Johdanto
I.Solvenssiindeksi
⒈Lyhyen aikavälin vakavaraisuusindeksi
⑴Currentratio = Vaihtovarat / lyhytaikaiset velat × 100 %
Undernormalcircumstances,thehigherthecurrentratio,thestrongertheshort-termsolvency.Fromtheperspectiveofcreditors,thehigherthecurrentratio,thebetter;fromtheperspectiveofbusinessoperators,Excessivecurrentratiomeansanincreaseinopportunitycostandadecreaseinprofitability.
⑵QuickRatio=QuickAssets/Crerent Liabilities × 100%
Niistä: QuickAssets=Monetary Funds+TransactionalFinancial Assets+AccountsReceivable+NotesReceivable
Undernormalcircumstances,thehigherthequickratio,thestrongerthesolvencyofthecompany;however,itwillgreatlyincreasetheopportunitycostofthecompanyduetotheexcessiveuseofcorporatecashandaccountsreceivable.
⒉Pitkän aikavälin vakavaraisuusindeksi
⑴Asset-Liability -suhde = velat yhteensä/omaisuus yhteensä × 100 %
Undernormalcircumstances,thesmallertheasset-liabilityratio,Itindicatesthatthecompany’slong-termdebtsolvencyisstronger;fromtheperspectiveofbusinessowners,theindicatoristoosmalltoindicateinsufficientuseoffinancialleverage;businessdecisionmakersshouldcombinedebtsolvencyindicatorswithprofitabilityindicatorsforanalysis.
⑵ Omavaraisuus = velka yhteensä/omistajan oma pääoma × 100 %
Undernormalcircumstances,thelowertheequityratio,thestrongerthecompany’slong-termsolvency,butitalsoshowsthatthecompanyThefinancialleverageeffectofdebtcannotbefullyutilized.
Second,OperationalcapabilityIndicators
OperationalcapabilityismainlymeasuredbyassetturnoverspeedGenerallyspeaking,thefastertheturnoverrateandthehighertheefficiencyofassetutilization,thestrongertheoperationalcapability.Thespeedofassetturnoverisusuallyexpressedintermsofturnoverrateandturnoverperiod(turnoverdays).
Laskentakaava:
Liikevaihto(kiertoajat)=Kiertomäärä/omaisuuden keskimääräinen saldo
Kiertojakso(kiertopäivät)=Laskentajaksot/liikevaihto Kertojen lukumäärä=keskimääräinen omaisuussaldo*laskentajaksot/liikevaihto
3. Kannattavuusindeksi
Laskentakaava | Indeksianalyysi |
Operatingprofitratio=liikevoitto/liikevoitto × 100 % | Thehighertheindex,thestrongerthemarketcompetitivenessofthecompany,thegreaterthedevelopmentpotential,andthestrongertheprofitability. |
Costexpenseprofitrate = kokonaisvoitto / kokonaiskustannuskulut × 100 % Kokonaiskulut=toimintakulut+liiketoiminnan kulutJa lisä+myyntikulut+hallintokulut+rahoituskulut | Thehighertheindex,thelowerthepricethecompanypaysforprofit,thebetterthecostandexpensecontrol,andthemoreprofitableThestrongertheability |
Returnontotalassets=Kokonaisvoitto ennen korkoa ja veroa/omaisuuden keskiarvo × 100 % InterestandtaxTotalpreviousprofit=totalprofit+interestexpense | Generallyspeaking,thehighertheindex,thebettertheassetutilizationefficiencyofthecompanyandthestrongertheprofitabilityoftheentirecompany |
Revenueonnetassets = nettovoitto / keskimääräiset tulot × 100 % | ItisgenerallybelievedthatnetThehighertherateofreturnonassets,thestrongertheabilityofthecompany'sowncapitaltoobtainincome,thebettertheoperationalefficiency,andthehigherthedegreeofguaranteeforcorporateinvestorsandcreditors |
Four.DevelopmentAbilityIndex
Laskentakaava | Indikaattorianalyysi |
Operatingincomegrowthrate=Toimintatulon kasvu tänä vuonnaSumma/edellisen vuoden toimintatulo×100 % | Theoperatingincomegrowthrateisgreaterthanzero,indicatingthatthecompany’soperatingincomehasincreasedthisyear.Thehighertheindexvalue,thefasterthegrowthrate.Thebettertheenterprisemarketprospects |
Pääoman arvon säilyttäminen ja arvostus =Totalowner'sequityattheendoftheyearafterdeductingobjectivefactors/atthebeginningoftheyearTotalowner’sequity×100% | Itisgenerallybelievedthatthehigherthecapitalpreservationandappreciationrate,thebetterthecompany’scapitalpreservationstatus,andthefastertheowner’sequitywillgrow;Thedebtsoftherightsholdersaremoresecure.Thisindicatorshouldusuallybegreaterthan100% |
Totalassetgrowthrate=totalassetgrowththisyear/totalassetsatthebeginningoftheyear×100% | ⑴Thehighertheindex,thefastertheexpansionofthecompany’sassetmanagementscalewithinacertainperiodoftime; ⑵Whenanalyzing,weneedtopayattentiontothequalityandquantityofassetscaleexpansionTherelationshipbetweenthecompanyandthecompany’ssubsequentdevelopmentcapabilitiestoavoidblindexpansion. |
Operatingprofitgrowthrate = tämän vuoden liikevoiton kasvu / edellisen vuoden kokonaisliikevoitto × 100 % | Thisyear’soperatingprofitgrowth=thisyear’totaloperatingprofit-viusivuoden’totaloperatingprofit |
5.Comprehensiveindexanalysis
Comprehensiveindexanalysisistointegratevariousindicatorsintoanorganicwhole,andcomprehensivelyrevealanddisclosethebusinessstatusandfinancialstatusoftheenterprise,soastoaccuratelydeterminetheprosandconsofthecompany’seconomicbenefitsJudgmentandevaluation.Acomprehensivefinancialindicatorsystemmusthavethreebasicelements:completeandappropriateindicatorelements;matchingmainandauxiliaryindicatorfunctions;andmeetingtheneedsofmultipleparties.
