财务分析复习重点

单词 第四章

1，financial planning 财务计划

2，the percentage of sales approach 销售百分比 3，capital budgeting 资本预算 4，capital structure资本结构 5,net working capital净营运资本 6,planning horizon计划维度 7,pro forma statements预计报表 8,financial statements财务报表 9,Balance sheet资产负债表 10,income statement利润表

11,external financing needed外部融资需求 12,internal growth rate 内部增长率

13,sustainable growth rate可持续增长率

第七章

1，bonds债券

2,discount bond折价债券 3,premium bond溢价债券 4,trail and error插值法 5,interest rate risk利率风险 6,indenture合约

7,sinking fund偿债基金 8,bond rating债券评级 9,government bonds国债

10,convertible bonds可转换债券 11,put bonds退回债券 12,bid-ask spread价差

13,the fisher effect费雪效应 14,nominal rate 名义利率 15,real rate实际利率

16,term structure of interest rates利率的期间结构 17,zero coupon bonds零息债券

18,floating-rate bonds浮动利率债券 19,income bonds收益债券

第十一章

1，cash flow现金流

2,net present value净现值

3,internal rate of return内含报酬率 4,forecasting risk预测风险

5,sensitivity analysis敏感性分析 6,simulation analysis模拟分析

7,break even 保本点

8,break even analysis保本点分析 9,fixed cast固定成本 10,variable cost变动成本

11,accounting break even会计保本点 12,cash break even 现金保本点 13,financial break even财务保本点 14,operating cash flow经营现金流量 15,degree of operating leverage经营杠杆 16,capital rationing资本限额 17,soft rationing软性 18,hard rationing硬性

19,scenario analysis情景分析

第十五章

1，venture capital风险投资 2,venture capitalist风险投资家

3,securities and exchange commission美国证券交易委员会 4,general cash offer一般现金发行 5,right offer权证发行

6,initial public offering首次公开发行 7,seasoned equity offering再次权益发行 8,underwriter /underwriting承销商 9,offering price发行价格 10,gross spread 发行成本 11,syndicate辛迪加（财团）

12,firm commitment underwriting包销 13,best efforts underwriting代销

14,dutch auction underwriting拍卖承销 15,the green shoe provision绿鞋条款 16,lock up agreement牢笼协议

17,right/share warrant股票认购权证 18,ex-rights date除权日

19,standby underwriting余额包销承销 20,dilution稀释

第十七章

1，dividend policy股利政策 2,cash dividend现金股利

3,regular cash dividend正常现金股利 4,distribution分配

5,ex-dividend date除息日 6,record date登记日

7,declaration date股利宣告日

8,payment date发放日

9,homemade dividend policy自制股利政策 10,asymmetric information信息不对称

11,information content effect信息含量效应t 12,clientele effect客户效应 13,repurchase /buybacks回购 14,stock dividend股票股利 15,stock split股票分割

问答题 第四章

1，how to apply the percentage of sales method? （1）Calculate the financing needs of the enterprise （2）Help prepare financial budget tables （3）Forecast cash flow

2，how to compute the external financing needed to fund a firm’ growth?

（1）=Expected total assets-Total liabilities-Expected shareholder rights and interests （2）=Increase in assets-Liability increase-Retained earnings increase

3,the determinants of a firm’s growth? (1)profit margin (2)Dividend policy (3)Financial policy (4)Total asset turnover

4,some of the problems in planning for growth?

（1）How to predict sales

（2）How to forecast the report

（3）How to calculate the demand for assets （4）How to calculate the financing needs （5）Economic hypothesis

5，What is the percentage of sales approach?

It’s refer to a method that compute the company’s sales according to the certain percentage of the specific sales (current or forecast) or the price ratio.

6,How do you adjust the model when operating at less than full capacity?

7,What is the internal growth rate?

it is the maximum growth rate that can be achieved with no external financing of any kind.

=roa*b/(1-roa*b)

8,What is the sustainable growth rate?

It is the maximum growth rate a firm can achieve with no external equity financing while it maintains a constant debt--equity ratio. =roe*b/(1-roe*b)

9,What are the major determinants of growth? (5)profit margin (6)Dividend policy (7)Financial policy (8)Total asset turnover

第七章

1， Important bond features and types of bonds.

Bond features;coupons ,level coupon ,face value or par value ,coupon rate,maturity. Types:discount bond Premium bond Government bond Zero coupon bond Floating--rate bond Incom bond

Convertible bond

2，Bond values and yield and why they fluctuate.

As time passes ,interest rates change in the marketable ,the cash flows from a bond ,however ,stay the same ,as a result ,the value of the bond will fluctuate.

3，Bond ratings and what they mean.

A credit rating of the object of the price of a bond issued by an enterprise or the economic entity They mean default risk

4，The impact of inflation on interest rates. Intlation=nominal rate -real rate

5，The term structure of interest rates and the determinants of bond yields.

The relationship between short-term and long-term interest rates is know as the term stucture of interest rates( real rate ,inflation premium,interest rate risk premium)

the determinants of bond yields;Coupon rate maturity date coupon

Purchase price Sell price

6,What is a bond indenture?

The indenture is the written agreement between the corporation and its creditors.

7,How does inflation affect interest rates? Inflation up, interest rates down Inflation down, interest rates up

8,What is the term structure of interest rates?

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