会计代写|财报分析代写Financial Statement Analysis代考|BUSN3064

statistics-lab™ 为您的留学生涯保驾护航 在代写财报分析Financial Statement Analysis方面已经树立了自己的口碑, 保证靠谱, 高质且原创的统计Statistics代写服务。我们的专家在代写财报分析Financial Statement Analysis代写方面经验极为丰富，各种代写财报分析Financial Statement Analysis相关的作业也就用不着说。

• Statistical Inference 统计推断
• Statistical Computing 统计计算
• (Generalized) Linear Models 广义线性模型
• Statistical Machine Learning 统计机器学习
• Longitudinal Data Analysis 纵向数据分析
• Foundations of Data Science 数据科学基础

会计代写|财报分析代写Financial Statement Analysis代考|Business Environment and Strategy Analysis

Analysis of a company’s future prospects is one of the most important aims of business analysis. It also is a snhjective and complex task. Th effectively accomplish this task we must adopt an interdisciplinary perspective. This includes attention to analysis of the business environment and strategy. Analysis of the business environment seeks to identify and assess a company’s economic and industry circumstances. This includes analysis of its product, labor, and capital markets within its economic and regulatory setting. Analysis of business strategy seeks to identify and assess a company’s competitive strengths and weaknesses along with its opportunities and threats. and strategy analysis. Industry analysis is the nsual first step since the prosperts and structure of its industry largely drive a company’s profitability. Industry analysis is often done using the framework proposed by Porter $(1980,1985)$ or value chain analysis. Under this framework, an industry is viewed as a collection of competitors that jockey for bargaining power with consumers and suppliers and that actively compete among themselves and face threats from new entrants and substitute products. Industry analysis must assess both the industry prospects and the degree of actual and potential competition facing a company. Strategy analysis is the evaluation of both a company’s business decisions and its success at establishing a competitive advantage. This includes assessing a company’s expected strategic responses to its business environment and the impact of these responses on its future success and growth. Strategy analysis requires scrutiny of a company’s competitive strategy for its product mix and cost structure.

Business environment and strategy analysis requires knowledge of both economic and industry forces. It also requires knowledge of strategic management, business policy, production, logistics management, marketing, and managerial economics. Because of its broad, multidisciplinary nature, it is beyond the scope of this book to cover all of these areas in the context of business environment and strategy analysis and how they relate to financial statements. Still, this analysis is necessary for meaningful business decisions and is implicit, if not explicit, in all analyses in this book.

会计代写|财报分析代写Financial Statement Analysis代考|Accounting Analysis

Accounting analysis is a process of evaluating the extent to which a company’s accounting reflects economic reality. This is done by studying a company’s transactions and events, assessing the effects of its accounting policies on financial statements, and adjusting the statements to both better reflect the underlying economics and make them more amenable to analysis. Financial statements are the primary source of information for financial analysis. This means the quality of financial analysis depends on the reliability of financial statements that in turn depends on the quality of accounting analysis. Accounting analysis is especially important for comparative analysis.

We must remember that accounting is a process involving judgment guided by fundamental principles. While accounting principles are governed by standards, the complexity of business transactions and events makes it impossible to adopt a uniform set of accounting rules for all companies and all time periods. Moreover, most accounting standards evolve as part of a political process to satisfy the needs of diverse individuals and their sometimes conflicting interests. These individuals include users such as investors, creditors, and analysts; prepaners such as corporations, partnerships, and proprietorships; ngulators such as the Securities and Exchange Commission and the Financial Accounting Standards Board; and still others such as auditors, lawyers, and educators. Accordingly, accounting standards sometimes fail to meet the needs of specific individuals. Another factor potentially impeding the reliability of financial statements is error from accounting estimates that can yield incomplete or imprecise information.

These accounting limitations affect the usefulness of financial statements and can yield at least two problems in analysis. First, lack of uniformity in accounting leads to comparability problems. Comparability problems arise when different companies adopt different accounting for similar transactions or events. Comparability problems also arise when a company changes its accounting across time, leading to difficulties with temporal comparability.

Second, discretion and imprecision in accounting can distort financial statement information. Accounting distortions are deviations of accounting information from the underlying economics. These distortions occur in at least three forms. (1) Managerial estimates can be subject to honest errors or omissions. This estimation error is a major cause of accounting distortions. (2) Managers might use their discretion in accounting to manipulate or window-dress financial statements. This eamings management can cause accounting distortions. (3) Accounting standards can give rise to accounting distortions from a failure to capture economic reality. These three types of accounting distortions create accounting risk in financial statement analysis. Accounting risk is the uncertainty in financial statement analysis due to accounting distortions. A major goal of accounting analysis is to evaluate and reduce accounting risk and to improve the economic content of financial statements, including their comparability. Meeting this goal usually requires restatement and reclassification of financial statements to improve their economic content and comparability. The type and extent of adjustments depend on the analysis. For example, adjustments for equity analysis can differ from those for credit analysis.

