最新房地产开发企业财务风险识别与防范研究

房地产开发企业财务风险识别与防范研究

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务风险识别及防范研究

--以A公司为例

摘要

近年来，我国市场经济发展迅速，社会消费结构发生了很大调整，人们在商品房方面表现出了越来越大的需求，而房地产业具有产业关联度较强和带动能力较大等优势，已经成为我国国民经济中的一大支柱产业。在房地产行业迅猛发展的同时，其作为资金密集型行业的一种，在我国起步的时间不长，相对来说根基十分薄弱，行业规范化程度低，房地产投资存在上下产业链长，专业性强，投资额大，投资周期长，不确定性和风险程度高，受宏观政策调控影响较大的特点，这些特点决定了我国的房地产行业面临着一定的财务风险，财务风险受企业内外部因素的共同影响。现阶段，国际经济形势变化多端，而我国的行业政策调控力度也不断极大，金融政策相对收紧，对于房地产企业来说，其不得不解决的一个紧迫而现实的问题就是防范财务风险。对于房地产企业来说，其面临的财务风险主要包括筹资风险、投资风险、资金回收风险和收益分配风险四种类型，并且具有综合性、客观性、不确定性、双重性和激励性等特征。财务风险一旦爆发，势必会对房地产企业的经营管理产生十分严重的影响，甚至会导致房地产企业的破产和倒闭。因此，房地产企业应该提高自身的财务风险识别与防范能力，从而提高其管理水平，提升经济效益，促进我国房地产行业的长远发展。

本文采用理论和实例相结合的方法，从国内外研究现状出发，总结了前人在财务风险的识别与防范上的研究成果，在此基础上进行了房地产企业财务风险的识别与防范研究，首先阐述了房地产企业财务风险识别与防范理论基础，介绍了财务风险的概念及特征，并阐述了、权衡理论、投资组合理论和现代财务管理理论；其次分析了房地产企业财务风险类型及影响因素，其中，房地产企业财务风险类型主要有、房地产企业筹资风险、房地产企业投资风险、房地产企业资金回收风险和房地产企业收益分配风险；第三，讨论房地产企业财务风险识别与防范，介绍了定性、定量两种分析方法，并针对筹资风险和投资风险进行了识别，最后提出了四种风险相应的防范措施；第四，以在行业里具有代表性的A公司为例，分析了A公司面临的财务风险，具体分析了其短期偿债能力、长期偿债能力、营运能力、盈利能力、发展能力和现金流量，其次，指出了A公司风险识别的方法及财务风险防范措施，最后，提出了完善A公司财务风险识别与防范体系的建议，即完善财务风险识别体系、筹资风险防范、投资风险防范、资金回收风险防范和制定收益分配政策，希望对给其他公司的财务风险识别与防范提供一定的借鉴作用。

关键词：房地产企业财务风险识别防范

Abstract

In recent years, our country and the rapid development of market economy, great have taken place in the social consumption structure adjustment, they showed more and more in terms of commercial housing demand, industrial correlativeness degree and the real estate industry has the advantages of the strong ability and stimulate the development of large, has become one of the pillars of the industry of the national economy. In the rapid development of real estate industry at the same time, it as a kind of capital intensive industry, starting time is not long in China, the foundation is very weak, relatively low degree of industry standardization, real estate investment is up and down the industrial chain is long, strongly professional, large investment, long investment period, high degree of uncertainty and risk, and greatly influenced by the macroscopic policy, the characteristics of these characteristics determine the real estate industry in our country is facing a certain financial risk, financial risk is Shared by the enterprise internal and external factors influence. At present, the international economic situation is changing, but our country's industry has been greatly, adjusting control policy relative to tighten monetary policy, for real estate enterprises, it had to solve a pressing and realistic problems is to guard against financial risks. For real estate enterprises, the financial risk mainly includes financing risk, investment risk, capital recovery risk and income distribution risk four types, and a comprehensive and objectivity, uncertainty, duality and incentive, etc. Characteristics. Once the outbreak of financial risks, is bound to a serious impact on the real estate enterprise management, and even lead to bankruptcy and the collapse of real estate enterprises. Therefore, the financial risk of the real estate enterprises should improve their recognition and prevention ability, thus improve the management level, enhance economic efficiency, promote the long-term development of the real estate industry in our country.

This article adopts the method of combination of theory and examples, from the domestic and foreign research present situation, summarizes the predecessors' research on financial risk identification and prevention of the results, on the basis of the real estate enterprise financial risk identification and prevention research, first expounds the theoretical basis for the prevention of real estate enterprise financial risk identification and introduces the concept of financial risk and characteristics, and