Samenvatting Accounting 2

Financiële analyse

, Inhoudsopgave
Strategie analyse ..................................................................................................................................................... 3
Waarom? ............................................................................................................................................................ 3
Industry analyse – Porter’s five forces ................................................................................................................ 3
Competitive strategy analyse ............................................................................................................................. 3
Corporate strategy .............................................................................................................................................. 3
Accounting analyse ................................................................................................................................................. 3
6 stappen ............................................................................................................................................................ 3
Accounting analyse pitfalls ................................................................................................................................. 4
Asset distortions ................................................................................................................................................. 4
Liability distortions ............................................................................................................................................. 4
Equity distortions ................................................................................................................................................ 4
Financiële analyse ................................................................................................................................................... 4
Ratio analyse ....................................................................................................................................................... 4
Measuring overall profitability ........................................................................................................................... 5
Traditional approach ...................................................................................................................................... 5
Alternative approach ...................................................................................................................................... 5
Operating Management ..................................................................................................................................... 6
Investment management ................................................................................................................................... 6
Financial management ....................................................................................................................................... 7
Sustainable Growth Rate .................................................................................................................................... 7
Cash flow analyse ............................................................................................................................................... 7
Prospectieve analyse ............................................................................................................................................... 8
Forecasting ......................................................................................................................................................... 8
3 stappen of forecasting ................................................................................................................................. 8
Valuation............................................................................................................................................................. 8
Discounted dividend ....................................................................................................................................... 8
Discounted cash flows .................................................................................................................................... 8
Discounted abnormal earnings ...................................................................................................................... 8
Terminal Value Assessment ........................................................................................................................... 8
Price multiples ................................................................................................................................................ 8
Equity security analysis ........................................................................................................................................... 8
Fund management .............................................................................................................................................. 8
Security analysis.................................................................................................................................................. 9
Credit analysis ......................................................................................................................................................... 9
Credit Market ...................................................................................................................................................... 9
The Credit Analysis Process ................................................................................................................................ 9