Xrhmatoikonomikh Analysi
146
1 ΧΡΗΜΑΤΟΟΙΚΟΝΟΜΙΚΗ ΑΝΑΛΥΣΗ ΛΟΓΙΣΤΙΚΩΝ ΚΑΤΑΣΤΑΣΕΩΝ ΑΘΗΝΑ 2008
description
Xrhmatoikonomikh Analysi
Transcript of Xrhmatoikonomikh Analysi
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(General Perspective of Financial Analysis)
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(Tools and techniques of financial accounting)
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2.2. (Vertical Analysis)
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(Common size statements) 100%.
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(Ratio Analysis)
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(Standard
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1. (Activity ratios).
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3. (Profitability ratios).
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5. (Investment ratios).
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(ACTIVITY RATIOS)
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4.2.1. (Trade creditors to purchases ratio)
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4.2.2. (Inventories turnover ratio)
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4.2.3. (Receivables turnover ratio)
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4.2.4. (Net Working capital turnover ratio)
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4.2.6. (Owners equity turnover ratio)
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(LIQUIDITY RATIOS)
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5.2.1. (Current ratio)
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5.2.4. (Cash ratio)
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(PROFITABILITY RATIOS)
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6.2.1. (Net profit margin)
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6.2.4. (Return to total capital employed)
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6.2.8. (Ratio of maintenance and repairs to net sales)
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6.2.9. (Ratio of depreciation o fixed assets)
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6.2.10. (Ratio of depreciation to net sales)
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(FINANCIAL STRUCTURE AND VIABILITY RATIOS)
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7.2.1. (Ratio of owners to fixed assets)
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7.2.2.
(Ratio owners equity to total assets)
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7.2.4. (Ratio of current assets to total liabilities)
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7.2.6. (Ratio of fixed assets to long term liabilities)
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(INVESTMENT RATIOS)
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8.2.1. (Dividends per share)
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8.2.2. (Earnings per share E.P.S.)
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8.2.3. (Dividend yield on equity capital)
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8.2.6. (Cash flow per share)
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8.2.7. (Price earnings ratio)
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P/E
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(OPERATING EXPENSE RATIOS)
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9.2.3. (Ratio fixed assets to average number of employees)
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9.2.5. (Operating ratio)
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10.1. (Trend percentages)
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10.2. (Time series analysis of common size statements)
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10.3.
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1988,
. 1988 Financial Accounting Board (F.A.S.B.)
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12.2.
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............................................. 950
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................................................ 1.200
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12.3. .
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............................ 450000
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.........................160000......................... 240000
................................................ 340000
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4500000 .
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1130000 .
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-
127
12.6.
1/1 31/12/201
: ........................................1000000 .
....... .............. 50000 .
................................... 1050000 .
& .......(580000) .
.................................................( 45000) .
/ ..........................( 30000) . (655000) .
........................... 395000 . : ............................................ ( 45000) .
...................................... ( 20000) .
.............................................. ( 10000) .
............................................ ( 5000) .
..................................................... (170000) .
................................ ( 50000) .
...................................... 375000 . / :
...................................... 160000 .
............. 50000 .
................................................ 150000 .
/ ............. 260000 .
/ .................................
.................................
.............................................................
-
128
12.4.
,
.
.
,
, :
1. ,
,
.
2. ,
,
.
3. ,
.
4.
,
.
:
1.
.
2. .
-
129
:
1.
.
2. .
.
:
=
+ + = + +
.
.
. ,
.
,
,
.
-
130
.
(current assets).
,
,
.
,
,
,
.
,
, .
,
,
, ,
.
,
.
,
,
.
-
131
, ,
,
,
.
(common sizes)
,
.
.
,
.
12.5.
,
.
.
,
.
,
,
:
-
132
, .
,
.
,
,
.
,
,
.
,
.
,
,
,
,
,
.
-
133
13
.
,
.
(break even point)
,
, .
,
. , , ,
.. .
,
.
, ,
.
,
.
,
.
.
-
134
.
,
,
, .
, .
,
,
.
13.1.
,
( , , , ..)
:
1. ,
.
2. ,
.
. ,
,
.
, ,
-
135
.
:
1.
.
2.
.
3.
.
4.
, ,
.
5. .
.
,
.
,
,
,
, , ..
,
.
,
.
:
-
136
1.
,
.
2. ,
.
3. , ,
.
,
:
1. .
2. ,
.
3.
, .
,
.
,
.
,
. ,
,
-
137
,
.
,
,
.
,
.
:
, -
.
, .
, .
, .
, , ..
.
.
-
138
13.2. (Break even techniques)
.
1. .
2. .
3. .
13.2.1. (The contribution margin method) ,
.
,
.
. , 40 .
8 . ,
32
. :
40 .
:
8 .
32 .
-
139
32 . ,
:
+ = S + K = P - V : X = S = P = / V = / K = , P V = /
, :
-
=
-
140
( P V ) = P V = 1 - P :
=
P = /
V = /
,
:
S + K S + K X = = ( P V ) V 1 - P P S X = : X = S = = / = ,
-
141
,
, :
= + = + 1 - S + K S = X = 1 - V / P
-
142
13.2.2. (The equation method)
,
,
:
= + +
= S + +
:
=
S =
=
=
,
:
= S +
,
, :
-
143
P.X. = S + V * X + K :
P = /
=
S =
V = /
= ,
, :
P * X V * X = S
X ( P V ) = S
S X = ( P V ) ,
( P V ) ,
.
( ),
,
:
-
144
= V = P :
=
V =
P =
= + V V = S + X X - X = S P P S S X . X = S X ( 1 ) = S X = = 1 - V / P 1 - : X = V = P = = S =
-
145
13.3.3. (The graph method)
, , .
,
,
.
,
.
,
.
,
,
,
.
,
,
.
,
,
.
,
,
.
.
,
,
.
-
146
.
,
.
.
, .
, ,
,
.
,
.
,
:
= 100x
(Margin of ()
safety ratio)
=
.
