Financial statement analysis: using financial accounting information
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cincinnati, Ohio
South-Western College Publ.
1995
|
| Edition: | 6. ed. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XVIII, 830 S. |
| ISBN: | 0538836075 |
Staff View
MARC
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Record in the Search Index
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| adam_text | Contents
1 FUNDAMENTAL CONCEPTS AND
INTRODUCTION TO FINANCIAL REPORTING 1
Development of Generally Accepted Accounting Principles (GAAP) 1
American Institute of Certified Public Accountants (AICPA) • Financial
Accounting Standards Board (FASB) • Operating Procedure for Statements
of Financial Accounting Standards (SFAS) • FASB Conceptual Framework
Additional Input—American Institute of
Certified Public Accountants (AICPA) 12
Emerging Issues Task Force (EITF) 13
Traditional Assumptions of the Accounting Model 13
Business Entity • Going Concern or Continuity • Time Period • Monetary
Unit • Historical Cost • Conservatism • Realization • Matching •
Consistency • Full Disclosure • Materiality • Industry Practices •
Transaction Approach • Present Value Considerations • Cash Basis •
Accrual Basis
Summary 24
Questions 25
Problems 28
Case 1 1 Big GAAP—Little GAAP 34
Case 1 2 The Watchman 35
Case 1 3 Standard Setting: A Political Aspect 38
Case 1 4 Standard Setting By the Way of the United States Con¬
gress 42
2 INTRODUCTION TO FINANCIAL STATEMENTS
AND OTHER FINANCIAL REPORTING TOPICS 45
Forms of Business Entity 45
The Financial Statements 46
Balance Sheet (Statement of Financial Position) • Income Statement
(Statement of Earnings) • Statement of Retained Earnings (Reconciliation
of Retained Earnings) • Statement of Cash Flows (Statement of Inflows and
Outflows of Cash) • Footnotes (Notes)
The Accounting Cycle 49
Recording Transactions • Recording Adjusting Entries • Preparing the
Financial Statements
Other Financial Reporting Topics 54
xi
xii CONTENTS
Human Resource and Social Accounting • Auditor s Report •
Management s Responsibility for Financial Statements • The SEC s
Integrated Disclosure System • Proxy (Proxy Statements) • Summary
Annual Report • Ethics • Harmonization of International Accounting
Standards
Summary 68
Questions 68
Problems 70
Case 2 1 Which Responsibilities Take Precedence? 75
Case 2 2 The Dangerous Morality of Managing Earnings 76
3 BALANCE SHEET 85
Consolidated Statements 85
Balance Sheet 86
Assets • Liabilities • Owners Equity • Quasi Reorganization • Foreign
Currency Translation • Unrealized Holding Gains and Losses • Equity
Oriented Deferred Compensation • Employee Stock Ownership Plans
(ESOPs) • Treasury Stock • Owners Equity in Unincorporated Firms
Problems in Balance Sheet Presentation 123
Summary 123
Questions 124
Problems 126
Case 3 1 Comprehensive Balance Sheet 134
Case 3 2 Insight on Liabilities and Shareholders Equity 135
Case 3 3 Insight on Assets 137
Case 3 4 Selective Review of the Balance Sheet 138
Case 3 5 Our Principle Assets Is Our People 141
4 INCOME STATEMENT AND STATEMENT OF RETAINED EARNINGS 143
Income Statement 143
Net Sales (Revenues) • Cost of Goods Sold or Cost of Sales • Other
Operating Revenue • Operating Expenses • Other Income and Expense
Special Income Statement Items 146
(A) Unusual or Infrequent Item Disclosed Separately • (B) Equity in
Earnings of Nonconsolidated Subsidiaries • Income Taxes Related to
Operations • (C) Discontinued Operations • (D) Extraordinary Items •
(E) Cumulative Effect of Change in Accounting Principle • (F) Minority
Share of Earnings
Earnings Per Share 158
Statement of Retained Earnings 158
Dividends and Stock Splits 159
CONTENTS Xiii
Summary 161
Questions 161
Problems 163
Case 4 1 Single Step/Multiple Step Income Statement 169
Case 4 2 Identify Nonrecurring Items 170
Case 4 3 Review of Income 171
Case 4 4 Examination of Income Statement 172
Case 4 5 The Big Order 173
5 BASICS OF ANALYSIS 175
Ratio Analysis 175
Common Size Analysis (Vertical and Horizontal) 176
Comparisons 177
Trend Analysis • Standard Industrial Classification Manual (SIC) •
