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Financial Reporting, Financial Statement Analysis, and Valuation

Financial Reporting, Financial Statement Analysis, and

  • Page 2 and 3: 8E Financial Reporting, Financial S
  • Page 4 and 5: Financial Reporting, Financial Stat
  • Page 6 and 7: PREFACE The process of financial re
  • Page 8 and 9: vi Preface statement analysis, and
  • Page 10 and 11: viii Preface transactions, such as
  • Page 12 and 13: x Preface under U.S. GAAP and IFRS
  • Page 14 and 15: xii Preface (dividends capture weal
  • Page 16 and 17: xiv Preface with respect to the seq
  • Page 18 and 19: ABOUT THE AUTHORS James M. Wahlen i
  • Page 20 and 21: BRIEF CONTENTS CHAPTER 1 Overview o
  • Page 22 and 23: xx Contents CHAPTER 2 Asset and Lia
  • Page 24 and 25: xxii Contents CHAPTER 5 Risk Analys
  • Page 26 and 27: xxiv Contents Derivative Examples 5
  • Page 28 and 29: xxvi Contents Step 1: Project Reven
  • Page 30 and 31: xxviii Contents Valuation Models fo
  • Page 32 and 33: Copyright 2015 Cengage Learning. Al
  • Page 34 and 35: 2 CHAPTER 1 Overview of Financial R
  • Page 36 and 37: 4 CHAPTER 1 Overview of Financial R
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  • Page 42 and 43: 10 CHAPTER 1 Overview of Financial
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    20 CHAPTER 1 Overview of Financial

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    22 CHAPTER 1 Overview of Financial

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    24 CHAPTER 1 Overview of Financial

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    26 CHAPTER 1 Overview of Financial

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    28 CHAPTER 1 Overview of Financial

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    30 CHAPTER 1 Overview of Financial

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    32 CHAPTER 1 Overview of Financial

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    34 CHAPTER 1 Overview of Financial

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    36 CHAPTER 1 Overview of Financial

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    38 CHAPTER 1 Overview of Financial

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    40 CHAPTER 1 Overview of Financial

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    42 CHAPTER 1 Overview of Financial

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    44 CHAPTER 1 Overview of Financial

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    46 CHAPTER 1 Overview of Financial

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    48 CHAPTER 1 Overview of Financial

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    50 CHAPTER 1 Overview of Financial

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    52 CHAPTER 1 Overview of Financial

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    54 CHAPTER 1 Overview of Financial

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    56 CHAPTER 1 Overview of Financial

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    58 CHAPTER 1 Overview of Financial

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    60 CHAPTER 1 Overview of Financial

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    62 CHAPTER 1 Overview of Financial

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    64 CHAPTER 1 Overview of Financial

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    66 CHAPTER 1 Overview of Financial

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    68 CHAPTER 1 Overview of Financial

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    70 CHAPTER 1 Overview of Financial

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    72 CHAPTER 1 Overview of Financial

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    74 CHAPTER 1 Overview of Financial

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    76 CHAPTER 1 Overview of Financial

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    78 CHAPTER 1 Overview of Financial

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    80 CHAPTER 1 Overview of Financial

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    82 CHAPTER 1 Overview of Financial

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    84 CHAPTER 1 Overview of Financial

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    86 CHAPTER 1 Overview of Financial

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    88 CHAPTER 1 Overview of Financial

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    90 CHAPTER 1 Overview of Financial

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    92 CHAPTER 1 Overview of Financial

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    94 CHAPTER 2 Asset and Liability Va

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    96 CHAPTER 2 Asset and Liability Va

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    98 CHAPTER 2 Asset and Liability Va

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    100 CHAPTER 2 Asset and Liability V

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    102 CHAPTER 2 Asset and Liability V

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    104 CHAPTER 2 Asset and Liability V

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    106 CHAPTER 2 Asset and Liability V

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    108 CHAPTER 2 Asset and Liability V

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    110 CHAPTER 2 Asset and Liability V

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    112 CHAPTER 2 Asset and Liability V

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    114 CHAPTER 2 Asset and Liability V

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    116 CHAPTER 2 Asset and Liability V

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    118 CHAPTER 2 Asset and Liability V

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    120 CHAPTER 2 Asset and Liability V

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    122 CHAPTER 2 Asset and Liability V

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    124 CHAPTER 2 Asset and Liability V

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    126 CHAPTER 2 Asset and Liability V

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    128 CHAPTER 2 Asset and Liability V

