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\author{mlboshoff}
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  /Title (financial-statement-analysis.pdf)
  /Creator (Cheatography)
  /Author (mlboshoff)
  /Subject (Financial Statement Analysis Cheat Sheet)
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        \hspace*{-6pt}\includegraphics[width=5.8cm]{/web/www.cheatography.com/public/images/cheatography_logo.pdf}}
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    \vspace{-2pt}\large{\bf{\textcolor{DarkBackground}{\textrm{Financial Statement Analysis Cheat Sheet}}}} \\
    \normalsize{by \textcolor{DarkBackground}{mlboshoff} via \textcolor{DarkBackground}{\uline{cheatography.com/37296/cs/11710/}}}
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  \mymulticolumn{2}{p{5.377cm}}{\bf\textcolor{white}{Cheatographer}}  \\
  \vspace{-2pt}mlboshoff \\
  \uline{cheatography.com/mlboshoff} \\
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  \mymulticolumn{1}{p{5.377cm}}{\bf\textcolor{white}{Cheat Sheet}}  \\
   \vspace{-2pt}Published 5th May, 2017.\\
   Updated 5th May, 2017.\\
   Page {\thepage} of \pageref{LastPage}.
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  Measure your website readability!\\
  www.readability-score.com
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\begin{document}
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\begin{multicols*}{3}

\begin{tabularx}{5.377cm}{x{0.86963 cm} x{1.69349 cm} x{2.01388 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{3}{x{5.377cm}}{\bf\textcolor{white}{Liquidity Ratios}}  \tn
% Row 0
\SetRowColor{LightBackground}
{\bf{Current Ratio}} & Current \seqsplit{Assets:Current} Liabilities & Company's ability to meet its short term obligations \tn 
% Row Count 4 (+ 4)
% Row 1
\SetRowColor{white}
{\bf{Quick Ratio}} & Liquid \seqsplit{Assets:Current} Liabilities & Liquid assets not only excludes inventory \tn 
% Row Count 7 (+ 3)
\hhline{>{\arrayrulecolor{DarkBackground}}---}
\SetRowColor{LightBackground}
\mymulticolumn{3}{x{5.377cm}}{Is the level of operating capital management to aggressive? Could lead to a loss in business. Also take into account level of operating risk and costs associated with short-term finance.}  \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}---}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{1.73926 cm} x{1.09848 cm} x{1.73926 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{3}{x{5.377cm}}{\bf\textcolor{white}{Debt Management Ratios}}  \tn
% Row 0
\SetRowColor{LightBackground}
{\bf{Debt ratio}} & Total Debt / Total Assets & Indicates extent to which company uses external financing to finance assets \tn 
% Row Count 5 (+ 5)
% Row 1
\SetRowColor{white}
{\bf{Interest Cover or Times interest earned}} & EBIT / Interest & Ability to meet interest obligation. EBITDA also used. \tn 
% Row Count 9 (+ 4)
% Row 2
\SetRowColor{LightBackground}
{\bf{Debt/Equity ratio}} & Total \seqsplit{Debt/Total} Equity & Gearing ratio of the company \tn 
% Row Count 12 (+ 3)
\hhline{>{\arrayrulecolor{DarkBackground}}---}
\SetRowColor{LightBackground}
\mymulticolumn{3}{x{5.377cm}}{May need to restate balance sheet {\bf{interest earning debt}} - Preference shares (redeemable=debt), deferred tax (do you have obligation to pay?), minority interest (equity), non-interest bearing debt (treat as debt or deduct)}  \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}---}
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\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{1.69349 cm} x{1.23579 cm} x{1.64772 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{3}{x{5.377cm}}{\bf\textcolor{white}{Measures of Profitability}}  \tn
% Row 0
\SetRowColor{LightBackground}
{\bf{Profit Margin}} & Profit / Turnover & Calculated at different levels. Non-trade income should not be included \tn 
% Row Count 6 (+ 6)
% Row 1
\SetRowColor{white}
{\bf{Organisational profitability / Return on total assets}} & EBIAT / Total Assets & Return on enterprise as a whole \tn 
% Row Count 11 (+ 5)
% Row 2
\SetRowColor{LightBackground}
{\bf{Return on Equity}} & Equity Earnings / Total Equity & Difference between ROA and ROE is financial leverage \tn 
% Row Count 15 (+ 4)
% Row 3
\SetRowColor{white}
{\bf{Financial leverage}} & ROA vs ROE &  \tn 
% Row Count 17 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}---}
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\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{1.41887 cm} x{1.60195 cm} x{1.55618 cm} }
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\mymulticolumn{3}{x{5.377cm}}{\bf\textcolor{white}{Asset Management / effectiveness}}  \tn
% Row 0
\SetRowColor{LightBackground}
{\bf{Inventory turnover}} & Cost of sales / Average inventory (times) & Effectively manage and control inventory. Poor turnover may indicate obsolete stock. (if you don't have COS use SALES) \tn 
% Row Count 10 (+ 10)
% Row 1
\SetRowColor{white}
{\bf{Inventory turnover rate}} & Average inventory / COS x 365 (days) & Length of time that inventory is on average held before it is sold. \tn 
% Row Count 16 (+ 6)
% Row 2
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{\bf{Days' sales in closing inventory}} & Closing Inventory / COS x 365 (days) & Days sales left from current closing inventory \tn 
% Row Count 20 (+ 4)
% Row 3
\SetRowColor{white}
{\bf{Debtor's turnover}} & Credit Sales / Average Debtor (times) & Evaluate application of Co's credit policy. Too short (sales will be lost) \& too long (bad debts) \& opp cost \tn 
% Row Count 29 (+ 9)
% Row 4
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{\bf{Debtors Collection period}} & Average debtors / Credit sales x 365 (days) & Reciprocal relationship with debtors turnover \tn 
% Row Count 33 (+ 4)
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\par\addvspace{1.3em}

