财务分析报表的DNA_损益表_现金流量表_资产负债表_金多多教育

Financial Statement DNA

Introduction

Analysts do not need to be accountants; however they must be excellent command of the numbers that are reported in a set of financial statements as well as those that are analysed by research brokers.

The skill with the numbers will be used to:

• Extract and normalise financials for analysis
• Analyse the performance, leverage, liquidity and efficiency
• Forecast the financials, often under different scenarios, going forward
  

• Assess the financial impacts of a proposed investment, acquisition, disposal, divestment, refinancing, etc
  

• Build consistent multiples for comps purposes
• Derive forecast cash flows for DCF valuation purposes
• Combine bidder and target entities in order to assess the EPS, return on investment and credit rating impacts of an acquisition
• Assess risk and then price that risk into the financial products offered on behalf of clients
  

• We will examine the DNA of a set of financials, building the ideas from the 'bottom up'.
  

• Financial statement DNA
  

• A set of financial statements will include the three key financial statement:
  

Balance sheet

Income statement

Cash flow statement

Before any of these statements can be examined in detail, the DNA of the financial statements must be picked apart. A set of financials is derived from five key fragments which, when sequenced together, produce the financial statements.

The five financial statement DNA fragments are:

• Assets
  

• Liabilities
  

• Expenses
  

• Equity
• Income
  

• 成为行业分析师PE估值建模     
  

• 投行行业研究估值建模   
• 行业研究报告撰写   
  

• 行业研究报告写作
  

2012/5/27 22:13