[{"data":1,"prerenderedAt":3219},["ShallowReactive",2],{"navigation_docs":3,"learnalog_locale_counterpart__en_accounting_financial-accounting_05-analysis-comparison_15-ratio-analysis":1782,"-zh-accounting-financial-accounting-05-analysis-comparison-15-ratio-analysis":1783,"-zh-accounting-financial-accounting-05-analysis-comparison-15-ratio-analysis-surround":3214},[4,1038],{"title":5,"path":6,"stem":7,"children":8},"En","\u002Fen","en",[9,12,58,250,406,477,534,715,798,824,943],{"title":10,"path":6,"stem":11},"","en\u002Findex",{"title":13,"path":14,"stem":15,"children":16},"Research Skills and Academic Writing","\u002Fen\u002Facademic-writing","en\u002Facademic-writing\u002Findex",[17,18,22,26,30,34,38,42,46,50,54],{"title":13,"path":14,"stem":15},{"title":19,"path":20,"stem":21},"1. Research Questions, Scope, and Feasibility","\u002Fen\u002Facademic-writing\u002F01-research-questions-and-planning","en\u002Facademic-writing\u002F01-research-questions-and-planning",{"title":23,"path":24,"stem":25},"2. Search, Evaluate, and Read Evidence","\u002Fen\u002Facademic-writing\u002F02-reading-and-literature-matrix","en\u002Facademic-writing\u002F02-reading-and-literature-matrix",{"title":27,"path":28,"stem":29},"3. From Sources to Synthesis and Argument","\u002Fen\u002Facademic-writing\u002F03-arguments-outlines-and-paragraphs","en\u002Facademic-writing\u002F03-arguments-outlines-and-paragraphs",{"title":31,"path":32,"stem":33},"4. Literature Review and a Defensible Gap","\u002Fen\u002Facademic-writing\u002F04-writing-the-literature-review","en\u002Facademic-writing\u002F04-writing-the-literature-review",{"title":35,"path":36,"stem":37},"5. Research Design, Evidence, and Core Sections","\u002Fen\u002Facademic-writing\u002F05-core-sections-and-evidence","en\u002Facademic-writing\u002F05-core-sections-and-evidence",{"title":39,"path":40,"stem":41},"6. Citation, Paraphrasing, Integrity, and AI","\u002Fen\u002Facademic-writing\u002F06-citation-paraphrasing-and-integrity","en\u002Facademic-writing\u002F06-citation-paraphrasing-and-integrity",{"title":43,"path":44,"stem":45},"7. Revision, Review, and Submission","\u002Fen\u002Facademic-writing\u002F07-revision-style-and-submission","en\u002Facademic-writing\u002F07-revision-style-and-submission",{"title":47,"path":48,"stem":49},"8. Research Workbook","\u002Fen\u002Facademic-writing\u002F08-literature-review-checklist-and-template","en\u002Facademic-writing\u002F08-literature-review-checklist-and-template",{"title":51,"path":52,"stem":53},"9. Research Workflow and Tools","\u002Fen\u002Facademic-writing\u002F09-tools-for-academic-writing-and-literature-management","en\u002Facademic-writing\u002F09-tools-for-academic-writing-and-literature-management",{"title":55,"path":56,"stem":57},"10. Worked Project — From Question to Defensible Conclusion","\u002Fen\u002Facademic-writing\u002F10-worked-example-from-block-structure-to-question-chain","en\u002Facademic-writing\u002F10-worked-example-from-block-structure-to-question-chain",{"title":59,"path":60,"stem":61,"children":62,"page":249},"Accounting","\u002Fen\u002Faccounting","en\u002Faccounting",[63,69,87,93,193],{"title":64,"path":65,"stem":66,"children":67},"Accounting — From Evidence to Decisions","\u002Fen\u002Faccounting\u002F00-index","en\u002Faccounting\u002F00-index",[68],{"title":64,"path":65,"stem":66},{"title":70,"path":71,"stem":72,"children":73},"Accounting Appendix","\u002Fen\u002Faccounting\u002Fappendix","en\u002Faccounting\u002Fappendix\u002Findex",[74,75,79,83],{"title":70,"path":71,"stem":72},{"title":76,"path":77,"stem":78},"Worked Examples and Error Diagnosis","\u002Fen\u002Faccounting\u002Fappendix\u002F24-examples-pitfalls","en\u002Faccounting\u002Fappendix\u002F24-examples-pitfalls",{"title":80,"path":81,"stem":82},"Accounting Glossary","\u002Fen\u002Faccounting\u002Fappendix\u002F26-glossary","en\u002Faccounting\u002Fappendix\u002F26-glossary",{"title":84,"path":85,"stem":86},"Reading and Evidence Map","\u002Fen\u002Faccounting\u002Fappendix\u002F27-reading-map","en\u002Faccounting\u002Fappendix\u002F27-reading-map",{"title":88,"path":89,"stem":90,"children":91},"Northstar Record-to-Decision Capstone","\u002Fen\u002Faccounting\u002Fcapstone","en\u002Faccounting\u002Fcapstone\u002Findex",[92],{"title":88,"path":89,"stem":90},{"title":94,"path":95,"stem":96,"children":97},"Financial Accounting","\u002Fen\u002Faccounting\u002Ffinancial-accounting","en\u002Faccounting\u002Ffinancial-accounting\u002Findex",[98,99,117,131,165,179],{"title":94,"path":95,"stem":96},{"title":100,"path":101,"stem":102,"children":103},"1. Foundations","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F01-foundations","en\u002Faccounting\u002Ffinancial-accounting\u002F01-foundations\u002Findex",[104,105,109,113],{"title":100,"path":101,"stem":102},{"title":106,"path":107,"stem":108},"Objectives and Qualitative Characteristics","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F01-foundations\u002F01-objectives-qualitative-characteristics","en\u002Faccounting\u002Ffinancial-accounting\u002F01-foundations\u002F01-objectives-qualitative-characteristics",{"title":110,"path":111,"stem":112},"Equation and Elements","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F01-foundations\u002F02-equation-elements","en\u002Faccounting\u002Ffinancial-accounting\u002F01-foundations\u002F02-equation-elements",{"title":114,"path":115,"stem":116},"Accrual Basis, Estimates and Periods","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F01-foundations\u002F03-accounting-bases-principles","en\u002Faccounting\u002Ffinancial-accounting\u002F01-foundations\u002F03-accounting-bases-principles",{"title":118,"path":119,"stem":120,"children":121},"2. Recording Transactions","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F02-recording-transactions","en\u002Faccounting\u002Ffinancial-accounting\u002F02-recording-transactions\u002Findex",[122,123,127],{"title":118,"path":119,"stem":120},{"title":124,"path":125,"stem":126},"Double-Entry and Debit\u002FCredit","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F02-recording-transactions\u002F04-double-entry-dr-cr","en\u002Faccounting\u002Ffinancial-accounting\u002F02-recording-transactions\u002F04-double-entry-dr-cr",{"title":128,"path":129,"stem":130},"Accounting Cycle","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F02-recording-transactions\u002F05-accounting-cycle","en\u002Faccounting\u002Ffinancial-accounting\u002F02-recording-transactions\u002F05-accounting-cycle",{"title":132,"path":133,"stem":134,"children":135},"3. Measurement and Adjustments","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments","en\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002Findex",[136,137,141,145,149,153,157,161],{"title":132,"path":133,"stem":134},{"title":138,"path":139,"stem":140},"Revenue Recognition","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F07-revenue-recognition","en\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F07-revenue-recognition",{"title":142,"path":143,"stem":144},"Inventory","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F08-inventory","en\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F08-inventory",{"title":146,"path":147,"stem":148},"Receivables and Expected Credit Losses","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F09-receivables","en\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F09-receivables",{"title":150,"path":151,"stem":152},"Property, Plant and Equipment","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F10-ppe","en\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F10-ppe",{"title":154,"path":155,"stem":156},"Intangible Assets","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F11-intangibles","en\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F11-intangibles",{"title":158,"path":159,"stem":160},"Leases","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F12-leases","en\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F12-leases",{"title":162,"path":163,"stem":164},"Current and Deferred Income Tax","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F13-income-tax","en\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F13-income-tax",{"title":166,"path":167,"stem":168,"children":169},"4. Reporting and Cash","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F04-reporting-cash","en\u002Faccounting\u002Ffinancial-accounting\u002F04-reporting-cash\u002Findex",[170,171,175],{"title":166,"path":167,"stem":168},{"title":172,"path":173,"stem":174},"Linked Financial Statements","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F04-reporting-cash\u002F06-financial-statements","en\u002Faccounting\u002Ffinancial-accounting\u002F04-reporting-cash\u002F06-financial-statements",{"title":176,"path":177,"stem":178},"Cash, Reconciliation and Internal Control","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F04-reporting-cash\u002F14-cash-control","en\u002Faccounting\u002Ffinancial-accounting\u002F04-reporting-cash\u002F14-cash-control",{"title":180,"path":181,"stem":182,"children":183},"5. Analysis and Comparison","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F05-analysis-comparison","en\u002Faccounting\u002Ffinancial-accounting\u002F05-analysis-comparison\u002Findex",[184,185,189],{"title":180,"path":181,"stem":182},{"title":186,"path":187,"stem":188},"Ratio Analysis","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F05-analysis-comparison\u002F15-ratio-analysis","en\u002Faccounting\u002Ffinancial-accounting\u002F05-analysis-comparison\u002F15-ratio-analysis",{"title":190,"path":191,"stem":192},"IFRS versus US GAAP","\u002Fen\u002Faccounting\u002Ffinancial-accounting\u002F05-analysis-comparison\u002F25-ifrs-gaap","en\u002Faccounting\u002Ffinancial-accounting\u002F05-analysis-comparison\u002F25-ifrs-gaap",{"title":194,"path":195,"stem":196,"children":197},"Management Accounting","\u002Fen\u002Faccounting\u002Fmanagement-accounting","en\u002Faccounting\u002Fmanagement-accounting\u002Findex",[198,199,217,235],{"title":194,"path":195,"stem":196},{"title":200,"path":201,"stem":202,"children":203},"1. Cost Foundations","\u002Fen\u002Faccounting\u002Fmanagement-accounting\u002F01-cost-foundations","en\u002Faccounting\u002Fmanagement-accounting\u002F01-cost-foundations\u002Findex",[204,205,209,213],{"title":200,"path":201,"stem":202},{"title":206,"path":207,"stem":208},"Cost Concepts and Behaviour","\u002Fen\u002Faccounting\u002Fmanagement-accounting\u002F01-cost-foundations\u002F16-cost-concepts","en\u002Faccounting\u002Fmanagement-accounting\u002F01-cost-foundations\u002F16-cost-concepts",{"title":210,"path":211,"stem":212},"Costing Systems","\u002Fen\u002Faccounting\u002Fmanagement-accounting\u002F01-cost-foundations\u002F17-costing-systems","en\u002Faccounting\u002Fmanagement-accounting\u002F01-cost-foundations\u002F17-costing-systems",{"title":214,"path":215,"stem":216},"Variable and Absorption Costing","\u002Fen\u002Faccounting\u002Fmanagement-accounting\u002F01-cost-foundations\u002F19-variable-vs-absorption","en\u002Faccounting\u002Fmanagement-accounting\u002F01-cost-foundations\u002F19-variable-vs-absorption",{"title":218,"path":219,"stem":220,"children":221},"2. Planning and Control","\u002Fen\u002Faccounting\u002Fmanagement-accounting\u002F02-planning-control","en\u002Faccounting\u002Fmanagement-accounting\u002F02-planning-control\u002Findex",[222,223,227,231],{"title":218,"path":219,"stem":220},{"title":224,"path":225,"stem":226},"Cost–Volume–Profit Analysis","\u002Fen\u002Faccounting\u002Fmanagement-accounting\u002F02-planning-control\u002F18-cvp-analysis","en\u002Faccounting\u002Fmanagement-accounting\u002F02-planning-control\u002F18-cvp-analysis",{"title":228,"path":229,"stem":230},"Budgeting and Variance Analysis","\u002Fen\u002Faccounting\u002Fmanagement-accounting\u002F02-planning-control\u002F20-budgeting-variances","en\u002Faccounting\u002Fmanagement-accounting\u002F02-planning-control\u002F20-budgeting-variances",{"title":232,"path":233,"stem":234},"Performance Measurement","\u002Fen\u002Faccounting\u002Fmanagement-accounting\u002F02-planning-control\u002F21-performance-measurement","en\u002Faccounting\u002Fmanagement-accounting\u002F02-planning-control\u002F21-performance-measurement",{"title":236,"path":237,"stem":238,"children":239},"3. Decisions and Investment","\u002Fen\u002Faccounting\u002Fmanagement-accounting\u002F03-decisions-investment","en\u002Faccounting\u002Fmanagement-accounting\u002F03-decisions-investment\u002Findex",[240,241,245],{"title":236,"path":237,"stem":238},{"title":242,"path":243,"stem":244},"Short-Term Decisions","\u002Fen\u002Faccounting\u002Fmanagement-accounting\u002F03-decisions-investment\u002F22-short-term-decisions","en\u002Faccounting\u002Fmanagement-accounting\u002F03-decisions-investment\u002F22-short-term-decisions",{"title":246,"path":247,"stem":248},"Capital Budgeting","\u002Fen\u002Faccounting\u002Fmanagement-accounting\u002F03-decisions-investment\u002F23-capital-budgeting","en\u002Faccounting\u002Fmanagement-accounting\u002F03-decisions-investment\u002F23-capital-budgeting",false,{"title":251,"path":252,"stem":253,"children":254,"page":249},"Business Analytics","\u002Fen\u002Fbusiness-analytics","en\u002Fbusiness-analytics",[255,261,279,305,335,365,383,400],{"title":256,"path":257,"stem":258,"children":259},"Business Analytics — From Data to Defensible Action","\u002Fen\u002Fbusiness-analytics\u002F00-index","en\u002Fbusiness-analytics\u002F00-index",[260],{"title":256,"path":257,"stem":258},{"title":262,"path":263,"stem":264,"children":265},"0. Decision and Data Foundations","\u002Fen\u002Fbusiness-analytics\u002F00-intro","en\u002Fbusiness-analytics\u002F00-intro\u002Findex",[266,267,271,275],{"title":262,"path":263,"stem":264},{"title":268,"path":269,"stem":270},"Decision