首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
• Read the article below about how to read annual report and the questions on the opposite page. • For each question 13-18, mark
• Read the article below about how to read annual report and the questions on the opposite page. • For each question 13-18, mark
admin
2010-01-22
86
问题
• Read the article below about how to read annual report and the questions on the opposite page.
• For each question 13-18, mark one letter (A, B, C or D) on your Answer Sheet for the answer you choose.
How to read annual reports
First, turn back to the report of the certified public accountant. This third-party auditor will tell you fight off the bat if Galaxy’s report conforms with "generally accepted accounting principles". Then go to the footnotes. Check to see whether earnings are up or down. The footnotes often tell the whole story.
Then turn to the letter from the chairman, Usually addressed "to our shareholders," it’s up front -- and should be in more ways than one. The chairman’s tone reflects the personality, the well- being of the company. In this letter, the chairman should tell you how the company fared this year. But more important, the letter should tell you why. Keep an eye out for sentences that start with "Except for..." and "Despite the..." They’re clues to problems. On the positive side, a chairman’s letter should give you insights into the company’s future and its stance on economic or political trends that may affect it.
Now begin digging into the numbers!
One source is the balance sheet. It is a snapshot of how the company stands at a single point in time. On the top are assets -- everything the company owns. Things that can quickly be turned into cash are current assets. On the bottom are liabilities -- everything the company owes. Current liabilities are the debts due in one year, which are paid out of current assets. The difference between current assets and current liabilities is working capital, a key figure to watch from one annual report to another. If working capital shrinks, it could mean trouble, one possibility: the company may not be able to keep dividends growing rapidly. Owners’ equity is the difference between total assets and liabilities. It is the presumed dollar value of what the owners or shareholders own. You want it to grow.
The second basic source of numbers is the income statement. It shows how much money Galaxy made or lost over the year. Most people look at one figure first. It’s in the income statement at the bottom: earnings per share. Watch out. It can fool you. Galaxy’s management could boost earnings by selling off a plant. Or by cutting the budget for research and advertising. The number you .should look at first in the income statement is net sales. Ask yourself: are sales going up at a faster rate than the last time around? When sales increases start to slow, the company may be in trouble. Have sales gone down because the company is selling off a losing business? If so, profits may be soaring.
Another important thing to study is the company’s debt. Turn to the balance, and divide long-term liabilities by owners’ equity. That’s the debt-to- equity ratio. A high ratio means the company borrows a lot of money to spark its growth. That’s okay -- if sales grow too, and d there’s enough cash on hand to meet the payments. A company doing well on borrowed money can earn big profits for its shareholders. But if sales fall, watch out. The whole enterprise may slowly sink. Some companies can handle high ratios; others can’t.
Finally, you have to compare. Is the company’s debt-to-equity ratio better or worse than it used to be? Better or worse than the industry norms? In company-watching, comparisons are all. They tell you if management is staying on top of things.
What makes it clear that the company is well-managed?
选项
A、The chairman’s letter.
B、Auditor’s report.
C、Comparison made by the reader.
D、Footnotes.
答案
C
解析
转载请注明原文地址:https://kaotiyun.com/show/DcsO777K
本试题收录于:
BEC中级阅读题库BEC商务英语分类
0
BEC中级阅读
BEC商务英语
相关试题推荐
ReadthefollowingarticleabouttheworkinghoursofBritonsandthequestions.Foreachquestion15-20,markoneletterA,B,
Readthisletterwhichisaboutarequestfaractingasagent.ChoosethebestsentencesfromthelistA-Itofilleachofthe
ReadthearticlebelowabouttheInternettoday.ChoosethebestwordtofilleachgapfromA,B,CorD.Foreachquestion21-3
Readthefollowingarticleaboutgeneralmanagersandthequestionsontheoppositepage.Eachquestionhasyoursuggestedansw
Readthistextfromanarticleaboutovercomingthelanguagebarrier.Choosethebestsentencefromtheoppositepagetofilli
Readthistextfromanarticleaboutovercomingthelanguagebarrier.Choosethebestsentencefromtheoppositepagetofilli
ReadthetextbelowabouttheU.S.economy.Inmostofthelines41-52thereisoneextraword.Itiseithergrammaticallyinc
Readthetextbelowaboutsupermarketcheckouts.Inmostofthelines41-52,thereisoneextraword.Itiseithergrammatically
Readthetextbelowaboutsupermarketcheckouts.Inmostofthelines41-52,thereisoneextraword.Itiseithergrammatically
Readthetextbelowaboutsupermarketcheckouts.Inmostofthelines41-52,thereisoneextraword.Itiseithergrammatically
随机试题
你在计量检定工作中是根据什么原则判定被检计量器具是合格还是不合格的?
盆带肌群中最大的肌肉为()。
根本性解决风湿性心脏瓣膜病的手段是()。
用频谱多普勒肺动脉高压的肺动脉血流的特点是
患儿,男,12岁。因外伤引起到冠部折断,髓室暴露,叩诊疼痛,前牙区咬关系正常,X线牙片显示根尖未完全形成。如果患者需做桩冠修复,在根管充填后,选择桩冠修复的时间是
钢梁构件出厂时,厂方应提交()等资料。
已知函数,当3<x<4,y的最大值为4,y的最小值为一4。()
美国心理学家桑代克反对形式训练说,提出了迁移的()。
将一枚硬币独立地掷两次,引进事件:A1={掷第一次出现正面},A2={掷第二次出现正面},A3={正、反面各出现一次},A4={正面出现两次},则事件
A、 B、 C、 D、 D
最新回复
(
0
)