Principles of Finance · 免费预览
比率分析与经营效率
比率将财务报表浓缩为可用于比较的经营业绩指标，而应收账款周转率和现金转换周期等经营效率比率则衡量企业将经营活动转化为现金的速度。
1. Why ratios
Why ratios
2. Receivables turnover and days sales outstanding
Receivables turnover and days sales outstanding
3. Inventory turnover and the operating cycle
Inventory turnover and the operating cycle
4. The cash conversion cycle
The cash conversion cycle
5. What ratios add
What is the fundamental contribution of ratio analysis beyond reading raw financial statements?
6. Computing days sales outstanding
A firm has credit sales of 4,380,000 dollars and average accounts receivable of 600,000 dollars. What are receivables turnover and days sales outstanding?
7. Reading a lengthening collection period
A firm's days sales outstanding has drifted from 35 to 52 days over three years. What is the most likely reading?
8. The operating cycle defined
In working capital analysis, what exactly does the operating cycle measure for a firm?
9. A negative cash conversion cycle
A retailer collects from customers at the till but pays suppliers 45 days later, with minimal inventory days. What does its cash conversion cycle look like?
10. Freeing cash by shrinking the cycle
Why does shortening the cash conversion cycle create value even when sales and profit are unchanged?
11. The receivables ratio's numerator
In the accounts receivable turnover ratio, credit sales are divided by which balance sheet item? Answer with two words.
12. The day-count conversion
What number of days in a year is divided by a turnover ratio to express it as days outstanding? Write the number.
13. The supplier-financed gap
What three-word term names the net days a dollar spends tied up in working capital, inventory days plus receivable days minus payable days? Answer in lowercase.
14. The inventory clock
What three-word term names 365 divided by inventory turnover, the average days stock is held? Answer in lowercase.