Teollisuusyritykset
Themaincontentsofthefinancialindicatorsofindustrialenterprisesinclude:
⑴Fixedassets.Itisdividedintotheoriginalvalueoffixedassets,thenetvalueoffixedassets,theprofitprovidedbyeachhundredyuanoffixedassets(originalvalueornetvalue),etc.
⑵Liquidfunds.Itisdividedintototalworkingcapital,fixedworkingcapital,reservecapital,productioncapital,finishedproductcapital,monetarycapitalandsettlementcapital.Eachhundredyuanofoutputvalueoccupiesfixedworkingcapital,fixedworkingcapitalturnoverspeed,etc.
3Cost.Dividedintothetotalcostofallproducts,thetotalcostofcomparableproducts,thereductionrateofcomparableproductcosts,theunitcostofproducts,etc.
⑷Tuotto.Tuotteiden voitto,kokonaisvoitto,tuotemyyntivero,paid-inprofit, pääoman voittoprosentti,pääoman korko jne.
Rakennusteollisuus
Rakennusteollisuus(referstotheconstructionindustryinabroadsense,includingwaterconservancy,Railway,highway,municipalengineering,etc.)Themaincontentoffinancialindicatorsincludes:
⑴fixedassets.Itisdividedintooriginalvalueoffixedassets,netvalueoffixedassets,etc.
⑵Käyttöpääoma.Kiinteämääräkäyttöpääoma,kiinteäkäyttöpääoma,omakäyttöpääoma,ei-omakäyttöpääoma,käyttöpääomaliikevaihtoajat,käyttöpääomakiertopäivät,käyttöpääoman käyttöaste(tuotantoarvo),pääoma.
⑶Projektin kustannukset.Se jaetaan suoriin kustannuksiin, epäsuoriin kustannuksiin (esim. rakentamisen hallintamaksu), projektin budjettikustannuksiin, hankkeen todellisiin kustannuksiin, projektin kustannusten vähennyssummaan, projektikustannusalennusprosenttiin jne.
⑷Tuotto.Aliprojektien selvitysvoitto, tuotemyyntivoitto, liikevoitto, materiaalimyyntivoitto, muu liikevoitto, ei-toiminnalliset tuotot ja ei-toiminnalliset kulut, kokonaisvoitto, maksettu voitto, pääoman tuotto, tuottoarvo, voittoprosentti, pääomaxkorko jne.
Valitse sovellus
Infinancialworkpractice,throughanatomyandanalysisofthefinancialstatusandoperatingresultsoftheenterprise,itispossibletomakeanaccurateevaluationandjudgmentontheprosandconsoftheeconomicbenefitsoftheenterprise.Theselectionandapplicationoffinancialindicatorsasevaluationandjudgmentstandardsareparticularlyimportant.
Ensinnäkin, valitse indikaattorit yrityksen mukaan
Differentindicatorsshouldbedeterminedaccordingtodifferentobjects.Generally,multinationalcompanies,largeenterprises,parentcompanies,etc.ordecisionmakersneedcomprehensiveanalysisindicators.DuPontanalysisandWallweightingmethodcanbeusedtosynthesizetheindicatorsforanalysis.Anindicatorcontainsmultipleinformationaboutthecompany'sdebtrepayment,operation,andprofitability.Analysisofspecificindicatorsisapplicabletobranches,smallandmedium-sizedenterprises,subsidiariesorinvestorsandcreditors.Inresponsetotherequirementsofdifferentfinancialinformationdemanders,specificselectionofsolvencyanalysisindicators,operatingcapacityanalysisindicators,profitabilityanalysisindicators,developmentabilityanalysisindicators,etc.shouldbeselected.Weshouldnotblindlyapplyindicatoranalysismethodsregardlessofthetargetandchooseindicatorsthatdonotreflectthecharacteristicsoftheenterpriseasfinancialanalysisindicators.