Framing","\u002Fen\u002Fbusiness-analytics\u002F00-intro\u002F01-decision-framing","en\u002Fbusiness-analytics\u002F00-intro\u002F01-decision-framing",{"title":272,"path":273,"stem":274},"Data Contracts","\u002Fen\u002Fbusiness-analytics\u002F00-intro\u002F02-data-contracts","en\u002Fbusiness-analytics\u002F00-intro\u002F02-data-contracts",{"title":276,"path":277,"stem":278},"Reproducible Analytics Workflow","\u002Fen\u002Fbusiness-analytics\u002F00-intro\u002F03-reproducible-workflow","en\u002Fbusiness-analytics\u002F00-intro\u002F03-reproducible-workflow",{"title":280,"path":281,"stem":282,"children":283},"1. Descriptive Analytics","\u002Fen\u002Fbusiness-analytics\u002F01-descriptive","en\u002Fbusiness-analytics\u002F01-descriptive\u002Findex",[284,285,289,293,297,301],{"title":280,"path":281,"stem":282},{"title":286,"path":287,"stem":288},"Distributions and Exploratory Data Analysis","\u002Fen\u002Fbusiness-analytics\u002F01-descriptive\u002F04-distributions-eda","en\u002Fbusiness-analytics\u002F01-descriptive\u002F04-distributions-eda",{"title":290,"path":291,"stem":292},"KPIs and Denominators","\u002Fen\u002Fbusiness-analytics\u002F01-descriptive\u002F05-kpis-denominators","en\u002Fbusiness-analytics\u002F01-descriptive\u002F05-kpis-denominators",{"title":294,"path":295,"stem":296},"Segments, Cohorts and Funnels","\u002Fen\u002Fbusiness-analytics\u002F01-descriptive\u002F06-segmentation-cohorts-funnels","en\u002Fbusiness-analytics\u002F01-descriptive\u002F06-segmentation-cohorts-funnels",{"title":298,"path":299,"stem":300},"Visual Evidence and Data Stories","\u002Fen\u002Fbusiness-analytics\u002F01-descriptive\u002F07-visualisation-story","en\u002Fbusiness-analytics\u002F01-descriptive\u002F07-visualisation-story",{"title":302,"path":303,"stem":304},"Experiments and Causal Boundaries","\u002Fen\u002Fbusiness-analytics\u002F01-descriptive\u002F08-experiments-causal-boundary","en\u002Fbusiness-analytics\u002F01-descriptive\u002F08-experiments-causal-boundary",{"title":306,"path":307,"stem":308,"children":309},"2. Predictive Analytics","\u002Fen\u002Fbusiness-analytics\u002F02-predictive","en\u002Fbusiness-analytics\u002F02-predictive\u002Findex",[310,311,315,319,323,327,331],{"title":306,"path":307,"stem":308},{"title":312,"path":313,"stem":314},"Validation, Baselines and Leakage","\u002Fen\u002Fbusiness-analytics\u002F02-predictive\u002F09-validation-leakage","en\u002Fbusiness-analytics\u002F02-predictive\u002F09-validation-leakage",{"title":316,"path":317,"stem":318},"Regression and Forecasting","\u002Fen\u002Fbusiness-analytics\u002F02-predictive\u002F10-regression-forecasting","en\u002Fbusiness-analytics\u002F02-predictive\u002F10-regression-forecasting",{"title":320,"path":321,"stem":322},"Classification and Calibration","\u002Fen\u002Fbusiness-analytics\u002F02-predictive\u002F11-classification-calibration","en\u002Fbusiness-analytics\u002F02-predictive\u002F11-classification-calibration",{"title":324,"path":325,"stem":326},"Trees and Ensembles","\u002Fen\u002Fbusiness-analytics\u002F02-predictive\u002F12-trees-ensembles","en\u002Fbusiness-analytics\u002F02-predictive\u002F12-trees-ensembles",{"title":328,"path":329,"stem":330},"Decision Metrics and Thresholds","\u002Fen\u002Fbusiness-analytics\u002F02-predictive\u002F13-decision-metrics-thresholds","en\u002Fbusiness-analytics\u002F02-predictive\u002F13-decision-metrics-thresholds",{"title":332,"path":333,"stem":334},"Explainability, Monitoring and Drift","\u002Fen\u002Fbusiness-analytics\u002F02-predictive\u002F14-explainability-drift","en\u002Fbusiness-analytics\u002F02-predictive\u002F14-explainability-drift",{"title":336,"path":337,"stem":338,"children":339},"3. Prescriptive Analytics","\u002Fen\u002Fbusiness-analytics\u002F03-prescriptive","en\u002Fbusiness-analytics\u002F03-prescriptive\u002Findex",[340,341,345,349,353,357,361],{"title":336,"path":337,"stem":338},{"title":342,"path":343,"stem":344},"Decision-Making under Uncertainty","\u002Fen\u002Fbusiness-analytics\u002F03-prescriptive\u002F15-decision-uncertainty","en\u002Fbusiness-analytics\u002F03-prescriptive\u002F15-decision-uncertainty",{"title":346,"path":347,"stem":348},"Linear Optimisation","\u002Fen\u002Fbusiness-analytics\u002F03-prescriptive\u002F16-linear-optimization","en\u002Fbusiness-analytics\u002F03-prescriptive\u002F16-linear-optimization",{"title":350,"path":351,"stem":352},"Inventory and Allocation","\u002Fen\u002Fbusiness-analytics\u002F03-prescriptive\u002F17-inventory-allocation","en\u002Fbusiness-analytics\u002F03-prescriptive\u002F17-inventory-allocation",{"title":354,"path":355,"stem":356},"Queueing and Simulation","\u002Fen\u002Fbusiness-analytics\u002F03-prescriptive\u002F18-queueing-simulation","en\u002Fbusiness-analytics\u002F03-prescriptive\u002F18-queueing-simulation",{"title":358,"path":359,"stem":360},"Pricing and Revenue Management","\u002Fen\u002Fbusiness-analytics\u002F03-prescriptive\u002F19-pricing-experimentation","en\u002Fbusiness-analytics\u002F03-prescriptive\u002F19-pricing-experimentation",{"title":362,"path":363,"stem":364},"Causal Targeting and Policy Learning","\u002Fen\u002Fbusiness-analytics\u002F03-prescriptive\u002F20-causal-targeting","en\u002Fbusiness-analytics\u002F03-prescriptive\u002F20-causal-targeting",{"title":366,"path":367,"stem":368,"children":369},"4. Deployment and Governance","\u002Fen\u002Fbusiness-analytics\u002F04-deployment","en\u002Fbusiness-analytics\u002F04-deployment\u002Findex",[370,371,375,379],{"title":366,"path":367,"stem":368},{"title":372,"path":373,"stem":374},"Data Products and Monitoring","\u002Fen\u002Fbusiness-analytics\u002F04-deployment\u002F21-data-products-monitoring","en\u002Fbusiness-analytics\u002F04-deployment\u002F21-data-products-monitoring",{"title":376,"path":377,"stem":378},"Governance, Fairness and Privacy","\u002Fen\u002Fbusiness-analytics\u002F04-deployment\u002F22-governance-fairness-privacy","en\u002Fbusiness-analytics\u002F04-deployment\u002F22-governance-fairness-privacy",{"title":380,"path":381,"stem":382},"Adoption and Business Value","\u002Fen\u002Fbusiness-analytics\u002F04-deployment\u002F23-adoption-value","en\u002Fbusiness-analytics\u002F04-deployment\u002F23-adoption-value",{"title":384,"path":385,"stem":386,"children":387},"Appendix and Revision Tools","\u002Fen\u002Fbusiness-analytics\u002Fappendix","en\u002Fbusiness-analytics\u002Fappendix\u002Findex",[388,389,393,397],{"title":384,"path":385,"stem":386},{"title":390,"path":391,"stem":392},"Formula and Decision Map","\u002Fen\u002Fbusiness-analytics\u002Fappendix\u002F24-formula-map","en\u002Fbusiness-analytics\u002Fappendix\u002F24-formula-map",{"title":394,"path":395,"stem":396},"Worked Examples and Pitfalls","\u002Fen\u002Fbusiness-analytics\u002Fappendix\u002F25-worked-examples-pitfalls","en\u002Fbusiness-analytics\u002Fappendix\u002F25-worked-examples-pitfalls",{"title":84,"path":398,"stem":399},"\u002Fen\u002Fbusiness-analytics\u002Fappendix\u002F26-reading-map","en\u002Fbusiness-analytics\u002Fappendix\u002F26-reading-map",{"title":401,"path":402,"stem":403,"children":404},"Capstone — The Evening Delivery Promise","\u002Fen\u002Fbusiness-analytics\u002Fcapstone","en\u002Fbusiness-analytics\u002Fcapstone\u002Findex",[405],{"title":401,"path":402,"stem":403},{"title":407,"path":408,"stem":409,"children":410,"page":249},"Financial Economic Time Series","\u002Fen\u002Ffinancial-economic-time-series","en\u002Ffinancial-economic-time-series",[411,417,423,429,435,441,447,453,459,465,471],{"title":412,"path":413,"stem":414,"children":415},"Financial and Economic Time Series — Course Guide","\u002Fen\u002Ffinancial-economic-time-series\u002F00-intro","en\u002Ffinancial-economic-time-series\u002F00-intro\u002Findex",[416],{"title":412,"path":413,"stem":414},{"title":418,"path":419,"stem":420,"children":421},"Three Versions of Time Series","\u002Fen\u002Ffinancial-economic-time-series\u002F01-bridge","en\u002Ffinancial-economic-time-series\u002F01-bridge\u002Findex",[422],{"title":418,"path":419,"stem":420},{"title":424,"path":425,"stem":426,"children":427},"Data, Clocks, and Transformations","\u002Fen\u002Ffinancial-economic-time-series\u002F02-data-transformations","en\u002Ffinancial-economic-time-series\u002F02-data-transformations\u002Findex",[428],{"title":424,"path":425,"stem":426},{"title":430,"path":431,"stem":432,"children":433},"Predictive Regressions and Persistent Predictors","\u002Fen\u002Ffinancial-economic-time-series\u002F03-predictive-regressions","en\u002Ffinancial-economic-time-series\u002F03-predictive-regressions\u002Findex",[434],{"title":430,"path":431,"stem":432},{"title":436,"path":437,"stem":438,"children":439},"Volatility, Tails, and Financial Risk","\u002Fen\u002Ffinancial-economic-time-series\u002F04-volatility-risk","en\u002Ffinancial-economic-time-series\u002F04-volatility-risk\u002Findex",[440],{"title":436,"path":437,"stem":438},{"title":442,"path":443,"stem":444,"children":445},"Unit Roots, Cointegration, and Error Correction","\u002Fen\u002Ffinancial-economic-time-series\u002F05-unit-roots-cointegration","en\u002Ffinancial-economic-time-series\u002F05-unit-roots-cointegration\u002Findex",[446],{"title":442,"path":443,"stem":444},{"title":448,"path":449,"stem":450,"children":451},"VAR, Structural Identification, and Local Projections","\u002Fen\u002Ffinancial-economic-time-series\u002F06-var-identification","en\u002Ffinancial-economic-time-series\u002F06-var-identification\u002Findex",[452],{"title":448,"path":449,"stem":450},{"title":454,"path":455,"stem":456,"children":457},"State Space, Mixed Frequency, and Nowcasting","\u002Fen\u002Ffinancial-economic-time-series\u002F07-state-space-nowcasting","en\u002Ffinancial-economic-time-series\u002F07-state-space-nowcasting\u002Findex",[458],{"title":454,"path":455,"stem":456},{"title":460,"path":461,"stem":462,"children":463},"Forecast Evaluation for Decisions","\u002Fen\u002Ffinancial-economic-time-series\u002F08-forecast-evaluation","en\u002Ffinancial-economic-time-series\u002F08-forecast-evaluation\u002Findex",[464],{"title":460,"path":461,"stem":462},{"title":466,"path":467,"stem":468,"children":469},"Integrated R Laboratory","\u002Fen\u002Ffinancial-economic-time-series\u002F09-r-laboratory","en\u002Ffinancial-economic-time-series\u002F09-r-laboratory\u002Findex",[470],{"title":466,"path":467,"stem":468},{"title":472,"path":473,"stem":474,"children":475},"Capstones, Data, and Reading Ladder","\u002Fen\u002Ffinancial-economic-time-series\u002F10-capstone-readings","en\u002Ffinancial-economic-time-series\u002F10-capstone-readings\u002Findex",[476],{"title":472,"path":473,"stem":474},{"title":478,"path":479,"stem":480,"children":481,"page":249},"Intro To Economics","\u002Fen\u002Fintro-to-economics","en\u002Fintro-to-economics",[482,486,490,494,498,502,506,510,514,518,522,526,530],{"title":483,"path":484,"stem":485},"Introduction to Economics — Decisions, Markets, and the Macroeconomy","\u002Fen\u002Fintro-to-economics\u002F00-intro","en\u002Fintro-to-economics\u002F00-intro",{"title":487,"path":488,"stem":489},"Chapter 1 — Choice, Opportunity Cost, and Trade","\u002Fen\u002Fintro-to-economics\u002F01-foundations","en\u002Fintro-to-economics\u002F01-foundations",{"title":491,"path":492,"stem":493},"Chapter 2 — Demand, Supply, Equilibrium, and Welfare","\u002Fen\u002Fintro-to-economics\u002F02-demand-and-supply","en\u002Fintro-to-economics\u002F02-demand-and-supply",{"title":495,"path":496,"stem":497},"Chapter 3 — Elasticity, Revenue, and Tax Incidence","\u002Fen\u002Fintro-to-economics\u002F03-elasticity","en\u002Fintro-to-economics\u002F03-elasticity",{"title":499,"path":500,"stem":501},"Chapter 4 — Firms, Market Power, and Market Failure","\u002Fen\u002Fintro-to-economics\u002F04-market-structures","en\u002Fintro-to-economics\u002F04-market-structures",{"title":503,"path":504,"stem":505},"Chapter 5 — GDP, Income, Wealth, and Welfare","\u002Fen\u002Fintro-to-economics\u002F05-gdp-and-wealth","en\u002Fintro-to-economics\u002F05-gdp-and-wealth",{"title":507,"path":508,"stem":509},"Chapter 6 — Inflation, Purchasing Power, and Labour Markets","\u002Fen\u002Fintro-to-economics\u002F06-inflation-and-unemployment","en\u002Fintro-to-economics\u002F06-inflation-and-unemployment",{"title":511,"path":512,"stem":513},"Chapter 7 — Productivity, Technology, and Economic Growth","\u002Fen\u002Fintro-to-economics\u002F07-economic-growth","en\u002Fintro-to-economics\u002F07-economic-growth",{"title":515,"path":516,"stem":517},"Chapter 8 — Money, Credit, and Banking","\u002Fen\u002Fintro-to-economics\u002F08-money-and-banking","en\u002Fintro-to-economics\u002F08-money-and-banking",{"title":519,"path":520,"stem":521},"Chapter 9 — Business Cycles, AD–AS, and Monetary Policy","\u002Fen\u002Fintro-to-economics\u002F09-monetary-policy-and-ad-as","en\u002Fintro-to-economics\u002F09-monetary-policy-and-ad-as",{"title":523,"path":524,"stem":525},"Chapter 10 — Fiscal Policy, Distribution, and Public Debt","\u002Fen\u002Fintro-to-economics\u002F10-fiscal-policy","en\u002Fintro-to-economics\u002F10-fiscal-policy",{"title":527,"path":528,"stem":529},"Chapter 11 — Trade, Capital Flows, and Exchange Rates","\u002Fen\u002Fintro-to-economics\u002F11-open-economy-and-exchange-rates","en\u002Fintro-to-economics\u002F11-open-economy-and-exchange-rates",{"title":531,"path":532,"stem":533},"Chapter 12 — Integrated Economic Analysis Studio","\u002Fen\u002Fintro-to-economics\u002F12-review-and-case-studies","en\u002Fintro-to-economics\u002F12-review-and-case-studies",{"title":535,"path":536,"stem":537,"children":538,"page":249},"Microeconometrics","\u002Fen\u002Fmicroeconometrics","en\u002Fmicroeconometrics",[539,557,563,581,603,629,651,673,691,709],{"title":540,"path":541,"stem":542,"children":543},"0. Causal