4-

2012

Finansy i uchet_Gerasimenko_4-e izd.indd 1

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 657.1
65.052
37

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37

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434 .

ISBN 978-5-9614-2234-4
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657.1
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lib@alpinabook.ru.

ISBN 978-5-9614-2234-4

Finansy i uchet_Gerasimenko_4-e izd.indd 2

.., 2009
, 2012

7/27/2012 3:22:35 PM


.........................................................................................13
. ...................................15

...................................................16
- ....................................................................................................17
, .......................................18
1.

.........................19

.................................................................................................19
() .......................................................................23
..................................................................................................24
..........................................................................................25
.........................................................................26
.............................................................................26
........................................................................27
2.

..............................................29

? ....................................................................................29
................................................................................31
.........................................................................................34
.......................................................40

Finansy i uchet_Gerasimenko_4-e izd.indd 3

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........................................................................................................40
...............................................................42
................................................43
() ............................................................45
.............................................................................48
..................................................51
.....................................................................53
? ..........................................................................................55
: , -................................................59
3.

................................................................................62

...............................................................................62
....................................................................63
Circuit City Stores, Inc. 1990 . .........................66
Circuit City Stores .....................67
1: ..................................................68
2: ..........................................69
3: .............................................69

Circuit City ...................................................................71

......................................................................... 74
............................................................................. 74
.............................................................................75
...........................................................................77
...................................................................78
4.

.....................................80

? ...........................................................................80
..................................................................85
........85

Finansy i uchet_Gerasimenko_4-e izd.indd 4

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.............................88
.....................................................................89
5.

..................................................................................90

..................................................................................90
.....................92
..............................................................96
FIFO LIFO ..............................................................................................98
FIFO .......................................................................................................101
LIFO .......................................................................................................102
(weighted average) ....................................103
..........................................................104

Industrial Distributors ......................................106

? ............................................................107
Industrial Distributors ................................................................107
.........................................................................109
...............................................................................110

Industrial Distributors .............................................111

.............................................................................112
6.

.......................................................117

............................................117
...............................118
......................................................................................120
..............................................................122
........................................................................124
.........................................................124
.........................................................125
......................................................125
..............................................................127

Finansy i uchet_Gerasimenko_4-e izd.indd 5

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.....................................................128

...................................................130
..................................130
..........................................................132
, .........................................................................137
Delta Airlines, Inc. .................................................................................137
Pan Am Corporation ..............................................................................139

Delta PanAm...........................................................141
7.

.............................................145

......................................145
2 ...................................146
WorldCom .........................................................149
.....................................................................149
....................................................................................150
(E/R Ratio) ...................152
..........................................................................153
.....................................................................................154
................................................................................155
........................................................................................156
...................................................................................................157

Worldom ..................................................................158
R&D.....................................................................................160
Microsoft
....................................164
! .............................................................................164
...............................167
Microsoft ..............................................................................168

Microsoft ....................................................................168

Finansy i uchet_Gerasimenko_4-e izd.indd 6

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8.

.................................................................................171

................................................171
..........................................172
.......................................................176
..........................................................................179
.......................................................181

...............................................................................184
........................................................................185
9.

...................188

...........................................................188
? .....................................................................194
...................................................................................198
10.

.............................................207

...............................................................................207
..................................................................................................209
..............................................................................................210
, PV ...212
....................................................................................215
, ......................215
, , ...215

...........................................219
..............................................................................................220
11.

.................................................................223

? ....................................223
..........................................................224

Finansy i uchet_Gerasimenko_4-e izd.indd 7

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............................................................................................224
....................................................................................................224
.........................................................................225
...............................................................................................226

........................................................................................228
, ......................229
, .........................231
,
......................................................................236
....................................................236
Intel ........................................................................238
..................................................................................238
.............................240
12.

.................................................................................242

.................................................242
..........................................................................................243
PPL Corporation ..................................251
.................................................................251
...................................................................251
PPL Corporation ......................................................................253
..............................................................................254
..........................................255
................................................................................257
.......................................................................258

PPL Corporation ........................................................260

13.

