kmviFI

GaCIvkm
Qanmu
x

karEsVgyl;
GMBIr)aykarN_
hirBavt
CYydl;dMeNIrkareF
VIesckIsMerccitr

Business Edge 2003. All rights reserved

sikSaedIm,IPaBeCaK

karEsVgyl;
kmviFIG
aCIvkm
GMBIr)aykarN_hir
Qanmux
lTplEdlrMBwgTuk
erobrab;GMBImuxgarKNeny
Bavt

Bnl;GMBIFatunr)aykarN_hirBavt

GnuvtkarviPaKeKalkarN_
nsanPaBhirBavt

eRbIR)as;BtmanKNenysMrab;eFVI
esckIsMerccit
sikSaedIm,IPaBeCaK
2

karEsVgyl;
GMBIr)aykarN_hir
matika
Bavt
muxgarKNeny

kmviFIG
aCIvkm
Qanmux

Fatunr)aykarN_hirBavt
viPaKeKalkarN_
nsanPaBhirBavt
krNIsikSa/dMeNaHRsaybBaa

sikSaedIm,IPaBeCaK
3

m:UDul 1

kmviFI
GaCIvkm
Qanmu
x

muxgarKNen
y
Business Edge 2003. All rights reserved

sikSaedIm,IPaBeCaK

Rbtibtikar
Rbtib
tika
r
GaCIv
km

kmviFIG
aCIvkm
Qanmux

karsMerccit
karvi
hirBa

nieya
K

vt

sikSaedIm,IPaBeCaK
5

BtmanKNeny
kmviFIG
aCIvkm
enAkg
Qanmux
karsMerc
kareFVIesckIsMerc
citeFVIG
cit
karsMerc
aCIvkm
citeFVIv
inieyaK
karsMerc
citEpk\
sikSaedIm,IPaBeCaK
6

Btmanpl;eda kmviFIG
aCIvkm
yEpkKNeny
RTBskm R)ak;cMeNj
Qanmux

R)ak;cMeNj
edImTun

RTBskm &
edImTun

&

&

bMNul

Btman

TwkR)ak;
cUl, ecj?

&

RTBskm

bMNul &
edImTun

KNnIRtUvsg
KNnIRtUvTTYl?

sikSaedIm,IPaBeCaK
7

muxgarKNeny
kt;Rta
dMeNI
rkar
R)aRs
yTak
;Tg

kmviFIG
aCIvkm
Qanmux

ksar nig
esovePAK
Neny
KNeny

r)aykarN_
hirBavt

sikSaedIm,IPaBeCaK
8

cMNat;fak;BtmkmviFIG
aCIvkm
anKNeny
Qanmux

KNenyRKb;R

KNenyhirBavt

sikSaedIm,IPaBeCaK
9

m:UDul 2

kmviFI
GaCIvkm
Qanmu
x

FatuTaMgLay
nr)aykarN_

Business Edge 2003. All rights reserved

sikSaedIm,IPaBeCaK

r)aykarN_hirBavtkmviFIG
aCIvkm

Qanmux
r)aykarN

taragtulkar
_hirBav
? ? ? ?
r)aykarN_R)ak;cMNUl
t
r)aykarN_
nlMhUrsac;R)ak;
kMNt;sMKal;cMeBaHr
)aykarN_hirBavt

sikSaedIm,IPaBeCaK
11

taragtulkar

kmviFIG
aCIvkm
qHbBaaMgnUvral;TidPaB nRTBskmEdlmanRsab;
Qanmux

enAkgRkumhun nig FnFanCasac;R)ak;rbs;Rkumhun

enAkgdMNak;kalCak;lak; NamYyneBlevla.

