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07-16-2011, 09:17 PM

godaaaaaaaak watinawa machoooo mamath tama mekata alut,,,,,,,,
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07-16-2011, 09:19 PM

Daily Mirror-
If an investor wishes to buy or sell shares through the Stock Exchange, the first thing that he/she should do is to open a Securities Account in the Central Depository System.

Central Depository System
The Central Depository System (Pvt) Ltd. (CDS) is a depository for all securities traded on the Colombo Stock Exchange (CSE). It also handles the post trade clearing and settlement of the secondary market transactions on the CSE. The CDS was incorporated in 1991 and it is a fully owned subsidiary of the CSE. The CDS is registered as a Clearing House by the Securities and Exchange Commission of Sri Lanka (SEC). This registration is renewed annually.

The CDS functions as a depository to hold securities in trust on behalf of shareholders of companies and provides depository, clearing and settlement services for equities (shares, preference shares, warrants) and fixed income securities (Corporate and Government Debt) . Securities are held by the CDS in a dematerialised (electronic) form. The Securities and Exchange Commission of Sri Lanka has made it mandatory to convert any physically held share certificates to electronic form by 31 December 2011.

The CDS opens and maintains CDS accounts on behalf of account holders through 43 participant organizations of the CDS. The CDS has granted participant status to 27 Stock Brokers of the CSE and 16 Commercial Banks (Custodian Banks). The participant organizations have access to all CDS services. Account holders are required to use the services of participants to access the CDS services and it is possible to use more than one participant.

Opening and maintenance CDS Accounts
If an investor wishes to buy or sell shares through the Colombo Stock Exchange he/she should open a Securities Account in the CDS through a Participant organisation (a stockbroker or a custodian bank). The applicant has to submit the duly completed Client Account Opening Forms together with the relevant supporting documents to the Participant. After scrutinizing the account opening documents inclusive of the supporting documents the CDS will register the applicant in the CDS system.

Once the registration process is completed the CDS system will generate an acknowledgement slip with the Client Account Number and this acknowledgment would be handed over to the Participant confirming the CDS account opening. Client account number will be the national Identity card number/ passport number of the client along with the broker code.

Registration of ownership
Registration of ownership in the CDS is automatic on conclusion of a transaction of shares in a company listed on the CSE. The quantity of shares purchased is instantly credited to the CDS account of the purchaser. The Companies Act has provided for the person who purchases shares in a listed company to be deemed a shareholder in that company.

Documents required to open CDS account

Residents with normal identification

1. A clear photo copy of the National Identity Card (NIC).
If the NIC is not available a copy of a valid Passport as at the date of the Account being opened at the CDS.
An account holder can open CDS accounts with more than one participant
In the event an existing CDS account holder registered under a NIC has lost/misplaced the NIC and is unable to submit a copy through the new participant, the CDS will accept a copy of a valid passport which bears the NIC number. This should be submitted together with a sworn affidavit stating the fact that the NIC is not available.
In the event, both the NIC and Passport are not available, a copy of the Driving License should be submitted, together with an Affidavit confirming the fact that both NIC and Passport are not available.
2. Proof of residency document Such as an electricity bill, telephone bill etc

Non-resident Sri Lankans
In the event a resident Sri Lankan becomes a non resident that person would have to open a new (Foreign) account. In such an instance the following documents relating to opening a foreign Client account needs to be submitted.

A copy of the Sri Lankan valid Passport.

Proof of residency document as per the Rules issued by the Financial Intelligence Unit of Sri Lanka
SIA (Securities Investment Account) account details with documentary proof.Apart from this there are some other CDS forms that the investor has to fill.

The CDS offers the facility of changing client account information.

CDS statements
CDS will forward to the account holder a statement if such account was active during a particular month (monthly statement) and will forward to the account holder a quarterly statement if such account was active during the preceding three months (quarterly statement). An active account is an account with at least one transaction (purchase/sale/deposit/withdrawal/transfer) during the period/s referred to above.
CDS will forward a statement annually as at 31st March to inactive account holders (accounts with no transactions for a period of 12 months) having credit balances.

Where an account holder wishes to change any particulars in the account, the account holder shall submit a letter indicating the desired changes together with any supporting document (relevant to the particular change) to the participant. The Participant shall verify the accuracy of information provided by the client and authenticate the signature before submitting the documents to the CDS. The CDS shall effect changes after verifying the documents submitted.

