Financial statements analysis of shipping firms
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Keywords
Financial statements ; Balance sheet ; Income statement ; Statement of changes in equity ; Cash flow statement ; Profitability ratios ; Liquidity ratios ; Solvency – leverage ratios ; Efficiency ratios ; Market value ratios ; Cash flow ratiosAbstract
The purpose of this thesis is to present and analyze the financial statements of companies, with a particular focus on listed shipping firms. The Balance Sheet, Income Statement, Statement of Changes in Equity, and Cash Flow Statement will be examined in detail.
Additionally, the thesis presents the various types of charters, single-voyage, a time-charter, or mixed arrangements, as well as the key differences in the presentation of financial statements under International Financial Reporting Standards (IFRS) compared to U.S. Generally Accepted Accounting Principles (US GAAP).
Finally, the study introduces financial ratios and their categories, including Profitability, Liquidity, Solvency/Leverage, Activity, Market Value, and Cash Flow ratios, and includes an analysis calculating the most important ratios for ten listed shipping companies over a ten-year period.