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    130 CHAPTER 2 Asset and Liability V

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    132 CHAPTER 2 Asset and Liability V

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    134 CHAPTER 2 Asset and Liability V

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    136 CHAPTER 2 Asset and Liability V

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    138 CHAPTER 2 Asset and Liability V

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    140 CHAPTER 2 Asset and Liability V

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    142 CHAPTER 2 Asset and Liability V

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    144 CHAPTER 2 Asset and Liability V

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    146 CHAPTER 2 Asset and Liability V

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    148 CHAPTER 3 Income Flows versus C

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    150 CHAPTER 3 Income Flows versus C

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    152 CHAPTER 3 Income Flows versus C

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    154 CHAPTER 3 Income Flows versus C

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    156 CHAPTER 3 Income Flows versus C

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    158 CHAPTER 3 Income Flows versus C

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    160 CHAPTER 3 Income Flows versus C

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    162 CHAPTER 3 Income Flows versus C

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    164 CHAPTER 3 Income Flows versus C

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    166 CHAPTER 3 Income Flows versus C

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    168 CHAPTER 3 Income Flows versus C

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    170 CHAPTER 3 Income Flows versus C

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    172 CHAPTER 3 Income Flows versus C

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    174 CHAPTER 3 Income Flows versus C

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    176 CHAPTER 3 Income Flows versus C

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    178 CHAPTER 3 Income Flows versus C

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    180 CHAPTER 3 Income Flows versus C

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    182 CHAPTER 3 Income Flows versus C

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    184 CHAPTER 3 Income Flows versus C

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    186 CHAPTER 3 Income Flows versus C

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    188 CHAPTER 3 Income Flows versus C

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    190 CHAPTER 3 Income Flows versus C

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    192 CHAPTER 3 Income Flows versus C

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    194 CHAPTER 3 Income Flows versus C

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    196 CHAPTER 3 Income Flows versus C

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    198 CHAPTER 3 Income Flows versus C

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    200 CHAPTER 3 Income Flows versus C

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    202 CHAPTER 3 Income Flows versus C

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    204 CHAPTER 3 Income Flows versus C

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    206 CHAPTER 3 Income Flows versus C

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    208 CHAPTER 3 Income Flows versus C

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    210 CHAPTER 3 Income Flows versus C

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    212 CHAPTER 3 Income Flows versus C

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    214 CHAPTER 3 Income Flows versus C

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    216 CHAPTER 3 Income Flows versus C

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    218 CHAPTER 3 Income Flows versus C

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    220 CHAPTER 3 Income Flows versus C

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    222 CHAPTER 3 Income Flows versus C

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    224 CHAPTER 3 Income Flows versus C

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    226 CHAPTER 3 Income Flows versus C

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    228 CHAPTER 3 Income Flows versus C

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    Exhibit 3.38 (Continued) W. T. Gran

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    232 CHAPTER 3 Income Flows versus C

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    234 CHAPTER 3 Income Flows versus C

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    236 CHAPTER 3 Income Flows versus C

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    238 CHAPTER 3 Income Flows versus C

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    240 CHAPTER 3 Income Flows versus C

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    242 CHAPTER 4 Profitability Analysi

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    244 CHAPTER 4 Profitability Analysi

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    246 CHAPTER 4 Profitability Analysi

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    248 CHAPTER 4 Profitability Analysi

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    250 CHAPTER 4 Profitability Analysi

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    252 CHAPTER 4 Profitability Analysi

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    254 CHAPTER 4 Profitability Analysi

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    258 CHAPTER 4 Profitability Analysi

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    260 CHAPTER 4 Profitability Analysi

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    270 CHAPTER 4 Profitability Analysi

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    274 CHAPTER 4 Profitability Analysi

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    276 CHAPTER 4 Profitability Analysi

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    280 CHAPTER 4 Profitability Analysi

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    282 CHAPTER 4 Profitability Analysi

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    284 CHAPTER 4 Profitability Analysi

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    286 CHAPTER 4 Profitability Analysi

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    288 CHAPTER 4 Profitability Analysi

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    290 CHAPTER 4 Profitability Analysi

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    292 CHAPTER 4 Profitability Analysi

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    294 CHAPTER 4 Profitability Analysi

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    296 CHAPTER 4 Profitability Analysi

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    298 CHAPTER 4 Profitability Analysi

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    300 CHAPTER 4 Profitability Analysi

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    302 CHAPTER 4 Profitability Analysi

