Techniques of financial analysis: a modern approach
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Chicago [u.a.]
Irwin
1997
|
| Ausgabe: | 9. ed. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XIX, 457 S. graph. Darst. |
| ISBN: | 0786311207 025614611X |
Internformat
MARC
| LEADER | 00000nam a2200000 c 4500 | ||
|---|---|---|---|
| 001 | BV011235827 | ||
| 003 | DE-604 | ||
| 005 | 00000000000000.0 | ||
| 007 | t | ||
| 008 | 970307s1997 d||| |||| 00||| eng d | ||
| 020 | |a 0786311207 |9 0-7863-1120-7 | ||
| 020 | |a 025614611X |9 0-256-14611-X | ||
| 035 | |a (OCoLC)51622216 | ||
| 035 | |a (DE-599)BVBBV011235827 | ||
| 040 | |a DE-604 |b ger |e rakddb | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-703 |a DE-92 |a DE-11 |a DE-188 | ||
| 050 | 0 | |a HG4026 | |
| 082 | 0 | |a 658.151 |2 20 | |
| 084 | |a QP 700 |0 (DE-625)141926: |2 rvk | ||
| 084 | |a QP 730 |0 (DE-625)141930: |2 rvk | ||
| 100 | 1 | |a Helfert, Erich Anton |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Techniques of financial analysis |b a modern approach |c Erich A. Helfert |
| 250 | |a 9. ed. | ||
| 264 | 1 | |a Chicago [u.a.] |b Irwin |c 1997 | |
| 300 | |a XIX, 457 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 650 | 4 | |a Cash flow | |
| 650 | 4 | |a Corporations |x Finance | |
| 650 | 4 | |a Financial statements | |
| 650 | 4 | |a Ratio analysis | |
| 650 | 0 | 7 | |a Finanzanalyse |0 (DE-588)4133000-6 |2 gnd |9 rswk-swf |
| 655 | 7 | |8 1\p |0 (DE-588)4123623-3 |a Lehrbuch |2 gnd-content | |
| 689 | 0 | 0 | |a Finanzanalyse |0 (DE-588)4133000-6 |D s |
| 689 | 0 | |5 DE-604 | |
| 856 | 4 | 2 | |m HBZ Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007540448&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-007540448 | ||
| 883 | 1 | |8 1\p |a cgwrk |d 20201028 |q DE-101 |u https://d-nb.info/provenance/plan#cgwrk | |
Datensatz im Suchindex
| _version_ | 1804125736499412992 |
|---|---|
| adam_text | CONTENTS
Introduction
Chapter 1
A Financial Systems Context for Business 1
A Dynamic Perspective of Business 2
Decision Context 2
The Business System 5
Investment Decisions 8
Operations Decisions 9
Financing Decisions 11
Internal Assumptions 13
Interrelationship of Strategy and Value Creation 14
The Nature of Financial Statements 15
The Balance Sheet 16
The Operating Statement 18
The Cash Flow Statement 20
The Statement of Changes in Owners (Shareholders ) Equity 23
The Context of Financial Analysis 28
Chapter 2
Managing Operating Funds 35
Funds Flow Cycles 37
The Funds Cycle for Manufacturing 40
The Funds Cycle for Sales 43
Variability of Funds Flows 45
Growth/Decline Variations 45
Seasonal Variations 48
Cyclical Variations 50
Generalized Cash Flow Model 52
Interpreting Funds Flow Data 53
Funds Management and Shareholder Value 61
Cash Management 61
Working Capital Management 62
Investment Management 63
ix
x Techniques of Financial Analysis
Chapter 3
Assessment of Business Performance 71
Ratio Analysis and Performance 71
Management s Point of View 73
Operational Analysis 73
Resource Management 81
Profitability 86
Owners Point of View 89
Profitability 89
Disposition of Earnings 94
Market Indicators 96
Lenders Point of View 98
Liquidity 98
Financial Leverage 100
Debt Service 102
Ratios as a System 104
Elements of Return on Assets 104
Elements of Return on Equity 105
Integration of Financial Performance Analysis 107
Selected Special Issues 110
Inventory Costing 110
Depreciation Methods 112
The Impact of Inflation 114
Chapter 4
Projection of Financial Requirements 129
Pro Forma Financial Statements 130
Pro Forma Operating Statement 131
Pro Forma Balance Sheet 134
Pro Forma Cash Flow Statement 138
Cash Budgets 139
Operating Budgets 143
Sales Budget 144
Factory Budget 146
Interrelationship of Financial Projections 146
Financial Modeling and Sensitivity Analysis 149
Sensitivity Analysis 151
CONTENTS xi
Chapter 5
Dynamics of the Business System 161
Leverage 162
Operating Leverage 162
Target Profit Analysis 172
Financial Leverage 172
Financial Growth Plans 176
Basic Financial Growth Model 177
Sustainable Growth and the Sustainable Growth Formula 180
Integrated Financial Plan 181
Chapter 6
Analysis of Investment Decisions 187
Strategic Perspective 188
The Decisional Framework 191
Problem Definition 191
Nature of the Investment 193
Future Costs and Benefits 194
Incremental Cash Flows 194
Relevant Accounting Data 195
Sunk Costs 196
The Time Value of Money 196
Components of Analysis 197
Net Investment 198
Net Operating Cash Inflows 198
Economic Life 199
Terminal Value 199
