Analiza finansowa ekonomicznej kondycji na przykładzie polskich instytucji/Financial analysis of economic health – Polish entities case

This paper focuses on economic condition analysis of three polish economic entities during three-years period of 2010-2012. Each of them is characterised by different type of activity – the first firm is an non-profit association, the second one is a financial institution, and the last one is a company known from trading activity - different from the previous institutions. This paper contains financial indicators that were calculated for each of these companies. The indicators were proposed by a Professor of Finance – John Zietlow from Malone University in Canton, Ohio (USA). The indexes are divided into four groups depending on investigated time horizon and they refer to company cash flows, cash management and liquidity management. The last step is calculating of synthetic measure FHI (Financial Health Index) based on previous indicators. This Index presents the economic health of an enterprise and we can notice appropriate conclusions.