RTBskm
RTBskm == bMNul
bMNul ++
Tunrbs;mas;
Tunrbs;mas;

sikSaedIm,IPaBeCaK
12

]TahrN_
kmviFIG
aCIvkm
taragtulkar
suPaB ebIkhaghVtUkUBImYy Qanmux
enAfTI 1 Ex kkda qaM 2005.
RTBskm nhagenH rYmman
m:asuInhVtUkUBIfImYy mantMl 2
RTBskm
=
+
RTBskm
= bMNul
bMNul
+ 500
500
dulaGaemrik
nig
sac;R)ak;
dulaGaemrik.
edIm,I
Tunrbs;mas;
Tunrbs;mas;
TTYl)anRTBskmTaMgGs;enH
suPaB
??
??
??
RtUvxI 2 000 dulaGaemrik
BIRkumRKYsarrbs;Kat; nig

sikSaedIm,IPaBeCaK
13

]TahrN_
kmviFIG
taragtulkar
suPaB
ebIkhaghVtUkUBImYy aCIvkm
Qanmux

enAfTI 1 Ex kkda qaM 2005.

RTBskmrbs;hagenH rYmman
m:asuInhVtUkUBIfImYy mantMl 2
500 dulaGaemrik nig sac;R)ak; 500
dulaGaemrik. edIm,I
TTYl)anRTBskmTaMgGs;enH suPaB
RtUvxI 2 000 dulaGaemrik
BIRkumRKYsarrbs;Kat; nig

sikSaedIm,IPaBeCaK
14

RTBskm

kmviFIG
aCIvkm
Qanmux

RTBskm
RTBskm KWCaFnFan
KWCaFnFan
EdlRtUv)anRKb;RKgeda
EdlRtUv)anRKb;RKgeda
yRkumhun
yRkumhun
EdlGacbegItecjCaGtR
EdlGacbegItecjCaGtR
beyaCn_
lkxN
beyaCn_ naeBlGnaKt.
naeBlGnaKt.
fedImBI
edImTI

1manGtRbeyaCn
_xagesdkic
sikSaedIm,IPaBeCaK
15

RTBskm
RTBskm
RTBskm
RTBskm
RTBskm
ryeBlxI
ryeBlxI

kmviFIG
aCIvkm
Qanmux

RTBskm
RTBskm
ryeBlE
ryeBlE
vg
vg

sikSaedIm,IPaBeCaK
16

RTBskmryeBlx
kmviFIG
aCIvkm
I
sac;R)ak;mankgek
s
karvinieyaKryeBlxI
KNnIIRtUvTTYl
KNnI\NTy
sniFi sk
RTBskmryeBlxId
TeTot

Qanmux

sikSaedIm,IPaBeCaK
17

RTBskmryeBlE
kmviFIG
aCIvkm
vg
GclnRTB
karvinieyaKeTAelIGclnRTB
karvinieyaKelIhirBavtry
eBlEvg
RTBskmryeBlEvgdTeTo
t

Qanmux

sikSaedIm,IPaBeCaK
18

bMNul

kmviFIG
aCIvkm
Qanmux

bMNulKWCa
bMNulKWCa
karCMBak;naeBlbcb,
karCMBak;naeBlbcb,
n
n
EdlekItecjBIskmPaBGa
EdlekItecjBIskmPaBGa
lkxN
CIvkm
CIvkm kalBIGtItkal
kalBIGtItkal
1- lHbg;kgkarxI
EdlRtUv)anpl;
EdlRtUv)anpl;
[BIRbPBepSg.
[BIRbPBepSg.