.......................................264

..........................................................................264
.......................266

Finansy i uchet_Gerasimenko_4-e izd.indd 8

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....................267
............................272
...............................................................273
1: .................................276
2: ...........................................................278
3: ......................................279
4: , ..280
5: .......................................284
...........................................................................................285

......................................................................................289
14.

..............................................290

....................................................................................290
- ..............................................................................294
? ............................................296
...............299
............................................303
................................................................306
15.

....................................308

(contingent liabilities) .............................308

...............................................................................................313
...............................314

................................................................315
...............................................316

(special purpose entities, SPE) .....................................................317
Enron Corporation ...................................................318

Finansy i uchet_Gerasimenko_4-e izd.indd 9

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10

..................................................................................319
....................................319
.............................................................320
..............................................................................320
...................................................................................323
? ......................................................................................324
JEDI ...........................................................................325
, - ...............327
- .........................................................................................330
................................................................331
....................................................................................................332

Enron ..........................................................................333
............................................................................337
.....................................................................................................337
(Sarbanes-Oxley Act) ...............................338
16.

..................................341

....................................................................................341
Procter & Gamble ............................342
...............................................................343
Procter & Gamble ....................................................................343
............................................................................344
Organization 2005 .................................................................................345
Organization 2005 ................................346
P&G .......................347
? ........................................................................348

Procter & Gamble ......................................................348

................352
2009 ...........................353

Finansy i uchet_Gerasimenko_4-e izd.indd 10

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11

17.

..........................................................355

...................................................................................355
.........................................................................356
...........................................................................................356
.......................................................................................357
..................................................................................................358

..................358
............................................................................360
.................................................................................361
...................................................................................................362
..............................................................................362
18.

, ......................366

.......................................................................366
? ................................................................................370
?........................................373
................................................................375
...............................................................................376

............................................................379
....................................................379
.......................................................................383
Uniphase Corporation: JDS FITEL ................................387
? .................................................................................387
Uniphase .................................................................................388
JDS FITEL ..............................................................................................389
...................................................................................391

Uniphase ....................................................................392

Finansy i uchet_Gerasimenko_4-e izd.indd 11

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12

19.

.......398

..........................................................................398
............................................................................400
...............................................................404
....................................................408
20.

.....................................................410

? ...........................................................................410
.............................................................415
.....................................................................................416
......419
........................................................................................425
......................................427
(Multiples) ..............................................................430

............................................................431
.............................................................................................433

Finansy i uchet_Gerasimenko_4-e izd.indd 12

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Finansy i uchet_Gerasimenko_4-e izd.indd 13

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Finansy i uchet_Gerasimenko_4-e izd.indd 14

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Finansy i uchet_Gerasimenko_4-e izd.indd 15

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16

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Finansy i uchet_Gerasimenko_4-e izd.indd 16

7/27/2012 3:22:36 PM

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Finansy i uchet_Gerasimenko_4-e izd.indd 17

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KPMG, Deloitte, PricewaterhouseCoopers, Ernst & Young, McKinsey &

Co, BCG, Bain, Accenture, Bearing Point, Deloitte Consulting, IBM, Fitch,
Standard & Poors, Moody's, Millhouse, , , Intel
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, , Oracle

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Finansy i uchet_Gerasimenko_4-e izd.indd 18

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Finansy i uchet_Gerasimenko_4-e izd.indd 19

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20

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Finansy i uchet_Gerasimenko_4-e izd.indd 20

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Finansy i uchet_Gerasimenko_4-e izd.indd 21

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22

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Finansy i uchet_Gerasimenko_4-e izd.indd 22

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Finansy i uchet_Gerasimenko_4-e izd.indd 23

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24

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Finansy i uchet_Gerasimenko_4-e izd.indd 24

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Finansy i uchet_Gerasimenko_4-e izd.indd 25

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26

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Finansy i uchet_Gerasimenko_4-e izd.indd 26

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Finansy i uchet_Gerasimenko_4-e izd.indd 27

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28

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Credit Suisse;
UBS.

Finansy i uchet_Gerasimenko_4-e izd.indd 28

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Finansy i uchet_Gerasimenko_4-e izd.indd 29

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30

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Finansy i uchet_Gerasimenko_4-e izd.indd 30

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