Analysis for financial management - download pdf or read online

By Robert Higgins

ISBN-10: 0071276262

ISBN-13: 9780071276269

Research for monetary administration, 9/e is a paperback textual content and has been written to offer general concepts and smooth advancements in a pragmatic and intuitive demeanour. it truly is meant for non-financial managers and enterprise scholars drawn to the perform of economic administration. Emphasis is at the managerial functions of monetary research.

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Answers: (1) horizontal analysis; (2) net sales; (3) Liquidity; (4) current assets, current liabilities; (5) Inventory;(6) net credit sales, average accounts receivable; (7) collection period, average age of inventory; (8) stockholders’equity; (9) income before interest and taxes, interest expense; (10) net income, average stockholders’ equity; (11) market price, earnings; (12) yield, payout; (13) (a); (14) cash, cash equivalents, funds; (15) Du Pont formula, total asset turnover; (16) added back, operating activities; (17) operating, financing; (18) equity multiplier; (19) is not; (20) trend analysis; (21) cash dividends; (22) market value of the firm’s stock.

Liquidity risk is minimized by holding greater current assets than noncurrent assets. , marketable securities) is typically less than the rate earned on productive fixed assets. Also, excessively high liquidity may mean that management has not aggressively searched for desirable capital investment opportunities. Maintaining a proper balance between liquidity and return is important to the overall financial health of a business. It must be pointed out that high profitability does not necessarily infer a strong cash flow position.

7 days. The lengthening of the holding period shows a potentially greater risk of obsolescence. Operating Cycle The operating cycle of a business is the number of days it takes to convert inventory and receivables to cash. Hence, a short operating cycle is desirable. 4 days. This is an unfavorable trend since an increased amount of money is being tied up in noncash assets. Cash Conversion Cycle Noncash working capital consists of current assets and liabilities other than cash. One way to view noncash working capital efficiency is to view operations as a cycle—from initial purchase of inventory to the final collection upon sale.

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Analysis for financial management by Robert Higgins

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