Locked account
The CDS also provides a service whereby shareholders of securities who do not wish to trade their securities, to "lock" their securities in a separate locked balance in their own CDS accounts. Once securities are "locked" in this manner such securities would not be visible to the CDS Participants (Stock Brokers and Custodian banks) thereby maintaining the confidentiality of the information and also safeguarding the account holder/shareholder from any possible unauthorized transaction by a Stock Broker. Trading on locked balances would be suspended.

Securities could be unlocked from a locked balance and transferred to the trading balance of the CDS account holder only with the written authority given by the CDS account holder to the CDS through the relevant Participant.( (Stock Broker and Custodian bank)

Dematerialization Service (Deposit of securities)
Dematerialization is the process by which the physical certificates of a shareholder of a listed company are converted to an electronic form.

A shareholder could only sell securities that are held electronically through a securities account in the CDS. The process of dematerialization requires the CDS account holder to submit the physical certificate and duly signed transfer form to CDS through the relevant CDS participant. The CDS will deposit the quantity of securities to the relevant securities account the same day.

Rematerialisation Service (Withdrawal of securities)
Rematerialisation is the process by which the electronic securities balances of a shareholder of a listed company get converted back to certificate form.

A CDS account holder could obtain a securities certificate for purposes of pledging. The Account holder is required forward the relevant duly signed transfer form to CDS through the relevant CDS Participant. The CDS will withdraw the shares from the relevant securities client account and forward the relevant documents to the respective company secretary. The company secretary is required to submit the relevant securities certificate to CDS before expiry of seven (07) market days of lodging a valid transfer with them. The CDS Participant is then required to collect the securities certificate from CDS and forward the certificate to the account holder.

Transfer service
A CDS account holder has the facility of transferring the securities between securities accounts opened through different CDS Participants. Gifts are possible between immediate family members and have to be approved by the Securities and Exchange Commission of Sri Lanka. Such transfers attract a stamp duty. A CDS account holder who wishes to transfer securities must forward the relevant transfer documents through the relevant CDS Participant.

Corporate Action Service
The CDS facilitates the distribution of corporate actions by providing the entitlement schedules to the Company Secretary or Registrar enabling the Company Secretary or Registrar to identify the shareholders who are entitled to the corporate action. Distribution of dividends is handled by the Company Secretary or Registrar. In the case of Stock Splits or Rights issues, the new shares will be directly uploaded to the respective account holders’ securities accounts in the CDS.

Transmissions
The transmission of shares to the heirs of a deceased shareholder is done by forwarding the necessary documents such as the probate or letters of administration to the CDS through the CDS Participant and registering the same with the relevant company secretary. Stamp Duty is payable to the Department of Inland Revenue for such transmission of shares.

Nominations
A facility is available whereby account holders could nominate another person/s to receive shares in the event of a death of the account holder. This has been provided for by law through an amendment to the civil procedure code. The transmission of securities where a nomination has been made eliminates the need for legal documentation such as a probate or letters of administration and expedites the process of transfer of shares to the named beneficiaries.

Settlement
Equities are settled on a trade by trade basis followed by funds settlement 3 days later (T+3). Stock is transferred on trade date and cash transfers are on T+3. Settlement cycles are flexible for Government securities and Corporate debt securities at the discretion of the parties entering into the trade. Cash settlement is through one of the four commercial banks appointed by the CDS to act as settlement banks.

Instructions to CDS
All Instructions to the CDS have to be forwarded to the CDS through the relevant participant. All instructions to the CDS should be in the relevant CDS form except in the case of address changes where a letter signed by the account holder should be furnished with a proof of residency document.
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07-16-2011, 09:24 PM

කොටස් වෙළඳපළ තුළ ජීවත් වන සතුන් සිව් දෙනා-

කොටස් වෙළඳපළ තුළ සිටිනා අයෝජකයින් විවිධ සතුන්ගේ හැසිරීම් වලට සමාන කරන්න පුළුවන්. එහෙම කරන්න පුළුවන් සතුන් සිව් දෙනෙක් සිටිනවා. ගවයා (Bull), වලසා (Bear), කුකුළා (Chicken) සහ ඌරා (pig) තමා මේ සතුන් සිව් දෙනා. ඌරා තමයි කිසිම ආයෝජකයෙක් වෙන්න අකමැති, නොවිය යුතු සත්වයා.