edayTTYl)anGtRbe

sikSaedIm,IPaBeCaK
19

bMNul
bMNul
bMNul
bMNulrye
bMNulrye
BlxI
BlxI

kmviFIG
aCIvkm
Qanmux

bMNulrye
bMNulrye
BlEvg
BlEvg

sikSaedIm,IPaBeCaK
20

bMNulryeBlxI

kmviFIG
aCIvkm
Qanmux

kmIryeBlxI
cMENkRtUvsgbcb,n
nkmIryeBlEvg
KNnIRtUvsg KNnI\NTan BaNiC
km
\NTanBn
\NTan cMeBaHnieyaCit
\NTanepSgeTot

sikSaedIm,IPaBeCaK
21

bMNulryeBlEvg
kmIryeBlEvg
bMNulryeBlEvge
pSgeTot

kmviFIG
aCIvkm
Qanmux

sikSaedIm,IPaBeCaK
22

Tunrbs;mas;

kmviFIG
aCIvkm
Qanmux

Tunrbs;mas;
Tunrbs;mas; KWCa
KWCa
siTiTamTaredaymas;cMe
siTiTamTaredaymas;cMe
BaHRTBskmrbs;Rkumhun
BaHRTBskmrbs;Rkumhun
mUlFnEdl)ancUlrYm

cMeNjkat;Tuk
=
RTBskm
bMNul
= RTBskm
bMNul
cMeNjxusKa / xat

PaBxusKa)anmkBIkarvaytM
leLIgvijnRTBskm
PaBERbRbYlnGRtabrR)ak;

sikSaedIm,IPaBeCaK
23

r)aykarN_R)ak;cM
kmviFIG
aCIvkm
NUl
bgajBIcMNUl cMNay nig R)ak;cMeNjsuTsaF
Qanmux/

karxat
bg;rbs;RkumhunenAkgGMLgeBlCak;lak;
NamYy.

cMeNj // xat ==
cMNUl cMNay

sikSaedIm,IPaBeCaK
24

R)ak;cMNUl

kmviFIG
aCIvkm
Qanmux

R)ak;cMNUl
R)ak;cMNUl
KWCaR)ak;RbmUl)ansrubBIG
KWCaR)ak;RbmUl)ansrubBIG
aCIvkm

karkat;ecj
aCIvkm
karbBaHfBaNiCkm
EdlbegInTunrbs;mas;
EdlbegInTunrbs;mas;
karbBaHflk;
edayminrYmbBalnUvmUl
edayminrYmbBalnUvmUl
bgVilRtLb;vijnUvTMnijEdl)anlk
;
Fnrbs;mas;eT.
Fnrbs;mas;eT.

GakrBiesselIkareRbIR)as;
BnnaMcUl nig BnnaMecj
cMNUlBIkarlk;suTsaF =
cMNUldul karkat;ecj
sikSaedIm,IPaBeCaK
25

cMNay

kmviFIG
aCIvkm
cMNayKWCacMnYnTwkR)a
cMNayKWCacMnYnTwkR)a
Qanmux

k;
k; Edl)andkecjBIR)ak;cMeNj
Edl)andkecjBIR)ak;cMeNj
Edlbny
Tunrbs;mas;
Edlbny
Tunrbs;mas;
fedImTMnijEdl)anlk;
edayminrYmbBalnUvka
edayminrYmbBalnUvka
fedImRbtibtikar
rEbgEckmUlFnnanaeT.
rEbgEckmUlFnnanaeT.

cMNayelIkarlk;
cMNayTUeTA nig
cMNayrd)al
sikSaedIm,IPaBeCaK
26

cMNUl

kmviFIG
aCIvkm
cMNUl)anmkBIskmPaBGaCIvkm
Qanmux

R)ak;cMeNjdul = cMNUlBIkarlk;suTsaF
fedImTMnijEdl)anlk;
R)ak;cMeNjsuTsaF = R)ak;cMeNjdul
cMNayRbtibtikar
cMNUl)anmkBIskmPaBhirBavt
= cMNUl)anmkBIskmPaBhirBavt
cMNaynskmPaBhirBavt

cMNUldTeTot
=

cMNUlepSg cMNayepSg

cMeNjmunbg;Bn

BnelIR)ak;cMNUlrbs;Rkumhun

cMeNjbnab;BIbg;Bn
sikSaedIm,IPaBeCaK
27

r)aykarN_lMhUrsa
kmviFIG
aCIvkm
c;R)ak;
RbmUlRKb;BtmanTaMgGs;
EdlBak;BneTAnwglMhUr n
sac;R)ak;cUl nig ecj
enAGMLgeBlCak;lak;NamYy.

