内容介绍

内容简介

本书是哈佛大学MBA公司财务报告分析标准教

材，是一本相当成功的教科书。管理者、投资者、

信贷者和公共会计需要知道公司战略及其与公司财

务报告和实践的相互作用，书中向财务报表的使用

者表明如何分析财务报告以甄别公司提供的经济信

息。

作者介绍

作者简介

戴维・F・霍金斯，哈佛大学工商管理研究生院会

计学教授，著名会计学家。

作品目录

ContentsPART ONECorporate Financial Reporting andAnalysis Environment1 IntroductionAuthoritiesFinancial Accounting Standards BoardSecurities and Exchange CommissionAmerican Institute of Certified PublicAccountantsIntemational Accounting StandardsCommitteeBasic IssuesHistorical Cost vs. Current ValuesCookbook vs. General StandardsDisclosure vs. RecognitionExpanding the Accounting ModelTax AccountingManagement AccountingFinancial Reporting DecisionsFinancial AnalysisPART TwoCorporate Financial ReportingFundamentals2 Basic Accounting ConceptsSignificance to UsersBasic ConceptsBusiness EntityGoing ConcemMonetaryAccounting PeriodConsistencyHistorical CostRealizationMatching of Costs and RevenuesDual AspectReliability of EvidenceDisclosureConservatismMaterialitySubstance over FormLimitationsApplicationCase 2-1: Cape Cod Novelty Shop3 Primary Financial StatementsStatement AnalysisStatement ObjectivesGeneral RequirementsStatement of Financial PositionAssetsCurrent AssetsInvestmentsPropertyOther AssetsLiabilitiesCurrent LiabilitiesLong-Term LiabilitiesDeferred CreditsAccumulated ProvisionsOwners' EquityIncome StatementElementsBasic ConventionsExpenditures and ExpensesStatement FonnatInterrelationshipChanges in Owners' EquityOther ConsiderationsNotes to Financial StatementsAuditor's ReportInterim StatementsForecastsSununary of Financial ResultsManagement Discussion and AnalysisTextAppendix A Basic Accounting MechanicsCase 3-1: Marion Boats, Inc.Case 3-2: Superior Clamps, Inc.4 Intercorporate Equity InvestmentsOwnership Interests of Less than 20%Marketable Equity SecuritiesOther Than InvestmentOwnership Interests of More than 20%Cost and Equity Methods lllustratedConsolidated Financial StatementsConsolidationAccounting Concepts Peculiar toConsolidated StatementsProportional ConsolidationEquity Method AdjustmentsConsolidation ProceduresFinancial Analysis ConsiderationsCase 4-1: Productos Azteca (A)Case 4-2: Productos Azteca (B)5 Statement of Cash FlowsBasic Structurc of the Statement of CashFlows 85Computing Cash Flow from OperationsComputing Cash Flow from Investing andFinancing ActivitiesFinancial Analysis Using the Cash FlowStatementCase 5-1: Northrop Corporation Statement ofCash FlowPART TREERole of Certified Public Accountants'Opinion in Corporate Reportingand Analysis6 Independent Auditor's ReportThe Auditing ProfessionThe Auditor's ReportForms of the Audit ReportThe Auditor's WorkThe Audit PlanEvaluation of Intemal ControlsAuditing ProceduresAudit CommitteeDetecting Financial Statement FraudCase 6-1: Elevator Service, IncorporatedCase 6-2: Eagle Tools, IncorporatedCase 6-3: Intemational OilCase 6-4: Precision InstrumentCorporationPABT FOURBasic Financial Statement AnalysisTechniques7 Financial Statement AnalysisA Business AnalysisFinancial Reporting BiasFinancial Ratio AnalysisLiquidity RatiosSolvency RatiosFunds Management RatiosProfitability RatiosLinking RatiosA WamingCommon Stock RatiosEamings per SharePrice-Eamings RatioBook Value per ShareDividend YieldGrowth AnalysisSustainable Growth Rate EquationsBasis of ComparisonTransnational Financial StatementAnalysisFonnatsLanguageDifferent TerminologyCurrenciesAccounting PrinciplesDisclosureTaxCodeLegalCulturalEfficient MarketsCritical SkillCase 7-1: Assessing a Company's FutureFinancial HealthCase 7-2: First Investments, Inc : Analysis ofFinancial StatementsCase 7-3: Identify the IndustriesCase 7-4: Scranton Fumiture Company8 Quality of Earnings AnalysisQuality of Eamings ConceptKey DetenninantsFinancial and OperatingConsiderationsIndustryRelationship to Earnings MultiplesAssessing QualityTwo Common ApplicationsThe SignalsNot Now, but LaterCurrent SignalsLowering the CostOther Applications and MeasurementsManagement AppraisalRelative QualityAdjusted or Not AdjustedVolatility and RiskA Useful ToolCase 8-1: The News Corporation