Die Geldvermehrung im Weltkriege und die Beseitigung ihrer Folgen

The stock market crash - and after

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Monograph

Identifikator:: 1025475909

URN:: urn:nbn:de:zbw-retromon-42255

Document type:: Monograph

Author:: Liefmann, Robert http://d-nb.info/gnd/118779931

Title:: Die Geldvermehrung im Weltkriege und die Beseitigung ihrer Folgen

Place of publication:: Stuttgartt

Publisher:: Deutsche Verlags-Anstalt

Year of publication:: 1918

Scope:: 1 Online-Ressource (199 Seiten)

Digitisation:: 2018

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Fünftes Kapitel. Die Inflation und ihre Wirkungen

Collection:: Economics Books

REVENUE 1 THE TOTAL ASSETS RATIO The term “productivity” is used in the above title to indicate capacity to produce revenue by the sale of service. For the present purposes security investments and income from securities have been eliminated from the financial statements in the process of standardizing the classification so that the figures used show operating results only. Two ratios are selected as particularly fitted to picture this revenue producing capacity. The first one is the ratio of Gross Revenue to Total Assets and expresses the number of cents of annual gross revenue per dollar of total assets invested at the end of the year. It shows the financial productiveness of the service producing (i. e., op- erating assets) investment. The ratio may be stated in cents per dollar as, $.164 per $1, or may be cast into the form of a percentage by moving the decimal point as, 16.4 (i. e., 16% cents per dollar). The latter form 1s the one generally used throughout the bulletin. A relatively large ratio, such as .18 or .20 for example would indicate that a highly efficient use of the assets was producing a large return for each dollar invested. Conversely a low ratio like .02 or .06 would indicate over-investment in plan or inefficient operating conditions. The second of the two ratios to be analyzed is the ratio of Gross Revenue to Net Worth which will be examined in Part II of this bulle- tin. Tables for a third ratio, Gross Revenue to Fixed Assets are included in the Appendix for reference, but are not discussed in the text because these ratios are so nearly like the ratios of revenue to total assets. In general, the procedure will be to analyze the two ratios sepa- rately, supporting the analysis by suitable tables in an appendix and by bar-charts accompanying the text. The tables are constructed to show “frequency distributions,” that is to say, to show the way the hundreds of ratios fall into groups. In the charts each vertical bar represents a ratio-group, as for example, the ratios which fall between .12 and .16; the length of the bars gives a relative measure of the number of cases which fall in each group. In order to secure greater ease in making quantitative comparisons, the number of cases in each ratio- University of Illinois, Bureau of Business Research Bulletin No. 9—The Current Ratio in Public Utility Companies contains further notes in regard to the standardiza- tion of financial statements preliminary to statistical analysis. {5.9

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