Industry Averages and Comparison with Competitors • Caution in Using
Industry Averages
Other Library Sources 202
Standard Poor s Reports • Standard Poor s Register of
Corporations, Directors and Executives • Standard Poor s Analyst s
Handbook • Standard Poor s Corporation Records • America s
Corporate Families™: The Billion Dollar Directory® • Million Dollar
Directory® • Directory of Corporate Affiliations • Thomas Register of
American Manufacturers and Thomas Register • Moody s Investors
Services • Securities Owner s Stock Guide • Wall Street Transcript •
Predicasts F S Index • Reference Book of Corporate Managements •
Compact Disclosure
Relative Size of Firm 206
Financial Statement Variations by Type of Industry 207
Descriptive Information 207
The Users of Financial Statements 215
Summary 216
Questions 216
Problems 218
6 AN ILLUSTRATION OF STATEMENT ANALYSIS:
PART I—COOPER TIRE RUBBER COMPANY 221
Cooper Tire Rubber Company 221
Introduction • Industry • Operations • 1992 Financial Statements
Questions 242
Problems 243
xiv CONTENTS
7 LIQUIDITY OF SHORT TERM ASSETS AND
THE RELATED SHORT TERM DEBT PAYING ABILITY 245
Current Assets, Current Liabilities, and the Operating Cycle 245
Cash • Marketable Securities • Receivables • Inventories • Prepayments •
Other Current Assets • Current Liabilities
Current Assets Compared with Current Liabilities 272
Working Capital • Current Ratio • Acid Test Ratio (Quick Ratio) • Cash
Ratio
Other Liquidity Considerations 279
Sales to Working Capital (Working Capital Turnover) • Liquidity
Considerations Not on the Face of the Statements
Summary 281
Questions 282
Problems 285
Case 7 1 LIFO FIFO 301
Case 7 2 Rising Prices, a Time to Switch Off LIFO? 302
Case 7 3 The Other Side of LIFO 303
Case 7 4 The Flying Machine 305
Case 7 5 Booming Retail 309
8 LONG TERM DEBT PAYING ABILITY 311
Income Statement Consideration When
Determining Long Term Debt Paying Ability 311
Times Interest Earned • Fixed Charge Coverage
Balance Sheet Consideration When
Determining Long Term Debt Paying Ability 317
Debt Ratio • Debt/Equity Ratio • Debt to Tangible Net Worth Ratio •
Other Long Term Debt Paying Ability Ratios
Special Items That Influence a Firm s Long Term Debt Paying Ability 326
Long Term Assets Versus Long Term Debt • Long Term Leasing • Pension
Plans • Postretirement Benefits Other than Pensions • Joint Ventures •
Contingencies • Financial Instruments With Off Balance Sheet Risk and
Financial Instruments With Concentrations of Credit Risk • Disclosures
About Fair Value of Financial Instruments
Summary 349
Questions 349
Problems 351
Case 8 1 Deferred Taxes? The Answer is Yes! 361
Case 8 2 Expensing Interest Now and Later 366
Case 8 3 Consideration of Leases 367
Case 8 4 Consider These Contingencies 368
Case 8 5 Insight on Postretirement Benefits 369
CONTENTS XV
Case 8 6 Retirement Plans Revisited 372
9 ANALYSIS OF PROFITABILITY 375
Profitability Measures 375
Net Profit Margin • Total Asset Turnover • Return on Assets • DuPont
Return on Assets • Interpretation through DuPont Analysis • Variation in
Computation of DuPont Ratios Considering Only Operating Accounts •
Operating Income Margin • Operating Asset Turnover • Return on
Operating Assets • Sales to Fixed Assets • Return on Investment (ROI) •
Return on Total Equity • Return on Common Equity • The Relationship
Between Profitability Ratios • Gross Profit Margin
Trends in Profitability 390
Segment Reporting 392
Gains and Losses That Bypass the Income Statement 398
Interim Reports 400
Summary 401
Questions 403
Problems 404
Case 9 1 Johnny s Self Service Station 413
Case 9 2 What Cost Earnings? 414
Case 9 3 The Tale of the Segments 418
Case 9 4 Follow the Segments 420
10 ANALYSIS FOR THE INVESTOR 425
Leverage and Its Effect on Earnings 425
Definition of Financial Leverage and Magnification Effects • Computation
of the Degree of Financial Leverage • Summary of Financial Leverage
Earnings Per Common Share 429
Price/Earnings Ratio 436
Percentage of Earnings Retained 438
Dividend Payout 440
Dividend Yield 441
Book Value Per Share 442
Interpretation of Book Value
Stock Options 443
Stock Appreciation Rights 445
Summary 446
Questions 447
Problems 449
xviii CONTENTS
