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财务报表分析之我见时两要】财务报表是揭示企业财务信息的基本手段,是财务报告的核心随着我国市场经济的发展和不断完善,人们日益认识到财务报表分析的重要性通过分析财务报表,能评价企业过去的经营成果、衡量企业目前的财务状况并预测企业未来的发展趋势因此,对财务报表的使用者来说,分析利用好财务报表显得至关重要但由于传统的、常用的财务报表分析存在一定的局限,这给我们正确理解财务信息造成一定的障碍本文针对我国现行财务报表分析存在的局限性,探讨其解决对策,以期为完善和发展我国的财务报表分析体系提供新的思路和方法【关键词】财务报表分析方法局限性对策建议
一、财务报表分析概述财务报表分析是指以财务报表和其他资料作为依据和起点,采用专门方法,系统分析和评价企业的过去和现在的经营成果、财务状况及其变动,目的是了解过去、评价现在、预测未来,匡助利益关系集团改善决策财务分析的基本功能是将大量的报表数据转换成对特定决策实用的信息,减少决策的不确定性财务分析的方法有比较分析法和因素分析法,其中,比较分析法中财务比率的比较是最重要的分析,它们通过相对数比较,排除了企业规模的影响使不同比较对象在不同时期和不同行业之间建立起可比性,反映了各会计要素之间内在联系企业基本的财务比率可以分为四类即变现能力比率、资产管理比率、负债比率和盈利能力比率不同的财务比率在企业的财务管理中发挥着不同的作用
(一)变现能力比率主要有流动比率和速动比率,通过对这些比率的计算和分析,用以评价企业变现的能力和反映企业的短期偿债能力,它取决于企业可以在近期转变为现金的流动资产的多少
(二)资产管理比率包括营业周期、存货周转率、应收账款周转率、流动资产周转率和总资产周转率这些比率是用来衡量企业资产管理效率的重要财务比率
(三)负债比率主要包括资产负债率、产权比率、有形净值债务率和已获利息倍数通过报表中有关数据计算这些比率来分析权益与资产之间的关系,分析不同权益之间的内在联系,用以评价企业的长期偿债能力drop and so on.Therefore,when carry on the financial analysis and theappraisal,the singletargetcannot showthe question,must actaccording tosome targetthe influencewhich possiblyproducesto otheraspects tocarry on the generalizedanalysis,can drawthe correctconclusion.In brief,the financial analysis is to the enterprise omni-directional,systems analysis,mustconsider thateach kindof possibilitythe influencingfactor,removes variousfactors to the fiscalstatementinfluence,only then can achieve the financial analysis like the goal,meets allquartersrelated benefitneed.
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4.1mprove the statement analysis staffs5overall qualityIn the statement analysis process,the financial analysisstaffplayed thevital role.Themanagement shouldimprove the statement analysispersonnefs overallquality comprehensivelyfromthe followingseveral aspectmanpower:
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4.1takes seriouslyto businessfinance analysis staffs,education training,strengthens itsfinancialaccounting,the economic,statistics,the businessmanagement and the marketmarketingand so on variousdisciplines study,improves theircomprehensive professionalquality,enables itstoexplain thereport formcomprehensively,and makes the correctjudgment accordingto thestatement analysis result,makesthe analysis staffsto enhancegradually in the workto thequestionanalysis ability and judgmentability.342Encourages the financialanalysisstaff tograsp eachfinancialanalysissoftware and theanalysis toolskills,during enhancementworking efficiency,assists itto obtain the correctanalysisresult.
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4.3Strengthens accountantthe occupationalethics education,sets upthe correctanalysisidea,provides thereal reliablereference for the enterprisesuperintendents managementinvestmentdecision.