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    304 CHAPTER 4 Profitability Analysi

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    306 CHAPTER 4 Profitability Analysi

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    308 CHAPTER 4 Profitability Analysi

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    310 CHAPTER 4 Profitability Analysi

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    312 CHAPTER 4 Profitability Analysi

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    316 CHAPTER 4 Profitability Analysi

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    320 CHAPTER 4 Profitability Analysi

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    322 CHAPTER 4 Profitability Analysi

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    324 CHAPTER 4 Profitability Analysi

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    326 CHAPTER 4 Profitability Analysi

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    328 CHAPTER 4 Profitability Analysi

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    330 CHAPTER 4 Profitability Analysi

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    332 CHAPTER 4 Profitability Analysi

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    Copyright 2015 Cengage Learning. Al

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    336 CHAPTER 5 Risk Analysis collect

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    338 CHAPTER 5 Risk Analysis LO 5-1

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    340 CHAPTER 5 Risk Analysis Commodi

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    342 CHAPTER 5 Risk Analysis PepsiCo

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    344 CHAPTER 5 Risk Analysis n n n A

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    346 CHAPTER 5 Risk Analysis outstan

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    348 CHAPTER 5 Risk Analysis Exhibit

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    350 CHAPTER 5 Risk Analysis Exhibit

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    352 CHAPTER 5 Risk Analysis Exhibit

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    354 CHAPTER 5 Risk Analysis require

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    356 CHAPTER 5 Risk Analysis Wide va

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    358 CHAPTER 5 Risk Analysis Working

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    360 CHAPTER 5 Risk Analysis Exhibit

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    362 CHAPTER 5 Risk Analysis compone

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    364 CHAPTER 5 Risk Analysis The int

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    366 CHAPTER 5 Risk Analysis ‘‘R

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    368 CHAPTER 5 Risk Analysis Marketa

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    370 CHAPTER 5 Risk Analysis targets

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    372 CHAPTER 5 Risk Analysis 3. Tota

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    374 CHAPTER 5 Risk Analysis 4. Mark

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    376 CHAPTER 5 Risk Analysis predict

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    378 CHAPTER 5 Risk Analysis This ov

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    380 CHAPTER 5 Risk Analysis Financi

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    382 CHAPTER 5 Risk Analysis experie

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    384 CHAPTER 5 Risk Analysis LO 5-3

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    386 CHAPTER 5 Risk Analysis c. Asse

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    388 CHAPTER 5 Risk Analysis Exhibit

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    390 CHAPTER 5 Risk Analysis Exhibit

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    392 CHAPTER 5 Risk Analysis Exhibit

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    394 CHAPTER 5 Risk Analysis Exhibit

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    396 CHAPTER 5 Risk Analysis Exhibit

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    398 CHAPTER 5 Risk Analysis The com

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    400 CHAPTER 5 Risk Analysis n n n n

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    402 CHAPTER 5 Risk Analysis Exhibit

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    404 CHAPTER 5 Risk Analysis LO 5-6

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    406 CHAPTER 5 Risk Analysis Exhibit

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    408 CHAPTER 5 Risk Analysis Exhibit

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    410 CHAPTER 5 Risk Analysis 4. Disc

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    412 CHAPTER 5 Risk Analysis the rig

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    Copyright 2015 Cengage Learning. Al

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    416 CHAPTER 6 Accounting Quality LO

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    418 CHAPTER 6 Accounting Quality No

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    420 CHAPTER 6 Accounting Quality Hi

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    422 CHAPTER 6 Accounting Quality LO

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    424 CHAPTER 6 Accounting Quality De

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    426 CHAPTER 6 Accounting Quality Ex

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    428 CHAPTER 6 Accounting Quality th

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    430 CHAPTER 6 Accounting Quality Or

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    432 CHAPTER 6 Accounting Quality Ex

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    434 CHAPTER 6 Accounting Quality Ex

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    436 CHAPTER 6 Accounting Quality ef

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    438 CHAPTER 6 Accounting Quality si

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    440 CHAPTER 6 Accounting Quality In

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    442 CHAPTER 6 Accounting Quality Wh

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    444 CHAPTER 6 Accounting Quality Ga

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    446 CHAPTER 6 Accounting Quality To

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    448 CHAPTER 6 Accounting Quality Ex

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    450 CHAPTER 6 Accounting Quality Ex

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    452 CHAPTER 6 Accounting Quality Ex

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    454 CHAPTER 6 Accounting Quality di