有限元方法代写

tatistics-lab作为专业的留学生服务机构，多年来已为美国、英国、加拿大、澳洲等留学热门地的学生提供专业的学术服务，包括但不限于Essay代写，Assignment代写，Dissertation代写，Report代写，小组作业代写，Proposal代写，Paper代写，Presentation代写，计算机作业代写，论文修改和润色，网课代做，exam代考等等。写作范围涵盖高中，本科，研究生等海外留学全阶段，辐射金融，经济学，会计学，审计学，管理学等全球99%专业科目。写作团队既有专业英语母语作者，也有海外名校硕博留学生，每位写作老师都拥有过硬的语言能力，专业的学科背景和学术写作经验。我们承诺100%原创，100%专业，100%准时，100%满意。

MATLAB代写

MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中，其中问题和解决方案以熟悉的数学符号表示。典型用途包括：数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发，包括图形用户界面构建MATLAB 是一个交互式系统，其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题，尤其是那些具有矩阵和向量公式的问题，而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问，这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展，得到了许多用户的投入。在大学环境中，它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域，MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要，工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数（M 文件）的综合集合，可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。

会计代写|财报分析代写Financial Statement Analysis代考|ACCTFIN 7017

statistics-lab™ 为您的留学生涯保驾护航 在代写财报分析Financial Statement Analysis方面已经树立了自己的口碑, 保证靠谱, 高质且原创的统计Statistics代写服务。我们的专家在代写财报分析Financial Statement Analysis代写方面经验极为丰富，各种代写财报分析Financial Statement Analysis相关的作业也就用不着说。

• Statistical Inference 统计推断
• Statistical Computing 统计计算
• (Generalized) Linear Models 广义线性模型
• Statistical Machine Learning 统计机器学习
• Longitudinal Data Analysis 纵向数据分析
• Foundations of Data Science 数据科学基础

会计代写|财报分析代写Financial Statement Analysis代考|Equity Analysis

Equity investors provide funds to a company in return for the risks and rewards of ownership. Equity investors are major providers of company financing. Equity financing, also called equity or share capital, offers a cushion or eafeguard for all other forms of financing that are senior to it. This means equity investors are entitled to the distributions of a company’s assets only after the claims of all other senior claimants are met, including interest and preferred dividends. As a result, equity investors are said to hold a residual interest. This implies equity investors are the first to absorb losses when a company liquidates, although their losses are usually limited to the amount invested. However, when a company prospers, equity investors share in the gains with unlimited upside potential. Thus, unlike credit analysis, equity analysis is symmetric in that it must assess both downside risks and upside potential. Because equity investors are affected by all aspects of a company’s financial condition and performance, their analysis needs are among the most demanding and comprehensive of all users.

Individuals who apply active investment strategies primarily use technical analysis, fundamental analysis, or a combination. Technical analysis, or charting, searches for patterns in the price or volume history of a stock to predict future price movements. Fundamental analysis, which is more widely accepted and applied, is the process of determining the value of a company by analyzing and interpreting key factors for the economy, the industry, and the company. A main part of fundamental analysis is evaluation of a company’s financial position and performance.

A major goal of fundamental analysis is to determine intrinsic value, also called fundamental value. Intrinsic value is the value of a company (or its stock) determined through fundamental analysis without reference to its market value (or stock price). While a company’s market value can equal or approximate its intrinsic value, this is not necessary. An investor’s strategy with fundamental analysis is straightforward: buy when a stock’s intrinsic value exceeds its market value, sell when a stock’s market value exceeds its intrinsic value, and hold when a stock’s intrinsic value approximates its market value.

To determine intrinsic value, an analyst must forecast a company’s earnings or cash flows and determine its risk. This is achieved through a comprehensive, in-depth analysis of a company’s business prospects and its financial statements. Once a company’s future profitability and risk are estimated, the analyst uses a valuation model to convert these estimates into a measure of intrinsic value. Intrinsic value is used in many contexts, including equity investment and stock selection, initial public offerings, private placements of equity, mergers and acquisitions, and the purchase/sale of companies without traded securities.

会计代写|财报分析代写Financial Statement Analysis代考|Other Uses of Business Analysis

Business analysis and financial statement analysis are important in a number of other contexts.