ගවයා (Bull)

කොටස් වෙළඳපළ තුළ සතුටින් සිටින සත්වයා තමයි ගවයා. කොටස් වෙළඳපළBullish trend එකකින් යනවා කියල කියන්නෙ, ආර්ථිකය වර්ධනය වෙමින් සියළුම කොටස් මිලද ඉහළ යමින් කොටස් වෙළඳපළ වර්ධනය වන කොට. ඒ ඒ සමාගම් වල වටිනාකම වගේම කොටස් මිලත් මේ කාලයේ ක්‍රමයෙන් වර්ධනය වනවා. ඉතින් මේ කාලයේදී, කෙනෙක් කොටස් මිලට ගෙන තබාගත්තොත් ලාභාංශ වශයෙන් හෝ ඉහළ මිලකට විකිණීමෙන් පහසුවෙන්ම ලාභ උපයන්න පුළුවන්.
බොහෝ දෙනෙක් මේ කාලයේදී කොටස් වෙළඳපළ සමඟ යමින් ලාභ උපයනවා. නමුත් කණගාටුවට කාරණය තමයි, මේක හැමදාම පවතින්නෙ නෑ.

වලසා (Bear)

වලසා කියල කියන්නෙ ගවයා වගේ ක්‍රියාකාරී සත්වයෙක් නෙමෙයිනෙ, කම්මැලි සතෙක්. ඉතින් කොටස් වල මිල පහළ යනකොට, රටේ ආර්ථිකය දුර්වල වෙනකොට කොටස් වෙළඳපළ Bearish Trend එකකට යනවා කියල කියනව. මේ කාලෙදි කොටස් මිලට ගෙන විකුණල ලාභ ගන්න බෑ. නමුත් මෙහෙම දෙයක් කරන්න පුළුවන්, ඔබ යම් සමාගමක කොටස් හිමිකරයෙක් නම්, ඒ කොටස් මිල දිගටම පහළ යනවා නම්, ඔබට පුළුවන්, පොඩි අලාභයක් විඳිමින් හෝ ලාභය තබාගෙන ඒ කොටස් විකුණල, මිල හොදටම පහල ගියාට පස්සෙ යළිත් කොටස් මිලට ගන්න.
මොවුන් වෙළඳපළට හා රටේ ආර්ථිකයට සෘණාත්මක බලපෑමක් ඇති කරනවා. ඔවුන් කරන්නෙ වෙළඳපළ පසුබෑමක් ඇතිවනවිට තමුන්ගේ කොටස් විකුණමින් වෙළඳපළින් තාවකාලිකව ඉවත්ව සිටීම. යළිත් වෙළඳපළ වර්ධනයක් සිදුවන බව පෙනෙන්න පටන්ගන්නකොට, ඔවුන් යළිත් කොටස් මිලට ගනිමින් වෙළඳපළ තුළට පිවිසෙනවා.

කුකුළා (Chickens)

කුකුළා කියන්නෙ බියගුලු සතෙක්නෙ, ඒකම තමා මෙතනත් තියෙන්නෙ. මේ ආකාරයේ ආයෝජකයින් හරිම බයයි අවදානමක් ගන්න, ඔවුන් කැමති නෑ අලාභයක් විඳින්න. ඉතින් ඔවුන් කිසිවිටෙක්වත් කොටස් වෙළඳපළින් කොටස් මිලට ගන්නෙ නෑ, කිසිම විදිහකින් අවදානමක් ගන්න මොවුන් සූදානම් නෑ. ඉතින් මොවුන් කරන්නෙ, ලැබෙන ලාභය අඩු උනත් අනිවාර්ය ආදායමක් ලැබෙන, අවදානමක් නැති, සුරැකුම්පත් වගේ දේවල් වල ආයෝජනය කරන එක තමයි. ඒවායින් ලැබෙන ප්‍රථිලාභ අඩු උනත් ඒවායේ අවදානමක් නෑ නෙ.
ආර්ථිකයේ පසුබෑමක් වෙනකොට මොවුනුත් ඒ සුරැකුම්පත් හර කරමින් තමුන්ගේ මුදල් සම්පූර්ණයෙන්ම යළි ලබාගන්නවා.