Qanmux

lMhUrsac;R)ak;suTs
lMhUrsac;R)ak;suTs
aF
aF ==
lMhUrsac;R)ak;cUlsru
lMhUrsac;R)ak;cUlsru
b
b
lMhUrsac;R)ak;ecjsru
lMhUrsac;R)ak;ecjsru

sikSaedIm,IPaBeCaK
28

lMhUrsac;R)ak;

kmviFIG
lMhUrsac;R)ak; BIskmPaBRbtibtikar
aCIvkm
lMhUrsac;R)ak;cUl)anmkBIcMNUl
Qanmux
(lMhUrsac;R)ak;ecj)anmkBIcMNay )
lMhUrsac;R)ak; )anmkBIskmPaBvinieyaK
lMhUrsac;R)ak;cUl)anmkBIkarvinieyaK / cMNUl
(karvinieyaK)
lMhUrsac;R)ak;cUl )anmkBIkarlk;GclnRTB
(lMhUrsac;R)ak;ecj sMrab;karTijGclnRTB )
lMhUrsac;R)ak; )
anmkBIskmPaBhirBavt
karpl;kmICasac;R)ak; (kmICasac;R)ak;)
karcUlrYmCasac;R)ak;
(bgVilRtLb;vijnTunrbs;mas;Casac;R)ak; )

sikSaedIm,IPaBeCaK
29

kMNt;sMKal;
kmviFIG
cMeBaHr)aykarN_hir
PaBcaM)ac; sMrab;karvas;Evg nig aCIvkm
Qanmux
eKalneya)ayKNeny
Bavt
BtmanbEnm
GMBIFatuTaMgLaynr)aykarN_hirBavt

BtmandTeTot rYmman
bMNulrMBwgfanwgsg
kareKarBtamkicsna
nigBtmanhirBavt dTeTot
BtmanminEmnhirBavt

sikSaedIm,IPaBeCaK
30

kmviFI
GaCIvkm
Qanmu
x

m:UDul 3

karviPaKeKalk
arN_RKwH
nr)aykarN_hir
sikSaedIm,IPaBeCaK

Business Edge 2003. All rights reserved

beckeTsviPaK
viFIsaseRbobeFob

kmviFIG
aCIvkm
Qanmux

karviPaKtamryExSbeNay
PaBxusKa KitCatMl nig
KitCacMnYnPaKry
karviPaKtamryExSQr
karbMElgRbePTRbtibtikarnana (items)
[eTACacMnYnPaKry n
RbePTRbtibtikarCamUldanmYy (Base
Item)

kareRbIR)as;pleFobhirBavt

sikSaedIm,IPaBeCaK
32

kareRCIserIslkNv
kmviFIG
aCIvkm
inicy
TinnykalBIeBlmun

vaytM;lninakarvivDn_
nFatuTaMgLay

Qanmux

TinnyTak;TgnwgEpnkar

eRbobeFoblkxNBitR)akd
CamYynwgEpnkar

TinnymFmTak;Tgnwg]sSah
km

vaytMlsanPaBrbs;Rkumhun nig
lTPaBenAkgvisy]sSahkm

sikSaedIm,IPaBeCaK
33

segb
viPaKva:
rIy:g;
(Variance)
(tamryExS

viPaKTak
beNay)
;Tgnwgni
nakar

kmviFIG
aCIvkm
Qanmux

RTBsk
m

rcnasm<
nFnFa
Tak;Tgn
n
wgsars
Mxan;

sikSaedIm,IPaBeCaK
34

segb kmviFIG
viPaKtamryExSbeNaCIvkm
Qanmux
ay

sikSaedIm,IPaBeCaK
35

segb viPaKtamryExSQr
Rkumhun
BBC

lTplGaCIvkm

kmviFIG
aCIvkm
Qanmux

sikSaedIm,IPaBeCaK
36

segbpleFobhirBav
kmviFIG
t
aCIvkm
cMNUlelIkarvinieyaK
Qanmux
sMrab;eFVIkarviPaK
cMNUlelIRTBskm
(ROI)

