Externe financiële verslaggeving
Inhoud
1 Deel 1: Het boekhoudkundig systeem.................................................................................................5
1.1 Het wetgevend kader...................................................................................................................6
1.2 Boekhoudprincipes.......................................................................................................................6
1.3 Waardering – Begrippen...............................................................................................................8
1.3.1 Verwerving.............................................................................................................................8
1.3.2 Wijziging in de waardering van activa....................................................................................9
1.3.3 Realisatie van een actief =...................................................................................................10
2 Deel 2-3: Studie van de activa............................................................................................................10
2.1 Oprichtingskosten.......................................................................................................................10
2.1.1 Oefening oprichtingskosten:................................................................................................11
2.1.2 Oefening..............................................................................................................................12
2.2 Immateriële vaste activa.............................................................................................................12
2.2.1 Verwerving van IVA..............................................................................................................13
2.2.2 Wijziging in de waardering...................................................................................................13
2.2.3 Realisatie.............................................................................................................................14
2.2.4 IFRS......................................................................................................................................14
2.2.5 Oefening inbrenging immaterieel vast actief.......................................................................14
2.2.6 Oefening aanschaffingswaarde............................................................................................15
2.2.7 Oefening immaterieel vast actief (soft)...............................................................................15
2.2.8 Oefening merk met waardevermindering of -vermeerdering..............................................17
2.3 Materiële vaste activa.................................................................................................................17
2.3.1 Verwerving...........................................................................................................................17
2.3.2 Wijziging in de waardering...................................................................................................18
2.3.3 Realisatie.............................................................................................................................19
2.3.4 Uitgestelde belastingen op de gerealiseerde meerwaarden...............................................19
2.3.5 IFRS......................................................................................................................................19
2.3.6 Oefening verwerving kantoormeubilair (MVA)....................................................................19
2.3.7 Oefening meerwaarde.........................................................................................................21
2.3.8 Oefening gebouw en terrein afschrijving en meerwaarde...................................................24
2.4 Financiële vaste activa................................................................................................................26
2.4.1 Verwerving...........................................................................................................................27
2.4.2 Wijzigingen in de waardering...............................................................................................27
1
, 2.4.3 Realisatie.............................................................................................................................28
2.4.4 IFRS......................................................................................................................................28
2.4.5 Oefening controlebevoegdheid...........................................................................................28
2.4.6 Oefening..............................................................................................................................29
2.5 Voorraden en bestellingen in uitvoering....................................................................................30
2.5.1 Verwerving...........................................................................................................................30
2.5.2 Wijziging in de waardering...................................................................................................31
2.5.3 IFRS......................................................................................................................................32
2.5.4 Oefening..............................................................................................................................33
2.5.5 Oefening zo laag mogelijk winstcijfer..................................................................................33
2.5.6 Oefening LIFO en FIFO.........................................................................................................34
2.6 Vorderingen................................................................................................................................34
2.6.1 Verwerving...........................................................................................................................35
2.6.2 Wijzigingen in de waardering...............................................................................................35
2.6.3 Realisatie.............................................................................................................................36
2.6.4 IFRS......................................................................................................................................36
2.6.5 Oefening..............................................................................................................................36
2.7 Geldbeleggingen en liquide middelen........................................................................................37
2.7.1 Verwerving van een geldbelegging......................................................................................38
2.7.2 Wijzigingen in de waardering van geldbeleggingen.............................................................38
2.7.3 Realisatie van de geldbelegging...........................................................................................38
2.7.4 Waarderingen van liquide middelen....................................................................................38
2.7.5 Verwerving door ontvangst liquiditeiten.............................................................................38
2.7.6 Oefening..............................................................................................................................39
3 Deel 4: Studie van de Passiva.............................................................................................................40
3.1 Kapitaal.......................................................................................................................................40
3.2 Uitgiftepremies...........................................................................................................................40
3.3 Reserves......................................................................................................................................40
3.4 Eigen vermogen..........................................................................................................................42
3.4.1 Overgedragen winsten.........................................................................................................42
3.4.2 Kapitaalsubsidie...................................................................................................................42
3.5 Voorzieningen en uitgestelde belastingen..................................................................................42
3.5.1 Balans en resultatenrekening voorziening...........................................................................42
3.5.2 Verwerving...........................................................................................................................43
3.5.3 Wijziging in waardering.......................................................................................................43
3.5.4 Realisatie.............................................................................................................................43
2
, 3.5.5 IFRS......................................................................................................................................43
3.5.6 Oefening..............................................................................................................................43