ඌරා (Pigs)

ඌරා කියන්නෙ මෝඩ සතෙක්. මේ ආකාරයේ ආයෝජකයින් කරන්නෙ, අනවශ්‍ය තරම්ම අවදානමක් ගන්න එක. ඔවුන්ට ඕනෙ එක පාර ලොකු ලාභයක් ගන්න. ඔවුන් ක්‍රියාත්මක වෙන්නෙ විවිධ පුවත්, කටකතා පදනම් කරගෙන. ඔවුන් ආයෝජනය කරන්න පෙර, බලන්නෙ නෑ ඒ සමාගම ස්ථාවර එකක්ද කියලවත්. ඉතින් මේ ආකාරයේ ආයෝජකයින් බොහෝවිට තමුන්ගේ සියළුම මුදල් පවා විනාශ කරගන්නවා ඉතා ඉහළ අවදානමක් ඇති ලොකු ලොකු ලාභ ලබා දෙන්නම් කියන සමාගම් වල කොටස් වල ආයෝජනය කරල.

නමුත් මෙහෙම දෙයක් තිබෙනවා, හරි දැනුම සහිතව ක්‍රියාකරන වෘත්තීයමය ආයෝජකයින් මේ ඌරන් වගේ ක්‍රියාකරන ආයෝජකයින්ට කැමතියි. මොකද වෘත්තීයමය ආයෝජකයින් ක්‍රියාකරන්නෙ ගවයන් හෝ වලසුන් වශයෙන්, ඉතින් ඔවුන් ලබාගන්නා ලාභයන්ගෙන් විශාල ප්‍රමාණයක් ලැබෙන්නෙ මේ ඌරන් වගේ ආයෝජනය කරන්නන්ගේ අලාභයන් හරහා.

ඔබ කුමනාකාරයේ ආයෝජකයෙක් විය යුතුද?
කොටස් වෙළඳපළ තුළ ආයෝජනය කිරීමේදී භාවිතා වන විවිධ ක්‍රමෝපායන් තිබෙනවා. වලසා හා ගවයා කියන්නෙ එකිනෙකට විරුද්ධ දෙදෙනෙක්. මොවුන් දෙදෙනාම වෙළඳපළ ගැන හොඳ අවදානයෙන් සිට හා ආර්ථික න්‍යායන්ට අනුව ක්‍රියා කරල හොඳ ආදායමක් උපද්දවනවා. කුකුළාත් යම් ආදායමක් ලබා ගන්නවා, නමුත් ඒක සාපේක්ෂව පහළ අගයක්.
ආයෝජනයකදී අත්‍යවශ්‍යයෙන්ම කළ යුත්තක් තමයි, පවතින තොරතුරු වලින් සමීක්ෂණ කරල තමුන්ගෙ ආයෝජන වලට ඉදිරියේදී කුමක් වෙයිද කියල පොඩ්ඩක් හොයල බලන එක. කොයි වෙලේවත් අන්තගාමී වෙන්නේ නැතුව මධ්‍යස්ථව සිතා බැලිය යුතුයි.

හුඟක් ආයෝජකයින් වලසා ගවයා කියන දෙවිදිහටම හැසිරෙනවා, වෙළඳපළ ක්‍රියාකාරී විට ඔවුනුත් ක්‍රියාකාරී වෙලා වෙළඳපළ පහළ බහිනකොට ඔවුනුත් වේගය අඩු කරනවා. ඉතින් මේ විදිහට මධ්‍යස්ථව ක්‍රියා කිරීමෙන් වෙළඳපළ තත්වය පහළ ගියත් ඉහළ ගියත් ඔවුන් මුදල් උපයනවා.

කොයි වෙලේවත් නොවිය යුතු සත්වයා තමයි ඌරා. කිසිම ආයෝජනයක් කරන්න එපා හොයල බලන්නෙ නැතුව. නොතේරෙන දේවල් කරන්න යන්නෙපා. කොටස් වෙළඳපළ සම්බන්ධයෙන් පැරණි කියමනක් තිබෙනවා "Bulls make money, bears make money, pigs just get slaughtered!". තේරෙනව ඇතිනෙ?
ඉතින් ඌරෙක් වෙනවාට වඩා ඉතාම හොඳයි කුකුළෙක් වෙන එක.