Questions and Designs","\u002Fen\u002Fmicroeconometrics\u002F00-foundations","en\u002Fmicroeconometrics\u002F00-foundations\u002Findex",[544,545,549,553],{"title":540,"path":541,"stem":542},{"title":546,"path":547,"stem":548},"Causal Questions and Estimands","\u002Fen\u002Fmicroeconometrics\u002F00-foundations\u002F01-causal-question-estimands","en\u002Fmicroeconometrics\u002F00-foundations\u002F01-causal-question-estimands",{"title":550,"path":551,"stem":552},"Potential Outcomes and Experiments","\u002Fen\u002Fmicroeconometrics\u002F00-foundations\u002F02-potential-outcomes-experiments","en\u002Fmicroeconometrics\u002F00-foundations\u002F02-potential-outcomes-experiments",{"title":554,"path":555,"stem":556},"Causal Diagrams and Controls","\u002Fen\u002Fmicroeconometrics\u002F00-foundations\u002F03-dags-controls","en\u002Fmicroeconometrics\u002F00-foundations\u002F03-dags-controls",{"title":558,"path":559,"stem":560,"children":561},"Microeconometrics — Designing Credible Counterfactuals","\u002Fen\u002Fmicroeconometrics\u002F00-index","en\u002Fmicroeconometrics\u002F00-index",[562],{"title":558,"path":559,"stem":560},{"title":564,"path":565,"stem":566,"children":567},"1. Regression and Inference","\u002Fen\u002Fmicroeconometrics\u002F01-regression","en\u002Fmicroeconometrics\u002F01-regression\u002Findex",[568,569,573,577],{"title":564,"path":565,"stem":566},{"title":570,"path":571,"stem":572},"OLS as a Projection","\u002Fen\u002Fmicroeconometrics\u002F01-regression\u002F04-ols-projection","en\u002Fmicroeconometrics\u002F01-regression\u002F04-ols-projection",{"title":574,"path":575,"stem":576},"FWL, Selection and Controls","\u002Fen\u002Fmicroeconometrics\u002F01-regression\u002F05-fwl-selection-controls","en\u002Fmicroeconometrics\u002F01-regression\u002F05-fwl-selection-controls",{"title":578,"path":579,"stem":580},"Inference and Clustering","\u002Fen\u002Fmicroeconometrics\u002F01-regression\u002F06-inference-clustering","en\u002Fmicroeconometrics\u002F01-regression\u002F06-inference-clustering",{"title":582,"path":583,"stem":584,"children":585},"2. Instruments and Panel Data","\u002Fen\u002Fmicroeconometrics\u002F02-iv-panel","en\u002Fmicroeconometrics\u002F02-iv-panel\u002Findex",[586,587,591,595,599],{"title":582,"path":583,"stem":584},{"title":588,"path":589,"stem":590},"Instrumental Variables","\u002Fen\u002Fmicroeconometrics\u002F02-iv-panel\u002F07-iv-identification","en\u002Fmicroeconometrics\u002F02-iv-panel\u002F07-iv-identification",{"title":592,"path":593,"stem":594},"Weak Instruments and LATE","\u002Fen\u002Fmicroeconometrics\u002F02-iv-panel\u002F08-weak-iv-late","en\u002Fmicroeconometrics\u002F02-iv-panel\u002F08-weak-iv-late",{"title":596,"path":597,"stem":598},"Panel Fixed Effects","\u002Fen\u002Fmicroeconometrics\u002F02-iv-panel\u002F09-panel-fixed-effects","en\u002Fmicroeconometrics\u002F02-iv-panel\u002F09-panel-fixed-effects",{"title":600,"path":601,"stem":602},"Dynamic Panels and Limits","\u002Fen\u002Fmicroeconometrics\u002F02-iv-panel\u002F10-dynamic-panel","en\u002Fmicroeconometrics\u002F02-iv-panel\u002F10-dynamic-panel",{"title":604,"path":605,"stem":606,"children":607},"3. Policy Evaluation Designs","\u002Fen\u002Fmicroeconometrics\u002F03-policy-designs","en\u002Fmicroeconometrics\u002F03-policy-designs\u002Findex",[608,609,613,617,621,625],{"title":604,"path":605,"stem":606},{"title":610,"path":611,"stem":612},"Difference-in-Differences","\u002Fen\u002Fmicroeconometrics\u002F03-policy-designs\u002F11-did-core","en\u002Fmicroeconometrics\u002F03-policy-designs\u002F11-did-core",{"title":614,"path":615,"stem":616},"Staggered DID and Event Studies","\u002Fen\u002Fmicroeconometrics\u002F03-policy-designs\u002F12-staggered-event-studies","en\u002Fmicroeconometrics\u002F03-policy-designs\u002F12-staggered-event-studies",{"title":618,"path":619,"stem":620},"Regression Discontinuity","\u002Fen\u002Fmicroeconometrics\u002F03-policy-designs\u002F13-rdd","en\u002Fmicroeconometrics\u002F03-policy-designs\u002F13-rdd",{"title":622,"path":623,"stem":624},"Matching, Weighting and Overlap","\u002Fen\u002Fmicroeconometrics\u002F03-policy-designs\u002F14-matching-weighting","en\u002Fmicroeconometrics\u002F03-policy-designs\u002F14-matching-weighting",{"title":626,"path":627,"stem":628},"Synthetic Control","\u002Fen\u002Fmicroeconometrics\u002F03-policy-designs\u002F15-synthetic-control","en\u002Fmicroeconometrics\u002F03-policy-designs\u002F15-synthetic-control",{"title":630,"path":631,"stem":632,"children":633},"Module 4 — Choice and Limited Outcomes","\u002Fen\u002Fmicroeconometrics\u002F04-outcomes-choice","en\u002Fmicroeconometrics\u002F04-outcomes-choice\u002Findex",[634,635,639,643,647],{"title":630,"path":631,"stem":632},{"title":636,"path":637,"stem":638},"Binary Choice","\u002Fen\u002Fmicroeconometrics\u002F04-outcomes-choice\u002F16-binary-choice","en\u002Fmicroeconometrics\u002F04-outcomes-choice\u002F16-binary-choice",{"title":640,"path":641,"stem":642},"Multinomial and Ordered Choice","\u002Fen\u002Fmicroeconometrics\u002F04-outcomes-choice\u002F17-multinomial-choice","en\u002Fmicroeconometrics\u002F04-outcomes-choice\u002F17-multinomial-choice",{"title":644,"path":645,"stem":646},"Count Outcomes","\u002Fen\u002Fmicroeconometrics\u002F04-outcomes-choice\u002F18-count-outcomes","en\u002Fmicroeconometrics\u002F04-outcomes-choice\u002F18-count-outcomes",{"title":648,"path":649,"stem":650},"Censoring, Truncation and Selection","\u002Fen\u002Fmicroeconometrics\u002F04-outcomes-choice\u002F19-censoring-selection","en\u002Fmicroeconometrics\u002F04-outcomes-choice\u002F19-censoring-selection",{"title":652,"path":653,"stem":654,"children":655},"Module 5 — Modern Causal Analysis","\u002Fen\u002Fmicroeconometrics\u002F05-modern-causal","en\u002Fmicroeconometrics\u002F05-modern-causal\u002Findex",[656,657,661,665,669],{"title":652,"path":653,"stem":654},{"title":658,"path":659,"stem":660},"Double Machine Learning","\u002Fen\u002Fmicroeconometrics\u002F05-modern-causal\u002F20-dml","en\u002Fmicroeconometrics\u002F05-modern-causal\u002F20-dml",{"title":662,"path":663,"stem":664},"Heterogeneity and Policy Learning","\u002Fen\u002Fmicroeconometrics\u002F05-modern-causal\u002F21-heterogeneity-policy","en\u002Fmicroeconometrics\u002F05-modern-causal\u002F21-heterogeneity-policy",{"title":666,"path":667,"stem":668},"Sensitivity and Partial Identification","\u002Fen\u002Fmicroeconometrics\u002F05-modern-causal\u002F22-sensitivity-partial-id","en\u002Fmicroeconometrics\u002F05-modern-causal\u002F22-sensitivity-partial-id",{"title":670,"path":671,"stem":672},"External Validity and Transport","\u002Fen\u002Fmicroeconometrics\u002F05-modern-causal\u002F23-external-validity","en\u002Fmicroeconometrics\u002F05-modern-causal\u002F23-external-validity",{"title":674,"path":675,"stem":676,"children":677},"Module 6 — From Data to Auditable Evidence","\u002Fen\u002Fmicroeconometrics\u002F06-workflow","en\u002Fmicroeconometrics\u002F06-workflow\u002Findex",[678,679,683,687],{"title":674,"path":675,"stem":676},{"title":680,"path":681,"stem":682},"Data Provenance","\u002Fen\u002Fmicroeconometrics\u002F06-workflow\u002F24-data-provenance","en\u002Fmicroeconometrics\u002F06-workflow\u002F24-data-provenance",{"title":684,"path":685,"stem":686},"Reproducibility and Reporting","\u002Fen\u002Fmicroeconometrics\u002F06-workflow\u002F25-reproducibility-reporting","en\u002Fmicroeconometrics\u002F06-workflow\u002F25-reproducibility-reporting",{"title":688,"path":689,"stem":690},"Paper and Evidence Audit","\u002Fen\u002Fmicroeconometrics\u002F06-workflow\u002F26-paper-audit","en\u002Fmicroeconometrics\u002F06-workflow\u002F26-paper-audit",{"title":692,"path":693,"stem":694,"children":695},"Appendix — Revision and Evidence Map","\u002Fen\u002Fmicroeconometrics\u002Fappendix","en\u002Fmicroeconometrics\u002Fappendix\u002Findex",[696,697,701,705],{"title":692,"path":693,"stem":694},{"title":698,"path":699,"stem":700},"Formula and Design Map","\u002Fen\u002Fmicroeconometrics\u002Fappendix\u002F27-formula-design-map","en\u002Fmicroeconometrics\u002Fappendix\u002F27-formula-design-map",{"title":702,"path":703,"stem":704},"Ten Worked Microeconometric Pitfalls","\u002Fen\u002Fmicroeconometrics\u002Fappendix\u002F28-worked-pitfalls","en\u002Fmicroeconometrics\u002Fappendix\u002F28-worked-pitfalls",{"title":706,"path":707,"stem":708},"Reading and Software Map","\u002Fen\u002Fmicroeconometrics\u002Fappendix\u002F29-reading-software-map","en\u002Fmicroeconometrics\u002Fappendix\u002F29-reading-software-map",{"title":710,"path":711,"stem":712,"children":713},"Capstone — Should Northbridge Expand Pathways?","\u002Fen\u002Fmicroeconometrics\u002Fcapstone","en\u002Fmicroeconometrics\u002Fcapstone\u002Findex",[714],{"title":710,"path":711,"stem":712},{"title":716,"path":717,"stem":718,"children":719,"page":249},"Microeconomics","\u002Fen\u002Fmicroeconomics","en\u002Fmicroeconomics",[720,726,732,738,744,750,756,762,768,774,780,786,792],{"title":721,"path":722,"stem":723,"children":724},"Advanced Microeconomics — Course Guide","\u002Fen\u002Fmicroeconomics\u002F00-intro","en\u002Fmicroeconomics\u002F00-intro\u002Findex",[725],{"title":721,"path":722,"stem":723},{"title":727,"path":728,"stem":729,"children":730},"Module 1 — Choice, Duality, and Revealed Preference","\u002Fen\u002Fmicroeconomics\u002F01-fundations","en\u002Fmicroeconomics\u002F01-fundations\u002Findex",[731],{"title":727,"path":728,"stem":729},{"title":733,"path":734,"stem":735,"children":736},"Module 2 — Comparative Statics and Welfare Measurement","\u002Fen\u002Fmicroeconomics\u002F02-comparative-statics","en\u002Fmicroeconomics\u002F02-comparative-statics\u002Findex",[737],{"title":733,"path":734,"stem":735},{"title":739,"path":740,"stem":741,"children":742},"Module 3 — Choice under Risk and Insurance","\u002Fen\u002Fmicroeconomics\u002F03-uncertainty","en\u002Fmicroeconomics\u002F03-uncertainty\u002Findex",[743],{"title":739,"path":740,"stem":741},{"title":745,"path":746,"stem":747,"children":748},"Module 4 — General Equilibrium and Welfare","\u002Fen\u002Fmicroeconomics\u002F04-general-equilibrium","en\u002Fmicroeconomics\u002F04-general-equilibrium\u002Findex",[749],{"title":745,"path":746,"stem":747},{"title":751,"path":752,"stem":753,"children":754},"Module 5 — Static, Dynamic, and Repeated Games","\u002Fen\u002Fmicroeconomics\u002F05-game-theory","en\u002Fmicroeconomics\u002F05-game-theory\u002Findex",[755],{"title":751,"path":752,"stem":753},{"title":757,"path":758,"stem":759,"children":760},"Module 6 — Oligopoly, Entry, and Algorithmic Pricing","\u002Fen\u002Fmicroeconomics\u002F06-oligopoly","en\u002Fmicroeconomics\u002F06-oligopoly\u002Findex",[761],{"title":757,"path":758,"stem":759},{"title":763,"path":764,"stem":765,"children":766},"Module 7 — Information Economics and Contracts","\u002Fen\u002Fmicroeconomics\u002F07-information-economics","en\u002Fmicroeconomics\u002F07-information-economics\u002Findex",[767],{"title":763,"path":764,"stem":765},{"title":769,"path":770,"stem":771,"children":772},"Module 8 — Mechanism Design and Auctions","\u002Fen\u002Fmicroeconomics\u002F08-mechanism-design","en\u002Fmicroeconomics\u002F08-mechanism-design\u002Findex",[773],{"title":769,"path":770,"stem":771},{"title":775,"path":776,"stem":777,"children":778},"Module 9 — Behavioural and Experimental Microeconomics","\u002Fen\u002Fmicroeconomics\u002F09-behavioural-economics","en\u002Fmicroeconomics\u002F09-behavioural-economics\u002Findex",[779],{"title":775,"path":776,"stem":777},{"title":781,"path":782,"stem":783,"children":784},"Module 10 — Externalities, Public Goods, and Collective Action","\u002Fen\u002Fmicroeconomics\u002F10-externalities-public-goods","en\u002Fmicroeconomics\u002F10-externalities-public-goods\u002Findex",[785],{"title":781,"path":782,"stem":783},{"title":787,"path":788,"stem":789,"children":790},"Module 11 — Matching and Market Design","\u002Fen\u002Fmicroeconomics\u002F11-market-design","en\u002Fmicroeconomics\u002F11-market-design\u002Findex",[791],{"title":787,"path":788,"stem":789},{"title":793,"path":794,"stem":795,"children":796},"Module 12 — Integrated Microeconomic Design Studio","\u002Fen\u002Fmicroeconomics\u002F12-review","en\u002Fmicroeconomics\u002F12-review\u002Findex",[797],{"title":793,"path":794,"stem":795},{"title":799,"path":800,"stem":801,"children":802},"Playground","\u002Fen\u002Fplayground","en\u002Fplayground\u002Findex",[803,804,808,812,816,820],{"title":799,"path":800,"stem":801},{"title":805,"path":806,"stem":807},"Typst Plugin Playground","\u002Fen\u002Fplayground\u002F01-typstex","en\u002Fplayground\u002F01-typstex",{"title":809,"path":810,"stem":811},"Citation Plugin Test","\u002Fen\u002Fplayground\u002F02-citation","en\u002Fplayground\u002F02-citation",{"title":813,"path":814,"stem":815},"Pyodide Playground","\u002Fen\u002Fplayground\u002F03-pyodide","en\u002Fplayground\u002F03-pyodide",{"title":817,"path":818,"stem":819},"WebR Playground","\u002Fen\u002Fplayground\u002F04-webr","en\u002Fplayground\u002F04-webr",{"title":821,"path":822,"stem":823},"Chart.js Visualizations","\u002Fen\u002Fplayground\u002F05-chartjs","en\u002Fplayground\u002F05-chartjs",{"title":825,"path":826,"stem":827,"children":828,"page":249},"Statistics For Insurance","\u002Fen\u002Fstatistics-for-insurance","en\u002Fstatistics-for-insurance",[829,835,857,883,905,927,937],{"title":830,"path":831,"stem":832,"children":833},"Statistics for General Insurance","\u002Fen\u002Fstatistics-for-insurance\u002F01-intro","en\u002Fstatistics-for-insurance\u002F01-intro\u002Findex",[834],{"title":830,"path":831,"stem":832},{"title":836,"path":837,"stem":838,"children":839},"Claims