\vfill
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\begin{tabularx}{5.377cm}{x{1.41887 cm} x{1.60195 cm} x{1.55618 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{3}{x{5.377cm}}{\bf\textcolor{white}{Asset Management / effectiveness (cont)}}  \tn
% Row 5
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{\bf{Days Sales in closing debtors}} & Closing debtors / Credit sales x 365 (days) & Sales represented by closing debtors \tn 
% Row Count 4 (+ 4)
% Row 6
\SetRowColor{white}
{\bf{Creditors payment period}} & Average creditors / Credit purchases x 365 (days) & Use COS if credit purchases not available. Too short (not utilising free credit) \& too long (Bad reputation) \tn 
% Row Count 13 (+ 9)
% Row 7
\SetRowColor{LightBackground}
{\bf{Asset Turnover}} & Net Sales / Assets & Management ability to utilise assets effectively to generate sales. Can use different categories of assets \tn 
% Row Count 22 (+ 9)
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\mymulticolumn{3}{x{5.377cm}}{\bf\textcolor{white}{Investor's ratios / Market value ratios}}  \tn
% Row 0
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Earnings per share & Earnings / WANOS &  \tn 
% Row Count 2 (+ 2)
% Row 1
\SetRowColor{white}
Dividend per share & Dividend / No of shares in issue &  \tn 
% Row Count 5 (+ 3)
% Row 2
\SetRowColor{LightBackground}
Earnings Yield & EPS / Share price &  \tn 
% Row Count 7 (+ 2)
% Row 3
\SetRowColor{white}
Dividend Yield & DPS / Share Price &  \tn 
% Row Count 9 (+ 2)
% Row 4
\SetRowColor{LightBackground}
Dividend cover & EPS / DPS &  \tn 
% Row Count 11 (+ 2)
% Row 5
\SetRowColor{white}
Price - Earnings Ratio & Share Price / EPS & High PE ratio can indicate investor's confidence and growth prospects. Repayment period in years of share investment. How much investors will pay per R1 of co's earnings. \tn 
% Row Count 23 (+ 12)
% Row 6
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PEG & PE / Expected sustainable growth & 2 companies taht are in different growth stages (eliminating growth impact) \tn 
% Row Count 28 (+ 5)
% Row 7
\SetRowColor{white}
Nest Asset Value per Share & NAV / WANOS & Compare share price to NAV ps = trading at a discount? \tn 
% Row Count 32 (+ 4)
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\begin{tabularx}{5.377cm}{x{1.14425 cm} x{1.69349 cm} x{1.73926 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{3}{x{5.377cm}}{\bf\textcolor{white}{Investor's ratios / Market value ratios (cont)}}  \tn
% Row 8
\SetRowColor{LightBackground}
\seqsplit{Shareholder} return & (Share price(end) - Share price(beg) + Dividend) / Share price(beg) & Compare to ALSI return \tn 
% Row Count 5 (+ 5)
% Row 9
\SetRowColor{white}
Dividend Payout ratio & DPS / EPS & Use to calculate sustainable growth \tn 
% Row Count 8 (+ 3)
% Row 10
\SetRowColor{LightBackground}
\seqsplit{Sustainable} growth & 1 - Dividend Payout Ratio &  \tn 
% Row Count 10 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}---}
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\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{1.51041 cm} x{1.41887 cm} x{1.64772 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{3}{x{5.377cm}}{\bf\textcolor{white}{Cash Flow Statement}}  \tn
% Row 0
\SetRowColor{LightBackground}
Cash flow to total debt & CF from Operations / Total Debt & Indicator of financial distress \tn 
% Row Count 3 (+ 3)
% Row 1
\SetRowColor{white}
Cash ability to cover finance charges & CF from Operations / Interest Paid & Ability to pay interest from cash available \tn 
% Row Count 7 (+ 4)
% Row 2
\SetRowColor{LightBackground}
Cash generating ability of co & CF from Operations / Turnover &  \tn 
% Row Count 10 (+ 3)
\hhline{>{\arrayrulecolor{DarkBackground}}---}
\SetRowColor{LightBackground}
\mymulticolumn{3}{x{5.377cm}}{Remember CASH IS KING! so any Cash Flow Ratio will be more reliable as to the true performance and going concern ability of the company}  \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}---}
\end{tabularx}
\par\addvspace{1.3em}


% That's all folks
\end{multicols*}

\end{document}