3.6 Schulden.....................................................................................................................................45
3.6.1 IFRS......................................................................................................................................46
3.7 Overlopende rekeningen............................................................................................................46
3.7.1 Oefeningen overlopende rekeningen..................................................................................46
3.8 Resultaatverwerking...................................................................................................................48
3.8.1 Verwerkingen.......................................................................................................................49
3.8.2 Oefening..............................................................................................................................50
4 Deel 5: Studie van de Resultatenrekening.........................................................................................51
5 Voorbereiding financiële analyse.......................................................................................................52
5.1 Financieel evenwicht..................................................................................................................52
5.2 Herwerking resultatenrekening (EBIT & EBITDA)........................................................................52
5.3 Verticale of horizontale analyse..................................................................................................53
5.4 Oefening.....................................................................................................................................53
5.5 Oefening Torfs............................................................................................................................54
5.6 Oefening EBIT & EBITDA.............................................................................................................58
5.7 Oefening horizontale analyse (jaren vergelijken).......................................................................58
5.7.1 Balans..................................................................................................................................58
5.7.2 Resultatenrekening..............................................................................................................59
5.8 Oefening verticale analyse (structuur opmaken)........................................................................60
5.8.1 Balans..................................................................................................................................60
5.8.2 Resultatenrekening..............................................................................................................61
5.9 Ratio-analyse..............................................................................................................................61
6 Liquiditeit...........................................................................................................................................61
6.1 Ratio’s (algemene liquiditeit)......................................................................................................62
6.1.1 Netto-bedrijfskapitaal..........................................................................................................62
6.1.2 Netto bedrijfskapitaalbehoefte............................................................................................62
6.1.3 Nettokas...............................................................................................................................62
6.1.4 Nettokas ratio......................................................................................................................63
6.1.5 Liquiditeit.............................................................................................................................63
6.2 Oefening algemene liquiditeit....................................................................................................63
6.3 Oefening 2 Leonidas...................................................................................................................65
6.4 Oefening 3 current en acid ratio.................................................................................................66
7 Rotatieratio’s.....................................................................................................................................67
7.1 Verschilllende ratio’s..................................................................................................................67
3
, 7.1.1 Voorraadrotatie aangekochte voorraden............................................................................67
7.1.2 Voorraadrotatie geproduceerde voorraden........................................................................67
7.1.3 Aantal dagen klantenkrediet................................................................................................67
7.1.4 Aantal dagen leverancierskrediet........................................................................................68
7.2 Oefening Torfs............................................................................................................................68
7.3 Oefening 7 Leonidas...................................................................................................................69
7.3.1 Voorraadrotatie aangekochte voorraden............................................................................69
7.3.2 Voorraadrotatie geproduceerde voorraden........................................................................69
7.3.3 Aantal dagen klantenkrediet................................................................................................70
7.3.4 Aantal dagen leverancierskrediet........................................................................................70
7.4 Oefening voorraad......................................................................................................................71
8 Solvabiliteit........................................................................................................................................72
8.1 Statische solvabiliteit..................................................................................................................72
8.1.1 Algemene schuldgraad.........................................................................................................72
8.1.2 Lange termijnschuldgraad....................................................................................................72
8.1.3 Graad van financiële onafhankelijkheid...............................................................................72
8.1.4 Zelffinancieringsgraad..........................................................................................................72
8.2 Dynamische solvabiliteit.............................................................................................................73
8.2.1 Intrestdekking......................................................................................................................73
8.2.2 Dekking vreemd vermogen (door cashflow)........................................................................73
8.2.3 Dekking vreemd vermogen LT (door cashflow)....................................................................74
8.2.4 Dekking LT schulden die < 1 jaar vervallen..........................................................................74
8.3 Oefening Torfs............................................................................................................................74
8.4 Oefening.....................................................................................................................................76
8.5 Oefening.....................................................................................................................................77
8.6 Oefening.....................................................................................................................................77
9 Rendabiliteit......................................................................................................................................81
9.1 Soorten rendabiliteit...................................................................................................................81
9.1.1 Rendabiliteit op verkopen....................................................................................................81
9.1.2 Rendabiliteit op totale activa (ROA).....................................................................................82
9.1.3 Rendabiliteit op bedrijfsactiva.............................................................................................83
9.1.4 Rendabiliteit op eigen vermogen.........................................................................................83
9.2 Financiële hefboom....................................................................................................................83
9.3 Oefening.....................................................................................................................................84
9.4 Inzichtsvraag...............................................................................................................................87
9.5 Oefening.....................................................................................................................................88