• Managers. Analysis of financial statements can provide managers with clues to strategic changes in operating, investing, and financing activities. Managers also analyze the businesses and financial statements of competing companies to evaluate a competitor’s profitability and risk. Such analysis allows for interfurm comparisons, both to evaluate relative strengths and weaknesses and to benchmark performance.
• Mergers, acquisitions, and divestitures. Business analysis is performed whenever a company restructures its operations, through mergers, acquisitions, divestitures, and spin-offs. Investment bankers need to identify potential targets and determine their values, and security analysts need to determine whether and how much additional value is created by the merger for both the acquiring and the target companies.
• Financial management. Managers must evaluate the impact of financing decisions and dividend policy on company value. Business analysis helps assess the impact of financing decisions on both future profitability and risk.
• Directors. As elected representatives of the shareholders, directors are responsible for protecting the shareholders’ interests by vigilantly overseeing the company’s activities. Both business analysis and financial statement analysis aid directors in fulfilling their oversight responsibilities.
• Regulators. The Internal Revenue Service applies tools of financial statement analysis to audit tax returns and check the reasonableness of reported amounts.
• Labor unions. Techniques of financial statement analysis are useful to labor unions in collective bargaining negotiations.
• Customers. Analysis techniques are used to determine the profitability (or staying power) of suppliers along with estimating the suppliers’ profits from their mutual transactions.

会计代写|财报分析代写Financial Statement Analysis代考|Other Uses of Business Analysis

• 经理。财务报表分析可以为管理者提供经营、投资和融资活动中战略变化的线索。管理人员还分析竞争公司的业务和财务报表，以评估竞争对手的盈利能力和风险。这种分析允许进行跨间比较，既可以评估相对优势和劣势，也可以对绩效进行基准测试。
• 合并、收购和剥离。每当公司通过合并、收购、剥离和分拆重组其业务时，都会进行业务分析。投资银行家需要识别潜在目标并确定其价值，而证券分析师需要确定合并是否为收购方和目标公司创造了额外价值以及创造了多少额外价值。
• 财务管理。管理人员必须评估融资决策和股息政策对公司价值的影响。业务分析有助于评估融资决策对未来盈利能力和风险的影响。
• 董事。As elected representatives of the shareholders, directors are responsible for protecting the shareholders’ interests by vigilantly overseeing the company’s activities. 业务分析和财务报表分析都有助于董事履行监督职责。
• 监管机构。美国国税局使用财务报表分析工具来审计纳税申报表并检查报告金额的合理性。
• 工人工会。财务报表分析技术对工会在集体谈判谈判中很有用。
• 顾客。分析技术用于确定供应商的盈利能力（或持久力），同时估计供应商从相互交易中获得的利润。

有限元方法代写

tatistics-lab作为专业的留学生服务机构，多年来已为美国、英国、加拿大、澳洲等留学热门地的学生提供专业的学术服务，包括但不限于Essay代写，Assignment代写，Dissertation代写，Report代写，小组作业代写，Proposal代写，Paper代写，Presentation代写，计算机作业代写，论文修改和润色，网课代做，exam代考等等。写作范围涵盖高中，本科，研究生等海外留学全阶段，辐射金融，经济学，会计学，审计学，管理学等全球99%专业科目。写作团队既有专业英语母语作者，也有海外名校硕博留学生，每位写作老师都拥有过硬的语言能力，专业的学科背景和学术写作经验。我们承诺100%原创，100%专业，100%准时，100%满意。

MATLAB代写

MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中，其中问题和解决方案以熟悉的数学符号表示。典型用途包括：数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发，包括图形用户界面构建MATLAB 是一个交互式系统，其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题，尤其是那些具有矩阵和向量公式的问题，而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问，这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展，得到了许多用户的投入。在大学环境中，它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域，MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要，工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数（M 文件）的综合集合，可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。

会计代写|财报分析代写Financial Statement Analysis代考|GSBS6506

statistics-lab™ 为您的留学生涯保驾护航 在代写财报分析Financial Statement Analysis方面已经树立了自己的口碑, 保证靠谱, 高质且原创的统计Statistics代写服务。我们的专家在代写财报分析Financial Statement Analysis代写方面经验极为丰富，各种代写财报分析Financial Statement Analysis相关的作业也就用不着说。

• Statistical Inference 统计推断
• Statistical Computing 统计计算
• (Generalized) Linear Models 广义线性模型
• Statistical Machine Learning 统计机器学习
• Longitudinal Data Analysis 纵向数据分析
• Foundations of Data Science 数据科学基础

会计代写|财报分析代写Financial Statement Analysis代考|Introduction to Business Analysis

Financial statement analysis is part of business analysis. Business analysis is the evaluation of a company’s prospects and risks for the purpose of making business decisions. These business decisions extend to equity and debt valuation, credit risk assessment, earnings predictions, audit testing, compensation negotiations, and countless other decisions. Business analysis aids in making informed decisions by helping structure the decision task through an evaluation of a company’s business environment, its strategies, and its financial position and performance.

