导读：《Financial Statement Analysis》 is a major required course. This course includes two sessions. The first session addresses the three major financial statements—the income statement, the balance sheet, and the cash flow statement—by examining each in turn. The session concludes with a discussion of financial analysis techniques including the use of ratios to evaluate corporate financial health. The second session examines financial reporting for specific categories of assets and liabilities. Inventories, long-lived assets, income taxes, and non-current liabilities are examined in greater detail. Upon finishing this course, students are expected to be familiar with important financial reporting statements and items. Students should also be able to use accounting information to assess a company’s overall financial position and associated risks over time.

英文名：Financial Statement Analysis

学分/学时：3/48

一、课程的性质和任务

Financial statement analysis is critical in assessing a company’s overall financial position and associated risks over time. Security and business valuation, credit risk assessment, and acquisition due diligence all require an understanding of the major financial statements including general principles and reporting approaches. Upon finishing this course, students should be able to demonstrate a thorough knowledge of financial reporting procedures and the standards that govern financial reporting disclosure. Emphasis is on basic financial statements and how alternative accounting methods affect those statements and the analysis of them.

二、课程的基本要求

1.Understand basic concepts of Income statements

2.Know how to compute basics and dilute earnings per share

3.Understand basic concepts of Balance sheet

4.Describe different types of assets and liabilities and the measurement bases of each;

5.Use direct and indirect methods to compute operating cash flow

6.Understand tools and techniques used in financial analysis, including their uses and limitations;

7.Describe different inventory valuation methods (cost formula);

8.Describe the different depreciation methods for property, plant, and equipment and calculate depreciation expense;

9.Explain how deferred tax liabilities and assets are created and the factors that determine how a company’s deferred tax liabilities and assets should be treated for the purposes of financial analysis;

10.Determine the initial recognition, initial measurement and subsequent measurement of bonds.

三、课程内容

（一）Understanding the Income Statement

1.教学内容：Income statement format, revenue recognition, net income calculation, non-recurring items, earnings per share calculation, comprehensive income.

2.教学要求：Students should know the components of the income statement and alternative presentation formats of that statement;calculate revenue given information that might influence the choice of revenue recognition method;describe how earnings per share is calculated and calculate and interpret a company’s earnings per share (both basic and diluted earnings per share) for both simple and complex capital structures.

3.重点、难点：EPS calculation.

4.教学建议：Use real income statement to illustrate the key parts of income statement.

（二）Understanding the Balance Sheet

1.教学内容：Asset, liability, shareholder’s equity.

2.教学要求：Students should knowthe elements of the balance sheet: assets, liabilities, and equity; distinguish between current and non-current assets and current and non-current liabilities; describe different types of assets and liabilities and the measurement bases of each; describe the components of shareholders’ equity.

3.重点、难点：Measure different types of asset and liabilities.

4.教学建议：Use real balance sheet to illustrate the key parts of balance sheet.

（三）Understanding the Statement of Cash Flow

1.教学内容：Operating cash flows, investing cash flows and financing cash flows.

2.教学要求：Students should know how to compare cash flows from operating, investing, and financing activities and classify cash flow items as relating to one of those three categories given a description of the items;distinguish between the direct and indirect methods of presenting cash from operating activities and describe arguments in favor of each method.

3.重点、难点:Operating cash flow calculation.

4.教学建议：Use real cash flow statement to illustrate the key parts of cash flow statement.

（四）Financial Analysis Techniques

1.教学内容：Ratio analysis, Dupont analysis, equity analysis, credit analysis.

2.教学要求：Student should knowclassify, calculate, and interpret activity, liquidity, solvency, profitability, and valuation ratios;demonstrate the application of DuPont analysis of return on equity and calculate and interpret effects of changes in its components; calculate and interpret ratios used in equity analysis and credit analysis.

3.重点、难点：Understand and memorize all ratios.

4.教学建议：Case illustration.

（五）Inventories

1.教学内容：Inventory measurement: FIFI, LIFO, Weighted Average; inventory impairment.

2.教学要求：Students should know how to calculate and compare cost of sales, gross profit, and ending inventory using different inventory valuation methods and using perpetual and periodic inventory systems;describe the measurement of inventory at the lower of cost and net realizable value.

3.重点、难点：Explain LIFO reserve and LIFO liquidation and their effects on financial statements and ratios.

4.教学建议：Example illustration.

（六）Long-Lived Assets

1.教学内容：Expensing versus capitalization, intangible assets, depreciation methods: straight line method, accelerated method and units-of-production method, asset impairment.

2.教学要求：Students should know how to distinguish between costs that are capitalized and costs that are expensed in the period in which they are incurred;compare the financial reporting of the following types of intangible assets: purchased, internally developed, acquired in a business combination;describe the different depreciation methods for property, plant, and equipment and calculate depreciation expense;explain the impairment of property, plant, and equipment and intangible assets.

3.重点、难点：Revaluation model.

4.教学建议：Example illustration.

（七）Income Taxes

1.教学内容:Account profit versus taxable income, tax expense versus tax payable, deferred tax assets, deferred tax liabilities.

2.教学要求：Students should know how to describe the differences between accounting profit and taxable income and define key terms, including deferred tax assets, deferred tax liabilities, valuation allowance, taxes payable, and income tax expense;calculate the tax base of a company’s assets and liabilities;evaluate the effect of tax rate changes on a company’s financial statements and ratios.

3.重点、难点：Determine the tax base of a company’s assets and liabilities.

4.教学建议：Example illustration.

（八）Long-Term Liabilities and Lease

1.教学内容：Bonds, interest expense calculation, finance lease, operating lease.

2.教学要求：Students should know how to determine the initial recognition, initial measurement and subsequent measurement of bonds;describe the effective interest method and calculate interest expense, amortization of bond discounts/premiums, and interest payments; distinguish between a finance lease and an operating lease from the perspectives of the lessor and the lessee.

3.重点、难点：Recognize the difference between finance lease and operating lease.

4.教学建议：Example illustration.

四、本课程与其它课程关系

本课程的前继课程有：《CFA中级金融学》等。

五、学时分配

六、教材及参考书

教 材：

CFA Program Curriculum Level I Volume 3;

SchweserNotes 2019 Level 1 CFA Book 3: Financial Reporting and Analysis，Kaplan,Inc.，