Sources for Financial Statement Information (Optional) 1.2

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会计分析

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University of Pennsylvania

会计分析

1677 個評分

課程 4（共 5 門，Specialization 商业分析）

《会计分析》学习财务报表数据和非财务指标如何能与财务业绩相联系。在这门课中，有了沃顿商学院著名会计学教授的教学，你将会学到如何使用数据来评估驱动财务业绩表现的因素并预测未来财务背景。尽管许多会计和金融组织公布数据，会计分析有效利用这些数据来洞察内情，这堂课会涉及很多领域，在这些不同学习领域会提供数据使你能洞察其他商业领域，包括顾客行为预测、公司策略、风险管理、优化组合等等。学完此部分课程，你将理解财务数据和非财务数据是如何与预测、优化操作以及决定策略等相互影响的。这堂课为了帮助你能更好地做出商务决策，因此你能应用你所学知识来自己做出商务决策并使用财务数据t提出策略。

從本節課中

Ratios and Forecasting

The topic for this week is ratio analysis and forecasting. Since ratio analysis involves financial statement numbers, I’ve included two optional videos that review financial statements and sources of financial data, in case you need a review. We will do a ratio analysis of a single company during the module. First, we’ll examine the company's strategy and business model, and then we'll look at the DuPont analysis. Next, we’ll analyze profitability and turnover ratios followed by an analysis of the liquidity ratios for the company. Once we've put together all the ratios, we can use them to forecast future financial statements. (If you’re interested in learning more, I’ve included another optional video, on valuation). By the end of this week, you’ll be able to do a ratio analysis of a company to identify the sources of its competitive advantage (or red flags of potential trouble), and then use that information to forecast its future financial statements.

Module 1 Overview 1.02:03

Review of Financial Statements (Optional) 1.111:38

Sources for Financial Statement Information (Optional) 1.26:18

與講師見面

Brian J Bushee
The Geoffrey T. Boisi Professor
Accounting
Christopher D. Ittner
EY Professor of Accounting
Accounting

Hello, I'm Professor Brian Bushee.

Welcome back.

In this video, we're gonna do a quick look at different sources where you can get

financial statement information about companies.

This video is optional so if you already know a lot of these sources,

you don't need to watch the video.

But if you're new to this and you want some advice on places that you can get

the kind of financial statement information on companies that we'll use in

this course then this is the video for you.

Let's get started.

The first source to go to find a Company's financial statement data

is it's on website.

On the website, there's usually an investor relations page that will have

all the company's financial statements.

Let me show you.

Let's go to the 3M Company's website.

To find the financial information,

you generally have to go to the bottom of a website.

Cuz for some reason companies are much more interested in trying to convince

you to buy their products,

than they are in having you take a look at their financial statements.

So way down here at the bottom, under About Us,

we have Investor Relations, then there is a link for Financials,

where you can get Quarterly Earnings, Annual Reports, SEC Filings.

Let's look at Annual Reports.

And here is the 24 Annual Report.

We can click on that and then if you go in far enough,

you'll eventually find the financial statements.

Another good place to look is the SEC Edgar website.

The SEC is the US Securities and Exchange Commission.

In here's where they have all the financial filings for US companies and for

any non-US companies that are listed in US markets.

So lemme show what this looks like.

If you Google SEC Edgar, you'll come up with this webpage.

You can type in a company name so we'll do 3m, Search.

Here's 3M company.

Click on that, then you can see all of their filings, the AKs current reports,

quarterly reports.

If you want to find the an report or 10K you can just put that in and search.

Then you can click, click, click on financial statements and,

voila, you get to the 3M company financial statements on the SEC website.

>> Professor, I only follow companies in Hong Kong.

That SEC Edgar website is useless to me.

What do you propose I do?

>> Well, I would suggest that you search for the information on the internet.

So I Googled Hong Kong company finance statements.

I found this website called HKExnews,

where I was able to type in the name of a company on the exchange, so Phoenix TV.

Then I went down and hit Search, and

it brought up a list of all of Phoenix TV's filings and press releases.

So I was able to click on interim report, brought up the interim report.

I was able to page down, scroll down through all of the pages and

eventually get to their financial statements.

Now it would take me a lot of time to do this for all the countries in the world,

cuz last time I looked, there's a couple hundred of them.

So maybe what I'll suggest is that you guys create a discussion forum thread.

Where if you find good sources of financial statements for your country,

you can post it to that thread and share it with the other students.

Another source you could use is one of the Internet finance sites like Morningstar,

or Google Finance, or Yahoo Finance, or Reuters, to give four examples.

>> Dude, do I like have to subscribe to these?

And like which one should I use?

>> You can get most of the information you need on these sites for free.

But as you navigate through them, you may see links to

other useful information that you do have to subscribe to get access to.

And so if you're gonna do a lot of this, maybe you do want to subscribe.

Now I'm not gonna recommend which site to use,

mainly because none of these people are paying me to recommend them.

So if somebody out there wants to sponsor this video and

pay me to recommend their site, maybe I will.

But until then, I'll just give you a list and

you can decide which ones you want to use.

So let's just take a look at Morningstar as an example.

So you can type in the ticker symbol if you know it.

So for 3M it's MMM.

So 3M Company.

Then I can click on Financials.

And it gives me income statement balance sheet cash flow, I can choose Annual or

Quarterly, amount of periods.

And so this is a quick way that I can get financial statement information on

a large number of companies.

And the last source is you could subscribe to the Wharton Research Data Services or

WRDS, let me show you what that looks like.

If you search under WRDS,

you'll hopefully come to our website for Wharton Research Data Services.

The benefit of this data is you can

quickly retrieve financial statement items on thousands and thousands of companies.

The drawback is my understanding, it's incredibly expensive.

So, you probably only want to do this if your institution already has an account.

And you could look to see whether,

if you're with the Board of Governors, US Patent and Trademark, or

various universities or companies, you might already have an account.

If not and this would be useful to you,

you could talk to your company about buying an account.

But, this is something that's really good if you work for an institution and

you need to do heavy-duty data analysis.

But if you're just an individual that's gonna dabble in this stuff,

you probably want to use one of the sources that we looked at earlier.

>> Okay, got it!

When are we going to do something interesting?

>> Okay, okay enough with the optional preliminaries.

In the next video, we'll start doing the more interesting stuff.

But you gotta give me some credit, at least I brought this in under 15 minutes.

It's really hard for me to make a video that's less than 15 minutes.

That wraps up our look at the different sources that you can get financial

statement information.

In the next video,

we will start our analysis of a company using ratio-analysis techniques.

I'll see you then.

>> See you next video!

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