ඉතින් මේ තමයි, කොටස් වෙළඳපළක් තුළ සිටින සතුන් සිව් දෙනා. ඉතින් ඔබ කුමනාකාරයේ ආයෝජකයෙක්ද?
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07-16-2011, 09:26 PM

How to read an Annual Report:

How you read an annual report depends upon your purpose. As an investor, your purpose may be
to assess profitability, growth, stability, dividends, potential problems, risks or other factors
which may affect your investment in that company. The annual report provides a convenient way
to monitor the progress of a company. If you own shares in the company you should receive a
copy of their annual report in the mail from the company.

Annual reports are a corporate "work of art" and should not be read like a normal book. There is
no need to read the report cover to cover. The first pages are a colorful, non-technical overview of
the company's objectives and how well it's meeting them. The pages in the back are for number-
crunching and heavy-duty research. Receiving and reading annual reports together year to year
creates a kind of timeline for the company. You can learn a lot by reading about how the
company changed their business model or carried out their desired plans from one year to the
next.

There are nine sections in most annual reports. Not all reports will have all the sections or the
same type and amount of information. Here are the sections, what you'll find in each, and
questions you should ask yourself:

• Letter from the Chairman: Should cover changing conditions, previous objectives met
or missed and upcoming objectives, and actions taken or not to be taken.
• 10 Year Summary of Financial Figures: Is this included? Have revenues and profits
increased each year?
• Management Discussion and Analysis: Is it a clear discussion of significant financial
trends over the past few years? How candid and accurate is it?
• Subsidiaries, Brands and Addresses: Where is their headquarters? Is it clear what lines,
brand names the company has and what their overseas distribution network is?
• List of Directors and Officers: How many directors? Are the directors well-known and
respected? Are there an unusual number of directors (5 to 12 is typical)?
• Financial Charts: Financial information over a period of years in graphical
representation.
• Financial Statements: Most of the information you’ll be concerned with in the annual
report is located in the financial statements (the balance sheets, the cash flow
statements, and the income statements), which are discussed in detail in the Financial
Statements section, Notes to Financial Statements.
• Stock Price History: General trend of price over time. Up or down?

Financial Statements
This is the most important section of the annual report. According to the CSE Listing Rules, a
listed company shall prepare and circulate the Annual Report to the Exchange and to all
Shareholders of quoted securities before the expiry of 06 months from the close of the financial

year. These statements provide key information about the performance and financial health of
the company.
The following are the different financial statements that are disclosed in the annual report
• Statement of Income
• Balance Sheet
• Statement of Cash Flows
Income Statements

The income statement (sometimes called the profit-and-loss statement or P&L) shows the
revenue, expenses and profit for the company during the past year. You can use the income
statement to figure out cash flow, profit margins, and other financial metrics for the business.
Most importantly, the income statement contains the proverbial bottom line: profits.

The statements are audited by outside firms, however, so there should be footnotes or other
markers whenever anything deviates from standard accounting practices. The following list will
teach you how to read an income statement and use the information from them to make some
simple calculations regarding the firm's operations.

• Revenues: The revenue section will tell you how much profit the company took in for a
specified period of time. Sometimes companies will break down revenues according to
business sector or geographic region, but usually there will just be one number. Some
companies, especially retailers and manufacturers, use the term sales instead of
revenues, but it's the same idea.
• Expenses: The expense section will show you how the company spent its money.
Companies spend their money on a lot of different activities, so this section is usually
broken down into specific sub-sections. You might see expenses such as the following:
o Cost of Sales: This number includes expenses directly associated with creating
revenue, such as labor and materials.
o Operating Expenses: This number includes activities such as marketing,
research and development, and administration. It usually also includes
depreciation expenses and any special non-recurring charges.
o Interest Expenses: This figure includes all the interest the company paid out on
its bonds (if any) and/or long-term debt.
o Taxes: The amount of money paid as taxes by the firm.
o Extraordinary Expenses: This figure shows any unusual or one-time charges
that the firm must pay (e.g. a lawsuit settlement).

