财务报表分析的外文文献

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系别。.。.。。.。。. 管理信息系

专业财务管理

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外文出处hｔtｐ:／／ｉｓhａre．iaｓk．ｓina.cｏm．cn/f／22３23844.html?ｆrom＝lｉke

附件1。原文；2。译文

２012年３月

1.原文

Financｉal statｅmeｎtａnaｌysiｓ— tｈｅuｓe ｏf fｉnａ

ncial accounting ｉnfｏrmａtiｏn

。

Manyｙｅars．Ｒｅasｏnable minｉmuｍcｕrｒent raｔｉo was ｃo ｎfirmｅｄas 2。00。Until ｔhｅmｉd－1960s, the tyｐｉcal ｅnterprｉsｅwill ｆloｗratｉo conｔrol aｔ2．00 or highｅr。Since thｅn，maｎy companiｅs tｈｅcurｒenｔｒatiｏbelow 2.00 nｏw, manｙcompanｉes can nｏｔｃontｒｏl tｈe currｅｎtｒａｔｉoｏｖer2。００。This shows th ａt ｔhe liqｕidity of many companｉeｓon tｈe dｅcline.

In thｅａｎaｌyｓｉs of an enterpｒｉsｅ’ｓlｉquidity rａｔio，it i ｓｎeceｓｓａry tｏａvｅragｅcurｒeｎt ratｉo witｈtｈe industry ｔo comparｅ．In some inｄustriｅｓ，the cｕｒｒenｔratｉo beloｗ2。0is ｃoｎsiｄｅreｄｎorｍal，ｂut soｍｅinｄusｔrｙcｕrrent ｒatio mｕst bｅbiｇ２.00。In geneｒａl,ｔhe shorteｒthe opeｒａtinｇcycle，the ｌow ｅr ｔhe cｕrrent ratio：tｈｅloｎｇer tｈe ｏpｅrａting cycle，thｅhigher ｔｈｅcurｒent ratiｏ．

Tｈe cuｒrent ratｉo ｃoｍpａreｄto ｔhｅsａｍe enｔｅrprise ｉｎdiｆｆerent periods,and cｏmｐareｄｗiｔh ｔｈe iｎdustry ａveraｇｅ，will ｈｅｌｐto drｙto dｅterｍine ｔhe higｈor ｌow curｒｅｎt rati ｏ．Thisｃｏmｐａｒisoｎdoｅsｎot explａin why or whｙlow．We

caｎｆinｄoｕt tｈe reasons ｆｒｏm ｔhe bｙ-poｉｎt ａnalｙｓｉs ｏf t ｈe curreｎtａssets ａnd cｕrrent liａｂｉlitｉes。The ｍain rｅａsｏn for the eｘcepｔiｏn of the cuｒrent ｒatｉo shoｕｌd bｅｔo fiｎd out the ｒesuｌts of a dｅtａiled aｎalyｓis of acｃounts ｒeceivable ａnd inｖentory.

Fｌow ratiｏbetter ｔhａn wｏｒkinｇｃapitａl ｐerｆoｒmaｎce oｆenterpriｓe shorｔ—term solvency．Ｗoｒking capiｔaｌreｆlect onlｙcurrenｔaｓｓeｔs ａnｄcurｒent ｌiabilitｉeｓ，ｔhｅaｂsolｕte ｎu ｍbeｒof diｆferences. Tｈe cｕｒrent ratio is ａlso consｉderｅｄtｈe relati ｏnshipｂeｔween the cuｒｒeｎt asseｔsize ａnd thｅsiｚｅofｔhe cur ｒent liabilｉties, ｍaｋe ｔhｅindｉcａtoｒs ｍorｅcompaｒabｌe. For ｅx ａmplｅ，ｔhe cｕrｒeｎt ratio ｂｅtween Genｅral Motorｓand Ｃhｒysｌｅr Ｍotors Corpｏrａtioｎ．Ｔhe ｃｏｍpariｓoｎbｅtｗｅen the tｗo ｃompaniｅｓwoｒkinｇcaｐiｔaｌｉs meａninｇless，becausｅthｅtwo comｐanies of diffeｒｅnt sｉzeｓ.

Inveｎtｏry using LＩFＯＦｒaｎｃｅwill ｆlow ratｉo cause problems，ｔhis is bｅcauｓe the stｏck is undervａlｕeｄ。Theｒeｓult wilｌbe ｔoｕndｅrestiｍate the cuｒｒenｔraｔio.Therefoｒｅ，wｈen comparｅd to using tｈe LIＦO methｏｄbusinｅｓsｅs and other ｃｏｓts of t ｈeｅnｔerprisｅshoulｄpay pａrtｉｃular attentｉｏｎto ｔhiｓ。

Compare tｈｅcurreｎt rａtio，ａｎaｌyｓtｓshould calcｕlate tｈｅaｃcoｕnｔsｒeceｉvable turnｏveｒrate aｎd cｏｍmoｄiｔy iｎvenｔｏry ｔuｒnoｖｅr. Ｔhis calｃuｌation ｅnａbles thｅanalysis of proposｅd ｌiｑ

uiｄity problems exist in shouｌd

Ｒeｃeived the vｉews of the accounts and(oｒ）Ｉnveｎtorｉｅs。Views or opｉnioｎs on the ｃurｒent raｔioｏf accountｓreceivablｅanｄthe deｐosit will ａｆfｅｃｔｔhｅanaｌyst. Ｉｆtｈｅreceivａｂles I reｃｅiｖａｂle and liquidｉｔｙproblems, ｒｅｑuｉｒｅcuｒｒentｒatio higｈｅr．Third，thｅaｃid teｓt rａｔiｏ（ｑuｉck rａtio)

Tｈe current ｒatio ｉs theｅvaluatioｎof tｈe ｌｉqｕidiｔy coｎｄitｉoｎｓｉn the current ａssets aｎd ｃurrent liaｂiｌitｉes．Oｆｔen，people eｘpeｃｔｔo get mｏre immｅdiａtｅthan ｔhe cuｒreｎtｒatio reflect tｈe sｉtuａtｉon. The acid tｅsｔｒaｔio（liquid rate) on tｈe relatｉｏｎsｈip of current assetｓｔo curｒeｎtｌiabｉlities.

To cａlｃulate tｈe acid test （quｉck）ratｉo．From ｔｈe cuｒrenｔasｓetｓｅxclｕdinｇｉｎｖentorｙｐarｔ．Thiｓｉs ｂecaｕse of ｔhe slｏｗｆlow oｆinvｅnｔory,tｈe inｖentory may be ｏbsoletｅｉnvenｔorｙmay alsｏbeｕseｄas ａspecific credｉtoｒ's securiｔｙ. For exａmple, the winｅry's proｄｕcｔs to Ｔibet for a lonｇperiｏd ｏｆｔime beｆｏre sｏld．If yｏu calcuｌaｔｅthe acid test （liquid）tｏinclｕdｉng ｗiｎｅobstrｕct inｖentory will ovｅrestimaｔｅｔｈe eｎterｐrise mobilitｙ. Inventory vａｌuation，because the cｏst ｄata may ｂｅreｌatｅｄto t ｈe cｕrreｎt ｐrice ｌevel ｄifferencｅ。．．

Sｅction VI anaｌytｉcalｓcreｅniｎｇｐｒoceduｒｅs