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    456 CHAPTER 6 Accounting Quality To

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    458 CHAPTER 6 Accounting Quality St

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    460 CHAPTER 6 Accounting Quality Ex

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    462 CHAPTER 6 Accounting Quality A

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    464 CHAPTER 6 Accounting Quality in

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    466 CHAPTER 6 Accounting Quality Be

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    468 CHAPTER 6 Accounting Quality po

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    470 CHAPTER 6 Accounting Quality Ex

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    472 CHAPTER 6 Accounting Quality wa

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    474 CHAPTER 6 Accounting Quality an

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    476 CHAPTER 6 Accounting Quality Ex

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    478 CHAPTER 6 Accounting Quality di

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    480 CHAPTER 6 Accounting Quality 20

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    482 CHAPTER 6 Accounting Quality Ex

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    484 CHAPTER 6 Accounting Quality Ex

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    486 CHAPTER 6 Accounting Quality c.

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    488 CHAPTER 6 Accounting Quality oc

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    490 CHAPTER 6 Accounting Quality ci

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    492 CHAPTER 6 Accounting Quality CA

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    494 CHAPTER 6 Accounting Quality th

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    496 CHAPTER 6 Accounting Quality In

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    498 CHAPTER 6 Accounting Quality 7.

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    500 CHAPTER 6 Accounting Quality In

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    502 CHAPTER 6 Accounting Quality Be

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    504 CHAPTER 6 Accounting Quality Ex

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    506 CHAPTER 6 Accounting Quality Ex

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    508 CHAPTER 6 Accounting Quality Ex

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    510 CHAPTER 6 Accounting Quality Ex

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    512 CHAPTER 7 Financing Activities

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    514 CHAPTER 7 Financing Activities

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    516 CHAPTER 7 Financing Activities

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    518 CHAPTER 7 Financing Activities

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    520 CHAPTER 7 Financing Activities

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    522 CHAPTER 7 Financing Activities

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    524 CHAPTER 7 Financing Activities

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    526 CHAPTER 7 Financing Activities

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    528 CHAPTER 7 Financing Activities

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    530 CHAPTER 7 Financing Activities

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    532 CHAPTER 7 Financing Activities

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    534 CHAPTER 7 Financing Activities

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    536 CHAPTER 7 Financing Activities

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    538 CHAPTER 7 Financing Activities

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    540 CHAPTER 7 Financing Activities

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    542 CHAPTER 7 Financing Activities

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    544 CHAPTER 7 Financing Activities

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    546 CHAPTER 7 Financing Activities

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    548 CHAPTER 7 Financing Activities

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    550 CHAPTER 7 Financing Activities

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    552 CHAPTER 7 Financing Activities

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    554 CHAPTER 7 Financing Activities

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    556 CHAPTER 7 Financing Activities

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    558 CHAPTER 7 Financing Activities

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    560 CHAPTER 7 Financing Activities

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    562 CHAPTER 7 Financing Activities

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    564 CHAPTER 7 Financing Activities

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    566 CHAPTER 7 Financing Activities

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    568 CHAPTER 7 Financing Activities

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    570 CHAPTER 7 Financing Activities

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    572 CHAPTER 7 Financing Activities

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    574 CHAPTER 7 Financing Activities

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    576 CHAPTER 7 Financing Activities

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    578 CHAPTER 7 Financing Activities

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    580 CHAPTER 7 Financing Activities

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    582 CHAPTER 7 Financing Activities

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    584 CHAPTER 7 Financing Activities

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    586 CHAPTER 7 Financing Activities

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    588 CHAPTER 7 Financing Activities

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    590 CHAPTER 7 Financing Activities

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    592 CHAPTER 8 Investing Activities

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    594 CHAPTER 8 Investing Activities

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    596 CHAPTER 8 Investing Activities

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    598 CHAPTER 8 Investing Activities

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    600 CHAPTER 8 Investing Activities

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    602 CHAPTER 8 Investing Activities

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    604 CHAPTER 8 Investing Activities

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    606 CHAPTER 8 Investing Activities

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    608 CHAPTER 8 Investing Activities

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    610 CHAPTER 8 Investing Activities

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    612 CHAPTER 8 Investing Activities

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    614 CHAPTER 8 Investing Activities

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    616 CHAPTER 8 Investing Activities

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    618 CHAPTER 8 Investing Activities

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    620 CHAPTER 8 Investing Activities

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    622 CHAPTER 8 Investing Activities

