【MAFA23】Financial Analysis and Valuation with Programming-lec1

Dr Pepper

已于 2024-05-02 17:30:06 修改

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分类专栏： MAFA 文章标签：金融

于 2024-04-26 19:25:58 首次发布

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1.Business Ethics in the Digital Age

1.1 Business ethics

implement proper business policies for critical subjects

weapons of math destruction:social impact
data equity issue
correlation is not equal to casuality

1.1.1 weapons of micro destruction微目标毁灭性武器

Micro-targeting: 微目标定位（target their inner demons）
a marketing/political strategy
uses consumer/voter data and demographics
to identify the interests of specific individuals or very small groups of like-minded individuals
and influence their thoughts or actions.

1.1.2.GDPR(the General Data Protection Regulation)

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1.1.3 PIPL

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1.2 AI Risk & Regulations

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2. chapter1 intro

Financial Statement Analysis & Valuation 4-Step Process
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2.2 Identify and discuss the users and suppliers of financial statement information

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2.2.1 Disclosure

Benefits of Disclosure	Costs of Disclosure
cost of capital 高披露，低成本（lower interest rates or higher stock prices)	Preparation and dissemination of financial information准备和传播财务信息的成本
高披露导致低成本的资本 (High disclosure, low cost of capital)	竞争劣势 (Competitive disadvantages)
劳动力市场中的招聘努力Recruiting efforts in labor markets	诉讼潜力 (Litigation potential)
the ability to establish superior Supplier-customer relations in the input and output markets投入和产出市场中建立优越的供应商-客户关系的能力	政治成本 (Political costs)

2.3 Describe and examine the four financial statements.

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Four Types of Activities

▪ Companies
▪ Plan business activities,
▪ Finance those activities,
▪ Invest in those activities,
▪ Then engage in operating activities

balance sheet	financial position at a `point` in time
investing activities/resources	assets(short or long) nearest to cash
financing activities/sources	Owner/Equity(Resources contributed to the company by its owners, Profits retained by the company) && Non-owner (debt)

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income statement	performance over a `period` of time and lists amounts
revenues/sales	close to your operations:what you earn from your core business
expenses	`Cost of goods sold` (COGS, also called cost of sales) `gross profit= Revenues – Cost of goods sold` Selling, general, and administrative expenses `(SG&A)` —the overhead of the company, including Salaries / Marketing costs /Occupancy costs/ HR and IT costs/All the other operating expenses the company incurs.
net income	`revenues - expenses = net income` create barriers to competitive pressure, by patent protection, effective marketing

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Statement of Stockholders’ Equity	year-over-year changes in the equity accounts
Contributed capital实收资本	the stockholders’ net contributions to the company
Retained earnings留存资本	net income - dividends

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Statement of Cash Flows

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2.4. Assess business operations within the context of a competitive environment.

在竞争环境中评估业务运作
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Achieving Competitive Advantage
▪ Product differentiation
▪ - Technological innovation
▪ - Product design
▪ - Marketing, distribution, and after-sale customer support
▪ Cost leader成本领先
▪ - Access to low-cost raw materials or labor低成本原材料或劳动力
▪ - Manufacturing or service efficiency, and
▪ - Manufacturing scale生产规模 efficiencies, greater bargaining power with suppliers,
sophisticated IT systems, etc.