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FINANCIAL STATEMENT ANALISYS Eleventh Edition,K. R. Subramanyam

  Judul Buku : FINANCIAL STATEMENT ANALISYS Eleventh Edition

Judul Buku:FINANCIAL STATEMENT ANALISYS Eleventh Edition
Pengarang:K. R. Subramanyam
Penerbit:McGRAW-HILL International Edition
Cetakan:Eleventh Edition
Tahun Terbit:2014
Bahasa:Inggris
Jumlah Halaman:701
Kertas Isi:HVS
Cover:Soft
Ukuran:20 x 26
Berat:1500
Kondisi:Baru
Harga: Rp401,000


Stock:1


FINANCIAL STATEMENT ANALISYS Eleventh Edition
Pengarang : K. R. Subramanyam
Penerbit : McGRAW-HILL International Edition

CONTENT

1 Overview of Financial Statement Analysis 2
Business Analysis 4
Introduction to Business Analysis 4 Types of Business Analysis 8 Components of Business Analysis 10
Financial Statements—Basis of Analysis 15
Business Activities 15
Financial Statements Reflect Business Activities 19
Additional Information 26
Financial Statement Analysis Preview 27
Analysis Tools 27
Valuation Models 40
Analysis in an Efficient Market 44 Book Organization 46

2 Financial Reporting and Analysis 66
Reporting Environment 68
Statutory Financial Reports 68
Factors Affecting Statutory Financial Reports 70
Nature and Purpose of Financial Accounting 75
Desirable Qualities of Accounting
Information 75
Important Principles of Accounting 76
Relevance and Limitations of Accounting 77
Accruals—Cornerstone of Accounting 79
Accrual Accounting An Illustration 80
Accrual Accounting Framework 81
Relevance and Limitations of Accrual Accounting 84
Analysis Implications of Accrual Accounting 88
Concept of Income 91
Economic Concepts of Income 92
Accounting Concept of Income 93
Analysis Implications 95
Fair Value Accounting 97
Understanding Fair Value Accounting 97
Considerations in Measuring Fair Value 100
Analysis Implications 103
Introduction to Accounting Analysis 106
Need for Accounting Analysis 106
Earnings Management 108
Process of Accounting Analysis 112
Appendix 2A:
Earnings Quality 114

3 Analyzing Financing Activities 132
Debt Financing 134
Accounting for Debt 135
Debt-Related Disclosures 138
Analyzing Debt Financing 138
Protections 142
Leases 145
Accounting and Reporting for Leases 146
Analyzing Leases 150
Restating Financial Statements for Lease Reclassification 154
Contingencies and
Commitments 156
Contingencies 156
Commitments 158
Off-Balance-Sheet Financing 159
Off-Balance-Sheet Examples 159
Shareholders' Equity 166
Capital Stock 167
Retained Earnings 170
Book Value per Share 172
Liabilities at the "Edge" of Equity 174
Shareholders' Equity Reporting under IFRS 177
Appendix 3A:
Lease Accounting and
Analysis—Lessor 178
Appendix 3B: Postretirement Benefits 179
Appendix 3C: Accounting Specifics for Postretirement Benefits 196

4 Analyzing Investing Activities 226
Introduction to Current Assets 228
Cash and Cash Equivalents 229
Receivables 230
Prepaid Expenses 234
Inventories 234
Inventory Accounting and Valuation 234
Analyzing Inventories 236
Introduction to Long-Term Assets 243
Accounting for Long-Term Assets 243
Capitalizing versus Expensing: Financial Statement and Ratio Effects 245
Plant Assets and Natural Resources 245
Valuing Plant Assets and Natural Resources 246
Depreciation 246
Analyzing Plant Assets and Natural Resources 250
Intangible Assets 254 Accounting for Intangibles 254
Analyzing Intangibles 255
Unrecorded Intangibles and Contingencies 256
Asset Revaluations under IFRS 258
Accounting Treatment 258 Revaluation Disclosures 259
Analysis Implications 260

5 Analyzing Investing Activities: Intercorporate Investments 274
Investment Securities 276
Accounting for Investment Securities 277
Disclosures for Investment Securities 281
Analyzing Investment Securities 281
Equity Method Accounting 284
Equity Method Mechanics 285
Analysis Implications of Intercorporate Investments 287
Business Combinations 288
Accounting for Business Combinations 289
Issues in Business
Combinations 293
Derivative Securities 299
Defining a Derivative 300
Accounting for Derivatives 300
Disclosures for Derivatives 303
Analysis of Derivatives 303
The Fair Value Option 307
Fair Value Reporting Requirements 307
Fair Value Disclosures 307
Analysis Implications 310
Appendix 5A:
International Activities 311
Appendix 5B:
Investment Return Analysis 320

6 Analyzing Operating Activities 338
Income Measurement 340
Income Concepts—A Recap 340
Measuring Accounting Income 341
Alternative Income Classifications
and Measures 342
Nonrecurring Items 347
Extraordinary Items 347 D
iscontinued Operations 349
Accounting Changes 351
Special Items 354
Revenue Recognition 361
Guidelines for Revenue
Recognition 362
Analysis Implications of Revenue Recognition 364
Deferred Charges 366
Research and Development 366
Computer Software Expenses 369
Exploration and Development Costs in Extractive Industries 369
Supplementary Employee Benefits 370
Overview of Supplementary Employee Benefits 370
Employee Stock Options 371 Interest Costs 377
Interest Computation 377 Interest Capitalization 377
Analyzing Interest 377
Income Taxes 378
Accounting for Income Taxes 378
Income Tax Disclosures 382
Analyzing Income Taxes 382
Appendix 6A:
Earnings per Share: Computation and Analysis 385
Appendix 6B:
Accounting for Employee
Stock Options 389