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    624 CHAPTER 8 Investing Activities

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    626 CHAPTER 8 Investing Activities

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    628 CHAPTER 8 Investing Activities

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    630 CHAPTER 8 Investing Activities

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    632 CHAPTER 8 Investing Activities

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    634 CHAPTER 8 Investing Activities

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    636 CHAPTER 8 Investing Activities

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    638 CHAPTER 8 Investing Activities

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    640 CHAPTER 8 Investing Activities

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    642 CHAPTER 8 Investing Activities

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    644 CHAPTER 8 Investing Activities

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    646 CHAPTER 8 Investing Activities

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    648 CHAPTER 8 Investing Activities

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    650 CHAPTER 8 Investing Activities

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    652 CHAPTER 8 Investing Activities

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    654 CHAPTER 8 Investing Activities

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    656 CHAPTER 8 Investing Activities

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    658 CHAPTER 8 Investing Activities

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    660 CHAPTER 8 Investing Activities

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    662 CHAPTER 8 Investing Activities

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    664 CHAPTER 8 Investing Activities

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    666 CHAPTER 8 Investing Activities

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    668 CHAPTER 8 Investing Activities

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    670 CHAPTER 8 Investing Activities

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    672 CHAPTER 8 Investing Activities

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    674 CHAPTER 8 Investing Activities

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    676 CHAPTER 8 Investing Activities

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    678 CHAPTER 8 Investing Activities

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    680 CHAPTER 8 Investing Activities

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    682 CHAPTER 9 Operating Activities

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    684 CHAPTER 9 Operating Activities

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    686 CHAPTER 9 Operating Activities

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    688 CHAPTER 9 Operating Activities

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    690 CHAPTER 9 Operating Activities

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    694 CHAPTER 9 Operating Activities

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    710 CHAPTER 9 Operating Activities

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    712 CHAPTER 9 Operating Activities

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    714 CHAPTER 9 Operating Activities

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    716 CHAPTER 9 Operating Activities

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    718 CHAPTER 9 Operating Activities

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    720 CHAPTER 9 Operating Activities

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    728 CHAPTER 9 Operating Activities

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    730 CHAPTER 9 Operating Activities

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    740 CHAPTER 9 Operating Activities

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    756 CHAPTER 9 Operating Activities

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    758 CHAPTER 9 Operating Activities

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    760 CHAPTER 9 Operating Activities

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    762 CHAPTER 10 Forecasting Financia

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    764 CHAPTER 10 Forecasting Financia

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    766 CHAPTER 10 Forecasting Financia

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    768 CHAPTER 10 Forecasting Financia

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    770 CHAPTER 10 Forecasting Financia

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    772 CHAPTER 10 Forecasting Financia

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    774 CHAPTER 10 Forecasting Financia

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    776 CHAPTER 10 Forecasting Financia

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    780 CHAPTER 10 Forecasting Financia

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    782 CHAPTER 10 Forecasting Financia

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    788 CHAPTER 10 Forecasting Financia

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    790 CHAPTER 10 Forecasting Financia

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    792 CHAPTER 10 Forecasting Financia

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    794 CHAPTER 10 Forecasting Financia

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    796 CHAPTER 10 Forecasting Financia

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    798 CHAPTER 10 Forecasting Financia

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    800 CHAPTER 10 Forecasting Financia

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    802 CHAPTER 10 Forecasting Financia

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    804 CHAPTER 10 Forecasting Financia

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    806 CHAPTER 10 Forecasting Financia

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    808 CHAPTER 10 Forecasting Financia

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    810 CHAPTER 10 Forecasting Financia

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    818 CHAPTER 10 Forecasting Financia

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    820 CHAPTER 10 Forecasting Financia

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    830 CHAPTER 10 Forecasting Financia

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    842 CHAPTER 10 Forecasting Financia

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    860 CHAPTER 11 Risk-Adjusted Expect

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    862 CHAPTER 11 Risk-Adjusted Expect

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    864 CHAPTER 11 Risk-Adjusted Expect

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    866 CHAPTER 11 Risk-Adjusted Expect

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    870 CHAPTER 11 Risk-Adjusted Expect

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    872 CHAPTER 11 Risk-Adjusted Expect

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    874 CHAPTER 11 Risk-Adjusted Expect

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    876 CHAPTER 11 Risk-Adjusted Expect

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    878 CHAPTER 11 Risk-Adjusted Expect

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    880 CHAPTER 11 Risk-Adjusted Expect