Earning Assets • Loan Loss Coverage Ratio • Equity Capital to Total
Assets • Deposits Times Capital • Loans to Deposits
Electric Utilities 657
Ratios for Electric Utilities • Operating Ratio • Funded Debt to Operating
Property • Percent Earned on Operating Property • Operating Revenue to
Operating Property
Oil and Gas 667
Successful Efforts Versus Full Cost • Supplementary Information on Oil
and Gas Exploration, Development, and Production Activities • Cash Flow
Transportation 682
Operating Ratio • Long Term Debt to Operating Property • Operating
Revenue to Operating Property • Per Mile Per Person Per Ton Passenger
Load Factor
Insurance 688
Balance Sheet Under GAAP • Income Statement Under GAAP • Ratios
Real Estate Companies 696
Summary 697
Questions 701
Problems 703
Case 15 1 Allowance for Funds 708
Case 15 2 In Progress 712
Case 15 3 Review This Utility 713
Case 15 4 Loans and Provision for Loans 720
Case 15 5 You Can Bank On It 720
Case 15 6 Proved Reserves 725
16 PERSONAL FINANCIAL STATEMENTS AND ACCOUNTING
FOR GOVERNMENTS AND OTHER NONPROFIT INSTITUTIONS 729
Personal Financial Statements 729
Form of the Statements • Suggestions for Reviewing Statement of Financial
Condition and Statement of Changes in Net Worth • Illustration of
Preparation of Statement of Financial Condition • Illustration of
Preparation of Statement of Changes in Net Worth
Accounting for Governments and Other Nonprofit Institutions 739
Accounting for Governments • Not For Profit Organizations Other Than
Governments • Changes in Financial Reporting of Not For Profit
Organizations Other Than Governments • Budgeting by Objectives and/or
Measures of Productivity
Summary 760
Questions 761
Problems 762
Case 16 1 Governor Lucas—This Is Your County 767
COMPREHENSIVE CASE—WORTHINGTON INDUSTRIES 781
|
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| id | DE-604.BV010413863 |
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| indexdate | 2024-07-09T17:52:06Z |
| institution | BVB |
| isbn | 0538836075 |
| language | English |
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| physical | XVIII, 830 S. |
| publishDate | 1995 |
| publishDateSearch | 1995 |
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| spelling | Gibson, Charles H. Verfasser aut Financial statement analysis using financial accounting information Charles H. Gibson 6. ed. Cincinnati, Ohio South-Western College Publ. 1995 XVIII, 830 S. txt rdacontent n rdamedia nc rdacarrier Balansanalyse gtt Financiële verslaglegging gtt Financial statements Information (DE-588)4026899-8 gnd rswk-swf Rechnungswesen (DE-588)4048732-5 gnd rswk-swf Rechnungswesen (DE-588)4048732-5 s Information (DE-588)4026899-8 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006935525&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Gibson, Charles H. Financial statement analysis using financial accounting information Balansanalyse gtt Financiële verslaglegging gtt Financial statements Information (DE-588)4026899-8 gnd Rechnungswesen (DE-588)4048732-5 gnd |
| subject_GND | (DE-588)4026899-8 (DE-588)4048732-5 |
| title | Financial statement analysis using financial accounting information |
| title_auth | Financial statement analysis using financial accounting information |
| title_exact_search | Financial statement analysis using financial accounting information |
| title_full | Financial statement analysis using financial accounting information Charles H. Gibson |
| title_fullStr | Financial statement analysis using financial accounting information Charles H. Gibson |
| title_full_unstemmed | Financial statement analysis using financial accounting information Charles H. Gibson |
| title_short | Financial statement analysis |
| title_sort | financial statement analysis using financial accounting information |
| title_sub | using financial accounting information |
| topic | Balansanalyse gtt Financiële verslaglegging gtt Financial statements Information (DE-588)4026899-8 gnd Rechnungswesen (DE-588)4048732-5 gnd |
| topic_facet | Balansanalyse Financiële verslaglegging Financial statements Information Rechnungswesen |
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