Development and Reserving","\u002Fen\u002Fstatistics-for-insurance\u002F02-chain-ladder","en\u002Fstatistics-for-insurance\u002F02-chain-ladder\u002Findex",[840,841,845,849,853],{"title":836,"path":837,"stem":838},{"title":842,"path":843,"stem":844},"Basic Chain Ladder","\u002Fen\u002Fstatistics-for-insurance\u002F02-chain-ladder\u002F01-basic-chain","en\u002Fstatistics-for-insurance\u002F02-chain-ladder\u002F01-basic-chain",{"title":846,"path":847,"stem":848},"Frequency–Severity Reserving","\u002Fen\u002Fstatistics-for-insurance\u002F02-chain-ladder\u002F02-average-per-claim","en\u002Fstatistics-for-insurance\u002F02-chain-ladder\u002F02-average-per-claim",{"title":850,"path":851,"stem":852},"Bornhuetter–Ferguson Method","\u002Fen\u002Fstatistics-for-insurance\u002F02-chain-ladder\u002F03-b-f-method","en\u002Fstatistics-for-insurance\u002F02-chain-ladder\u002F03-b-f-method",{"title":854,"path":855,"stem":856},"Uncertainty and Diagnostics","\u002Fen\u002Fstatistics-for-insurance\u002F02-chain-ladder\u002F04-uncertainty-diagnostics","en\u002Fstatistics-for-insurance\u002F02-chain-ladder\u002F04-uncertainty-diagnostics",{"title":858,"path":859,"stem":860,"children":861},"Frequency and Severity Models","\u002Fen\u002Fstatistics-for-insurance\u002F03-common-dist","en\u002Fstatistics-for-insurance\u002F03-common-dist\u002Findex",[862,863,867,871,875,879],{"title":858,"path":859,"stem":860},{"title":864,"path":865,"stem":866},"Core Severity Models","\u002Fen\u002Fstatistics-for-insurance\u002F03-common-dist\u002F01-loss-dist","en\u002Fstatistics-for-insurance\u002F03-common-dist\u002F01-loss-dist",{"title":868,"path":869,"stem":870},"Tail Models and Extreme Values","\u002Fen\u002Fstatistics-for-insurance\u002F03-common-dist\u002F02-more-dist","en\u002Fstatistics-for-insurance\u002F03-common-dist\u002F02-more-dist",{"title":872,"path":873,"stem":874},"Claim Count Models","\u002Fen\u002Fstatistics-for-insurance\u002F03-common-dist\u002F03-case-dist","en\u002Fstatistics-for-insurance\u002F03-common-dist\u002F03-case-dist",{"title":876,"path":877,"stem":878},"Fitting and Validating Loss Models","\u002Fen\u002Fstatistics-for-insurance\u002F03-common-dist\u002F04-fit-dist","en\u002Fstatistics-for-insurance\u002F03-common-dist\u002F04-fit-dist",{"title":880,"path":881,"stem":882},"Mixtures and Heterogeneity","\u002Fen\u002Fstatistics-for-insurance\u002F03-common-dist\u002F05-mix-dist","en\u002Fstatistics-for-insurance\u002F03-common-dist\u002F05-mix-dist",{"title":884,"path":885,"stem":886,"children":887},"Reinsurance as a Loss Transformation","\u002Fen\u002Fstatistics-for-insurance\u002F04-reinsurance","en\u002Fstatistics-for-insurance\u002F04-reinsurance\u002Findex",[888,889,893,897,901],{"title":884,"path":885,"stem":886},{"title":890,"path":891,"stem":892},"Proportional Reinsurance","\u002Fen\u002Fstatistics-for-insurance\u002F04-reinsurance\u002F01-proportional","en\u002Fstatistics-for-insurance\u002F04-reinsurance\u002F01-proportional",{"title":894,"path":895,"stem":896},"Excess-of-Loss Reinsurance","\u002Fen\u002Fstatistics-for-insurance\u002F04-reinsurance\u002F02-excess","en\u002Fstatistics-for-insurance\u002F04-reinsurance\u002F02-excess",{"title":898,"path":899,"stem":900},"Inflation and Layer Erosion","\u002Fen\u002Fstatistics-for-insurance\u002F04-reinsurance\u002F03-inflation","en\u002Fstatistics-for-insurance\u002F04-reinsurance\u002F03-inflation",{"title":902,"path":903,"stem":904},"Reinsurance Decision Lab","\u002Fen\u002Fstatistics-for-insurance\u002F04-reinsurance\u002F04-examples","en\u002Fstatistics-for-insurance\u002F04-reinsurance\u002F04-examples",{"title":906,"path":907,"stem":908,"children":909},"Aggregate Risk and Capital","\u002Fen\u002Fstatistics-for-insurance\u002F05-risk-theory","en\u002Fstatistics-for-insurance\u002F05-risk-theory\u002Findex",[910,911,915,919,923],{"title":906,"path":907,"stem":908},{"title":912,"path":913,"stem":914},"Collective Risk Model","\u002Fen\u002Fstatistics-for-insurance\u002F05-risk-theory\u002F01-collective","en\u002Fstatistics-for-insurance\u002F05-risk-theory\u002F01-collective",{"title":916,"path":917,"stem":918},"Individual Risk Model","\u002Fen\u002Fstatistics-for-insurance\u002F05-risk-theory\u002F02-individual","en\u002Fstatistics-for-insurance\u002F05-risk-theory\u002F02-individual",{"title":920,"path":921,"stem":922},"Aggregate Risk Computation Lab","\u002Fen\u002Fstatistics-for-insurance\u002F05-risk-theory\u002F03-examples","en\u002Fstatistics-for-insurance\u002F05-risk-theory\u002F03-examples",{"title":924,"path":925,"stem":926},"Tail Risk, Dependence, and Capital","\u002Fen\u002Fstatistics-for-insurance\u002F05-risk-theory\u002F04-tail-capital","en\u002Fstatistics-for-insurance\u002F05-risk-theory\u002F04-tail-capital",{"title":928,"path":929,"stem":930,"children":931},"Surplus and Ruin Theory","\u002Fen\u002Fstatistics-for-insurance\u002F06-ruin-theory","en\u002Fstatistics-for-insurance\u002F06-ruin-theory\u002Findex",[932,933],{"title":928,"path":929,"stem":930},{"title":934,"path":935,"stem":936},"Finite-Time Ruin Simulation","\u002Fen\u002Fstatistics-for-insurance\u002F06-ruin-theory\u002F01-finite-time-simulation","en\u002Fstatistics-for-insurance\u002F06-ruin-theory\u002F01-finite-time-simulation",{"title":938,"path":939,"stem":940,"children":941},"Portfolio Risk Capstone","\u002Fen\u002Fstatistics-for-insurance\u002F07-capstone","en\u002Fstatistics-for-insurance\u002F07-capstone\u002Findex",[942],{"title":938,"path":939,"stem":940},{"title":944,"path":945,"stem":946,"children":947,"page":249},"Time Series","\u002Fen\u002Ftime-series","en\u002Ftime-series",[948,958,964,970,976,982,988,994,1016],{"title":949,"path":950,"stem":951,"children":952},"Classical Time Series — Course Guide","\u002Fen\u002Ftime-series\u002F00-intro","en\u002Ftime-series\u002F00-intro\u002Findex",[953,954],{"title":949,"path":950,"stem":951},{"title":955,"path":956,"stem":957},"Preparation — Stationarity in 30 Minutes","\u002Fen\u002Ftime-series\u002F00-intro\u002F01-stationary","en\u002Ftime-series\u002F00-intro\u002F01-stationary",{"title":959,"path":960,"stem":961,"children":962},"Module 1 — Processes, Dependence, and Stationarity","\u002Fen\u002Ftime-series\u002F01-stochastic-process","en\u002Ftime-series\u002F01-stochastic-process\u002Findex",[963],{"title":959,"path":960,"stem":961},{"title":965,"path":966,"stem":967,"children":968},"Module 2 — ARMA, ARIMA, and Model Identification","\u002Fen\u002Ftime-series\u002F02-arma","en\u002Ftime-series\u002F02-arma\u002Findex",[969],{"title":965,"path":966,"stem":967},{"title":971,"path":972,"stem":973,"children":974},"Module 3 — Linear Prediction and State-Space Recursions","\u002Fen\u002Ftime-series\u002F03-prediction","en\u002Ftime-series\u002F03-prediction\u002Findex",[975],{"title":971,"path":972,"stem":973},{"title":977,"path":978,"stem":979,"children":980},"Module 4 — Estimation, Likelihood, and Inference","\u002Fen\u002Ftime-series\u002F04-estimation","en\u002Ftime-series\u002F04-estimation\u002Findex",[981],{"title":977,"path":978,"stem":979},{"title":983,"path":984,"stem":985,"children":986},"Module 5 — Systems, Seasonality, and Cointegration","\u002Fen\u002Ftime-series\u002F05-multi-ar","en\u002Ftime-series\u002F05-multi-ar\u002Findex",[987],{"title":983,"path":984,"stem":985},{"title":989,"path":990,"stem":991,"children":992},"Module 6 — Spectral Analysis, Cycles, and Filters","\u002Fen\u002Ftime-series\u002F06-spectral-analysis","en\u002Ftime-series\u002F06-spectral-analysis\u002Findex",[993],{"title":989,"path":990,"stem":991},{"title":995,"path":996,"stem":997,"children":998},"R Matrix Laboratory","\u002Fen\u002Ftime-series\u002F07-r-implementation","en\u002Ftime-series\u002F07-r-implementation\u002Findex",[999,1000,1004,1008,1012],{"title":995,"path":996,"stem":997},{"title":1001,"path":1002,"stem":1003},"R Matrix Lab 1 — Covariance Geometry","\u002Fen\u002Ftime-series\u002F07-r-implementation\u002F01-covariance-matrices","en\u002Ftime-series\u002F07-r-implementation\u002F01-covariance-matrices",{"title":1005,"path":1006,"stem":1007},"R Matrix Lab 2 — AR Recursions and Yule–Walker Equations","\u002Fen\u002Ftime-series\u002F07-r-implementation\u002F02-ar-recursions","en\u002Ftime-series\u002F07-r-implementation\u002F02-ar-recursions",{"title":1009,"path":1010,"stem":1011},"R Matrix Lab 3 — Prediction and Gaussian Likelihood","\u002Fen\u002Ftime-series\u002F07-r-implementation\u002F03-prediction-likelihood","en\u002Ftime-series\u002F07-r-implementation\u002F03-prediction-likelihood",{"title":1013,"path":1014,"stem":1015},"R Matrix Lab 4 — State Space and Kalman Filtering","\u002Fen\u002Ftime-series\u002F07-r-implementation\u002F04-state-space","en\u002Ftime-series\u002F07-r-implementation\u002F04-state-space",{"title":1017,"path":1018,"stem":1019,"children":1020},"Optional Python Appendix — Empirical Forecasting","\u002Fen\u002Ftime-series\u002F08-python-implementation","en\u002Ftime-series\u002F08-python-implementation\u002Findex",[1021,1022,1026,1030,1034],{"title":1017,"path":1018,"stem":1019},{"title":1023,"path":1024,"stem":1025},"Optional Python Lab 1 — Explore Before Modeling","\u002Fen\u002Ftime-series\u002F08-python-implementation\u002F01-exploration","en\u002Ftime-series\u002F08-python-implementation\u002F01-exploration",{"title":1027,"path":1028,"stem":1029},"Optional Python Lab 2 — Diagnose Stationarity","\u002Fen\u002Ftime-series\u002F08-python-implementation\u002F02-stationarity","en\u002Ftime-series\u002F08-python-implementation\u002F02-stationarity",{"title":1031,"path":1032,"stem":1033},"Optional Python Lab 3 — Fit and Audit ARMA Errors","\u002Fen\u002Ftime-series\u002F08-python-implementation\u002F03-arma-fitting","en\u002Ftime-series\u002F08-python-implementation\u002F03-arma-fitting",{"title":1035,"path":1036,"stem":1037},"Optional Python Lab 4 — Forecast, Backtest, and Monitor","\u002Fen\u002Ftime-series\u002F08-python-implementation\u002F04-forecasting","en\u002Ftime-series\u002F08-python-implementation\u002F04-forecasting",{"title":1039,"path":1040,"stem":1041,"children":1042},"Zh","\u002Fzh","zh",[1043,1045,1063,1247,1323,1365,1421,1467,1543,1625,1633,1731],{"title":10,"path":1040,"stem":1044},"zh\u002Findex",{"title":1046,"path":1047,"stem":1048,"children":1049},"学术写作与文献综述","\u002Fzh\u002Facademic-writing","zh\u002Facademic-writing\u002Findex",[1050,1051,1055,1059],{"title":1046,"path":1047,"stem":1048},{"title":1052,"path":1053,"stem":1054},"4. 文献综述的构建与写作","\u002Fzh\u002Facademic-writing\u002F04-writing-the-literature-review","zh\u002Facademic-writing\u002F04-writing-the-literature-review",{"title":1056,"path":1057,"stem":1058},"8. 文献综述清单与模板","\u002Fzh\u002Facademic-writing\u002F08-literature-review-checklist-and-template","zh\u002Facademic-writing\u002F08-literature-review-checklist-and-template",{"title":1060,"path":1061,"stem":1062},"10. 从分块结构到问题链：文献综述示例","\u002Fzh\u002Facademic-writing\u002F10-从分块结构到问题链-文献综述示例","zh\u002Facademic-writing\u002F10-从分块结构到问题链-文献综述示例",{"title":59,"path":1064,"stem":1065,"children":1066,"page":249},"\u002Fzh\u002Faccounting","zh\u002Faccounting",[1067,1073,1087,1191],{"title":1068,"path":1069,"stem":1070,"children":1071},"会计学学习路线图","\u002Fzh\u002Faccounting\u002F00-index","zh\u002Faccounting\u002F00-index",[1072],{"title":1068,"path":1069,"stem":1070},{"title":1074,"path":1075,"stem":1076,"children":1077},"附录","\u002Fzh\u002Faccounting\u002Fappendix","zh\u002Faccounting\u002Fappendix\u002Findex",[1078,1079,1083],{"title":1074,"path":1075,"stem":1076},{"title":1080,"path":1081,"stem":1082},"综合示例与常见陷阱","\u002Fzh\u002Faccounting\u002Fappendix\u002F24-examples-pitfalls","zh\u002Faccounting\u002Fappendix\u002F24-examples-pitfalls",{"title":1084,"path":1085,"stem":1086},"会计术语速查表","\u002Fzh\u002Faccounting\u002Fappendix\u002F26-glossary","zh\u002Faccounting\u002Fappendix\u002F26-glossary",{"title":1088,"path":1089,"stem":1090,"children":1091},"金融会计","\u002Fzh\u002Faccounting\u002Ffinancial-accounting","zh\u002Faccounting\u002Ffinancial-accounting\u002Findex",[1092,1093,1111,1125,1159,1173],{"title":1088,"path":1089,"stem":1090},{"title":1094,"path":1095,"stem":1096,"children":1097},"1. 基础","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F01-foundations","zh\u002Faccounting\u002Ffinancial-accounting\u002F01-foundations\u002Findex",[1098,1099,1103,1107],{"title":1094,"path":1095,"stem":1096},{"title":1100,"path":1101,"stem":1102},"会计信息目标与质量特征","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F01-foundations\u002F01-objectives-qualitative-characteristics","zh\u002Faccounting\u002Ffinancial-accounting\u002F01-foundations\u002F01-objectives-qualitative-characteristics",{"title":1104,"path":1105,"stem":1106},"会计等式与要素","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F01-foundations\u002F02-equation-elements","zh\u002Faccounting\u002Ffinancial-accounting\u002F01-foundations\u002F02-equation-elements",{"title":1108,"path":1109,"stem":1110},"记账基础与原则","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F01-foundations\u002F03-accounting-bases-principles","zh\u002Faccounting\u002Ffinancial-accounting\u002F01-foundations\u002F03-accounting-bases-principles",{"title":1112,"path":1113,"stem":1114,"children":1115},"2. 交易记录","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F02-recording-transactions","zh\u002Faccounting\u002Ffinancial-accounting\u002F02-recording-transactions\u002Findex",[1116,1117,1121],{"title":1112,"path":1113,"stem":1114},{"title":1118,"path":1119,"stem":1120},"复式记账与借贷规则","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F02-recording-transactions\u002F04-double-entry-dr-cr","zh\u002Faccounting\u002Ffinancial-accounting\u002F02-recording-transactions\u002F04-double-entry-dr-cr",{"title":1122,"path":1123,"stem":1124},"会计循环","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F02-recording-transactions\u002F05-accounting-cycle","zh\u002Faccounting\u002Ffinancial-accounting\u002F02-recording-transactions\u002F05-accounting-cycle",{"title":1126,"path":1127,"stem":1128,"children":1129},"3. 