• Profit: The profit section of the income report is the part to which investors pay the most
attention. It shows whether the company made money or lost money. It usually includes
these specific sections:
o Net Income: This is the company’s bottom-line profit after all expenses and
revenues have been accounted for. If this number is positive, then the company
turned a profit for the period. If it’s negative, then the company suffered a loss.

• Margins: You can find out how much a company is really earning from its revenues on
the income sheet by calculating its margins, which are earnings expressed as a
percentage of sales. Here are a few margins that you might find useful:
o Gross Margins will tell you how much a company earns taking into
consideration the costs that it incurs for producing its products and/or services.
In other words, gross margin is equal to gross income divided by net sales, and is
expressed as a percentage. Gross margin is a good indication of how profitable a
company is at the most fundamental level. Companies with high gross margins
will have a lot of money left over to spend on other business operations, such as
research and development or marketing.
o Net Margins are similar to gross margins, except they take into account all of
the expenses associated with the business, including marketing expenses,
administrative expenses, etc. (so it is equal to net income divided by net sales).
Net margins provide an overall picture for the company; this is what
shareholders and investors usually watch most carefully.


Balance Sheets

The second financial statement that you'll encounter in the annual report is the balance sheet.
The basic concept underlying a balance sheet is simple enough: total assets equals total liabilities
plus equity. A lot of investors tend to focus on the income statement, but the balance sheet is just
as important a source of information. You can use the balance sheet to determine the firm's
liquidity, to see how leveraged the company is, or just to see all the specific assets and liabilities
of the company. The following list will teach you how to read a balance sheet and use the
information from it to find out the company's current financial standing.
• Current Assets are fixed assets on the balance sheet. Current assets are defined as assets
that can or will be converted into cash quickly (generally within one year). Current assets
include, of course, cash and cash equivalents (money market accounts, etc.), but it also
includes the company's inventories (unsold stock) and its accounts receivable
(uncollected bills from its debtors).

• Current Liabilities are the opposite of current assets. They are the money that the
company expects to pay out within the next year. Current liabilities include accounts
payables (bills the company must pay), interest on long term debt, taxes, and dividends.
• Non-Current Assets and Liabilities are assets that cannot be turned into cash quickly
or liabilities that are not due for over a year, respectively. This includes assets such as the
company's plants, property, and equipment, and liabilities like long-term loans.
• Ratios and Other Calculations can be calculated to analyze the balance sheet, just like
you can calculate several different types of margins to help you analyze a company's
income statement.
o Debt Equity Rate: The debt/asset ratio can show you what percentage of the
company's assets are financed through debt. You can calculate it by taking total
liabilities and dividing by total assets. If the ratio turns out to be less than one,
then that means that most of the company's assets are financed through equity.
If the ratio turns out to be greater than one, then the company is financing most
of its assets through debt. Companies that have high ratios are said to be "highly
leveraged." This means that they are carrying excessive amounts of debt and
could be in danger if creditors start to demand repayment.

o Current Ratio (depending on the industry): The current ratio is the opposite of
the debt/asset ratio: it takes the total number of current assets owned by the
company and divides by its total current liabilities. If this number is greater than
one, then the company has enough current assets to cover its short term
liabilities. A number that is much higher than one, however, might indicate that
the company is hoarding its assets instead of putting them to use. A number less
than one indicates that the company may experience problems with liquidity.
o Shareholder Equity: Shareholder equity is equal to total assets minus total
liabilities. This number shows you what part of the company is owned by the
shareholders after all of its obligations have been met.
o Working Capital: Working capital is calculated by subtracting the firm's current
liabilities from its current assets. This number shows you how much in liquid
assets the company has available to build its business. The number can be
positive or negative, depending on how much debt the company is carrying. In
general, companies that have lots of working capital will be more successful
since they can expand and improve upon their operations. Companies with
negative working capital may lack the funds necessary for growth.
o Turnover Ratio: The turnover ratio is used to determine how many times a
company "turns over" its inventory in a given year. It is calculated by taking the
cost of goods sold and dividing by the average inventory for the period. A high
turnover ratio is looked upon favorably because it is a sign that the company is
producing and selling its goods or services very quickly. A low turnover ratio
indicates that the company has large warehouses of inventory going unsold for
long periods of time.