4
Inhoud
1 Deel 1: Het boekhoudkundig systeem.................................................................................................5
1.1 Het wetgevend kader...................................................................................................................6
1.2 Boekhoudprincipes.......................................................................................................................6
1.3 Waardering – Begrippen...............................................................................................................8
1.3.1 Verwerving.............................................................................................................................8
1.3.2 Wijziging in de waardering van activa....................................................................................9
1.3.3 Realisatie van een actief =...................................................................................................10
2 Deel 2-3: Studie van de activa............................................................................................................10
2.1 Oprichtingskosten.......................................................................................................................10
2.1.1 Oefening oprichtingskosten:................................................................................................11
2.1.2 Oefening..............................................................................................................................12
2.2 Immateriële vaste activa.............................................................................................................12
2.2.1 Verwerving van IVA..............................................................................................................13
2.2.2 Wijziging in de waardering...................................................................................................13
2.2.3 Realisatie.............................................................................................................................14
2.2.4 IFRS......................................................................................................................................14
2.2.5 Oefening inbrenging immaterieel vast actief.......................................................................14
2.2.6 Oefening aanschaffingswaarde............................................................................................15
2.2.7 Oefening immaterieel vast actief (soft)...............................................................................15
2.2.8 Oefening merk met waardevermindering of -vermeerdering..............................................17
2.3 Materiële vaste activa.................................................................................................................17
2.3.1 Verwerving...........................................................................................................................17
2.3.2 Wijziging in de waardering...................................................................................................18
2.3.3 Realisatie.............................................................................................................................19
2.3.4 Uitgestelde belastingen op de gerealiseerde meerwaarden...............................................19
2.3.5 IFRS......................................................................................................................................19
2.3.6 Oefening verwerving kantoormeubilair (MVA)....................................................................19
2.3.7 Oefening meerwaarde.........................................................................................................21
2.3.8 Oefening gebouw en terrein afschrijving en meerwaarde...................................................24
2.4 Financiële vaste activa................................................................................................................26
2.4.1 Verwerving...........................................................................................................................27
2.4.2 Wijzigingen in de waardering...............................................................................................27
1
, 2.4.3 Realisatie.............................................................................................................................28
2.4.4 IFRS......................................................................................................................................28
2.4.5 Oefening controlebevoegdheid...........................................................................................28
2.4.6 Oefening..............................................................................................................................29
2.5 Voorraden en bestellingen in uitvoering....................................................................................30
2.5.1 Verwerving...........................................................................................................................30
2.5.2 Wijziging in de waardering...................................................................................................31
2.5.3 IFRS......................................................................................................................................32
2.5.4 Oefening..............................................................................................................................33
2.5.5 Oefening zo laag mogelijk winstcijfer..................................................................................33
2.5.6 Oefening LIFO en FIFO.........................................................................................................34
2.6 Vorderingen................................................................................................................................34
2.6.1 Verwerving...........................................................................................................................35
2.6.2 Wijzigingen in de waardering...............................................................................................35
2.6.3 Realisatie.............................................................................................................................36
2.6.4 IFRS......................................................................................................................................36
2.6.5 Oefening..............................................................................................................................36
2.7 Geldbeleggingen en liquide middelen........................................................................................37
2.7.1 Verwerving van een geldbelegging......................................................................................38
2.7.2 Wijzigingen in de waardering van geldbeleggingen.............................................................38
2.7.3 Realisatie van de geldbelegging...........................................................................................38
2.7.4 Waarderingen van liquide middelen....................................................................................38
2.7.5 Verwerving door ontvangst liquiditeiten.............................................................................38
2.7.6 Oefening..............................................................................................................................39
3 Deel 4: Studie van de Passiva.............................................................................................................40
3.1 Kapitaal.......................................................................................................................................40
3.2 Uitgiftepremies...........................................................................................................................40
3.3 Reserves......................................................................................................................................40
3.4 Eigen vermogen..........................................................................................................................42
3.4.1 Overgedragen winsten.........................................................................................................42
3.4.2 Kapitaalsubsidie...................................................................................................................42
3.5 Voorzieningen en uitgestelde belastingen..................................................................................42
3.5.1 Balans en resultatenrekening voorziening...........................................................................42
3.5.2 Verwerving...........................................................................................................................43
3.5.3 Wijziging in waardering.......................................................................................................43
3.5.4 Realisatie.............................................................................................................................43
2
, 3.5.5 IFRS......................................................................................................................................43
3.5.6 Oefening..............................................................................................................................43