计量与调整","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments","zh\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002Findex",[1130,1131,1135,1139,1143,1147,1151,1155],{"title":1126,"path":1127,"stem":1128},{"title":1132,"path":1133,"stem":1134},"收入确认","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F07-revenue-recognition","zh\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F07-revenue-recognition",{"title":1136,"path":1137,"stem":1138},"存货","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F08-inventory","zh\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F08-inventory",{"title":1140,"path":1141,"stem":1142},"应收账款","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F09-receivables","zh\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F09-receivables",{"title":1144,"path":1145,"stem":1146},"固定资产","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F10-ppe","zh\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F10-ppe",{"title":1148,"path":1149,"stem":1150},"无形资产","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F11-intangibles","zh\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F11-intangibles",{"title":1152,"path":1153,"stem":1154},"租赁","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F12-leases","zh\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F12-leases",{"title":1156,"path":1157,"stem":1158},"所得税","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F13-income-tax","zh\u002Faccounting\u002Ffinancial-accounting\u002F03-measurement-adjustments\u002F13-income-tax",{"title":1160,"path":1161,"stem":1162,"children":1163},"4. 报表与现金","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F04-reporting-cash","zh\u002Faccounting\u002Ffinancial-accounting\u002F04-reporting-cash\u002Findex",[1164,1165,1169],{"title":1160,"path":1161,"stem":1162},{"title":1166,"path":1167,"stem":1168},"财务报表","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F04-reporting-cash\u002F06-financial-statements","zh\u002Faccounting\u002Ffinancial-accounting\u002F04-reporting-cash\u002F06-financial-statements",{"title":1170,"path":1171,"stem":1172},"现金控制","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F04-reporting-cash\u002F14-cash-control","zh\u002Faccounting\u002Ffinancial-accounting\u002F04-reporting-cash\u002F14-cash-control",{"title":1174,"path":1175,"stem":1176,"children":1177},"5. 分析与比较","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F05-analysis-comparison","zh\u002Faccounting\u002Ffinancial-accounting\u002F05-analysis-comparison\u002Findex",[1178,1179,1183,1187],{"title":1174,"path":1175,"stem":1176},{"title":1180,"path":1181,"stem":1182},"财务比率分析","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F05-analysis-comparison\u002F15-ratio-analysis","zh\u002Faccounting\u002Ffinancial-accounting\u002F05-analysis-comparison\u002F15-ratio-analysis",{"title":1184,"path":1185,"stem":1186},"IFRS 与 US GAAP 对比","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F05-analysis-comparison\u002F25-ifrs-gaap","zh\u002Faccounting\u002Ffinancial-accounting\u002F05-analysis-comparison\u002F25-ifrs-gaap",{"title":1188,"path":1189,"stem":1190},"2026 准则更新与报告案例","\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F05-analysis-comparison\u002F27-current-standards-2026","zh\u002Faccounting\u002Ffinancial-accounting\u002F05-analysis-comparison\u002F27-current-standards-2026",{"title":1192,"path":1193,"stem":1194,"children":1195},"管理会计","\u002Fzh\u002Faccounting\u002Fmanagement-accounting","zh\u002Faccounting\u002Fmanagement-accounting\u002Findex",[1196,1197,1215,1233],{"title":1192,"path":1193,"stem":1194},{"title":1198,"path":1199,"stem":1200,"children":1201},"1. 成本基础","\u002Fzh\u002Faccounting\u002Fmanagement-accounting\u002F01-cost-foundations","zh\u002Faccounting\u002Fmanagement-accounting\u002F01-cost-foundations\u002Findex",[1202,1203,1207,1211],{"title":1198,"path":1199,"stem":1200},{"title":1204,"path":1205,"stem":1206},"成本概念","\u002Fzh\u002Faccounting\u002Fmanagement-accounting\u002F01-cost-foundations\u002F16-cost-concepts","zh\u002Faccounting\u002Fmanagement-accounting\u002F01-cost-foundations\u002F16-cost-concepts",{"title":1208,"path":1209,"stem":1210},"成本核算系统","\u002Fzh\u002Faccounting\u002Fmanagement-accounting\u002F01-cost-foundations\u002F17-costing-systems","zh\u002Faccounting\u002Fmanagement-accounting\u002F01-cost-foundations\u002F17-costing-systems",{"title":1212,"path":1213,"stem":1214},"变动成本法 vs. 吸收成本法","\u002Fzh\u002Faccounting\u002Fmanagement-accounting\u002F01-cost-foundations\u002F19-variable-vs-absorption","zh\u002Faccounting\u002Fmanagement-accounting\u002F01-cost-foundations\u002F19-variable-vs-absorption",{"title":1216,"path":1217,"stem":1218,"children":1219},"2. 计划与控制","\u002Fzh\u002Faccounting\u002Fmanagement-accounting\u002F02-planning-control","zh\u002Faccounting\u002Fmanagement-accounting\u002F02-planning-control\u002Findex",[1220,1221,1225,1229],{"title":1216,"path":1217,"stem":1218},{"title":1222,"path":1223,"stem":1224},"本量利分析","\u002Fzh\u002Faccounting\u002Fmanagement-accounting\u002F02-planning-control\u002F18-cvp-analysis","zh\u002Faccounting\u002Fmanagement-accounting\u002F02-planning-control\u002F18-cvp-analysis",{"title":1226,"path":1227,"stem":1228},"预算与差异分析","\u002Fzh\u002Faccounting\u002Fmanagement-accounting\u002F02-planning-control\u002F20-budgeting-variances","zh\u002Faccounting\u002Fmanagement-accounting\u002F02-planning-control\u002F20-budgeting-variances",{"title":1230,"path":1231,"stem":1232},"绩效评价","\u002Fzh\u002Faccounting\u002Fmanagement-accounting\u002F02-planning-control\u002F21-performance-measurement","zh\u002Faccounting\u002Fmanagement-accounting\u002F02-planning-control\u002F21-performance-measurement",{"title":1234,"path":1235,"stem":1236,"children":1237},"3. 决策与投资","\u002Fzh\u002Faccounting\u002Fmanagement-accounting\u002F03-decisions-investment","zh\u002Faccounting\u002Fmanagement-accounting\u002F03-decisions-investment\u002Findex",[1238,1239,1243],{"title":1234,"path":1235,"stem":1236},{"title":1240,"path":1241,"stem":1242},"短期决策","\u002Fzh\u002Faccounting\u002Fmanagement-accounting\u002F03-decisions-investment\u002F22-short-term-decisions","zh\u002Faccounting\u002Fmanagement-accounting\u002F03-decisions-investment\u002F22-short-term-decisions",{"title":1244,"path":1245,"stem":1246},"资本预算","\u002Fzh\u002Faccounting\u002Fmanagement-accounting\u002F03-decisions-investment\u002F23-capital-budgeting","zh\u002Faccounting\u002Fmanagement-accounting\u002F03-decisions-investment\u002F23-capital-budgeting",{"title":1248,"path":1249,"stem":1250,"children":1251},"资产定价理论","\u002Fzh\u002Fasset-pricing","zh\u002Fasset-pricing\u002Findex",[1252,1253,1259,1265,1271,1277,1283,1289,1295,1301,1307,1313,1319],{"title":1248,"path":1249,"stem":1250},{"title":1254,"path":1255,"stem":1256,"children":1257},"第一章：引言与基础","\u002Fzh\u002Fasset-pricing\u002F01-intro","zh\u002Fasset-pricing\u002F01-intro\u002Findex",[1258],{"title":1254,"path":1255,"stem":1256},{"title":1260,"path":1261,"stem":1262,"children":1263},"第二章：效用理论与风险偏好","\u002Fzh\u002Fasset-pricing\u002F02-utility","zh\u002Fasset-pricing\u002F02-utility\u002Findex",[1264],{"title":1260,"path":1261,"stem":1262},{"title":1266,"path":1267,"stem":1268,"children":1269},"第三章：均值-方差分析","\u002Fzh\u002Fasset-pricing\u002F03-mean-variance","zh\u002Fasset-pricing\u002F03-mean-variance\u002Findex",[1270],{"title":1266,"path":1267,"stem":1268},{"title":1272,"path":1273,"stem":1274,"children":1275},"第四章：资本资产定价模型(CAPM)","\u002Fzh\u002Fasset-pricing\u002F04-capm","zh\u002Fasset-pricing\u002F04-capm\u002Findex",[1276],{"title":1272,"path":1273,"stem":1274},{"title":1278,"path":1279,"stem":1280,"children":1281},"第五章：因子模型","\u002Fzh\u002Fasset-pricing\u002F05-factor-models","zh\u002Fasset-pricing\u002F05-factor-models\u002Findex",[1282],{"title":1278,"path":1279,"stem":1280},{"title":1284,"path":1285,"stem":1286,"children":1287},"第六章：跨期资产定价","\u002Fzh\u002Fasset-pricing\u002F06-intertemporal","zh\u002Fasset-pricing\u002F06-intertemporal\u002Findex",[1288],{"title":1284,"path":1285,"stem":1286},{"title":1290,"path":1291,"stem":1292,"children":1293},"第七章：期权定价理论","\u002Fzh\u002Fasset-pricing\u002F07-options","zh\u002Fasset-pricing\u002F07-options\u002Findex",[1294],{"title":1290,"path":1291,"stem":1292},{"title":1296,"path":1297,"stem":1298,"children":1299},"第八章：固定收益证券","\u002Fzh\u002Fasset-pricing\u002F08-fixed-income","zh\u002Fasset-pricing\u002F08-fixed-income\u002Findex",[1300],{"title":1296,"path":1297,"stem":1298},{"title":1302,"path":1303,"stem":1304,"children":1305},"第九章：市场有效性与异象","\u002Fzh\u002Fasset-pricing\u002F09-efficiency","zh\u002Fasset-pricing\u002F09-efficiency\u002Findex",[1306],{"title":1302,"path":1303,"stem":1304},{"title":1308,"path":1309,"stem":1310,"children":1311},"第十章：数值方法与实证应用","\u002Fzh\u002Fasset-pricing\u002F10-empirical","zh\u002Fasset-pricing\u002F10-empirical\u002Findex",[1312],{"title":1308,"path":1309,"stem":1310},{"title":1314,"path":1315,"stem":1316,"children":1317},"第十一章：资产定价浏览器交互实验","\u002Fzh\u002Fasset-pricing\u002F11-interactive-labs","zh\u002Fasset-pricing\u002F11-interactive-labs\u002Findex",[1318],{"title":1314,"path":1315,"stem":1316},{"title":1320,"path":1321,"stem":1322},"第十二章：前沿文献与现代资产定价案例（2023—2026）","\u002Fzh\u002Fasset-pricing\u002F12-frontier-literature-2026","zh\u002Fasset-pricing\u002F12-frontier-literature-2026",{"title":1324,"path":1325,"stem":1326,"children":1327},"计量经济学","\u002Fzh\u002Feconometrics","zh\u002Feconometrics\u002Findex",[1328,1329,1333,1337,1341,1345,1349,1353,1357,1361],{"title":1324,"path":1325,"stem":1326},{"title":1330,"path":1331,"stem":1332},"第一章：数据、概率与回归对象","\u002Fzh\u002Feconometrics\u002F01-data-and-regression","zh\u002Feconometrics\u002F01-data-and-regression",{"title":1334,"path":1335,"stem":1336},"第二章：OLS、矩阵与几何解释","\u002Fzh\u002Feconometrics\u002F02-ols-and-geometry","zh\u002Feconometrics\u002F02-ols-and-geometry",{"title":1338,"path":1339,"stem":1340},"第三章：统计推断与稳健标准误","\u002Fzh\u002Feconometrics\u002F03-inference-and-robustness","zh\u002Feconometrics\u002F03-inference-and-robustness",{"title":1342,"path":1343,"stem":1344},"第四章：内生性、工具变量与两阶段最小二乘","\u002Fzh\u002Feconometrics\u002F04-endogeneity-and-iv","zh\u002Feconometrics\u002F04-endogeneity-and-iv",{"title":1346,"path":1347,"stem":1348},"第五章：面板数据与时间序列","\u002Fzh\u002Feconometrics\u002F05-panel-and-time-series","zh\u002Feconometrics\u002F05-panel-and-time-series",{"title":1350,"path":1351,"stem":1352},"第六章：估计方法与因果设计的共同基础","\u002Fzh\u002Feconometrics\u002F06-estimation-and-causal-design","zh\u002Feconometrics\u002F06-estimation-and-causal-design",{"title":1354,"path":1355,"stem":1356},"第七章：可重复计量实证项目","\u002Fzh\u002Feconometrics\u002F07-reproducible-project","zh\u002Feconometrics\u002F07-reproducible-project",{"title":1358,"path":1359,"stem":1360},"第八章：计量经济学浏览器回归实验","\u002Fzh\u002Feconometrics\u002F08-interactive-regression-labs","zh\u002Feconometrics\u002F08-interactive-regression-labs",{"title":1362,"path":1363,"stem":1364},"第九章：前沿文献与现代计量案例（2023—2026）","\u002Fzh\u002Feconometrics\u002F09-frontier-literature-2026","zh\u002Feconometrics\u002F09-frontier-literature-2026",{"title":478,"path":1366,"stem":1367,"children":1368,"page":249},"\u002Fzh\u002Fintro-to-economics","zh\u002Fintro-to-economics",[1369,1373,1377,1381,1385,1389,1393,1397,1401,1405,1409,1413,1417],{"title":1370,"path":1371,"stem":1372},"经济学导论 (微观与宏观)","\u002Fzh\u002Fintro-to-economics\u002F00-intro","zh\u002Fintro-to-economics\u002F00-intro",{"title":1374,"path":1375,"stem":1376},"第1章：经济学基础原理","\u002Fzh\u002Fintro-to-economics\u002F01-foundations","zh\u002Fintro-to-economics\u002F01-foundations",{"title":1378,"path":1379,"stem":1380},"第2章：需求与供给","\u002Fzh\u002Fintro-to-economics\u002F02-demand-and-supply","zh\u002Fintro-to-economics\u002F02-demand-and-supply",{"title":1382,"path":1383,"stem":1384},"第3章：弹性","\u002Fzh\u002Fintro-to-economics\u002F03-elasticity","zh\u002Fintro-to-economics\u002F03-elasticity",{"title":1386,"path":1387,"stem":1388},"第4章：市场结构","\u002Fzh\u002Fintro-to-economics\u002F04-market-structures","zh\u002Fintro-to-economics\u002F04-market-structures",{"title":1390,"path":1391,"stem":1392},"第5章：GDP 与财富","\u002Fzh\u002Fintro-to-economics\u002F05-gdp-and-wealth","zh\u002Fintro-to-economics\u002F05-gdp-and-wealth",{"title":1394,"path":1395,"stem":1396},"第6章：通货膨胀与失业","\u002Fzh\u002Fintro-to-economics\u002F06-inflation-and-unemployment","zh\u002Fintro-to-economics\u002F06-inflation-and-unemployment",{"title":1398,"path":1399,"stem":1400},"第7章：经济增长","\u002Fzh\u002Fintro-to-economics\u002F07-economic-growth","zh\u002Fintro-to-economics\u002F07-economic-growth",{"title":1402,"path":1403,"stem":1404},"第8章：货币与银行","\u002Fzh\u002Fintro-to-economics\u002F08-money-and-banking","zh\u002Fintro-to-economics\u002F08-money-and-banking",{"title":1406,"path":1407,"stem":1408},"第9章：货币政策与 AD-AS 