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Financial Analyst Formulas Exam With Complete Solutions Latest Update

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Financial Analyst Formulas Exam With Complete Solutions Latest Update...

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  • 15 de noviembre de 2024
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  • 2024/2025
  • Examen
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  • Financial Analyst Formulas
  • Financial Analyst Formulas
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Financial Analyst Formulas Exam With Complete Solutions
Latest Update


Tips On Good Analysis - ANSWER - Go from simple to complex

-start with sales, gross margin and net earnings; is the company growing and is it
profitable

- think about each piece of the formulas and what goes into them when making your
hypotheses; not just the *sales* for example, what might have caused sales to change,
pricing, volume, etc

+break sales into into geographic region or business activities

-example of analysis "net income is decreasing, this is bad; it is due to bad management
of cost resources" then say "I recommend we do. such as manage costs of resources
better"

-example of a recommendation "we should invest x amount over x years" then state
consequences and/or how you might get the money

-ex. "I would renegotiate with customers to pay sooner; I would take this cash and invest
it in x; then I would make sure to manage our costs of resources continuing into the
future"

+ add possible explanations of WHY your recommendation could be wrong

+consider if it is a startup.the timeline of how long or if it is generating positive net
earnings-usually takes longer in beginning and initially generates negative net earnings

+CONSIDER 1. Nature of expenses, 2. Cost structure, and 3. Recurring profits



Net Earnings - ANSWER Revenues - Expenses (Not 100% instant cash)

+important to note if revenue is increasing at faster rate than expenses



Income Statement - ANSWER a film of activities during a period; interim results serve to
explain net income



+COGS - ANSWER +DIRECT costs assigned to production

, +Sales - COGS = Gross Margin



+SG&A - ANSWER +INDIRECT costs



Gross Profit - ANSWER Sales (volume of goods delivered & invoiced) - Cost of Goods
Sold (direct costs)

COGS= all the production costs; salaries of production personnel, raw materials cost,
plant operating costs, etc

+DIFFERENT from OPERATING profit

EBITDA - ANSWER Gross margin-Selling, administrative, etc (overhead)

SGA= salaries of admin, rent, marketing, etc

EBIT(Operating Profit) - ANSWER EBITDA - depriciation (take away D&A to get EBIT)

EBT - ANSWER EBIT - Interest + Financial Revenues

+Interest Payments - ANSWER +INCREASE in interest means increase in repayment of
debt OR increasingly financed by debt

+DECREASE in interest means decreased repayment of debt



+Tax Rate - ANSWER + tax rate = tax expense/income before tax



+Net earnings after tax - ANSWER + net earnings after tax = EBT x (1-t)



Exceptional Items - ANSWER added to the EBT at the bottom o the income statement
because they are classified as non recurring items (no direct link to investments); ex.
selling a truck when you aren't a truck selling company



+EBITDA = - ANSWER +EBITDA = Net earnings + interest expense + tax expense +
depreciation



Ratios of Margin - ANSWER comparing any unit on the income statement/sales; Part of
the return, but not all of it; help to make a direct link to items [operating ratios]; usually

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