Methods of Analysis 199
Simple Measures 200
Economic Investment Analysis 202
Refinements of Investment Analysis 220
Example One: A Machine Replacement 220
Example Two: Business Expansion 228
Mutually Exclusive Alternatives 230
Actual Results Below Estimates 231
When to Use the Investment Measures 232
Some Further Considerations 234
Leasing 234
xjj Techniques of Financial Analysis
Accelerated Depreciation 235
Inflation and Investment Analysis 235
Accuracy 236
Key Issues 236
Chapter 7
The Cost of Capital and Business Decisions 245
Cost of Capital and Financial Decisions 245
Investment Decisions 246
Operational Decisions 247
Financing Decisions 247
Cost of Operating Funds 248
Cost of Long Term Debt 251
Cost of Owners Equity 253
Preferred Stock 253
Common Equity 254
Weighted Cost of Capital 259
Cost 260
Weighting 260
Market versus Book Values 261
Calculating the Weighted Cost of Capital 261
Cost of Capital and Return Standards 264
Cost of Capital as a Cutoff Rate 264
Risk Categories 266
Cost of Capital in Multibusiness Companies 267
Multiple Rate Analysis 268
Key Issues 269
Chapter 8
Analysis of Financing Choices 273
Framework for Analysis 274
Cost of Incremental Funds 274
Risk Exposure 275
Flexibility 276
Timing 276
Control 277
The Choice 277
Techniques of Calculation 278
Current Performance 278
CONTENTS xiH
Long Term Debt in the Capital Structure 279
Preferred Stock in the Capital Structure 283
Common Stock in the Capital Structure 284
EBIT Break Even Chart 287
Some Special Forms of Financing 293
Convertible Securities 293
Stock Rights 294
Warrants 295
Leasing 295
The Optimal Capital Structure 296
Key Issues 297
Chapter 9
Valuation and Business Performance 303
Definitions of Value 304
Economic Value 304
Market Value 304
Book Value 305
Liquidation Value 305
Breakup Value 306
Reproduction Value 306
Collateral Value 306
Assessed Value 307
Appraised Value 307
Going Concern Value 307
Shareholder Value 308
Value to the Investor 308
Bond Values 308
Preferred Stock Values 314
Common Stock Values 316
Specialized Valuation Issues 321
Business Valuation 322
Valuing the Equity 323
Valuing the Total Company 324
Value in Restructuring and Combinations 328
Integration of Value Analysis 333
Managing for Shareholder Value 336
Key Issues 339
xiv Techniques of Financial Analysis
Appendix I Glossary of Key Concepts 347
Appendix II Some International Issues in Business Analysis 363
Appendix III Basic Inflation Concepts 370
Appendix IV Sources of Financial Information 376
Appendix V Solutions to Self Study Problems Plus Questions for
Discussion 391
Index 449
|
| any_adam_object | 1 |
| author | Helfert, Erich Anton |
| author_facet | Helfert, Erich Anton |
| author_role | aut |
| author_sort | Helfert, Erich Anton |
| author_variant | e a h ea eah |
| building | Verbundindex |
| bvnumber | BV011235827 |
| callnumber-first | H - Social Science |
| callnumber-label | HG4026 |
| callnumber-raw | HG4026 |
| callnumber-search | HG4026 |
| callnumber-sort | HG 44026 |
| callnumber-subject | HG - Finance |
| classification_rvk | QP 700 QP 730 |
| ctrlnum | (OCoLC)51622216 (DE-599)BVBBV011235827 |
| dewey-full | 658.151 |
| dewey-hundreds | 600 - Technology (Applied sciences) |
| dewey-ones | 658 - General management |
| dewey-raw | 658.151 |
| dewey-search | 658.151 |
| dewey-sort | 3658.151 |
| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
| edition | 9. ed. |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>01619nam a2200445 c 4500</leader><controlfield tag="001">BV011235827</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">00000000000000.0</controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">970307s1997 d||| |||| 00||| eng d</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">0786311207</subfield><subfield code="9">0-7863-1120-7</subfield></datafield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">025614611X</subfield><subfield code="9">0-256-14611-X</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)51622216</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV011235827</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rakddb</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-703</subfield><subfield code="a">DE-92</subfield><subfield code="a">DE-11</subfield><subfield code="a">DE-188</subfield></datafield><datafield tag="050" ind1=" " ind2="0"><subfield code="a">HG4026</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">658.151</subfield><subfield code="2">20</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QP 700</subfield><subfield code="0">(DE-625)141926:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QP 730</subfield><subfield code="0">(DE-625)141930:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Helfert, Erich Anton</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Techniques of financial analysis</subfield><subfield code="b">a modern approach</subfield><subfield code="c">Erich A. Helfert</subfield></datafield><datafield tag="250" ind1=" " ind2=" "><subfield code="a">9. ed.