Limited:Quality of Eamings AnalysisCase 8-2: Kendall Square ResearchCorporation (A)Case 8-3: National Electric Corporation9 Growth Rate AnalysisOptimum StrategiesExceptionsOther StrategiesFinancial StrategiesSustainable Growth Rate EquationsActual versus IndicatedSources of GrowthEamings-per-Share GrowthAnalysis of Income ChangesReal versus NominalAdditional AnalysisAppendix A Measurement of GrowthCase 9-1: Butler Lumber CompanyCase 9-2: The Home Depot, Inc.PAKT FlVEMeasurement and Analysis of IncomelO Revenue RecognitionRecognitionRevenue Recognition MethodsNonmonetary TransactionsRight of RetumProduct Financing AgreementsInappropriate Interest RatesAccounting for Bad DebtsDirect Write-Off MethodBad Debt Estimation MethodPinancial Statement PresentationWarranties and Service GuaranteesRealization ControversyAnalytical ConsiderationsCase l0-l: D.C. Electrical, Inc.Case 10-2: Accounting for FrequentFliersCase l0-3: Patten Corporation11 Extraordinary and Unusual Items,Discontinued Operations, andAccounting ChangesCurrent PresentationTwo Points of ViewExtraordinary ItemsUnusual Events and TransactionsDisccontinuance or Disposal of a BusinessSegmentAccounting Principle, Estimate, and EntityChangesPrinciple ChangesChanges in Accounting EstimatesChanges in the EntityMaterialityCorrection of an ErrorFinancial AnalysisCase ll-l: Agro Feed ProductsIncorporated12 Basic and Diluted Earnings perShareDual Presentation: A SummaryInvestors' PreferenceLegal ConsiderationsSimple Capital StructureslllustrationDiluted Eamings per ShareComputation ExampleTreasury Stock MethodComputation ExampleWeighted Average ComputationsDividends-per-ShareFinancial AnalysisCase 12-1: Lustra S.p.A. (A)Case 12-2: Lustra S.p.A. (B)Case 12-3. Lustra S.p.A. (C)rART SlXAsset and Expense Reporting andAnalysis13 Income TaxesTax Expense ComponentsDifferent ApproachesFirst-Year TaxesSecond-Year TaxesDeferred Tax AssetFASB Statement No.Balance Sheet ApproachComprehensive ApproachExamplesValuation AllowanceEnacted Change in Tax Laws or RatesTax AllocationsExemptionsDisplayFinancial AnalysisCase 13-l: Grand Metropolitan PLC14 Long-Lived Fixed AssetsCapitalization CriteriaCost BasisExpenditures Subsequent to Acquisition andUseMaintenance and RepairsBettennents, Improvements, andAdditionsLandWasting AssetsAltemative Measurement ProposalsDepreciationComputing DepreciationEstimating the Useful Life of FixedAssetsResidual ValueDepreciation MethodsStraight-Line DepreciationAccelerated DepreciationUnits-of-Production DepreciationAccounting for DepreciationGroup DepreciationDepreciation and Federal Income TaxDepreciation Schedule RevisionsDepreciation Method ChangesAdditionsAsset Write-DownsWritten-Up AssetsAccounting for RetirementsCapital Investment DecisionsDepletionDepreciation DecisionsAsset ImpainnentsAnalysis of Fixed AssetsDepreciation Analytical ConsiderationsCase 14-1: Electrical, Mining, and Industrial(EMl) CorporationCase 14-2: United Kingdom PropertiesTrust15 Changing PricesMeasures of InnflationBusiness ConsiderationsPurchasing PowerPerformance MeasurementAdjustmentsIntemal MeasurementsAccounting RequirementsReal AnalysisControversial MethodAppendix A Cruzeiro CorporationExampleCase 15-1: Discount MartCase 15-2: Telefonos De MexicoS.A. de C.V.16 Intangible AssetsAuthoritative SourcesRole of JudgmentFinancial AnalysisManagement SignalsCoping with DiversityCase 16-1: SKA (Sweden)Case 16-2 Stone and Sons LimitedCase 16-3 Homeamings Reverse MortgageGroup (A)Case 16-4 Homearnings Reverse MortgageGroup (B)17 InventoryInventory PricingPeriodic and Perpetual InventorySystemsCost or Market, Whichever Is LowerInventory AnalysisCase 17-1 Summit DistributorsCase 17-2 Daniel Dobbins Distillery,Inc18 Business CombinationsPurchase MethodPurchase Method lllustrationGoodwillOnly from Acquisition DatePrincipal IssuesPooling of Interests MethodPooling of Interests lllustrationAPB Opinion No. 76Ninety Percent TestAccounting MechanicsReporting RequirementsContinuing ControversyFinancial AnalysisCase 18-1 Comptrex' Associates, Inc.Case 