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 following article about annual reports and the questions on the opposite page. For each question(13-18), mark one lett
Read the following article about annual reports and the questions on the opposite page. For each question(13-18), mark one lett
admin
2013-08-03
27
问题
Read the following article about annual reports and the questions on the opposite page.
For each question(13-18), mark one letter(A, B, C or D)on your Answer Sheet.
How to Read Annual Reports
First, turn back to the report of the certified public accountant. This third-party auditor will tell you right 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.
Next, turn to the letter from the chairman. Typically addressed "to our shareholders," it’s up front in more ways than one. The chairman’s tone reflects the personality and well-being of the company. In his letter, the chairman should tell you how the company fared this year. But more importantly, the letter should tell you why. Keep an eye out for sentences that start with " Except for ..." and " Despite the ... " They are clues to problems. On the positive side, a chairman’s letter should give you insights into the company’s future and its stance on economical or political issues 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. At 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 a-ble 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 sheet, and divide long-term liabilities by owner’s 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 if 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.
According to the article, what makes it clear that a 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
文中最后一句:“In company—watching,comparisons are all.They tell you if managementis staying on top of things.”意为:“在公司监督中,比较十分重要,他们会告诉你,你的管理是否优秀。”选项C符合题意。
转载请注明原文地址:https://kaotiyun.com/show/WAoO777K
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
Theinterview--aboutSminutesInthispartinterlocutorasksquestionstoeachofthecandidatesinturn.Youinthisparthave
1.Inthispart,theinterlocutorasksquestionstoeachofthecandidatesinturn.Youhavetogiveinformationaboutyourself
Theinterview—about3minutesInthisparttheinterlocutorasksquestionstoeachofthecandidatesinturn.Youhavetogivei
Theinterview—about3minutesInthisparttheinterlocutorasksquestionstoeachofthecandidatesinturn.Youhavetogivei
Theinterview--about3minutesInthisparttheinterlocutorasksquestionstoeachofthecandidatesinturn.Youhavetogive
Theinterview—about3minutesInthisparttheinterlocutorasksquestionstoeachofthecandidatesinturn.Youhavetogive
Inthispart,theinterlocutorasksquestionstoeachofthecandidatesinturn.Youhavetogiveinformationaboutyourselfan
Inthispart,theinterlocutorasksquestionstoeachofthecandidatesinturn.Youhavetogiveinformationaboutyourselfan
随机试题
里格斯认为传统农业社会的经济结构是()
是处红衰翠减,苒苒物华休。惟有长江水,无语东流。答案:
食管静脉曲张时,食管吞钡X线检查表现为:食管轮廓呈__________,曲张静脉呈____________。
A.乙酰唑胺B.呋塞米C.氨苯蝶啶D.氢氯噻嗪E.螺内酯可拮抗醛固酮受体的药物是
甲与乙的买卖纠纷经法院调解达成协议,同时经丙同意并在调解协议中约定由丙提供担保,保证乙履行调解协议。在送达调解书时,甲与乙签收后,丙拒绝签收调解书。关于本案,下列哪个选项是不正确的?
常用的个人贷款还款方式是()。
下列各项中,应确认为其他业务收入的是()。
ABC会计师事务所的注册会计师A负责对甲公司20×9年度财务报表进行审计并且于2×10年3月5日签发了已经审计后财务报表的审计报告。但最近的情况是ABC会计师事务所被告上法庭。请代为做出正确的专业判断。ABC会计师事务所已经被告,下列对于诉讼当事人的列
一台整机,修复5次,各次修复时间分别为5h、4h、6h、6.5h、3.5h,则其平均修复时间(MTTR)为()。
教师申诉制度
最新回复
(
0
)