</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Chicago [u.a.]</subfield><subfield code="b">Irwin</subfield><subfield code="c">1997</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">XIX, 457 S.</subfield><subfield code="b">graph. Darst.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Cash flow</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Corporations</subfield><subfield code="x">Finance</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Financial statements</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Ratio analysis</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Finanzanalyse</subfield><subfield code="0">(DE-588)4133000-6</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="655" ind1=" " ind2="7"><subfield code="8">1\p</subfield><subfield code="0">(DE-588)4123623-3</subfield><subfield code="a">Lehrbuch</subfield><subfield code="2">gnd-content</subfield></datafield><datafield tag="689" ind1="0" ind2="0"><subfield code="a">Finanzanalyse</subfield><subfield code="0">(DE-588)4133000-6</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2=" "><subfield code="5">DE-604</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">HBZ Datenaustausch</subfield><subfield code="q">application/pdf</subfield><subfield code="u">http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007540448&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-007540448</subfield></datafield><datafield tag="883" ind1="1" ind2=" "><subfield code="8">1\p</subfield><subfield code="a">cgwrk</subfield><subfield code="d">20201028</subfield><subfield code="q">DE-101</subfield><subfield code="u">https://d-nb.info/provenance/plan#cgwrk</subfield></datafield></record></collection> |
| genre | 1\p (DE-588)4123623-3 Lehrbuch gnd-content |
| genre_facet | Lehrbuch |
| id | DE-604.BV011235827 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T18:06:18Z |
| institution | BVB |
| isbn | 0786311207 025614611X |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-007540448 |
| oclc_num | 51622216 |
| open_access_boolean | |
| owner | DE-703 DE-92 DE-11 DE-188 |
| owner_facet | DE-703 DE-92 DE-11 DE-188 |
| physical | XIX, 457 S. graph. Darst. |
| publishDate | 1997 |
| publishDateSearch | 1997 |
| publishDateSort | 1997 |
| publisher | Irwin |
| record_format | marc |
| spelling | Helfert, Erich Anton Verfasser aut Techniques of financial analysis a modern approach Erich A. Helfert 9. ed. Chicago [u.a.] Irwin 1997 XIX, 457 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Cash flow Corporations Finance Financial statements Ratio analysis Finanzanalyse (DE-588)4133000-6 gnd rswk-swf 1\p (DE-588)4123623-3 Lehrbuch gnd-content Finanzanalyse (DE-588)4133000-6 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007540448&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Helfert, Erich Anton Techniques of financial analysis a modern approach Cash flow Corporations Finance Financial statements Ratio analysis Finanzanalyse (DE-588)4133000-6 gnd |
| subject_GND | (DE-588)4133000-6 (DE-588)4123623-3 |
| title | Techniques of financial analysis a modern approach |
| title_auth | Techniques of financial analysis a modern approach |
| title_exact_search | Techniques of financial analysis a modern approach |
| title_full | Techniques of financial analysis a modern approach Erich A. Helfert |
| title_fullStr | Techniques of financial analysis a modern approach Erich A. Helfert |
| title_full_unstemmed | Techniques of financial analysis a modern approach Erich A. Helfert |
| title_short | Techniques of financial analysis |
| title_sort | techniques of financial analysis a modern approach |
| title_sub | a modern approach |
| topic | Cash flow Corporations Finance Financial statements Ratio analysis Finanzanalyse (DE-588)4133000-6 gnd |
| topic_facet | Cash flow Corporations Finance Financial statements Ratio analysis Finanzanalyse Lehrbuch |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007540448&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT helferterichanton techniquesoffinancialanalysisamodernapproach |