模型","\u002Fzh\u002Fintro-to-economics\u002F09-monetary-policy-and-ad-as","zh\u002Fintro-to-economics\u002F09-monetary-policy-and-ad-as",{"title":1410,"path":1411,"stem":1412},"第10章：财政政策","\u002Fzh\u002Fintro-to-economics\u002F10-fiscal-policy","zh\u002Fintro-to-economics\u002F10-fiscal-policy",{"title":1414,"path":1415,"stem":1416},"第11章：开放经济与汇率","\u002Fzh\u002Fintro-to-economics\u002F11-open-economy-and-exchange-rates","zh\u002Fintro-to-economics\u002F11-open-economy-and-exchange-rates",{"title":1418,"path":1419,"stem":1420},"第12章：综合复习与案例分析","\u002Fzh\u002Fintro-to-economics\u002F12-review-and-case-studies","zh\u002Fintro-to-economics\u002F12-review-and-case-studies",{"title":1422,"path":1423,"stem":1424,"children":1425},"宏观经济学","\u002Fzh\u002Fmacroeconomics","zh\u002Fmacroeconomics\u002Findex",[1426,1427,1431,1435,1439,1443,1447,1451,1455,1459,1463],{"title":1422,"path":1423,"stem":1424},{"title":1428,"path":1429,"stem":1430},"第一章：国民账户与宏观指标","\u002Fzh\u002Fmacroeconomics\u002F01-national-accounts","zh\u002Fmacroeconomics\u002F01-national-accounts",{"title":1432,"path":1433,"stem":1434},"第二章：消费、投资与凯恩斯交叉","\u002Fzh\u002Fmacroeconomics\u002F02-consumption-investment","zh\u002Fmacroeconomics\u002F02-consumption-investment",{"title":1436,"path":1437,"stem":1438},"第三章：货币、银行与货币政策","\u002Fzh\u002Fmacroeconomics\u002F03-money-and-monetary-policy","zh\u002Fmacroeconomics\u002F03-money-and-monetary-policy",{"title":1440,"path":1441,"stem":1442},"第四章：AD–AS、通货膨胀与失业","\u002Fzh\u002Fmacroeconomics\u002F04-ad-as-inflation-unemployment","zh\u002Fmacroeconomics\u002F04-ad-as-inflation-unemployment",{"title":1444,"path":1445,"stem":1446},"第五章：财政政策、债务与稳定化","\u002Fzh\u002Fmacroeconomics\u002F05-fiscal-policy-and-debt","zh\u002Fmacroeconomics\u002F05-fiscal-policy-and-debt",{"title":1448,"path":1449,"stem":1450},"第六章：经济增长、生产率与发展","\u002Fzh\u002Fmacroeconomics\u002F06-growth-productivity","zh\u002Fmacroeconomics\u002F06-growth-productivity",{"title":1452,"path":1453,"stem":1454},"第七章：开放经济、汇率与国际收支","\u002Fzh\u002Fmacroeconomics\u002F07-open-economy","zh\u002Fmacroeconomics\u002F07-open-economy",{"title":1456,"path":1457,"stem":1458},"第八章：宏观研究项目与政策分析","\u002Fzh\u002Fmacroeconomics\u002F08-macro-research-project","zh\u002Fmacroeconomics\u002F08-macro-research-project",{"title":1460,"path":1461,"stem":1462},"第九章：宏观经济学浏览器交互实验","\u002Fzh\u002Fmacroeconomics\u002F09-interactive-policy-labs","zh\u002Fmacroeconomics\u002F09-interactive-policy-labs",{"title":1464,"path":1465,"stem":1466},"第十章：前沿文献与当代宏观案例（2023—2026）","\u002Fzh\u002Fmacroeconomics\u002F10-frontier-literature-2026","zh\u002Fmacroeconomics\u002F10-frontier-literature-2026",{"title":1468,"path":1469,"stem":1470,"children":1471},"微观计量经济学","\u002Fzh\u002Fmicroeconometrics","zh\u002Fmicroeconometrics\u002Findex",[1472,1473,1479,1485,1491,1497,1503,1509,1515,1521,1527,1533,1539],{"title":1468,"path":1469,"stem":1470},{"title":1474,"path":1475,"stem":1476,"children":1477},"第一章：微观计量与因果推断导论","\u002Fzh\u002Fmicroeconometrics\u002F01-intro","zh\u002Fmicroeconometrics\u002F01-intro\u002Findex",[1478],{"title":1474,"path":1475,"stem":1476},{"title":1480,"path":1481,"stem":1482,"children":1483},"第二章：线性回归与 OLS","\u002Fzh\u002Fmicroeconometrics\u002F02-ols","zh\u002Fmicroeconometrics\u002F02-ols\u002Findex",[1484],{"title":1480,"path":1481,"stem":1482},{"title":1486,"path":1487,"stem":1488,"children":1489},"第三章：工具变量法","\u002Fzh\u002Fmicroeconometrics\u002F03-iv","zh\u002Fmicroeconometrics\u002F03-iv\u002Findex",[1490],{"title":1486,"path":1487,"stem":1488},{"title":1492,"path":1493,"stem":1494,"children":1495},"第四章：面板数据方法","\u002Fzh\u002Fmicroeconometrics\u002F04-panel","zh\u002Fmicroeconometrics\u002F04-panel\u002Findex",[1496],{"title":1492,"path":1493,"stem":1494},{"title":1498,"path":1499,"stem":1500,"children":1501},"第五章：双重差分法","\u002Fzh\u002Fmicroeconometrics\u002F05-did","zh\u002Fmicroeconometrics\u002F05-did\u002Findex",[1502],{"title":1498,"path":1499,"stem":1500},{"title":1504,"path":1505,"stem":1506,"children":1507},"第六章：断点回归设计","\u002Fzh\u002Fmicroeconometrics\u002F06-rdd","zh\u002Fmicroeconometrics\u002F06-rdd\u002Findex",[1508],{"title":1504,"path":1505,"stem":1506},{"title":1510,"path":1511,"stem":1512,"children":1513},"第七章：匹配、倾向得分与加权","\u002Fzh\u002Fmicroeconometrics\u002F07-matching","zh\u002Fmicroeconometrics\u002F07-matching\u002Findex",[1514],{"title":1510,"path":1511,"stem":1512},{"title":1516,"path":1517,"stem":1518,"children":1519},"第八章：离散选择模型","\u002Fzh\u002Fmicroeconometrics\u002F08-discrete-choice","zh\u002Fmicroeconometrics\u002F08-discrete-choice\u002Findex",[1520],{"title":1516,"path":1517,"stem":1518},{"title":1522,"path":1523,"stem":1524,"children":1525},"第九章：计数数据与受限因变量","\u002Fzh\u002Fmicroeconometrics\u002F09-count-limited","zh\u002Fmicroeconometrics\u002F09-count-limited\u002Findex",[1526],{"title":1522,"path":1523,"stem":1524},{"title":1528,"path":1529,"stem":1530,"children":1531},"第十章：合成控制法","\u002Fzh\u002Fmicroeconometrics\u002F10-synthetic-control","zh\u002Fmicroeconometrics\u002F10-synthetic-control\u002Findex",[1532],{"title":1528,"path":1529,"stem":1530},{"title":1534,"path":1535,"stem":1536,"children":1537},"第十一章：机器学习与因果推断","\u002Fzh\u002Fmicroeconometrics\u002F11-ml-causal","zh\u002Fmicroeconometrics\u002F11-ml-causal\u002Findex",[1538],{"title":1534,"path":1535,"stem":1536},{"title":1540,"path":1541,"stem":1542},"第十二章：前沿文献与现代微观案例（2024—2026）","\u002Fzh\u002Fmicroeconometrics\u002F12-frontier-literature-2026","zh\u002Fmicroeconometrics\u002F12-frontier-literature-2026",{"title":716,"path":1544,"stem":1545,"children":1546,"page":249},"\u002Fzh\u002Fmicroeconomics","zh\u002Fmicroeconomics",[1547,1553,1559,1565,1571,1577,1583,1589,1595,1601,1607,1613,1619],{"title":1548,"path":1549,"stem":1550,"children":1551},"微观经济学 III","\u002Fzh\u002Fmicroeconomics\u002F00-intro","zh\u002Fmicroeconomics\u002F00-intro\u002Findex",[1552],{"title":1548,"path":1549,"stem":1550},{"title":1554,"path":1555,"stem":1556,"children":1557},"消费者理论与分析基础","\u002Fzh\u002Fmicroeconomics\u002F01-fundations","zh\u002Fmicroeconomics\u002F01-fundations\u002Findex",[1558],{"title":1554,"path":1555,"stem":1556},{"title":1560,"path":1561,"stem":1562,"children":1563},"比较静态分析与福利测度","\u002Fzh\u002Fmicroeconomics\u002F02-comparative-statics","zh\u002Fmicroeconomics\u002F02-comparative-statics\u002Findex",[1564],{"title":1560,"path":1561,"stem":1562},{"title":1566,"path":1567,"stem":1568,"children":1569},"不确定性下的决策","\u002Fzh\u002Fmicroeconomics\u002F03-uncertainty","zh\u002Fmicroeconomics\u002F03-uncertainty\u002Findex",[1570],{"title":1566,"path":1567,"stem":1568},{"title":1572,"path":1573,"stem":1574,"children":1575},"一般均衡与福利经济学","\u002Fzh\u002Fmicroeconomics\u002F04-general-equilibrium","zh\u002Fmicroeconomics\u002F04-general-equilibrium\u002Findex",[1576],{"title":1572,"path":1573,"stem":1574},{"title":1578,"path":1579,"stem":1580,"children":1581},"博弈论：静态与动态博弈","\u002Fzh\u002Fmicroeconomics\u002F05-game-theory","zh\u002Fmicroeconomics\u002F05-game-theory\u002Findex",[1582],{"title":1578,"path":1579,"stem":1580},{"title":1584,"path":1585,"stem":1586,"children":1587},"寡头垄断与策略性市场行为","\u002Fzh\u002Fmicroeconomics\u002F06-oligopoly","zh\u002Fmicroeconomics\u002F06-oligopoly\u002Findex",[1588],{"title":1584,"path":1585,"stem":1586},{"title":1590,"path":1591,"stem":1592,"children":1593},"信息经济学：逆向选择与道德风险","\u002Fzh\u002Fmicroeconomics\u002F07-information-economics","zh\u002Fmicroeconomics\u002F07-information-economics\u002Findex",[1594],{"title":1590,"path":1591,"stem":1592},{"title":1596,"path":1597,"stem":1598,"children":1599},"机制设计与拍卖理论","\u002Fzh\u002Fmicroeconomics\u002F08-mechanism-design","zh\u002Fmicroeconomics\u002F08-mechanism-design\u002Findex",[1600],{"title":1596,"path":1597,"stem":1598},{"title":1602,"path":1603,"stem":1604,"children":1605},"行为与实验微观经济学","\u002Fzh\u002Fmicroeconomics\u002F09-behavioural-economics","zh\u002Fmicroeconomics\u002F09-behavioural-economics\u002Findex",[1606],{"title":1602,"path":1603,"stem":1604},{"title":1608,"path":1609,"stem":1610,"children":1611},"外部性、公共物品与机制","\u002Fzh\u002Fmicroeconomics\u002F10-externalities-public-goods","zh\u002Fmicroeconomics\u002F10-externalities-public-goods\u002Findex",[1612],{"title":1608,"path":1609,"stem":1610},{"title":1614,"path":1615,"stem":1616,"children":1617},"市场设计与匹配理论","\u002Fzh\u002Fmicroeconomics\u002F11-market-design","zh\u002Fmicroeconomics\u002F11-market-design\u002Findex",[1618],{"title":1614,"path":1615,"stem":1616},{"title":1620,"path":1621,"stem":1622,"children":1623},"第十二章：微观经济学：回顾与前沿应用","\u002Fzh\u002Fmicroeconomics\u002F12-review","zh\u002Fmicroeconomics\u002F12-review\u002Findex",[1624],{"title":1620,"path":1621,"stem":1622},{"title":799,"path":1626,"stem":1627,"children":1628,"page":249},"\u002Fzh\u002Fplayground","zh\u002Fplayground",[1629],{"title":1630,"path":1631,"stem":1632},"Chart.js 可视化","\u002Fzh\u002Fplayground\u002F05-chartjs","zh\u002Fplayground\u002F05-chartjs",{"title":1634,"path":1635,"stem":1636,"children":1637},"概率论与数理统计","\u002Fzh\u002Fprob-and-stats","zh\u002Fprob-and-stats\u002Findex",[1638,1639,1645,1680,1727],{"title":1634,"path":1635,"stem":1636},{"title":1640,"path":1641,"stem":1642,"children":1643},"第零章：概率统计的对象与学习方法","\u002Fzh\u002Fprob-and-stats\u002F00-intro","zh\u002Fprob-and-stats\u002F00-intro\u002Findex",[1644],{"title":1640,"path":1641,"stem":1642},{"title":1646,"path":1647,"stem":1648,"children":1649,"page":249},"01 Probability","\u002Fzh\u002Fprob-and-stats\u002F01-probability","zh\u002Fprob-and-stats\u002F01-probability",[1650,1656,1662,1668,1674],{"title":1651,"path":1652,"stem":1653,"children":1654},"第一章：概率论基础","\u002Fzh\u002Fprob-and-stats\u002F01-probability\u002F01-prob-theory","zh\u002Fprob-and-stats\u002F01-probability\u002F01-prob-theory\u002Findex",[1655],{"title":1651,"path":1652,"stem":1653},{"title":1657,"path":1658,"stem":1659,"children":1660},"第二章：随机变量与分布","\u002Fzh\u002Fprob-and-stats\u002F01-probability\u002F02-random-variables","zh\u002Fprob-and-stats\u002F01-probability\u002F02-random-variables\u002Findex",[1661],{"title":1657,"path":1658,"stem":1659},{"title":1663,"path":1664,"stem":1665,"children":1666},"第三章：期望、方差与条件矩","\u002Fzh\u002Fprob-and-stats\u002F01-probability\u002F03-moment","zh\u002Fprob-and-stats\u002F01-probability\u002F03-moment\u002Findex",[1667],{"title":1663,"path":1664,"stem":1665},{"title":1669,"path":1670,"stem":1671,"children":1672},"第四章：常见分布族与建模机制","\u002Fzh\u002Fprob-and-stats\u002F01-probability\u002F04-families","zh\u002Fprob-and-stats\u002F01-probability\u002F04-families\u002Findex",[1673],{"title":1669,"path":1670,"stem":1671},{"title":1675,"path":1676,"stem":1677,"children":1678},"第五章：收敛与渐近理论","\u002Fzh\u002Fprob-and-stats\u002F01-probability\u002F05-asymptotics","zh\u002Fprob-and-stats\u002F01-probability\u002F05-asymptotics\u002Findex",[1679],{"title":1675,"path":1676,"stem":1677},{"title":1681,"path":1682,"stem":1683,"children":1684,"page":249},"02 Statistics","\u002Fzh\u002Fprob-and-stats\u002F02-statistics","zh\u002Fprob-and-stats\u002F02-statistics",[1685,1691,1697,1703,1709,1715,1721],{"title":1686,"path":1687,"stem":1688,"children":1689},"第六章：抽样分布","\u002Fzh\u002Fprob-and-stats\u002F02-statistics\u002F01-sampling","zh\u002Fprob-and-stats\u002F02-statistics\u002F01-sampling\u002Findex",[1690],{"title":1686,"path":1687,"stem":1688},{"title":1692,"path":1693,"stem":1694,"children":1695},"第七章：区间估计","\u002Fzh\u002Fprob-and-stats\u002F02-statistics\u002F02-interval-estimation","zh\u002Fprob-and-stats\u002F02-statistics\u002F02-interval-estimation\u002Findex",[1696],{"title":1692,"path":1693,"stem":1694},{"title":1698,"path":1699,"stem":1700,"children":1701},"第八章：点估计理论","\u002Fzh\u002Fprob-and-stats\u002F02-statistics\u002F03-point-estimation","zh\u002Fprob-and-stats\u002F02-statistics\u002F03-point-estimation\u002Findex",[1702],{"title":1698,"path":1699,"stem":1700},{"title":1704,"path":1705,"stem":1706,"children":1707},"第九章：点估计方法","\u002Fzh\u002Fprob-and-stats\u002F02-statistics\u002F04-pe-method","zh\u002Fprob-and-stats\u002F02-statistics\u002F04-pe-method\u002Findex",[1708],{"title":1704,"path":1705,"stem":1706},{"title":1710,"path":1711,"stem":1712,"children":1713},"第十章：假设检验原理","\u002Fzh\u002Fprob-and-stats\u002F02-statistics\u002F05-hypothesis","zh\u002Fprob-and-stats\u002F02-statistics\u002F05-hypothesis\u002Findex",[1714],{"title":1710,"path":1711,"stem":1712},{"title":1716,"path":1717,"stem":1718,"children":1719},"第十一章：常用检验方法与选择","\u002Fzh\u002Fprob-and-stats\u002F02-statistics\u002F06-hypothesis-method","zh\u002Fprob-and-stats\u002F02-statistics\u002F06-hypothesis-method\u002Findex",[1720],{"title":1716,"path":1717,"stem":1718},{"title":1722,"path":1723,"stem":1724,"children":1725},"第十二章：Bootstrap 与重抽样","\u002Fzh\u002Fprob-and-stats\u002F02-statistics\u002F07-bootstrap","zh\u002Fprob-and-stats\u002F02-statistics\u002F07-bootstrap\u002Findex",[1726],{"title":1722,"path":1723,"stem":1724},{"title":1728,"path":1729,"stem":1730},"第十三章：前沿文献与现代统计案例（2023—2026）","\u002Fzh\u002Fprob-and-stats\u002F03-frontier-literature-2026","zh\u002Fprob-and-stats\u002F03-frontier-literature-2026",{"title":1732,"path":1733,"stem":1734,"children":1735,"page":249},"Quant","\u002Fzh\u002Fquant","zh\u002Fquant",[1736,1742,1746,1750,1754,1758,1762,1766,1770,1774,1778],{"title":1737,"path":1738,"stem":1739,"children":1740},"量化投资——从可检验信号到可执行组合","\u002Fzh\u002Fquant\u002F00-index","zh\u002Fquant\u002F00-index",[1741],{"title":1737,"path":1738,"stem":1739},{"title":1743,"path":1744,"stem":1745},"数据获取与预处理","\u002Fzh\u002Fquant\u002F01-research-data","zh\u002Fquant\u002F01-research-data",{"title":1747,"path":1748,"stem":1749},"因子与交易信号","\u002Fzh\u002Fquant\u002F02-factor-and-signals","zh\u002Fquant\u002F02-factor-and-signals",{"title":1751,"path":1752,"stem":1753},"策略建模与回测","\u002Fzh\u002Fquant\u002F03-modeling-and-backtest","zh\u002Fquant\u002F03-modeling-and-backtest",{"title":1755,"path":1756,"stem":1757},"组合构建与风险建模（资产定价视角）","\u002Fzh\u002Fquant\u002F04-portfolio-and-risk","zh\u002Fquant\u002F04-portfolio-and-risk",{"title":1759,"path":1760,"stem":1761},"执行策略与市场微结构概览","\u002Fzh\u002Fquant\u002F05-execution-and-microstructure","zh\u002Fquant\u002F05-execution-and-microstructure",{"title":1763,"path":1764,"stem":1765},"策略上线、监控与迭代","\u002Fzh\u002Fquant\u002F06-production-and-monitoring","zh\u002Fquant\u002F06-production-and-monitoring",{"title":1767,"path":1768,"stem":1769},"量化工程与工具链概览","\u002Fzh\u002Fquant\u002F07-engineering-stack","zh\u002Fquant\u002F07-engineering-stack",{"title":1771,"path":1772,"stem":1773},"计量方法与实证检验","\u002Fzh\u002Fquant\u002F08-econometric-methods","zh\u002Fquant\u002F08-econometric-methods",{"title":1775,"path":1776,"stem":1777},"案例研究：多因子股票 Alpha 策略全流程","\u002Fzh\u002Fquant\u002F09-case-study","zh\u002Fquant\u002F09-case-study",{"title":1779,"path":1780,"stem":1781},"量化投资文献与软件图谱","\u002Fzh\u002Fquant\u002F10-reading-software-map","zh\u002Fquant\u002F10-reading-software-map",{"path":187},{"id":1784,"title":1180,"body":1785,"description":186,"extension":3206,"features":3207,"hero":3207,"layout":3207,"locale":3207,"meta":3208,"navigation":3207,"path":1181,"published":3211,"seo":3212,"stem":1182,"__hash__":3213},"docs\u002Fzh\u002Faccounting\u002Ffinancial-accounting\u002F05-analysis-comparison\u002F15-ratio-analysis.md",{"type":1786,"value":1787,"toc":3163},"minimark",[1788,1793,1797,1810,1813,1817,1828,1831,1834,1837,1860,1864,1867,1871,1874,2055,2058,2062,2065,2132,2153,2157,2160,2165,2200,2204,2235,2239,2271,2275,2315,2319,2350,2354,2413,2417,2449,2454,2457,2471,2474,2494,2497,2511,2514,2518,2521,2525,2550,2554,2585,2589,2620,2624,2657,2660,2664,2667,2671,2708,2712,2762,2766,2802,2805,2809,2812,2816,2846,2850,2894,2898,2942,2946,2981,2985,3021,3025,3028,3034,3037,3041,3108,3111,3125,3128,3140,3155,3158],[1789,1790,1792],"h1",{"id":1791},"_210-财务比率分析ratio-analysis","2.10 财务比率分析（Ratio Analysis）",[1794,1795,1796],"h2",{"id":1796},"本章回答什么",[1798,1799,1800,1804,1807],"ul",{},[1801,1802,1803],"li",{},"哪些比率最常用来分析盈利、流动性和风险？",[1801,1805,1806],{},"为什么比率必须和历史、目标或同行比较才有意义？",[1801,1808,1809],{},"怎样从“算出一个数字”走到“写出可信的业务解释”？",[1794,1811,1812],{"id":1812},"学习目标",[1814,1815,1816],"p",{},"读完这一页后，你应该能够：",[1798,1818,1819,1822,1825],{},[1801,1820,1821],{},"按盈利能力、流动性、杠杆、营运效率和市场指标分类计算常用比率。",[1801,1823,1824],{},"用历史趋势、同行对比和会计政策附注解释比率变化。",[1801,1826,1827],{},"把 ROE、现金转换周期和偿债指标串起来，写出有证据的财务分析结论。",[1794,1829,1830],{"id":1830},"业务场景",[1814,1832,1833],{},"银行正在评估一家零售商的授信申请。