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Click to edit title style,Click to edit Master text styles,Second level,Third level,Fourth level,Fifth level,*,Accounting English,Unit Eighteen,Learning Objectives,Unit Eighteen,to understand the importance of financial statement analysis;,to identify the tools of financial statement analysis;,to compute the ratios used in financial statement analysis;,to explain and apply horizontal and vertical analysis;,to recognize the limitations of financial statement analysis.,How do the three basic financial statements tie together?,Warming-up,Unit Eighteen,Vocabulary,Unit Eighteen,liquidity,solvency,footnote,horizontal analysis,vertical analysis,limitation,representative,legislation,scandal,vice versa,清偿能力；流动资金,偿付能力,脚注,水平分析，横向分析,垂直分析，纵向分析,限制,代理的；代表,立法,丑闻,反之亦然,Notes,Unit Eighteen,Common-size analysis,also called vertical analysis,is the study on the relationship of each item to the total figure in a single statement.,结构分析，也称定量分析，是在单独一张表内分析每个工程与合计数之间的联系。,The quick ratio,also known as the acid test ratio,is designed to provide a more rigorous test than the current ratio of a firms ability to pay its current liabilities on time.,速动比率也称酸性测试比率，旨在提供一个比流动比率更为严格的对企业及时偿付流动负债能力的测试。,Notes,Unit Eighteen,equity ratio 产权(权益)比率。它是用股东产权对资产总额的比率。说明企业资产总额中由股东提供的资产来源局部。,The inventory turnover ratio helps judge how well inventory is controlled and managed.It assists one in evaluating whether a change in inventory is due to a change in sales or to some other factor such as slowdown in the time it takes for the firm to produce and sell its inventory.,存货周转率有助于人们判断存货控制和管理的完善程度。它可以帮助人们评价存货的变动是由于销货收入的变化，还是由于诸如企业生产和销售存货的速度放慢等其他原因。,Notes,Unit Eighteen,This ratio is a particularly useful measure of profitability from the viewpoint of the owners because it relates the two fundamental factors in any investment situation-the amount of the owners investment and the return earned for the owners on that investment.,就所有者的观点而言，这一比率是衡量盈利能力的特别有用的比率，因为它把任何投资情况下的所有者投资额与业主在该投资额上赚得的收益这两个根本因素联系起来。,Exercises,Unit Eighteen,I.Term Study.,Match the terms in column A with the definitions in column B.,A,B,1.acid-test(quick)ratio,2.current ratio,3.horizontal analysis,4.inventory turnover,A.a measure used to evaluate a companys liquidity and short-term debt-paying ability.,B.a measure of a companys immediate short-term liquidity.,C.a measure of the liquidity of inventory.,D.a technique for evaluating a series of financial statement data over a period of time,Exercises,Unit Eighteen,II.Translation.,Liquidity refers to the ease and quickness with which assets can be converted to cashwithout a significant loss in value.The more liquid a firms assets,the less likely the firm is to experience problems meeting short-term obligations.Liquid assets frequently have lower rates of return than fixed assets.Current assets are the most liquid.,Exercises,Unit Eighteen,所谓变现性是指在没有严重损失价值的情况下，可以容易且快速地将资产转换成现金。企业的资产越具变现性，那么企业越不可能经历无法满足短期债务的问题。变现性高的资产，其报酬率会比固定资产要低。企业的流动资产最具变现性。,
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