7 Cash Flow Analysis 416
Statement of Cash Flows 418
Relevance of Cash 418
Reporting by Activities 419
Constructing the Cash Flow Statement 419
Special Topics 424
Direct Method 425
Analysis Implications of Cash Flows 427
Limitations in Cash Flow
Reporting 427
Interpreting Cash Flows and Net Income 427
Analysis of Cash Flows 429
Case Analysis of Cash Flows of Campbell Soup 430
Inferences from Analysis of Cash Flows 430
Alternative Cash Flow Measures 431
Company and Economic
Conditions 432
Free Cash Flow 433
Cash Flows as Validators 434
Specialized Cash Flow
Ratios 434
Cash Flow Adequacy Ratio 434
Cash Reinvestment Ratio 435
Appendix 7A:
Analytical Cash Flow Worksheet 435

8 Return on Invested Capital and Profitability Analysis 460
Importance of Return on Invested Capital 462
Measuring Managerial Effectiveness 462
Measuring Profitability 463
Measure for Planning and Control 463
Components of Return on Invested Capital 463
Defining Invested Capital 464
Adjustments to Invested Capital and Income 465
Computing Return on Invested Capital 465
Analyzing Return on Net Operating Assets 470
Disaggregating Return on Net Operating Assets 470
Relation between Profit Margin and Asset Turnover 471
Analyzing Return on Common Equity 478
Disaggregating the Return on Common Equity 479
Computing Return on Invested Capital 481
Assessing Growth in Common Equity 485
Appendix 8A: Challenges of Diversified Companies 486

9 Prospective Analysis 506
The Projection Process 508
Projecting Financial Statements 508
Application of Prospective Analysis in the Residual Income Valuation Model 515
Trends in Value Drivers 518
Appendix 9A:
Short-Term Forecasting 520

10 Credit Analysis 542
Section 1: Liquidity 544
Liquidity and Working
Capital 544
Current Assets and Liabilities 545
Working Capital Measure of Liquidity 546
Current Ratio Measure of Liquidity 546
Using the Current Ratio for Analysis 548
Cash-Based Ratio Measures of Liquidity 552
Operating Activity Analysis of Liquidity 553
Accounts Receivable Liquidity Measures 553
Inventory Turnover Measures 555
Liquidity of Current Liabilities 558
Additional Liquidity Measures 559
Current Assets Composition 559
Acid-Test (Quick) Ratio 559
Cash Flow Measures 559
Financial Flexibility 560
Management's Discussion and Analysis 560
What-If Analysis 560

Section 2: Capital Structure and Solvency 563
Basics of Solvency 563
Importance of Capital Structure 563
Motivation for Debt Capital 565
Adjustments for Capital Structure Analysis 567
Capital Structure Composition and Solvency 568
Common-Size Statements in Solvency Analysis 569
Capital Structure Measures for Solvency Analysis 569
Interpretation of Capital Structure Measures 571
Asset-Based Measures of Solvency 571
Earnings Coverage 572
Relation of Earnings to Fixed Charges 572
Times Interest Earned Analysis 576
Relation of Cash Flow to Fixed Charges 578
Earnings Coverage of Preferred Dividends 579
Interpreting Earnings Coverage Measures 580
Capital Structure Risk and Return 581
Appendix 10A:
Rating Debt 582
Appendix 10B:
Predicting Financial Distress 584

11 Equity Analysis and Valuation 616
Earnings Persistence 618
Recasting and Adjusting
Earnings 618
Determinants of Earnings
Persistence 623
Persistent and Transitory Items in Earnings 625
Earnings-Based Equity Valuation 628
Relation between Stock Prices and Accounting Data 628
Fundamental Valuation Multiples 629
Illustration of Earnings-Based
Valuation 631
Earning Power and Forecasting for Valuation 633
Earning Power 633
Earnings Forecasting 634
Interim Reports for Monitoring and Revising Earnings Estimates 637
Comprehensive Case: Applying Financial Statement Analysis 650
Steps in Analyzing Financial Statements 652
Building Blocks of Financial Statement Analysis 654
Reporting on Financial Statement Analysis 655
Specialization in Financial Statement Analysis 655
Comprehensive Case: Campbell Soup Company 656
Preliminary Financial Analysis 656
Sales Analysis by Source 656
Comparative Financial Statements 658
Further Analysis of Financial Statements 659 S
hort-Term Liquidity 667
Capital Structure and Solvency 670
Return on Invested Capital 671
Analysis of Asset Utilization 675
Analysis of Operating Performance
and Profitability 676
Forecasting and Valuation 679
Appendix A:
Financial Statements A Colgate Palmolive Co. Al Campbell Soup A46
Interest Tables I1 References RI Index INI Summary Evaluation and Inferences 684
Short-Term Liquidity 685
Capital Structure and Solvency 685
Return on Invested Capital 685
Asset Turnover (Utilization) 685
Operating Performance and Profitability 685
Financial Market Measures 686
Using Financial Statement Analysis 687


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