To illustrate what business analysis entails we turn to Colgate. Much financial information about Colgate-including its financial statements, explanatory notes, and selected news about its past performance-is communicated in its annual report reproduced in Appendix A near the end of this book. The annual report also provides qualitative information about Colgate’s strategies and future plans, typically in the Management Discussion and Analysis, or MD\&A, section.

An initial step in business analysis is to evaluate a company’s business environment and strategies. We begin by studying Colgate’s business activities and learn that it is a leading global consumer products company. Colgate has several internationally well-known brands that are primarily in the oral, personal, and home care markets. The company has brands in markets as varied as dental care, soaps and cosmetics, household cleaning products, and pet care and nutrition. The other remarkable feature of Colgate is its comprehensive global presence. Almost $80 \%$ of Colgate’s revenues are derived from international operations. The company operates in 200 countries around the world, with equal presence in every major continent! Exhibit $1.1$ provides key financial details of Colgate’s operating divisions.

Colgate’s strengths are the popularity of its brands and the highly diversified nature of its operations. These strengths, together with the static nature of demand for consumer products, give rise to Colgate’s financial stability, thereby reducing risk for its equity and debt investors. For example, Colgate’s stock price weathered the bear market of $2008-2009$, when the S\&P 500 shed half its value (see Exhibit 1.2). The static nature of demand in the consumer products markets, however, is a double-edged sword: while reducing sales volatility, it also fosters fierce competition for market share. Colgate has been able to thrive in this competitive environment by following a carefully defined business strategy that develops and increases market leadership positions in certain key product categories and markets that are consistent with the company’s core strengths and competencies and through relentless innovation. For example, the company uses its valuable consumer insights to develop successful new products regionally. which are then rolled out on a global basis. Colgate also focuses on areas of the world where economic development and increasing consumer spending provide opportunities for growth. Despite these strategic overtures, Colgate’s profit margins are continuously squeezed by competition. The company was thus forced to initiate a major restructuring program in 2004 to reduce costs by trimming its workforce by $12 \%$ and shedding several unprofitable product lines.

会计代写|财报分析代写Financial Statement Analysis代考|Credit Analysis

Creditors lend funds to a company in return for a promise of repayment with interest. This type of financing is temporary since creditors expect repayment of their funds with interest. Creditors lend funds in many forms and for a variety of purposes. Trade (or operating) creditors deliver goods or services to a company and expect payment within a reasonable period, often determined by industry norms. Most trade credit is short term, ranging from 30 to 60 days, with cash discounts often granted for early payment. Trade creditors do not usually receive (explicit) interest for an extension of credit. Instead, trade creditors earn a return from the profit margins on the business transacted. Nontrade creditors (or debtholders) provide financing to a company in return for a promise, usually in writing, of repayment with interest (explicit or implicit) on specific future dates. This type of financing can be either short or long term and arises in a variety of transactions.

In pure credit financing, an important element is the fixed nature of benefits to creditors. That is, should a company prosper, creditors’ benefits are limited to the debt contract’s rate of interest or to the profit margins on goods or services delivered. However, creditors bear the risk of default. This means a creditor’s interest and principal are jeopardized when a borrower encounters financial difficulties. This asymmetric relation of a creditor’s riak and return has a major impact on the creditor’s perspective, including the manner and objectives of credit analysis.

Credit analysis is the evaluation of the creditworthiness of a company. Creditworththess is the ability of a company to honor its credit obligations. Stated differently, it is the ability of a company to pay its bills. Accordingly, the main focus of credit analysis is on risk, not profitability. Variability in profits, especially the sensitivity of profits to downturns in business, is more important than profit levels. Profit levels are important only to the extent they reflect the margin of safety for a company in meeting its obligations.

有限元方法代写

tatistics-lab作为专业的留学生服务机构，多年来已为美国、英国、加拿大、澳洲等留学热门地的学生提供专业的学术服务，包括但不限于Essay代写，Assignment代写，Dissertation代写，Report代写，小组作业代写，Proposal代写，Paper代写，Presentation代写，计算机作业代写，论文修改和润色，网课代做，exam代考等等。写作范围涵盖高中，本科，研究生等海外留学全阶段，辐射金融，经济学，会计学，审计学，管理学等全球99%专业科目。写作团队既有专业英语母语作者，也有海外名校硕博留学生，每位写作老师都拥有过硬的语言能力，专业的学科背景和学术写作经验。我们承诺100%原创，100%专业，100%准时，100%满意。

MATLAB代写

MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中，其中问题和解决方案以熟悉的数学符号表示。典型用途包括：数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发，包括图形用户界面构建MATLAB 是一个交互式系统，其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题，尤其是那些具有矩阵和向量公式的问题，而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问，这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展，得到了许多用户的投入。在大学环境中，它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域，MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要，工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数（M 文件）的综合集合，可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。