Sources of Financial Information
•Dun and Bradstreet
•Financial Post
•Moody’s
•Standard and Poor’s
•Annual reports and 10K Filings
•Trade associations and journals
•Computerized databases
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Financial Information - E-Commerce - Lecture Slides, Slides of Fundamentals of E-Commerce
Students of Communication, study E-Commerce as an auxiliary subject. these are the key points discussed in these Lecture Slides of E-Commerce : Financial Information, Bradstreet, Financial Post, Standard, Annual Reports, Trade Associations, Computerized Databases, Journals, Filings, Cash Earnings
Typology: Slides
2012/2013
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Sources of Financial Information
Dun and Bradstreet - Financial Post - Moody’s - Standard and Poor’s - Annual reports and 10K Filings - Trade associations and journals - Computerized databases
Quality and Financial Analysis
The quality of a firm’s earnings is positivelyrelated to:
the proportion of cash earnings to total earnings - the proportion of recurring income to totalincome.
Problems in Reporting
Time of revenue recognition
Establishment of reserves - Amortization of intangible assets - Including all losses and debt - “Pro forma” profitability measures
Balance Sheet Quality Issues
Charging off assets
Hidden liabilities - Hidden assets - Off balance sheet financing
Analysis of a Firm’s Market Value
Market value added (MVA) = Market value – Capital
The capital market’s assessment of theaccumulated NPV of all of the firm’s past andpresent projected investment projects - Economic value added (EVA) = ( r
k
×
Capital
The yearly contribution of operations to thecreation of MVA
Forecasting Methods
Percent of sales
Cash budgets - Pro forma statement of cash flow - Computerized financial forecasting models - Forecasting with financial ratios
Additional Financing Needed
Difference between total financing neededand internal financing provided is equal to:
∆ ∆ − − Additional (external) Financing Needed = Assets Sales Current Liabilities Sales Sales Sales Earnings After Taxes - Dividends Docsity.com