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FinancialStatementAnalysisApril1995v04/30/95v-2.0p05/22/00FinancialStatementAnalysisWarningThisworkbookistheproductof,andcopyrightedby,CitibankNorthAmerica,Inc.ItissolelyfortheinternaluseofCitibank,NorthAmerica,Inc.andmaynotbeusedforanyotherpurpose.Itisunlawfultoreproducethecontentsofthesematerials,inwholeorinpart,byanymethod,printed,electronic,orotherwise;ortodisseminateorsellthesamewithoutthepriorwrittenconsentoftheTrainingandDevelopmentCentersforLatinAmerica,Asia/PacificandCEEMEA.Pleasesignyournameinthespacebelow.TableofContentsv04/30/95v-2.0p05/22/00TABLEOFCONTENTSIntroductionCourseOverview.........................................................................................viiCourseObjectives......................................................................................viiiTheWorkbook...............................................................................................ixUnit1:AccountingIssuesinFinancialAnalysisIntroduction..................................................................................................1-1UnitObjectives............................................................................................1-1BranchesofAccounting..............................................................................1-2ManagerialAccounting....................................................................1-2TaxAccounting................................................................................1-2FinancialAccounting.......................................................................1-3GenerallyAcceptedAccountingPrinciples........................1-3EffectsofInflation................................................................1-4FinancialAccountingBasics...............................................1-5AccountingExercise.......................................................................1-6“GettingBehindtheNumbers”....................................................................1-9ContextualFactors..........................................................................1-9MacroeconomicEffects......................................................1-9SectorAccountingNorms................................................1-10ConsolidatedNumbers.....................................................1-10Seasonality........................................................................1-11Asset/LiabilityValuation...............................................................1-12IntangibleAssets...........................................................................1-13ContingentLiabilities.....................................................................1-15Summary...................................................................................................1-16ProgressCheck1.....................................................................................1-19AdjustingforInflation.....................................................................1-25EffectsofInflationontheBalanceSheet..........................1-25EffectsofInflationontheIncomeStatement....................1-26InflationaryAccounting......................................................1-27v-1.0v04/30/95p05/22/00Unit1:AccountingIssuesinFinancialAnalysis(Continued)ConstantCurrencyAccounting........................................1-28ComprehensiveMonetaryCorrection(MC).....................1-29AdditionalAdjustmentsforInflation...................................1-31ComparativeFinancialStatements..................................1-32TheBrazilianExperience..................................................1-32FinancialAnalysisSpreadsheets..............................................................1-33Summary.......................................................................................1-35ProgressCheck1.2..................................................................................1-37Unit2:BasicConceptsofFinancialAnalysisIntroduction..................................................................................................2-1UnitObjectives............................................................................................2-1Liquidity........................................................................................................2-2DegreeofLiquidity...........................................................................2-2ImportanceofLiquidity....................................................................2-2IncreasingLiquidity..........................................................................2-3LiquidityandBalanceSheetStructure............................................2-3TypesofCapital..........................................................................................2-3WorkingCapital...............................................................................2-3PermanentCapital..........................................................................2-6ThirdPartyandOwnCapital...........................................................2-7