利润表显示净利润增长，但存货周转变慢、应收账款天数上升、经营现金流偏弱。比率分析的任务不是机械算数字，而是把利润、资产占用、现金回收和债务风险放在同一张分析图里，判断增长是否健康。",[1794,1835,1836],{"id":1836},"在主线中的位置",[1798,1838,1839,1847,1854],{},[1801,1840,1841,1842,1846],{},"这一章属于 ",[1843,1844,1845],"strong",{},"金融会计 -> 分析与比较","。",[1801,1848,1849,1850,1846],{},"建议先读",[1851,1852,1170],"a",{"href":1853},"..\u002F04-reporting-cash\u002F14-cash-control",[1801,1855,1856,1857,1846],{},"读完后可以接着进入",[1851,1858,1184],{"href":1859},"25-ifrs-gaap",[1794,1861,1863],{"id":1862},"分析顺序先比较再归因","分析顺序：先比较，再归因",[1814,1865,1866],{},"财务比率分析是评估企业财务健康状况和经营绩效的重要工具。通过计算和比较不同财务比率，可以深入了解企业的盈利能力、偿债能力、运营效率和现金流状况。",[1794,1868,1870],{"id":1869},"_2101-总体分析方法overall-approach","2.10.1 总体分析方法（Overall Approach）",[1814,1872,1873],{},"进行有效的财务比率分析，需要遵循系统性的方法，而不仅仅是孤立地计算比率。",[1798,1875,1876,1940,1995,2018],{},[1801,1877,1878,1881,1882],{},[1843,1879,1880],{},"分析维度","：",[1798,1883,1884,1904,1922],{},[1801,1885,1886,1889,1890],{},[1843,1887,1888],{},"时间序列（Time-Series Analysis）","：将企业当前的比率与自身过去几个会计期间（如同比YoY\u002F环比趋势）的比率进行比较。\n",[1798,1891,1892,1898],{},[1801,1893,1894,1897],{},[1843,1895,1896],{},"解释","：通过观察比率随时间的变化趋势，可以发现企业经营状况的改善或恶化。",[1801,1899,1900,1903],{},[1843,1901,1902],{},"例子","：如果一家公司的毛利率连续三年下降，这可能表明其产品竞争力下降或成本控制出现问题。",[1801,1905,1906,1909,1910],{},[1843,1907,1908],{},"同行对比（Cross-Sectional Analysis）","：将企业当前的比率与同行业内其他竞争对手或行业平均水平进行比较。\n",[1798,1911,1912,1917],{},[1801,1913,1914,1916],{},[1843,1915,1896],{},"：有助于评估企业在行业中的相对地位和竞争力。",[1801,1918,1919,1921],{},[1843,1920,1902],{},"：如果一家零售企业的存货周转天数远高于行业平均水平，可能意味着其存货管理效率低下或产品滞销。",[1801,1923,1924,1927,1928],{},[1843,1925,1926],{},"目标水平（Target Level Analysis）","：将企业比率与预设的目标（如预算、历史最佳水平、管理层目标）进行比较。\n",[1798,1929,1930,1935],{},[1801,1931,1932,1934],{},[1843,1933,1896],{},"：评估企业是否达到了既定的经营目标。",[1801,1936,1937,1939],{},[1843,1938,1902],{},"：公司设定的净利率目标是15%，如果实际净利率只有10%，则需要分析原因并采取改进措施。",[1801,1941,1942,1881,1945],{},[1843,1943,1944],{},"归因框架（Attribution Framework）",[1798,1946,1947,1952,1990],{},[1801,1948,1949,1951],{},[1843,1950,1896],{},"：将财务比率的变化拆解为多个驱动因素，有助于更深入地理解变化背后的原因。",[1801,1953,1954,1957,1958],{},[1843,1955,1956],{},"拆解维度","：\n",[1798,1959,1960,1966,1972,1978,1984],{},[1801,1961,1962,1965],{},[1843,1963,1964],{},"规模（Sales\u002FGMV）","：销售额或商品交易总额的增长。",[1801,1967,1968,1971],{},[1843,1969,1970],{},"结构（Product\u002FChannel\u002FRegion）","：产品组合、销售渠道或区域市场的变化。",[1801,1973,1974,1977],{},[1843,1975,1976],{},"价格\u002F成本（Price\u002FCost）","：产品定价策略或成本控制水平。",[1801,1979,1980,1983],{},[1843,1981,1982],{},"效率（Turnover\u002FUtilization）","：资产周转率、资源利用率等。",[1801,1985,1986,1989],{},[1843,1987,1988],{},"杠杆（Capital Structure）","：资本结构（债务与权益的比例）的变化。",[1801,1991,1992,1994],{},[1843,1993,1902],{},"：一家公司的ROE（净资产收益率）上升。通过杜邦分析（见下文），可以将其归因于净利率的提升、资产周转率的加快或财务杠杆的增加。进一步分析，净利率的提升可能是由于产品提价或成本控制得当。",[1801,1996,1997,1881,2000],{},[1843,1998,1999],{},"交叉验证（Cross-Validation）",[1798,2001,2002,2007,2013],{},[1801,2003,2004,2006],{},[1843,2005,1896],{},"：不同财务报表和比率之间存在勾稽关系。分析时应将利润率的变化与现金流指标（如经营活动现金流量\u002F净利润比率CFO\u002FNI、现金转换周期CCC）以及营运资本（如应收账款、存货、应付账款）的变动同步验证。",[1801,2008,2009,2012],{},[1843,2010,2011],{},"目的","：防止“纸面利润”现象，即利润很高但现金流紧张的情况。",[1801,2014,2015,2017],{},[1843,2016,1902],{},"：如果一家公司的净利润大幅增长，但经营活动现金流量却持续为负，这可能表明其收入确认过于激进（如大量赊销）或存货积压严重，利润质量不高。",[1801,2019,2020,1881,2023],{},[1843,2021,2022],{},"注意事项（Caveats）",[1798,2024,2025,2031,2037,2043,2049],{},[1801,2026,2027,2030],{},[1843,2028,2029],{},"行业差异显著","：不同行业的经营模式和风险特征差异巨大，因此在进行同行对比时，必须选择可比性强的企业。",[1801,2032,2033,2036],{},[1843,2034,2035],{},"季节性影响","：某些行业（如零售、旅游）存在明显的季节性，比率分析时需要考虑季节性因素，或使用滚动12个月数据。",[1801,2038,2039,2042],{},[1843,2040,2041],{},"会计政策选择","：企业在会计政策选择上（如存货计价方法FIFO\u002FLIFO、折旧方法）可能存在差异，这会影响财务比率的可比性。分析时需要关注附注中的会计政策披露。",[1801,2044,2045,2048],{},[1843,2046,2047],{},"一次性项目","：非经常性或一次性利得\u002F损失会扭曲当期比率，分析时应剔除其影响，以评估企业持续经营能力。",[1801,2050,2051,2054],{},[1843,2052,2053],{},"横向（Cross-sectional）与纵向（Time-series）对比更有意义","：单一时点的比率意义有限，结合历史趋势和行业对比才能得出有价值的结论。",[1814,2056,2057],{},"通过以上系统性的分析方法，可以更全面、深入地理解企业的财务状况和经营绩效，为决策提供更可靠的依据。",[1794,2059,2061],{"id":2060},"研究桥梁esg-文本是补充证据不是装饰","研究桥梁：ESG 文本是补充证据，不是装饰",[1814,2063,2064],{},"比率仍是骨架，附注、可持续报告和外部数据用来检验解释。假设毛利率从 30% 升到 35%，公司同时宣称“绿色供应链显著降本”。分析师至少要追问：成本下降来自价格、产品结构还是采购？减排是否有基准年、边界、量化口径与审验？若没有，ESG 叙述不能单独证明毛利改善可持续。",[2066,2067,2068,2084],"table",{},[2069,2070,2071],"thead",{},[2072,2073,2074,2078,2081],"tr",{},[2075,2076,2077],"th",{},"数字信号",[2075,2079,2080],{},"最小补充证据",[2075,2082,2083],{},"不能直接推出",[2085,2086,2087,2099,2110,2121],"tbody",{},[2072,2088,2089,2093,2096],{},[2090,2091,2092],"td",{},"毛利率上升",[2090,2094,2095],{},"价格、销量、采购和存货政策",[2090,2097,2098],{},"经营质量必然提高",[2072,2100,2101,2104,2107],{},[2090,2102,2103],{},"CFO \u002F NI 下降",[2090,2105,2106],{},"应收、存货、合同资产变动",[2090,2108,2109],{},"收入一定舞弊",[2072,2111,2112,2115,2118],{},[2090,2113,2114],{},"ROE 上升",[2090,2116,2117],{},"杜邦三项与债务风险",[2090,2119,2120],{},"股东价值一定改善",[2072,2122,2123,2126,2129],{},[2090,2124,2125],{},"ESG 评分上升",[2090,2127,2128],{},"指标边界、底层数据与审验",[2090,2130,2131],{},"环境绩效一定改善",[1814,2133,2134,2140,2141,2146,2147,2152],{},[1851,2135,2139],{"href":2136,"rel":2137},"https:\u002F\u002Fdoi.org\u002F10.3390\u002Fjrfm19010058",[2138],"nofollow","Liu、Yuan 与 Zhu（2026）","讨论 AI 对 ESG 披露可读性、可比性、信息含量与可信度的潜在帮助；",[1851,2142,2145],{"href":2143,"rel":2144},"https:\u002F\u002Fdoi.org\u002F10.3390\u002Fsu18010017",[2138],"Janik 与 Ryszko（2026）","系统梳理绿色漂洗的类型和文本测量方法；",[1851,2148,2151],{"href":2149,"rel":2150},"https:\u002F\u002Fdoi.org\u002F10.1108\u002FAAAJ-09-2020-4934",[2138],"Lehner 等（2022）","则强调 AI 会带来伦理、可解释性和责任边界问题。共同的课堂结论是：模型可以标记矛盾，最终会计结论仍要回到可追溯证据。",[1794,2154,2156],{"id":2155},"_2102-盈利能力profitability","2.10.2 盈利能力（Profitability）",[1814,2158,2159],{},"盈利能力比率衡量企业赚取利润的效率。",[2161,2162,2164],"h3",{"id":2163},"毛利率gross-margin","毛利率（Gross Margin）",[1798,2166,2167,2176],{},[1801,2168,2169,1881,2172],{},[1843,2170,2171],{},"公式",[2173,2174,2175],"code",{},"Gross Margin = Gross Profit (GP) \u002F Sales",[1801,2177,2178,1957,2181],{},[1843,2179,2180],{},"解读要点",[1798,2182,2183,2189,2195],{},[1801,2184,2185,2188],{},[1843,2186,2187],{},"上升原因","：可能来自产品提价、产品结构向高毛利产品倾斜、原材料采购成本回落、生产效率提升或存货计价方法的影响（如在通胀期，FIFO法通常会拉高毛利）。",[1801,2190,2191,2194],{},[1843,2192,2193],{},"会计影响","：存货计价方法（FIFO\u002FLIFO\u002F加权平均）会显著影响毛利、税负和存货账面价值。在通胀期，LIFO法会使销售成本更高，毛利和税负更低（US GAAP允许；IFRS禁止LIFO）。",[1801,2196,2197,2199],{},[1843,2198,1902],{},"：一家服装公司毛利率从30%上升到35%，可能是因为推出了更多高端产品线，或者成功与供应商谈判降低了采购成本。",[2161,2201,2203],{"id":2202},"营业利润率operating-margin","营业利润率（Operating Margin）",[1798,2205,2206,2213],{},[1801,2207,2208,1881,2210],{},[1843,2209,2171],{},[2173,2211,2212],{},"Operating Margin = Operating Income (EBIT) \u002F Sales",[1801,2214,2215,1957,2217],{},[1843,2216,2180],{},[1798,2218,2219,2224,2230],{},[1801,2220,2221,2223],{},[1843,2222,2187],{},"：除了毛利改善外，还可能因为规模效应（如销售和管理费用SGA占销售额的比例下降）、研发效率提升或一次性营业费用减少。",[1801,2225,2226,2229],{},[1843,2227,2228],{},"质量验证","：分析时需剔除一次性或非经常性项目的影响，以评估企业核心经营活动的持续盈利能力。",[1801,2231,2232,2234],{},[1843,2233,1902],{},"：一家科技公司营业利润率从15%上升到18%，可能是因为其新产品研发成功并实现规模化生产，摊薄了固定费用。",[2161,2236,2238],{"id":2237},"净利率net-margin","净利率（Net Margin）",[1798,2240,2241,2248],{},[1801,2242,2243,1881,2245],{},[1843,2244,2171],{},[2173,2246,2247],{},"Net Margin = Net Income (NI) \u002F Sales",[1801,2249,2250,1957,2252],{},[1843,2251,2180],{},[1798,2253,2254,2260,2266],{},[1801,2255,2256,2259],{},[1843,2257,2258],{},"综合性指标","：反映企业在扣除所有成本、费用和所得税后的最终盈利能力。",[1801,2261,2262,2265],{},[1843,2263,2264],{},"结合杜邦分析","：需结合杜邦分析（见下文）来判断净利率的变化是源于经营效率的改善，还是财务杠杆（如利息费用）或税率变化的影响。",[1801,2267,2268,2270],{},[1843,2269,1902],{},"：一家公司净利率从8%上升到10%，可能是因为营业利润率提升，也可能是因为利息费用减少或有效税率下降。",[2161,2272,2274],{"id":2273},"资产回报率return-on-assets-roa","资产回报率（Return on Assets, ROA）",[1798,2276,2277,2289],{},[1801,2278,2279,1881,2281,2284,2285,2288],{},[1843,2280,2171],{},[2173,2282,2283],{},"ROA = Net Income \u002F Average Total Assets"," (或 ",[2173,2286,2287],{},"NOPAT \u002F Average Assets","，其中NOPAT为税后净营业利润)",[1801,2290,2291,1957,2293],{},[1843,2292,2180],{},[1798,2294,2295,2300,2310],{},[1801,2296,2297,2299],{},[1843,2298,2187],{},"：通常表示企业资产利用效率或利润率的提升。",[1801,2301,2302,2305,2306,2309],{},[1843,2303,2304],{},"杜邦分解","：可拆分为净利率 × 资产周转率（",[2173,2307,2308],{},"ROA = Net Margin × Asset Turnover","），有助于分析ROA变化的驱动因素。",[1801,2311,2312,2314],{},[1843,2313,1902],{},"：一家制造企业ROA从5%上升到7%，可能是因为其生产线升级提高了产能利用率（资产周转率提升），或者通过成本控制提高了净利率。",[2161,2316,2318],{"id":2317},"权益回报率return-on-equity-roe","权益回报率（Return on Equity, ROE）",[1798,2320,2321,2328],{},[1801,2322,2323,1881,2325],{},[1843,2324,2171],{},[2173,2326,2327],{},"ROE = Net Income \u002F Average Equity",[1801,2329,2330,1957,2332],{},[1843,2331,2180],{},[1798,2333,2334,2339,2345],{},[1801,2335,2336,2338],{},[1843,2337,2187],{},"：可能来自净利率、资产周转率或财务杠杆的提高。",[1801,2340,2341,2344],{},[1843,2342,2343],{},"风险提示","：若ROE主要依靠财务杠杆（Equity Multiplier）的提高而上升，需警惕企业可能承担了过高的债务风险。此时应检查利息保障倍数（Interest Coverage Ratio）和债务契约（Debt Covenants）条款。",[1801,2346,2347,2349],{},[1843,2348,1902],{},"：一家房地产公司ROE很高，但其资产负债率也极高，这表明其高ROE可能主要依赖于高杠杆，而非经营效率。",[2161,2351,2353],{"id":2352},"杜邦分析dupont-analysis","杜邦分析（DuPont Analysis）",[1798,2355,2356,2383,2408],{},[1801,2357,2358,1881,2360,2363],{},[1843,2359,2171],{},[2173,2361,2362],{},"ROE = Net Margin × Asset Turnover × Equity Multiplier",[1798,2364,2365,2371,2377],{},[1801,2366,2367,2370],{},[2173,2368,2369],{},"Net Margin = Net Income \u002F Sales"," (盈利能力)",[1801,2372,2373,2376],{},[2173,2374,2375],{},"Asset Turnover = Sales \u002F Average Total Assets"," (资产周转率\u002F运营效率)",[1801,2378,2379,2382],{},[2173,2380,2381],{},"Equity Multiplier = Average Total Assets \u002F Average Equity"," (财务杠杆)",[1801,2384,2385,1957,2388],{},[1843,2386,2387],{},"诊断要点",[1798,2389,2390,2396,2402],{},[1801,2391,2392,2395],{},[1843,2393,2394],{},"净利率上升而资产周转率下降","：可能发生在企业扩张期，大量资产沉淀尚未产生效益，或企业产品结构向高毛利、低周转（如奢侈品）方向转移。",[1801,2397,2398,2401],{},[1843,2399,2400],{},"资产周转率上升但净利率下降","：可能企业采取了“薄利多销”的策略，通过促销或降价来扩大销售量。",[1801,2403,2404,2407],{},[1843,2405,2406],{},"权益乘数上升","：表明企业增加了债务融资，提高了财务杠杆。此时需同步关注利息保障倍数（Interest Coverage Ratio）、固定费用覆盖倍数（Fixed Charge Coverage Ratio, FCCR）以及债务契约条款，以评估风险。",[1801,2409,2410,2412],{},[1843,2411,1902],{},"：一家零售企业ROE下降。通过杜邦分析发现，其净利率和资产周转率都保持稳定，但权益乘数下降。这可能意味着公司偿还了部分债务，降低了财务风险，但也牺牲了部分ROE。",[2161,2414,2416],{"id":2415},"每股收益earnings-per-share-eps","每股收益（Earnings per Share, EPS）",[1798,2418,2419,2426],{},[1801,2420,2421,1881,2423],{},[1843,2422,2171],{},[2173,2424,2425],{},"EPS = Net Income \u002F Weighted Average Number of Common Shares Outstanding",[1801,2427,2428,1957,2430],{},[1843,2429,2180],{},[1798,2431,2432,2438,2444],{},[1801,2433,2434,2437],{},[1843,2435,2436],{},"关注影响因素","：需留意股票回购（减少分母，提高EPS）和一次性收益（提高分子）对EPS的影响。",[1801,2439,2440,2443],{},[1843,2441,2442],{},"结合经营现金流","：结合经营活动现金流量（CFO）和自由现金流（FCF）来确认EPS的“含金量”，防止“纸面EPS”现象。",[1801,2445,2446,2448],{},[1843,2447,1902],{},"：一家公司通过大量回购股票来提高EPS，但其核心业务盈利能力并未改善，甚至经营现金流恶化，这可能是一种短期操纵行为。",[1814,2450,2451,1881],{},[1843,2452,2453],{},"示例计算",[1814,2455,2456],{},"假设某公司数据如下：",[1798,2458,2459,2462,2465,2468],{},[1801,2460,2461],{},"净利润（NI）：1,040元",[1801,2463,2464],{},"销售收入（Sales）：10,000元",[1801,2466,2467],{},"平均资产（Average Total Assets）：8,000元",[1801,2469,2470],{},"平均权益（Average Equity）：4,000元",[1814,2472,2473],{},"计算各项盈利能力比率：",[1798,2475,2476,2482,2488],{},[1801,2477,2478,2481],{},[1843,2479,2480],{},"净利率"," = 1,040 \u002F 10,000 = 10.4%",[1801,2483,2484,2487],{},[1843,2485,2486],{},"资产回报率（ROA）"," = 1,040 \u002F 8,000 ≈ 13.0%",[1801,2489,2490,2493],{},[1843,2491,2492],{},"权益回报率（ROE）"," = 1,040 \u002F 4,000 ≈ 26.0%",[1814,2495,2496],{},"通过杜邦分析验证ROE：",[1798,2498,2499,2502,2505],{},[1801,2500,2501],{},"资产周转率 = 10,000 \u002F 8,000 = 1.25",[1801,2503,2504],{},"权益乘数 = 8,000 \u002F 4,000 = 2",[1801,2506,2507,2510],{},[1843,2508,2509],{},"ROE"," = 10.4% × 1.25 × 2 = 26.0%",[1814,2512,2513],{},"这个例子展示了如何计算和分解盈利能力比率，从而更全面地评估企业的盈利状况。",[1794,2515,2517],{"id":2516},"_2103-偿债与资本结构solvency-leverage","2.10.3 偿债与资本结构（Solvency & Leverage）",[1814,2519,2520],{},"偿债能力比率衡量企业偿还长期债务的能力，而资本结构比率则反映企业资产融资中债务和权益的相对比例。",[2161,2522,2524],{"id":2523},"资产负债率debt-to-assets","资产负债率（Debt-to-Assets）",[1798,2526,2527,2534],{},[1801,2528,2529,1881,2531],{},[1843,2530,2171],{},[2173,2532,2533],{},"Debt-to-Assets = Total Debt \u002F Total Assets",[1801,2535,2536,1957,2538],{},[1843,2537,2180],{},[1798,2539,2540,2545],{},[1801,2541,2542,2544],{},[1843,2543,1896],{},"：衡量企业总资产中有多少比例是通过债务融资的。