o Leverage: Financial leverage is a measure of how much debt the company has
assumed in order to finance its assets. It is calculated by dividing the amount of
long-term debt carried by the company by the company's total equity.
Companies that are highly leveraged may be at risk of bankruptcy if they are
unable to make payments on their debt; they may also be unable to find new
lenders in the future. The important thing is to be able to differentiate between a
healthy amount of debt for good purposes and too much debt for questionable
purposes.
Cash Flow Statements

The cash flow statement is similar to the income statement, except that it dispenses with some
of the abstract items found on the income statement (such as depreciation) and focuses on
actual cash. Most of the information found on the cash flow statement is contained in either the
income statement or the balance sheet, but here it is organized in such a way that it is difficult
for companies to use accounting tricks to obscure the facts. The cash flow statement is broken
down into three parts:

• Cash Flows from Operating Activities: Here you'll find how much money the company
received from its actual business operations. This does not include cash received from
other sources, such as investments. To calculate the cash flow from operating activities,
the company starts with net income (from the income statement), then adds back in any
depreciation expenses, deferred taxes, accounts payable and accounts receivables, and
charges.
• Cash Flows from Investing Activities: This section shows how much money the
company has received (or lost) from its investing activities. It includes money that the
company has made (or lost) by investing its excess cash in different investments (stocks,
bonds, etc), money the company has made (or lost) from buying or selling subsidiaries,
and all the money the company has spent on its physical property, such as plants and
equipment.
• Cash Flow from Financing Activities: This is where the company reports the money
that it took in and paid out in order to finance its activities. In other words, it calculates
how much money the company spent or received from its stocks and bonds. This
includes any dividend payments that the company made to its shareholders, any money
that it made by selling new shares of stock to the public, any money it spent buying back
shares of its stock from the public, any money it borrowed, and any money it used to
repay money it had previously borrowed.

• Free Cash Flow: While free cash flow doesn't receive as much publicity as earnings do, it
is considered by some experts to be a better indicator of a company's bottom line. Free
cash flow is the amount of cash that a company has left over after it has paid all of its
expenses, including investments. It is quite possible, for example, for a company to have
positive earnings and negative free cash flow. Negative free cash flow is not necessarily
an indication of a bad company, however; many young companies tend to put a lot of
their cash into investments, which diminishes their free cash flow. But if a company is

spending so much cash, you should probably be investigating why it is doing so and what
sort of returns it is earning on its investments.
Notes to Financial Statements
This section provides explanations and backup for some of the numbers listed in the
Consolidated Financial Statements. All significant items are explained in greater detail in this
section. It includes the accounting methods used for the computation of different items such as
Revenue recognition, Inventories, Fixed assets and depreciation, Investments, and Research &
engineering expenses. As mentioned earlier, a detailed explanation of significant Unusual Items is
provided. Various businesses acquired during the year are listed along with other pertinent
information such as a breakdown of Fixed Assets, Long-Term Debt, details about Stock
Compensation Plans, Income Tax Expense, Contingencies, Employee Benefit Plans, etc.
Reconciliations of key financial numbers by our main business segments and also by geographic
area are provided as well. This is the section that the analysts concentrate on to get a better
understanding of the numbers provided in the Consolidated Financial Statements section.

*************************************
Source: Daily News Stock Market Column
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07-16-2011, 09:30 PM

Thanks
ela Thread Ekak
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07-16-2011, 09:30 PM

කොළඹ කොටස් වෙළදපලට ගෙදර සිටම පිවිසෙන්න.ඔන්ලයින් ට්‍රේඩින් ලිපියක් බලාපොරොත්තු වන්න
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07-16-2011, 09:36 PM

http://www.cse.lk/cmt/upload_cse_rep...ily_report.pdf

Example for Daily report in CSE web site.May be spam.But I will not upload this kind of links.(this is only for Education)(only summarized )

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07-16-2011, 09:37 PM

good post aiye
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Up 07-16-2011, 09:43 PM

Thanks for sharing macho...
+6 rep added...
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07-16-2011, 09:44 PM

http://www.cse.lk/270808/pdf/CSE_Annual_Report_2010.pdf

මෙන්න CSE එකේ වාර්ෂික වාර්තාව.ඔය වගේ වර්තාවන් අපි කොටස් වෙලදපලේ කොටස් ගත්තොත් වසරකට වතාවක් සීඩී හරි බුක් 1ක් විදියට හරි ගෙදරටම එවනවා.
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