3.6 Schulden.....................................................................................................................................45
3.6.1 IFRS......................................................................................................................................46
3.7 Overlopende rekeningen............................................................................................................46
3.7.1 Oefeningen overlopende rekeningen..................................................................................46
3.8 Resultaatverwerking...................................................................................................................48
3.8.1 Verwerkingen.......................................................................................................................49
3.8.2 Oefening..............................................................................................................................50
4 Deel 5: Studie van de Resultatenrekening.........................................................................................51
5 Voorbereiding financiële analyse.......................................................................................................52
5.1 Financieel evenwicht..................................................................................................................52
5.2 Herwerking resultatenrekening (EBIT & EBITDA)........................................................................52
5.3 Verticale of horizontale analyse..................................................................................................53
5.4 Oefening.....................................................................................................................................53
5.5 Oefening Torfs............................................................................................................................54
5.6 Oefening EBIT & EBITDA.............................................................................................................58
5.7 Oefening horizontale analyse (jaren vergelijken).......................................................................58
5.7.1 Balans..................................................................................................................................58
5.7.2 Resultatenrekening..............................................................................................................59
5.8 Oefening verticale analyse (structuur opmaken)........................................................................60
5.8.1 Balans..................................................................................................................................60
5.8.2 Resultatenrekening..............................................................................................................61
5.9 Ratio-analyse..............................................................................................................................61
6 Liquiditeit...........................................................................................................................................61
6.1 Ratio’s (algemene liquiditeit)......................................................................................................62
6.1.1 Netto-bedrijfskapitaal..........................................................................................................62
6.1.2 Netto bedrijfskapitaalbehoefte............................................................................................62
6.1.3 Nettokas...............................................................................................................................62
6.1.4 Nettokas ratio......................................................................................................................63
6.1.5 Liquiditeit.............................................................................................................................63
6.2 Oefening algemene liquiditeit....................................................................................................63
6.3 Oefening 2 Leonidas...................................................................................................................65
6.4 Oefening 3 current en acid ratio.................................................................................................66
7 Rotatieratio’s.....................................................................................................................................67
7.1 Verschilllende ratio’s..................................................................................................................67
3
, 7.1.1 Voorraadrotatie aangekochte voorraden............................................................................67
7.1.2 Voorraadrotatie geproduceerde voorraden........................................................................67
7.1.3 Aantal dagen klantenkrediet................................................................................................67
7.1.4 Aantal dagen leverancierskrediet........................................................................................68
7.2 Oefening Torfs............................................................................................................................68
7.3 Oefening 7 Leonidas...................................................................................................................69
7.3.1 Voorraadrotatie aangekochte voorraden............................................................................69
7.3.2 Voorraadrotatie geproduceerde voorraden........................................................................69
7.3.3 Aantal dagen klantenkrediet................................................................................................70
7.3.4 Aantal dagen leverancierskrediet........................................................................................70
7.4 Oefening voorraad......................................................................................................................71
8 Solvabiliteit........................................................................................................................................72
8.1 Statische solvabiliteit..................................................................................................................72
8.1.1 Algemene schuldgraad.........................................................................................................72
8.1.2 Lange termijnschuldgraad....................................................................................................72
8.1.3 Graad van financiële onafhankelijkheid...............................................................................72
8.1.4 Zelffinancieringsgraad..........................................................................................................72
8.2 Dynamische solvabiliteit.............................................................................................................73
8.2.1 Intrestdekking......................................................................................................................73
8.2.2 Dekking vreemd vermogen (door cashflow)........................................................................73
8.2.3 Dekking vreemd vermogen LT (door cashflow)....................................................................74
8.2.4 Dekking LT schulden die < 1 jaar vervallen..........................................................................74
8.3 Oefening Torfs............................................................................................................................74
8.4 Oefening.....................................................................................................................................76
8.5 Oefening.....................................................................................................................................77
8.6 Oefening.....................................................................................................................................77
9 Rendabiliteit......................................................................................................................................81
9.1 Soorten rendabiliteit...................................................................................................................81
9.1.1 Rendabiliteit op verkopen....................................................................................................81
9.1.2 Rendabiliteit op totale activa (ROA).....................................................................................82
9.1.3 Rendabiliteit op bedrijfsactiva.............................................................................................83
9.1.4 Rendabiliteit op eigen vermogen.........................................................................................83
9.2 Financiële hefboom....................................................................................................................83
9.3 Oefening.....................................................................................................................................84
9.4 Inzichtsvraag...............................................................................................................................87
9.5 Oefening.....................................................................................................................................88
4