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    882 CHAPTER 11 Risk-Adjusted Expect

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    884 CHAPTER 11 Risk-Adjusted Expect

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    886 CHAPTER 11 Risk-Adjusted Expect

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    888 CHAPTER 11 Risk-Adjusted Expect

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    890 CHAPTER 11 Risk-Adjusted Expect

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    892 CHAPTER 11 Risk-Adjusted Expect

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    894 CHAPTER 11 Risk-Adjusted Expect

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    896 CHAPTER 11 Risk-Adjusted Expect

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    900 CHAPTER 11 Risk-Adjusted Expect

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    902 CHAPTER 11 Risk-Adjusted Expect

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    904 CHAPTER 11 Risk-Adjusted Expect

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    906 CHAPTER 12 Valuation: Cash-Flow

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    908 CHAPTER 12 Valuation: Cash-Flow

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    910 CHAPTER 12 Valuation: Cash-Flow

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    912 CHAPTER 12 Valuation: Cash-Flow

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    914 CHAPTER 12 Valuation: Cash-Flow

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    918 CHAPTER 12 Valuation: Cash-Flow

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    920 CHAPTER 12 Valuation: Cash-Flow

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    922 CHAPTER 12 Valuation: Cash-Flow

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    924 CHAPTER 12 Valuation: Cash-Flow

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    938 CHAPTER 12 Valuation: Cash-Flow

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    940 CHAPTER 12 Valuation: Cash-Flow

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    942 CHAPTER 12 Valuation: Cash-Flow

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    944 CHAPTER 12 Valuation: Cash-Flow

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    948 CHAPTER 12 Valuation: Cash-Flow

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    950 CHAPTER 12 Valuation: Cash-Flow

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    952 CHAPTER 12 Valuation: Cash-Flow

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    962 CHAPTER 12 Valuation: Cash-Flow

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    968 CHAPTER 13 Valuation: Earnings-

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    970 CHAPTER 13 Valuation: Earnings-

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    972 CHAPTER 13 Valuation: Earnings-

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    974 CHAPTER 13 Valuation: Earnings-

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    978 CHAPTER 13 Valuation: Earnings-

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    980 CHAPTER 13 Valuation: Earnings-

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    1006 CHAPTER 14 Valuation: Market-B

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    1008 CHAPTER 14 Valuation: Market-B

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    Copyright 2015 Cengage Learning. Al

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    A-2 APPENDIX A Financial Statements

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    A-4 APPENDIX A Financial Statements

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    A-6 APPENDIX A Financial Statements

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    A-8 APPENDIX A Financial Statements

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    A-10 APPENDIX A Financial Statement

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    A-12 APPENDIX A Financial Statement

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    A-14 APPENDIX A Financial Statement

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    A-16 APPENDIX A Financial Statement

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    A-18 APPENDIX A Financial Statement

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    A-20 APPENDIX A Financial Statement

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    A-22 APPENDIX A Financial Statement

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    A-24 APPENDIX A Financial Statement

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    A-26 APPENDIX A Financial Statement

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    Management’s Discussion and Analy

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    C-2 APPENDIX C Financial Statement

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    C-4 APPENDIX C Financial Statement

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    C-6 APPENDIX C Financial Statement

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    C-8 APPENDIX C Financial Statement

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    C-10 APPENDIX C Financial Statement

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    C-12 APPENDIX C Financial Statement

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    C-14 APPENDIX C Financial Statement

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    C-22 APPENDIX C Financial Statement

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    C-24 APPENDIX C Financial Statement

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    C-26 APPENDIX C Financial Statement

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    C-28 APPENDIX C Financial Statement

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    C-30 APPENDIX C Financial Statement

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    C-32 APPENDIX C Financial Statement

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    C-34 APPENDIX C Financial Statement

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    C-36 APPENDIX C Financial Statement

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    C-38 APPENDIX C Financial Statement

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    C-40 APPENDIX C Financial Statement

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    Copyright 2015 Cengage Learning. Al

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    I-2 Index Apple Inc., 58 cash flows

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    I-4 Index Citigroup Inc. (Citi), 47

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    I-6 Index cash flows, and EBITDA, r

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    I-8 Index free cash flows for all d

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    I-10 Index investments, 23-24 by sh

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    I-12 Index noncurrent liabilities c

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    I-14 Index shareholders’ equity v

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    I-16 Index Shaw’s, 301 short inte

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    I-18 Index univariate bankruptcy pr

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