Therearenearly30financialanalysisindicatorspromulgatedbytheMinistryofFinance,butthegeneralanalysisofaspecificcompanydoesnothavetobecomprehensive.Generalcompaniescanchoosecommonlyusedreturnonnetassets,returnontotalassets,mainbusinessprofitrate,costandexpenseprofitrate,totalassetturnoverrate,currentassetturnoverrate,accountsreceivableturnoverrate,asset-liabilityratio,quickmove10representativeindicatorssuchasratioandcapitalaccumulationrate.
Toiseksi, valvo tiukastimittarien laskentaa
⒈Understandthecalculationprocessofindicatorgeneration.Afterthecomputerizationofaccountingentersdailywork,thefinancialindicatordataisautomaticallygeneratedbythecomputer,andthecalculationprocessofmanyindicatorsisignored.Iftheindicatorfluctuatesgreatly,theresultofthecalculationwillbeinaccurate.Forexample,thetotalassetturnoverrate,ifthevolatilityofthecapitaloccupationislarge,theenterpriseshouldusemoredetaileddataforcalculation.Forexample,thecalculationisbasedonthemonthlycapitaloccupationamount,andthearithmeticaverageatthebeginningandendoftheperiodcannotbeusedastheaverageassets.Ifyoudon'tunderstandthecalculationprocessofindexgeneration,youdon'tunderstandtheconstituentfactorsoftheindexandthemanagementproblemsembodiedbyeachfactor,soitisimpossibletofindthedirectionofcontrolandfilteroutunrealfactors.
⒉Theindicatorsofeachperiodforcomparisonmustbeconsistentincalculationcaliber.Forexample,whencalculatingtheinventoryturnoverrate,thecaliberoftheinventoryvaluationmethodofdifferentperiodsordifferententerprisesmustbeconsistent,andthemainbusinesscostofthenumeratorandtheaverageinventoryofthedenominatormustbecorrespondingintime,otherwiseitwillnotbepossibletocompare.
⒊Eliminatetheimpactofincidentalitems,sothatthedatausedasananalysiscanreflectthenormaloperatingconditions.Forexample,aftertheyear-endauditofacompany’sfinalaccounts,itisoftennecessarytoadjustthenumberatthebeginningoftheyearorthecurrentperiod.Iftheadjustednumberinvolvesseveralyears,theimpactnumberbeforethepreviousyearshouldbeexcludedwhentheanalysisisperformed,sothattheindicatorscanreflectthecompany’scurrentyearandlastyear’sfinancialaffairs.Andtheactualsituationoftheoperatingconditions.
⒋Appropriateuseofsimplifiedforms.Forexample,ifthetotalamountofaverageassetsisdetermined,ifthecapitaloccupancydoesnotfluctuatemuch,thearithmeticaverageatthebeginningandendoftheperiodcanbeused,andthereisnoneedtousemoredetailedcalculationdata.
3.Julkiset standardit ovat tieteellisiä
Thefinancialanalysisprocessneedstouserecognizedscientificstandardstoevaluatecurrentindicators.Generallyused:①predeterminedgoals,suchasbudgetindicators,designindicators,quotaindicators,theoreticalindicators,etc.;②historicalstandards,suchastheactuallastperiod,thesameperiodlastyear,thehistoricaladvancedlevel,andtheactualleveloftypicalsignificanceintheperiod,etc.;③industrystandards,Suchasthetechnicalstandardspromulgatedbythecompetentauthorityorindustryassociations,theadvancedlevelofsimilarenterprisesathomeandabroad,theaveragelevelofsimilarenterprisesathomeandabroad,etc.;④Recognizeddomesticandinternationalstandards.
Thechoiceofgenerallyrecognizedstandardsshouldnotonlypayattentiontotheadoptionofrecognizedstandards,butalsodependsonthetargetofservice.Businessownersconsidermorehowtoenhancetheircompetitiveness,emphasizingthecomparisonwiththesameindustry,thegovernmenteconomyWhileconsideringeconomicbenefits,managementagenciesmustalsoconsidersocialbenefits,andgenerallyadoptrecognizeddomesticandinternationalstandards.Italsodependsonthetypeofcompany.Comparedwithsimilarcompanies,non-comparablecompaniesarenotcomparable.
