Analysis of Financial Statements
Chhattisgarh Board · Class 12 · Accountancy
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What is the primary purpose of financial statement analysis?
Comparative statements are also known as:
In common size statements, each item is expressed as a percentage of:
Which users of financial analysis are primarily interested in the firm's ability to meet short-term obligations?
Sample Questions
Which of the following are techniques of financial analysis?
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Comparative Statements, Common Size Statements, Trend Analysis, Ratio Analysis, Cash Flow Analysis
The five main techniques of financial analysis are: Comparative Statements, Common Size Statements, Trend Analysis, Ratio Analysis, and Cash Flow Analysis. Balance Sheet Preparation is not an analysis technique but a process of creating financial statements.
The formula for calculating percentage change in comparative statements is:
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(Current Year - Previous Year) / Previous Year × 100
The percentage change is calculated by taking the difference between current and previous year, dividing by the previous year (base year), and multiplying by 100. This shows the percentage increase or decrease from the base year.
Which of the following are limitations of financial analysis?
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Does not consider price level changes, Ignores non-monetary aspects, May be affected by window dressing, Based on historical data
Financial analysis has several limitations: it doesn't consider inflation/price changes, ignores qualitative factors, can be misleading due to window dressing, and is based on historical data. It does not provide 100% accurate predictions.
Common size analysis is particularly useful for:
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Comparing companies of different sizes
Common size analysis is particularly useful for comparing companies of different sizes because it converts all figures to percentages, making it possible to compare the relative importance of different items regardless of company size.
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