Martyna Mikołajek M.Sc.
Management Financial Facility Institute of Economic Sciences
Financial Statement
Analysis
Office hours
• E-mail: martyna.mikolajek@uwr.edu.pl
• Room: 106C
• Tuesday: 17:00-19:00
Recommended reading
• Fridson M., Alvarez F., Financial Statement Analysis: A Practitioner's Guide, John Wiley & Sons, Inc., New York, 2002.
• Karwowski M., Accounting and financial reporting, Warsaw School of Economics, 2015.
• Lecture’s presentations
Basic information of the Financial
Statement Analysis
Economic entities
•
Goverment•
Auditors•
Suppliers•
Consumers•
Employees•
Creditors•
ShareholdersFactors shaping the financial situation
Outside Inside
macro- environment
micro- environment
Non-
measurable quantitative -measurable
Macro-enviroment factors
• government policy
• phase of the business cycle
• financial system
• tax system accounting
• legal system
Micro-enviroment factors
• phase of the business / sector conjunctural cycle
• barriers to entry for market
• competitive strength
Non-measurable factors
• strategic management skills
• experience and competences of the staf
• information systems
• technical and technological level
• organization culture
• market position
Quantitative –measurable factors
• the value of revenues and costs
• the structure of revenues and costs (variable / permanent)
• level and structure of assets
Research on the impact of factors on value for owners
Sales factors
Factors of the profit rate on
sales
Factors of the efective tax rate
Working capital factors
Capital cost factors Factors of
property, plant and equipment
Owner
