企业分析与估价:英文版

内容简介

《企业分析与估价》的框架结构独具，不同于常见的“报表结构介绍一报表科目分析一比率分析”的体例安排，而是跳出会计数字的迷宫，从初的企业性质开始阐述财务报表与企业商业活动之间的关系，然后逐步讲解战略分析、会计政策分析和财务报表分析。全书包括三个部分：第一部分概要地介绍了“借助财务报表进行商业分析和评估的框架”，第二部分具体展开描述了“商业分析和评估工具”，第三部分是前两部分（框架和工具）在实务领域的应用，包括权益证券的价值评估、信用分析和破产危机预测、兼并收购的定价和融资等。
　　《企业分析与估价》理论与实务相结合的综合训练对身处以“3C（change、competition、customerization）”为特征的信息经济时代的学生很有益处，适合作为本科、会计学硕士和MBA的会计课程教材。

目录

Part 1 frameWORK
A framework for Business Analysis and Valuation Using
Financial Statements
The Role of Financial Reporting in Capital Markets
From Business Activities to Financial Statements
From Financial Statements to Business Analysis
Summary
Discussion Questions

Part 2 BUSINESS ANALYSIS AND VALUATION TOOLS Strategy Analysis
Industry Analysis
Applying Industry Analysis: The Personal Computer Industry
Competitive Strategy Analysis
Corporate Strategy Analysis
Summary
Discussion Questions
Overview of Accounting Analysis
The Institutional framework for Financial Reporting
Factors Influencing Accounting Quality
Steps in Doing Accounting Analysis
Accounting Analysis Pitfalls
Value of Accounting Data and Accounting Analysis
Summary
Discussion Questions
Implementing Accounting Analysis
Recasting Financial Statements
Asset Distortions
Overstated Assets
Understated Assets
Liability Distortions
Equ

摘要与插图

Forecasting represents the first step of prospective analysis and serves to summarize the for-ward-looking view that emanates from business strategy analysis, accounting analysis, andfinancial analysis. Although not every financial statement analysis is accompanied by suchan explicit summarization of a view of the future, forecasting is still a key tool for manag-ers, consultants, security analysts, investment bankers, commercial bankers and other creditanalysts, and others.　 The best approach to forecasting future performance is to do it comprehensively——pro-ducing not only an earnings forecast but a forecast of cash flows and the balance sheet aswell. Such a comprehensive approach provides a guard against internal inconsistenciesand unrealistic implicit assumptions. The approach described here involves line-by-lineanalysis, so as to recognize that different items on the income statement and balance sheetare influenced by different drivers. Nevertheless, it remains the case that a few