(ROA)

R)ak;cMeNjsuTsaF /
RTBskmsrubKitCamFm
=

cMNUlelIedImTun (ROE)

R)ak;cMeNjsuTsaF / Tunrbs;mas;
KitCamFm
=

rcnasm<nhirBavt

pleFobbMNul / edImTun = bMNul

Tunrbs;mas;

sikSaedIm,IPaBeCaK
37

viPaKpleFobhirBa
vt
pleFobR)ak;cMeNj

kmviFIG
aCIvkm
Qanmux

kMritR)ak;cMeNjdul

(Gross

Margin)

R)ak;cMeNjdul / R)ak;cMNUl

kMritR)ak;cMeNj
R)ak;cMeNjsuTsaF
R)ak;cMNUl
=

(Profit Margin)

sikSaedIm,IPaBeCaK
38

viPaKpleFobhirBa
kmviFIG
pleFobgayTUTat; snnIyPaB
aCIvkm
vt
Qanmux
mUlFnRbtibtikar = RTBskmryeBlxI

bMNulryeBlxI
*

viPaKryeBlxI

(Short-term analysis):

pleFobryeBlxI
= RTBskmryeBlxI / bMNulryeBlxI (2:1)
pleFobbgVil)anrhs
= sac;R)ak; nig smmUlCasac;R)ak; /
bMNulryeBlxI (1:1)
*

viPaKryeBlEvg (Long-term analysis):

Tunrbs;mas; + bMNulryeBlEvg >

RTBskmryeBlEvg

sikSaedIm,IPaBeCaK
39

viPaKxYbGaCIvkm
kmviFIG
aCIvkm

KNnI
RtUv
TTYl

ij
rT
ka

Rb
nI m 3.
Rt U
U lK
vT N
l
TY

1.

sac;R)ak;;

Qanmux

sniFi

2.

karlk;Ca\NT
an karlk;

sikSaedIm,IPaBeCaK
40

viPaKxYbGaCIvkm
kmviFIG
aCIvkm

xYbGaCIvkm
xUbnKNnIRtUvTTYl
= plrbrsuTsaF / tulPaBmFm
nKNnIRtUvTTYl
karlk;RbcaMfKitCamFm
EdlminGacRtYtBinit)an= 365 /
plrbrEdlRtUvTTYl

Qanmux

xYbsniFi = fedImTMnij)anlk;
sniFiCamFm

sniFiRbcaMfKitCamFmEdlkMBugman
= 365 / plrbrsniFi

sikSaedIm,IPaBeCaK
41

kMritnkarviPaK

kmviFIG
aCIvkm
Qanmux

beckeT
sviPaK
Tinny
KNeny

sikSaedIm,IPaBeCaK
42

GasydanTMna
kmviFIG
aCIvkm
k;TMng
GaCIvkmQanmux

Qanmux

kmviFIGPivDn_visyk
CntMbn;emKg
GaKarelx 70
mhavifIneratm PMeBj
TUrsBelx 023-210 992

sikSaedIm,IPaBeCaK
43

ksareyag

kmviFIG
aCIvkm
Qanmux

1. Bazley, Mike, 2004, Contemporary

Accounting, 5th ed, Thomson.
2. Meigs, 2002, Financial Accounting, 11th
ed, McGraw-Hill.
3. White, Gerald I., 2003, The analysis
and use of Financial statements, 3rd ed,
Wiley.
4. Woelfel, Charles J., 2001, Financial
Statement Analysis, Revised Edition,
Probus.

sikSaedIm,IPaBeCaK
44