credit sales is to be taken into consideration.

Ideally, a company compares its debtors turnover ratio with the companies that have similar business operations and revenue and lie within the same industry. Where Average Account Receivable includes trade debtors and bill receivables. The higher the Debtors turnover ratio, the better is the credit management of the firm. Interest coverage ratio: The interest coverage ratio is used to see how well a firm can pay the interest on outstanding debt.

Also called the times-interest-earned ratio, this ratio is used by creditors and prospective lenders to assess the risk of lending capital to a firm. A higher coverage ratio is better, although the ideal ratio may vary by industry.

Higher leverage ratios tend to indicate a company or stock with higher risk to shareholders. Inability to pay interest i Interest coverage ratio b. Liquidity crisis ii Current ratio c. Inefficient collection of receivable iii Debtor turnover ratio d. Answer Detailed Solution Below Option 2 : 3. The number of days is taken as 90 days for a quarter or days for a year.

Test of liquidity Acid test ratio An acid-test ratio, also known as a quick ratio, is a financial measure of a company's ability to pay off its current liabilities — that is, any debt that will need to be repaid within a year , such as credit card charges and accounts payable. It tests the level liquidity of a business C. Test of profitability ROI Return on investment i s a ratio between net profit and the cost of investment.

As a performance measure, ROI is used to evaluate the efficiency of an investment or to compare the efficiencies of several different investments D. Test of solvency Debt equity ratio Solvency ratios consider a companies long-term financial wellbeing. Answer Detailed Solution Below Option 2 : 4 times. Horizontal Vertical Elliptical Multidimensional.

Financial Analysis: A financial Statement implies the formal and final summary of the financial affairs of the concern, indicating the performance, profitability, position, etc. The process of thoroughly analyzing the information given in the financial statement, so as to estimate the present and past financial position, operational efficiency of the concern, is called financial statement analysis or financial analysis.

Financial Analysis can be of two types, i. Use It represents the growth or decline of an item. Aims at Ascertaining the trend and changes in an item over time. Expresses An item from the past financial statement is restated to a percentage of the amount from the base year. Each item of the financial statement is denoted as a percentage of another item. Comparison Helpful in intra-firm comparison Helpful in both intra-firm comparison and inter-firm comparison Therefore, the comparison of net profit with the sales of the same year is termed vertical comparison.

In accounting literacy, there are no Elliptical or Multidimensional comparisons. Total cash inflows Total cash outflows Present value of cash outflows Initial cost minus Depreciation. Profitability Index PI : It is a capital budgeting technique that is used to calculate the profitability of investment projects. It is also known as the benefit-cost ratio. Profitability Index is calculated by dividing the present value PV of future cash inflow that is generated from the project by the initial value of investment i.

If the PI is greater than 1 , it is considered good and acceptable. If it is equal to one then the project is break-even. A and R both are correct and R correctly explains A. Both A and R are correct but R does not explain A. Both A and R are incorrect. A is correct but R is incorrect.

It can also help predict future performance and cash flow. Businesses that use a card reader at POS systems will need to show the associated charges on their income statement. The same is true for any company that regularly handles credit card processing or uses invoice software for functions like sending pro forma invoices. Gross Profit Margin — The percentage of revenue, minus your cost of goods sold. Calculated by dividing your gross profit by your revenue from sales.

Calculated by dividing your earnings by your revenue. Net Profit Margin — The percentage of revenue minus all expenses from sales, to determine profit capability. Calculated by dividing net profit by your revenue. Revenue Growth — The growth percentage of a given period. Calculated by subtracting last period's revenue from the current period's revenue, then dividing by the previous period's revenue. Revenue Concentration — The assessment of which clients generate the most revenue.

Calculated by dividing the revenue from a single client by your total revenue. Revenue Per Employee — The assessment of business productivity and employees needed. Calculated by dividing revenue by the number of employees. The balance sheet reflects your company's total liabilities and equity by reporting all assets, liabilities, and shareholder equity at a chosen point. The total dollar amount must zero out. A balance sheet might include:. Assets Liabilities and Equity — Your assets can be divided into liquidity ratios, leverage ratios, and efficiency ratios to determine how efficient your company generates revenue.

Liquidity Ratios — Liquidity ratios are current liabilities that measure your ability to pay short-term debts. They include current ratios, quick ratios, interest coverage, and net working capital. Leverage Ratios — Leverage ratios examine how much capital comes to a business in the form of debt. They can include debt to equity ratio, debts to assets ratio, debt to EBITDA ratio, debt to capital ratio, interest coverage, and fixed charge coverage.

Efficiency Ratios — Efficiency ratios measure your company's ability to manage liabilities and use assets to generate income. It can help determine inventory turnover, account receivable days, net asset turnover, and total asset turnover. The cash flow statement reports the amount of cash generated during a specific period. It provides information on liquidity, solvency, and future cash flows. You can generate your own cash flow statements by using invoicing software or even an excel sheet or collect data on assets like credit card payments automatically via your virtual terminal.

Inventory Turnover — How many times your business sold its total inventory, in dollar amount, over the past year. Calculated by dividing COGS by average inventory. Account Receivable Days — How efficiently the business used its assets. Calculated by dividing your net value of credit sales by average accounts receivable. Total Asset Turnover — The business's ability to generate sales from assets. Calculated by dividing your net sales by average total assets.

Calculated by dividing your sales by average total assets.