非财务人员的财务知识培训剖析.ppt

* * * Top half: IS is a flow between two points in time on the BS. Point out what isn’t “broken out” –cost, assets. Bottom half: ROS- a measure of cost efficiency; how good are we at controlling costs to max. net income. Asset T/O-how good are we at investing(in the right assets)to max. sales with as few assets as possible ROA-this is where we see what we got out, net income, compared to what we put in, investments or assets. * Here’s 3 years of historical data. Give table teams 10 minutes to calc the ratios-by year together. After they’ve had the chance to calc the ratios as a team, walk through the correct answers briefly as teams “just yell out the answers” Now look at the variences-sales grew 100%, costs only grew 79% (productivity gains of 21%) and ‘Bam’, earnings grew 500%. Look at how these growth rates have translated into steady increased returns. This is a fundamental concept for GE: budget growth with productivity gains. Ask the teams, “Would you like to buy into this Company?” Get each team to commit a response. (Buy/No Buy?) Ask each team to briefly explain “Why?” Ask “Would you like more information?” “If so, what?” Let’s take a closer look… * Let’s take a look at some historical data… How are we doing on Cash, Receivables, Inventory, Plant/Equipment Drill down into Assets Earnings were great, what happened to cash? -Classic problem; going broke making a profit A/R up 200% Inventories up 380% (How did we get into this mess?) PE up 25% After the 1st 3 ratios, Co looked good; looking at BS, not sure. Need to see the whole picture. * Let’s take a look at some historical data… How are we doing on Cash, Receivables, Inventory, Plant/Equipment Drill down into Assets Earnings were great, what happened to cash? -Classic problem; going broke making a profit A/R up 200% Inventories up 380% (How did we get into this mess?) PE up 25% After the 1st 3 ratios, Co looked good; looking at BS, not sure. Need to see the whole picture. *