Neljä, useita menetelmiä analysoida
⒈Payattentiontotheuseofabsolutevaluecomparisonandrelativevaluecomparison,andmulti-directionalcomparisonofpositiveandnegativeindicatorsfortheindicatorsofthesameperiod,whichcanbeobservedfromdifferentangles.Forthefinancialandoperatingconditionsoftheenterprise,thecross-checkingrelationshipbetweenindicatorsshouldbeappropriatelyselected.Forexample,ifthecompany’sassetturnoverisfast,itsoperatingcapacityisstrong,anditsprofitabilityiscorrespondinglystrong,itispossibletoobservewhethertheincreaseordecreaseoftheinverseindicatorofoperatingcapacityandthepositiveindicatorofprofitabilitycorrespondtothechangesintheincrease/decreaserate.
⒉Combiningmodelanalysisandkeyanalysis,findouttheindicatorswithbigchangesfromthemodelanalysis,applytheexceptionprinciple,makeakeyanalysisofacertainindexwithsignificantchanges,andstudythecauses,Inordertotakecountermeasuresandprescribetherightmedicine.
⒊Whenadoptingmultipleanalysismethodssuchascompositionratio,efficiencyratio,correlationratio,etc.,thechilditemandparentitemofthecalculatedratiomustbecorrelated.Inthecompositionratioindicator,someindicatorsmustbesub-itemsoftheoverallindicator;intheefficiencyratioindicator,theremustbeacausalrelationshipbetweeninputandoutput.Forexample,themainbusinessprofitrateistheratioofthemainbusinessprofittothemainbusinessincome,andtheratioofthetotalunavailableprofittothemainbusinessincome;amongtherelevantratioindicators,thetwocomparativeindicatorsmustreflecttherelevanceofeconomicactivities.Ifthecurrentratioistheratioofcurrentassetstocurrentliabilities,long-termandcurrentindicatorscannotbecompared.
⒋Tulisi kiinnittää huomiota tekijöiden analyysin käyttöön:
Thefirstistherelevanceoffactordecomposition,andthefactorsthatconstituteeconomicindicatorsmustbeabletoreflecttheinternalreasonsforthedifferencesintheindicators.
Thesecondistheorderoffactorsubstitution,otherwisedifferentcalculationresultswillbeobtained.
Thethirdisthecontinuityofsequentialsubstitution.Onlybymaintainingthecontinuityofthecalculationprocedure,canthesumoftheinfluenceofvariousfactorsequalthedifferenceoftheanalysisindexchanges.Forexample,thevarianceofmaterialcostiscomposedofthreefactors:productoutput,unitproductmaterialconsumption,andmaterialunitprice.
Theorderofsubstitutionshouldbetheactualquantityinsteadoftheplannedquantityintheaboveorder,andachainofsubstitutionisindispensable.Thefourthisthehypotheticalnatureofthecalculationresults.Becausethesubstitutionorderaffectsthesubstitutionresult,thecalculationresultmustbebasedonassumptions.Onlylogicalandeconomicallymeaningfulassumptionscanreflectthevalidityoftheanalysis.Asintheaboveexample,thefactorassumptionisbasedontheinfluencefrominternaltoexternalfactors,andthedifferenceinmaterialcostchangeshasbeendetermined.
⒌Payattentiontothedialecticalrelationshipexistinginfinancialindicators,thatis,positiveindicatorsarenotasbigaspossible,andnegativeindicatorsarenotassmallaspossible.Ifthequickratioisapositiveindicator,thelargerthebetter,butitisgenerallybelievedthatthequickratiooflisasafetystandard.Becauseifthequickratioislessthan1,thecompanymustfaceagreatdebtrepaymentrisk;ifthequickratioisgreaterthan1,althoughthesecurityofdebtrepaymentishigh,itwillbecausedbytheexcessiveuseofcorporatecashandaccountsreceivablefunds.Greatlyincreasetheopportunitycostoftheenterprise.
Hyödyt ja haitat
Traditionalperformanceevaluationmostlyusesfinancialindicators,anditissimpleandcleartousefinancialindicatorstoevaluateperformance.
However,onlyusingfinancialindicatorstoevaluatetheperformanceofmanagershasthefollowingshortcomings:
⑴Financialindicatorsfacethepastanddonotreflectthefuture,whichisnotconducivetoevaluatingthecompany’sabilitytocreatefuturevaluePerformance.
⑵Financialindicatorsareeasytobemanipulated,andtheexcessiveemphasisonaccountingprofitsincorporatefinancialreportshascausedcorporatemanagementauthoritiestousevariousmethodstomanipulateprofits.
⑶Financialindicatorsmainlycomefromfinancialstatementdata,anddonotincludemostofthefactorsthataffectthecompany'slong-termcompetitiveadvantage,suchasproductquality,employeequalityandskills,andcannotreflectthebusinessprocessandcustomersatisfaction.