Download International Financial Reporting Standards: A Practical by Hennie Van Greuning PDF

By Hennie Van Greuning

I anticipated this publication to incorporate extra technical info yet i found that it's an creation of IFRS for novices and will be used for as a advisor for individuals with out accounting history

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Although financial ratios are used to help assess the growth potential and risk of a business they cannot be used alone to directly value a company or determine its creditworthiness. The entire operation of the business must be examined, and the external economic and industry setting in which it is operating must be considered when interpreting financial ratios. 10 Financial ratios mean little by themselves. Their meaning can only be gleaned by using them in the context of other information. 9 above, an analyst should evaluate financial ratios based on: • Experience.

1 Financial analysis is the discipline whereby analytical tools are applied to financial statements and other financial data in order to interpret trends and relationships in a consistent and disciplined manner. In essence, the analyst is in the business of converting data into information, and thereby assisting in a diagnostic process that has as its objective the screening and forecasting of information. 2 The financial analyst who is interested in assessing the value or creditworthiness of an entity is required to estimate its future cash flows, assess the risks associated with those estimates, and determine the proper discount rate that should be applied to those estimates.

7 Although financial analysts use a variety of subgroupings to describe their analysis, the following classifications of risk and performance are often used: 22 Chapter 3 Presentation of Financial Statements (IAS 1) • Liquidity. An indication of the entity’s ability to repay its short-term liabilities, measured by evaluating components of current assets and current liabilities • Solvency. The risk related to the volatility of income flows often described as business risk (resulting from the volatility related to operating income, sales, and operating leverage) and financial risk (resulting from the impact of the use of debt on equity returns as measured by debt ratios and cash flow coverage) • Operational efficiency.

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