比率越高，说明企业对债务的依赖程度越高，财务风险越大。",[1801,2546,2547,2549],{},[1843,2548,1902],{},"：一家公司的资产负债率为60%，意味着其60%的资产是由债务提供资金的。",[2161,2551,2553],{"id":2552},"负债权益比debt-to-equity","负债权益比（Debt-to-Equity）",[1798,2555,2556,2563],{},[1801,2557,2558,1881,2560],{},[1843,2559,2171],{},[2173,2561,2562],{},"Debt-to-Equity = Total Debt \u002F Total Equity",[1801,2564,2565,1957,2567],{},[1843,2566,2180],{},[1798,2568,2569,2574,2580],{},[1801,2570,2571,2573],{},[1843,2572,1896],{},"：衡量企业债务资本与权益资本的比例。比率越高，说明企业财务杠杆越高，债权人对企业的风险承担越大。",[1801,2575,2576,2579],{},[1843,2577,2578],{},"上升含义","：资本结构更激进。若伴随EBITDA\u002FEBIT（息税折旧摊销前利润\u002F息税前利润）改善且利息保障倍数稳定，则可能表明企业有效利用了财务杠杆。反之，若盈利能力未同步提升，则需警惕再融资风险和违约风险。",[1801,2581,2582,2584],{},[1843,2583,1902],{},"：一家公司的负债权益比为2，意味着其债务是权益的两倍。如果其盈利能力下降，偿债压力将显著增加。",[2161,2586,2588],{"id":2587},"利息保障倍数interest-coverage-ratio","利息保障倍数（Interest Coverage Ratio）",[1798,2590,2591,2598],{},[1801,2592,2593,1881,2595],{},[1843,2594,2171],{},[2173,2596,2597],{},"Interest Coverage = Earnings Before Interest and Taxes (EBIT) \u002F Interest Expense",[1801,2599,2600,1957,2602],{},[1843,2601,2180],{},[1798,2603,2604,2609,2615],{},[1801,2605,2606,2608],{},[1843,2607,1896],{},"：衡量企业经营所得利润支付利息费用的能力。比率越高，说明企业偿还利息的能力越强，财务风险越低。",[1801,2610,2611,2614],{},[1843,2612,2613],{},"下行风险","：比率下降意味着企业利润对利息的缓冲能力减弱。在经济周期下行或利率上行时，企业的偿债风险会放大。",[1801,2616,2617,2619],{},[1843,2618,1902],{},"：一家公司EBIT为100万元，利息费用为20万元，则利息保障倍数为5倍。如果EBIT下降到30万元，利息保障倍数降至1.5倍，表明其偿债能力显著恶化。",[2161,2621,2623],{"id":2622},"固定费用覆盖倍数fixed-charge-coverage-ratio-fccr","固定费用覆盖倍数（Fixed Charge Coverage Ratio, FCCR）",[1798,2625,2626,2640],{},[1801,2627,2628,1881,2630,2633],{},[1843,2629,2171],{},[2173,2631,2632],{},"FCCR ≈ (EBITDA + Lease Payments) \u002F (Interest Expense + Lease Payments)",[1798,2634,2635],{},[1801,2636,2637,2639],{},[1843,2638,1896],{},"：FCCR是利息保障倍数的扩展，它不仅考虑了利息费用，还考虑了其他重要的固定财务负担，如租赁付款（在旧准则下，经营租赁的租金是费用，但在新准则下，租赁负债的本金偿还和利息费用都需要考虑）。",[1801,2641,2642,1957,2644],{},[1843,2643,2180],{},[1798,2645,2646,2652],{},[1801,2647,2648,2651],{},[1843,2649,2650],{},"用途","：综合评估企业覆盖所有固定财务负担的能力。对于租赁业务较多的企业，FCCR能更全面地反映其偿债能力。",[1801,2653,2654,2656],{},[1843,2655,1902],{},"：一家航空公司除了利息费用外，还有大量的飞机租赁付款。FCCR能更好地评估其在考虑所有固定支出后的偿债能力。",[1814,2658,2659],{},"理解这些偿债与资本结构比率，有助于评估企业的财务风险水平，特别是其长期偿债能力和资本结构的稳健性。高杠杆可能带来高回报，但也伴随着高风险。",[1794,2661,2663],{"id":2662},"_2104-流动性liquidity","2.10.4 流动性（Liquidity）",[1814,2665,2666],{},"流动性比率衡量企业偿还短期债务的能力，即企业将资产转换为现金以满足短期义务的效率。",[2161,2668,2670],{"id":2669},"流动比率current-ratio","流动比率（Current Ratio）",[1798,2672,2673,2680],{},[1801,2674,2675,1881,2677],{},[1843,2676,2171],{},[2173,2678,2679],{},"Current Ratio = Current Assets \u002F Current Liabilities",[1801,2681,2682,1957,2684],{},[1843,2683,2180],{},[1798,2685,2686,2691,2697,2703],{},[1801,2687,2688,2690],{},[1843,2689,1896],{},"：衡量企业流动资产覆盖流动负债的能力。通常认为，流动比率在2:1左右是比较健康的，但不同行业差异很大。",[1801,2692,2693,2696],{},[1843,2694,2695],{},"优点","：简单易算，是衡量短期偿债能力最常用的指标。",[1801,2698,2699,2702],{},[1843,2700,2701],{},"缺点","：流动资产中可能包含变现能力较差的存货，不能完全反映企业的即时偿债能力。",[1801,2704,2705,2707],{},[1843,2706,1902],{},"：一家公司的流动资产为200万元，流动负债为100万元，则流动比率为2。这意味着公司每1元流动负债有2元流动资产作为保障。",[2161,2709,2711],{"id":2710},"速动比率quick-ratio-acid-test-ratio","速动比率（Quick Ratio \u002F Acid-Test Ratio）",[1798,2713,2714,2728],{},[1801,2715,2716,1881,2718,2721],{},[1843,2717,2171],{},[2173,2719,2720],{},"Quick Ratio = (Cash + Cash Equivalents + Accounts Receivable) \u002F Current Liabilities",[1798,2722,2723],{},[1801,2724,2725,2727],{},[1843,2726,1896],{},"：速动比率是在流动比率的基础上，剔除了存货（通常是流动资产中变现能力最差且可能存在跌价风险的部分）和预付费用等流动性较差的资产。它衡量企业在不依赖销售存货的情况下偿还短期债务的能力。",[1801,2729,2730,1957,2732],{},[1843,2731,2180],{},[1798,2733,2734,2740,2746,2751,2757],{},[1801,2735,2736,2739],{},[1843,2737,2738],{},"更保守的衡量","：通常认为1:1左右是比较健康的，但同样因行业而异。",[1801,2741,2742,2745],{},[1843,2743,2744],{},"低比率","：并不必然“危险”。例如，对于快消品或零售行业，由于存货周转速度快，即使速动比率较低，也可能通过快速销售存货来产生现金。",[1801,2747,2748,2750],{},[1843,2749,2343],{},"：若速动比率低，且伴随应收账款周转天数（DSO）上升、存货周转天数（DIO）上升、经营活动现金流量（CFO）\u002F净利润（NI）比率走弱，则需关注企业可能面临的现金压力。",[1801,2752,2753,2756],{},[1843,2754,2755],{},"特殊情况","：速动比率低而DIO快速下降，可能表明企业正在通过清库存来换取现金。若同期毛利率也承压，则可能属于“以价换量”的策略，需要警惕其对盈利能力的长期影响。",[1801,2758,2759,2761],{},[1843,2760,1902],{},"：一家公司的流动资产中，现金50万，应收账款50万，存货100万。流动负债100万。流动比率为2。但速动比率 = (50+50)\u002F100 = 1。这表明公司在不销售存货的情况下，也能覆盖短期债务。",[2161,2763,2765],{"id":2764},"现金比率cash-ratio","现金比率（Cash Ratio）",[1798,2767,2768,2775],{},[1801,2769,2770,1881,2772],{},[1843,2771,2171],{},[2173,2773,2774],{},"Cash Ratio = (Cash + Cash Equivalents) \u002F Current Liabilities",[1801,2776,2777,1957,2779],{},[1843,2778,2180],{},[1798,2780,2781,2787,2792,2797],{},[1801,2782,2783,2786],{},[1843,2784,2785],{},"最保守的衡量","：仅考虑企业最即时的现金和现金等价物来覆盖短期债务的能力。",[1801,2788,2789,2791],{},[1843,2790,2695],{},"：反映企业最强的即时偿债能力。",[1801,2793,2794,2796],{},[1843,2795,2701],{},"：比率通常较低，且可能无法完全反映企业的真实流动性，因为应收账款等资产通常也能在短期内变现。",[1801,2798,2799,2801],{},[1843,2800,1902],{},"：一家公司的现金和现金等价物为30万元，流动负债为100万元，则现金比率为0.3。",[1814,2803,2804],{},"理解这些流动性比率，有助于评估企业应对短期财务压力的能力，避免因现金短缺而陷入困境。分析时应结合企业的经营模式、行业特点和营运资本管理策略进行综合判断。",[1794,2806,2808],{"id":2807},"_2105-运营效率efficiency-activity","2.10.5 运营效率（Efficiency \u002F Activity）",[1814,2810,2811],{},"运营效率比率衡量企业利用其资产和负债产生销售收入的效率。",[2161,2813,2815],{"id":2814},"资产周转率asset-turnover","资产周转率（Asset Turnover）",[1798,2817,2818,2824],{},[1801,2819,2820,1881,2822],{},[1843,2821,2171],{},[2173,2823,2375],{},[1801,2825,2826,1957,2828],{},[1843,2827,2180],{},[1798,2829,2830,2835,2841],{},[1801,2831,2832,2834],{},[1843,2833,1896],{},"：衡量企业每单位资产能够产生多少销售收入。比率越高，说明资产利用效率越高。",[1801,2836,2837,2840],{},[1843,2838,2839],{},"杜邦联系","：资产周转率是杜邦分析的重要组成部分，与净利率、权益乘数共同决定ROE。",[1801,2842,2843,2845],{},[1843,2844,1902],{},"：一家零售企业的资产周转率通常高于重资产的制造业企业，因为零售业的资产（如存货）周转速度快。",[2161,2847,2849],{"id":2848},"存货周转率inventory-turnover与存货周转天数days-inventory-outstanding-dio","存货周转率（Inventory Turnover）与存货周转天数（Days Inventory Outstanding, DIO）",[1798,2851,2852,2868],{},[1801,2853,2854,1957,2856],{},[1843,2855,2171],{},[1798,2857,2858,2863],{},[1801,2859,2860],{},[2173,2861,2862],{},"Inventory Turnover = Cost of Goods Sold (COGS) \u002F Average Inventory",[1801,2864,2865],{},[2173,2866,2867],{},"DIO = 365 \u002F Inventory Turnover",[1801,2869,2870,1957,2872],{},[1843,2871,2180],{},[1798,2873,2874,2879,2884,2889],{},[1801,2875,2876,2878],{},[1843,2877,1896],{},"：存货周转率衡量企业销售存货的速度。DIO则表示存货从购入到销售平均需要多少天。比率越高（DIO越低），说明存货管理效率越高。",[1801,2880,2881,2883],{},[1843,2882,2578],{},"：存货周转率下降（DIO上升）可能意味着市场需求放缓、企业备货过量、产品滞销或新品爬坡不顺。",[1801,2885,2886,2888],{},[1843,2887,2343],{},"：若DIO上升，且同期应收账款周转天数（DSO）也上升，应付账款周转天数（DPO）持平或下降，则现金转换周期（CCC）会拉长，企业现金占用变重，可能面临流动性压力。",[1801,2890,2891,2893],{},[1843,2892,1902],{},"：一家电子产品制造商的DIO从60天上升到90天，可能表明其新产品销售不如预期，导致库存积压。",[2161,2895,2897],{"id":2896},"应收账款周转率accounts-receivable-turnover与应收账款周转天数days-sales-outstanding-dso","应收账款周转率（Accounts Receivable Turnover）与应收账款周转天数（Days Sales Outstanding, DSO）",[1798,2899,2900,2916],{},[1801,2901,2902,1957,2904],{},[1843,2903,2171],{},[1798,2905,2906,2911],{},[1801,2907,2908],{},[2173,2909,2910],{},"AR Turnover = Sales \u002F Average Accounts Receivable",[1801,2912,2913],{},[2173,2914,2915],{},"DSO = 365 \u002F AR Turnover",[1801,2917,2918,1957,2920],{},[1843,2919,2180],{},[1798,2921,2922,2927,2932,2937],{},[1801,2923,2924,2926],{},[1843,2925,1896],{},"：应收账款周转率衡量企业收回应收账款的速度。DSO则表示企业从销售到收回现金平均需要多少天。比率越高（DSO越低），说明应收账款管理效率越高。",[1801,2928,2929,2931],{},[1843,2930,2578],{},"：应收账款周转率下降（DSO上升）可能意味着企业信用政策放宽、客户议价能力加强、收款效率下降或坏账风险增加。",[1801,2933,2934,2936],{},[1843,2935,2343],{},"：如坏账率抬头，需及时调整坏账备抵模型。",[1801,2938,2939,2941],{},[1843,2940,1902],{},"：一家B2B软件公司的DSO从30天上升到45天，可能表明其为了争取客户而延长了信用期，或者客户的付款能力下降。",[2161,2943,2945],{"id":2944},"应付账款周转天数days-payable-outstanding-dpo","应付账款周转天数（Days Payable Outstanding, DPO）",[1798,2947,2948,2955],{},[1801,2949,2950,1881,2952],{},[1843,2951,2171],{},[2173,2953,2954],{},"DPO = 365 \u002F (Cost of Goods Sold \u002F Average Accounts Payable)",[1801,2956,2957,1957,2959],{},[1843,2958,2180],{},[1798,2960,2961,2966,2971,2976],{},[1801,2962,2963,2965],{},[1843,2964,1896],{},"：DPO衡量企业支付供应商款项的平均天数。",[1801,2967,2968,2970],{},[1843,2969,2578],{},"：DPO上升意味着企业延长了支付供应商款项的时间，这可以改善企业的现金流。",[1801,2972,2973,2975],{},[1843,2974,2343],{},"：过度延长DPO可能引发供应商关系紧张，甚至可能导致企业失去早付折扣，增加采购成本。",[1801,2977,2978,2980],{},[1843,2979,1902],{},"：一家零售商将DPO从45天延长到60天，可以使其在不增加外部融资的情况下，获得更多的营运资金。",[2161,2982,2984],{"id":2983},"现金转换周期cash-conversion-cycle-ccc","现金转换周期（Cash Conversion Cycle, CCC）",[1798,2986,2987,2994],{},[1801,2988,2989,1881,2991],{},[1843,2990,2171],{},[2173,2992,2993],{},"CCC = DIO + DSO - DPO",[1801,2995,2996,1957,2998],{},[1843,2997,2180],{},[1798,2999,3000,3005,3011,3016],{},[1801,3001,3002,3004],{},[1843,3003,1896],{},"：CCC衡量企业从投入现金购买存货到最终收回现金所需要的时间。CCC越短，说明企业营运资金管理效率越高，对现金的占用越少。",[1801,3006,3007,3010],{},[1843,3008,3009],{},"缩短含义","：经营现金效率改善。",[1801,3012,3013,3015],{},[1843,3014,2343],{},"：若CCC的缩短主要依赖于DPO的拉长，而非DIO或DSO的优化，则需要评估这种策略的可持续性，以及其对供应商关系的影响。",[1801,3017,3018,3020],{},[1843,3019,1902],{},"：一家公司通过优化生产流程，将DIO从50天降至40天；通过改进收款政策，将DSO从40天降至35天；同时将DPO从30天延长至35天。则CCC从 (50+40-30)=60天 缩短到 (40+35-35)=40天，显著改善了现金流。",[1794,3022,3024],{"id":3023},"可运行例题一张诊断表同时看-roe-与-ccc","可运行例题：一张诊断表同时看 ROE 与 CCC",[1814,3026,3027],{},"高 ROE 和短 CCC 都不是自动的“好消息”。先拆驱动，再回到业务背景。",[3029,3030],"pyodide",{"code64":3031,"layout":3032,"locale":7,"title":3033},"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","vertical","Python：杜邦分解与现金转换周期",[1814,3035,3036],{},"下一步不是给公司贴“优秀”标签，而是做对照：与去年和同行比较，并检查 ROE 是否主要由权益乘数推高、CCC 是否主要靠拖延供应商付款缩短。",[1794,3038,3040],{"id":3039},"本节学习与应用四个问题","本节学习与应用（四个问题）",[1798,3042,3043,3053,3066,3095],{},[1801,3044,3045,3048],{},[1843,3046,3047],{},"为什么要学\u002F用这一节？",[1798,3049,3050],{},[1801,3051,3052],{},"单看财务报表难以把握企业“好不好”“稳不稳”，而财务比率正是把各报表项目关系结构化的一套工具。",[1801,3054,3055,3058],{},[1843,3056,3057],{},"这一节的知识有什么用？",[1798,3059,3060,3063],{},[1801,3061,3062],{},"能够从盈利能力、偿债能力、营运效率和成长性等多个维度，对企业进行系统体检。",[1801,3064,3065],{},"在考试和实践中，财务比率是写分析题和投资建议的基本语言。",[1801,3067,3068,3071],{},[1843,3069,3070],{},"在题目或工作中怎么用？",[1798,3072,3073,3084],{},[1801,3074,3075,3076],{},"做题时：\n",[1798,3077,3078,3081],{},[1801,3079,3080],{},"先按类别整理指标（盈利性、流动性、杠杆、周转、市场价值等），逐类计算并与历史\u002F同行比较；",[1801,3082,3083],{},"回到业务背景，解释指标变化背后的原因，而不是只描述“上升\u002F下降”。",[1801,3085,3086,3087],{},"实务中：\n",[1798,3088,3089,3092],{},[1801,3090,3091],{},"构建自己的“必算指标清单”（例如ROE拆解、杠杆水平、CCC、毛利率等）；",[1801,3093,3094],{},"结合行业特性设定合理区间，发现异常值后再做深入分析。",[1801,3096,3097,3100],{},[1843,3098,3099],{},"用好了会得到什么结果？",[1798,3101,3102,3105],{},[1801,3103,3104],{},"能够用少量关键指标讲清楚一家公司的财务故事，而不是堆砌数字。",[1801,3106,3107],{},"为后续做估值、信用评级或投融资决策提供扎实的定量基础。",[1794,3109,3110],{"id":3110},"常见错误",[1798,3112,3113,3116,3119,3122],{},[1801,3114,3115],{},"没有比较基准就解释数字。单个比率必须放到历史、同行、预算或契约要求中理解。",[1801,3117,3118],{},"只看利润率，不看现金流、周转和坏账风险。",[1801,3120,3121],{},"把 ROE 上升直接理解为经营改善，忽略杠杆提高也会推高 ROE。",[1801,3123,3124],{},"比较 IFRS 与 US GAAP 企业时，忽略存货、租赁、研发和重估政策差异。",[1794,3126,3127],{"id":3127},"快速检查",[3129,3130,3131,3134,3137],"ol",{},[1801,3132,3133],{},"为什么高 ROE 可能反而提示更高风险？",[1801,3135,3136],{},"CCC 缩短一定是好事吗？",[1801,3138,3139],{},"毛利率上升时，至少应检查哪两类原因？",[3141,3142,3144],"legacy-spoiler",{"title":3143},"参考答案",[3129,3145,3146,3149,3152],{},[1801,3147,3148],{},"如果来自权益乘数上升，可能是债务杠杆提高，而不是经营效率改善。",[1801,3150,3151],{},"不一定。若主要靠拖延付款提高 DPO，可能损害供应商关系。",[1801,3153,3154],{},"价格\u002F产品结构变化，以及成本、存货计价或一次性因素。",[1794,3156,3157],{"id":3157},"下一章",[1814,3159,3160,3161,1846],{},"本章把报表数字转成分析语言；下一章提醒你在跨企业比较前先检查准则差异。继续读",[1851,3162,1184],{"href":1859},{"title":10,"searchDepth":3164,"depth":3164,"links":3165},2,[3166,3167,3168,3169,3170,3171,3172,3173,3183,3189,3194,3201,3202,3203,3204,3205],{"id":1796,"depth":3164,"text":1796},{"id":1812,"depth":3164,"text":1812},{"id":1830,"depth":3164,"text":1830},{"id":1836,"depth":3164,"text":1836},{"id":1862,"depth":3164,"text":1863},{"id":1869,"depth":3164,"text":1870},{"id":2060,"depth":3164,"text":2061},{"id":2155,"depth":3164,"text":2156,"children":3174},[3175,3177,3178,3179,3180,3181,3182],{"id":2163,"depth":3176,"text":2164},3,{"id":2202,"depth":3176,"text":2203},{"id":2237,"depth":3176,"text":2238},{"id":2273,"depth":3176,"text":2274},{"id":2317,"depth":3176,"text":2318},{"id":2352,"depth":3176,"text":2353},{"id":2415,"depth":3176,"text":2416},{"id":2516,"depth":3164,"text":2517,"children":3184},[3185,3186,3187,3188],{"id":2523,"depth":3176,"text":2524},{"id":2552,"depth":3176,"text":2553},{"id":2587,"depth":3176,"text":2588},{"id":2622,"depth":3176,"text":2623},{"id":2662,"depth":3164,"text":2663,"children":3190},[3191,3192,3193],{"id":2669,"depth":3176,"text":2670},{"id":2710,"depth":3176,"text":2711},{"id":2764,"depth":3176,"text":2765},{"id":2807,"depth":3164,"text":2808,"children":3195},[3196,3197,3198,3199,3200],{"id":2814,"depth":3176,"text":2815},{"id":2848,"depth":3176,"text":2849},{"id":2896,"depth":3176,"text":2897},{"id":2944,"depth":3176,"text":2945},{"id":2983,"depth":3176,"text":2984},{"id":3023,"depth":3164,"text":3024},{"id":3039,"depth":3164,"text":3040},{"id":3110,"depth":3164,"text":3110},{"id":3127,"depth":3164,"text":3127},{"id":3157,"depth":3164,"text":3157},"md",null,{"sidebar":3209},{"order":3210},15,true,{"title":1180,"description":186},"ZpJQ5412aS1M_gKaemVCYnSeg4Mss-eUZvcLM-vCXQQ",[3215,3217],{"title":1174,"path":1175,"stem":1176,"description":3216,"children":-1},"从做账转向读账与比较",{"title":1184,"path":1185,"stem":1186,"description":3218,"children":-1},"IFRS vs. US GAAP Comparison",1785754743184]