Analysis of Financial Statements
Haryana Board · Class 12 · Accountancy
Flashcards for Analysis of Financial Statements — Haryana Board Class 12 Accountancy. Quick Q&A cards covering key concepts, definitions, and formulas.
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Get startedWhat is Financial Statement Analysis?
Answer
Financial Statement Analysis is the process of critical evaluation of financial information contained in financial statements to understand and make decisions regarding the operations of a firm. It in…
Distinguish between 'Analysis' and 'Interpretation' in financial analysis.
Answer
Analysis means simplification of financial data by methodical classification given in financial statements. Interpretation means explaining the meaning and significance of the data. These are compleme…
List any four objectives of financial statement analysis.
Answer
1. To assess current profitability and operational efficiency 2. To ascertain relative importance of different components of financial position 3. To identify reasons for changes in profitability/fina…
How is financial analysis useful to a Finance Manager?
Answer
Financial analysis helps finance managers by: focusing on managerial performance and corporate efficiency, determining financial strengths and weaknesses, assessing creditworthiness, studying accounti…
What aspects of financial analysis are trade payables most interested in?
Answer
Trade payables are particularly interested in the firm's ability to meet short-term obligations and its liquidity position. They evaluate the company's ability to meet their claims over a very short p…
Name the five commonly used techniques of financial analysis.
Answer
1. Comparative Statements 2. Common Size Statements 3. Trend Analysis 4. Ratio Analysis 5. Cash Flow Analysis…
What are Comparative Statements? What is their other name?
Answer
Comparative Statements show the profitability and financial position of a firm for different periods in a comparative form to give an idea about the position of two or more periods. They apply to Bala…
What are the steps to prepare Comparative Statements?
Answer
Step 1: List absolute figures in rupees for two points of time Step 2: Find change in absolute figures by subtracting first year from second year, indicate as increase (+) or decrease (-) Step 3: Calc…
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