Đang chuẩn bị liên kết để tải về tài liệu:
Tài liệu về A Basic Guide for VALUING a Company phần 6

dịch vụ nghĩa vụ của mình do trong vòng một năm. Tỷ lệ dần dần cao hơn biểu thị khả năng ngày càng tăng để phục vụ nghĩa vụ ngắn hạn. Ghi nhớ rằng tính thanh khoản trong một doanh nghiệp cụ thể là một yếu tố của các thành phần tài sản. | Financial Analysis 145 service its obligations due within one year. Progressively higher ratios signify increasing ability to service short-term obligations. Bear in mind that liquidity in a specific business is an element of asset composition. Thus the acid test ratio that follows is perhaps a better indicator of liquidity overall. In this particular business we must note that 92 155 of current assets are sales promotion devices that are unlikely to be turned back into cash per se. Current Ratio Total Current Assets or Total Current Liabilities 1990 1991 1992 Industry Median 3.2 2.6 5.1 1.7 Note Unreconstructed balance sheet used. The quick or acid test ratio is a refinement of the current ratio and more thoroughly measures liquid assets of cash and accounts receivable in the sense of ability to pay off current obligations. Higher ratios indicate greater liquidity as a general rule. Quick Ratio Cash and Equivalents Receivables or Total Current Liabilities Industry 1990 1991 1992 Median .8 .7 1.2 .7 Note Cash and equivalents equal all-cash marketable securities and other near-cash items. It excludes sinking funds. Less than a ratio of 1.0 can suggest a struggle to stay current with obligations. The median offers that the industry as a whole may wrestle with liquidity problems by the nature of doing business however the top 25 of reported companies reflect a ratio of 1.6. Sales Receivable Ratio Income Statement Sales Receivables Balance Sheet or 146 Retail Home-Decorating Business Valuation 1990 1991 17.1 11.3 Industry 1992 Median 16.7 13.9-22.4 This is an important ratio and measures the number of times that receivables turn over during the year. Our target company seems to turn these over in tune with the industry median. 365 Day s Receivable Ratio ----- - or Sale Receivable Ratio 1990 21 1991 32 1992 19 Industry Median 26-16 days Cost of Sales n-------- or Payables Industry 1992 Median 14.0 14.3 This highlights the average time in terms of days that receivables .