18-2 Medaphis CorporationPART SEVENLong-Term Financial CommitmentReporting and Analysis19 Financial InstrumentsCharacteristics of Long-Term DebtFinancial ConsiderationValuationInvestment RiskRating AgenciesBond RatingsRating ConsiderationsIndentureAsset ProtectionFuture Eaming PowerFinancial ResourcesManagementIssuer's AccountingAmortization of Bond Premium andDiscountExtinguishment before MaturityExtinguishment of LiabilitiesTroubled Debt RestructuringConvertible DebtConversionDebt Issued with Stock WarrantsClassification of Short-Tenn Debt Expectedto Be RefinancedClassification of Obligations That AreCallableInappropriate Interest RatesImpaired LoansTransfers of Financial AssetsBuyer's AccountingInterest IncomeTroubled Debt RestructuringFASB Statement No.Derivatfve Financial InstrumentsDisclosure StandardsFinancial Analysis and Decision ModelsCash Flow FocusCase 19-1 Franklin CorporationCase l9-2 First Securities, Inc.20 Case 19-3 Bishay IndustriesLeasesLeasing PracticeLease AccountingLessee's StatementsLessor's StatementsSale and LeasebackFinancial AnalysisCase 20-1 Teltronica S.A.Case 20-2 Security Plus, Inc.21 Retiree BenefitsPension PlansValuationAssumptionsBenefit FormulasFunding Instruments and AgenciesEmployee Retirement Income SecurityActIncome Tax ConsiderationsVestingPension AccountingKey TermsNet Periodic Pension CostAccounting lllustratedOther PlansSettlements and CurtailmentsPostretirement BenefitsFASB Statement No.ScopeObligationNet Periodic Postretirement Benefit CostAccounting lllustratedImmediate RecognitionDelayed RecognitionCurtailments and SettlementsMultiemployer PlansDeferred Compensation ContractsFinancial AnalysisCase 21-1 Intemational Paper (A)Case 2l-2 Intemational Paper (B)PART ElGHTstocKnoiaers Equity Keporting andAnalysis22 Stockholders' EquityStockholders' EquityCommon Stock AccounisPreferred StockTreasury Stock"Greenmail"DividendsLegal ObligationStock Dividends and SplitsStock-Based CompensationSummaryIntrinsic Value Method ExplainedFair Value MethodOther PlansIntrinsic Value Method ExplainedFair Value Method ExplainedDisclosure RequirementsStock Purchase LoansEmployee Stock Ownership PlansOther AccountsStockholders' Equity AnalysisStockholders' Book ValueOther InformationBuybacksChanging Nature of Debt and EquityDistinctionCase 22-1 Nutra FoodsPART NlNESpecial Reporting and Analysis Issues23 Foreign ActivitiesExchange RatesForeign Currency TransactionsConsolidated StatementsStable Exchange RateFluctuating Exchange RateFASB Statement No. 52Functional CurrencyCurrent-Rate MethodRemeasurementEconomic HedgesHighly Inflationary EconomiesMeasurement and MotivationStatement AnalysisControversial SubjectCase 23-1 A. B, Deutz GmbH24 Disaggregated Business DisclosuresManagement UnitOil and Gas ReservesTnvcctor .Slirvevs 85Corporate ViewpointCommon CostsTransfer PricesAnalytical Value and TechniquesCase 24-1 Value InvestmentManagement25 Interun Period ReportsInherent ProblemsToo ShortLimited TimeAltemative ObjectivesAPB Opinion 28RevenuesProduct CostsOther CostsExtraordinary and Unusual ItemsRole and LimitationsCase 25-1 Champion Intemational26 ContingenciesFASB Statement No. 5Accounting EntriesLoss Contingencies Subsequent to the BalanceSheet DateAccounts Receivable and WarrantyObligationsSelf-lnsuranceLitigation, Claims, and AssessmentsThreat of ExpropriationCatastrophe LossesIndirect Guarantees of IndebtednessContingency GainsRestructuringEnvironmental Remediation CostsObjectionsFinancial AnalysisCase 26-1 Global Industries, AG27 Intemational Accounting Standards andTransnational Financial AnalysisIntemational Accounting StandardsTransnational Financial AnalysisFormatsLanguageDifferent TenninologyCurrenciesAccounting PrinciplesDisclosureTxCodeLegalCulturalCoping with Accounting DiversityLeam the Range of DifferencesLowering the Cost of InformationPushing Costs Even LowerStep l: Classify Accounting PolicyStep 2: Complete the WorksheetU.S. GAAP Model PreferredCase 27-1 Daimler-Benz AGAppendix Present Value TablesIndexesCase IndexSubject Index