二、财务报表分析中存在的问题-财务报表分析人员存在的局限性一方面,财务分析人员的分析能力存在差异由于财务报表分析人员的业务素质和能力水平存在差异,不同的分析人员在财务报表分析的相关理论、分析方法和解读财务报表等各方面知识的掌握程度不同,导致其对分析指标计算结果的理解和认识浮现差异,这势必会影响报表分析的结果另一方面,进行财务报表分析时,还存在人为控制分析指标的可能性通过采用不同的计算方法得出不同的分析指标,以达到粉饰企业经营业绩的目的二财务报表分析方法存在的局限性财务报表分析方法有比较分析法、比率分析法、趋势分析法以及因素分析法等,这些方法各自有其优越性,但同时也存在着局限性、比较分析法由于不同企业间、同一企业的不同时期情况各异,在比较分析时其数据难免会缺乏可比性、比率分析法财务比率是由两个相关项目相比而得到的相对数,事实上影响该项比率的因素有不少,不能仅仅用两个项目表达出来,以致分析时难以全面衡量、趋势分析法是与企业以前年度纵向比较的结果,得出的发展趋势是以以前年度为参照,然而过去的状况并不一定是合理的所以分析的结果难免浮现偏差、因素分析法用此方法进行分析时,需注意分析的相关性、替代的顺序性、前提的假定性、替代的连环性等问题,可见其合用范围存在诸多限制,且需要人为的逻辑判断,于是存在一定的局限性三财务报表分析指标存在的局限性在现行的财务报表分析体系中,主要根据财务分析指标对企业的经营状况进行分析,为管理者经营决策提供参考依据但是,由于报表在信息披露方面存在局限性,使得财务报表分析难以全面化、系统化而且,随着市场经济的不断发展,现有的指标体系已经不能全面反映企业的经营状况,一些对企业有重大影响的非财务指标没有包括在内,如市场份额、产品质量和服务指标、人力资源指标、潜在盈利能力和持续盈利能力指标等虽然这些指标在会计计量和核算方面还存在一些艰难,但这些指标对企业经营管理决策的影响日益重要,如果不能充分揭示,就难以全面反映企业的软实力和经营状况
(四)财务报表本身的局限性、现行财务报表所提供的财务信息主要反映已发生的历史事项,它与使用者决策所需要的有关未来信息的相关性较低由于财务报表是报告历史事项,财务分析是对过去事项的检验,于是这些信息无论何时运用于决策过程中,都存在着一个重要假设,即过去是预测未来的合理基础、现行财务报表主要反映能用货币计量的信息,而无法反映许多对企业财务状况和经营成果产生重大影响的重要信息,如企业的人员力资源状况、市场占有率等信息稳健原则要求估计可能的损失而不估计可能的收益,有可能夸大费用、少计资产和收益,而使报表数据不实正是由于财务报表存在着这些局限性,于是在进行财务分析时,必须首先确定财务报表本身信息的可靠性,否则难以真正实现财务报表分析的目的
三、具体对策建议
(一)对财务报表本身的改进对于历史成本的会计计量而言,我们不能彻底摒弃,但是应当加以改进一是加快提取折旧的速度,尽量缩小历史成本与现行成本的距离,到原有资产的保值,减少企业的损失;二是实行现行成本计价,改变传统的成本计价方法,使账面价更加接近现实价,缩小实际价值与变现价值的距离,增强企业财务报表的真实性(-)财务报表分析指标的改进首先,对于速动比率指标,凡是快速变现资产能力较强的都可以归入速动资产项目,所以可以用企业的货币资金、短期证券、应收票据、信誉好客户的应收账款或者账龄小于年的应收账款,若企业的产品比较畅销,变现能力很强,还可以加之存货中产成品等作为速动资产,来计算企业的速动比率指标,则更能准确衡量企业快速变现资产的能力其次,对于流动比率指标,可以剔除不能变现的预付账款、预付费用等及流动性较差的且长期滞销而没有计提存货减值准备的存货和不良应收账款,来计算企业的流动比率,使之更能准确真正的反映企业的短期偿债能力再次,对于现金比率指标,反映即时付现能力,也是表明企业最坏情况下短期偿债能力如何的指标,应该包括货币资金和保持短期投资状态的短期投资净额交易性金融资产,而剔除短期股票投资套牢而转化为事实上的长期投资普通来说现金比率重要性不大,因为不可能要求企业用现金和短期证券投资来偿付全部的流动负债,但是当企业应收账款、存货的变现能力存在问题时,现金比率就显得很重要了
(三)对财务报表分析方法体系的改进、坚持定量分析与定性分析相结合现代企业不仅面对国内环境还要面对复杂多变的国际环境,这些外部环境有时很难定量,但会对企业财务报表状况和经营成果产生重要影响,比如会计报表外部信息等因此,我们在定量分析的基础上,需做出定性的判断,要充分发挥人员的丰富经验和量的精密计算两方面的作用,两者相互作用可使报表分析达到最优化,更好地反映真实情况,获得决策实用的信息、坚持动态分析和静态分析相结合我们所看到的信息资料,特殊是财务报表资料普通是静态的反映企业过去的或者历史的经营情况,而企业的生产经营业务和财务活动是一个动态的发展过程,因此要进行动态分析,在了解过去情况的基础上,分析当前情况的可能结果对恰当预测企业未来有一定的匡助、坚持个别分析与综合分析相结合要全面地看问题,而不是孤立片面地只看到个别财务指标的高与低,就得出好与坏的结论财务指标数值具有相对性,同一指标数值在不同的情况下反映不同的问题,甚至会得出相反的结论比如,资产运用效率中的应收账款周转率指标越高,一方面反映企业平均收账期越短,应收账款的收回越快,收账的效率高、质量好;而另一方面也可能是由于企业的信用政策过于严格所致,这也会给企业带来负面影响,丧失部份机会成本,使市场占有率下降等因此,在进行财务分析和评价时,单个指标不能说明问题,要根据某指标对其他方面可能产生的影响进行综合分析,才干得出正确结论总之,财务分析是对企业全方位的、系统的分析,必须考虑各种可能的影响因素,排除各因素对会计报表的影响,惟独这样才干达到财务分析的目的,满足各方相关利益者的需求四提高财务报表分析人员的综合素质在财务报表分析过程中,财务分析人员起到了重要的作用管理层应从以下几个方面人手,全面提高财务报表分析人员的综合素质、重视对企业财务分析人员的教育培训,加强其财务会计学、经济学、统计学、企业管理和市场营销等各学科的学习,提高他们的综合业务素质,使其能够全面解读报表,并根据财务报表分析结果做出正确的判断,使分析人员在工作中逐步提高对问题的分析能力和判断能力、鼓励财务分析人员熟练掌握各种财务分析软件和分析工具,在提高工作效率的同时,协助其得出正确的分析结果、加强会计职业道德教育,树立正确的分析理念,为企业管理者的经营投资决策提供真实可靠的参考依据The statement analysis inmy thoughtAbstract:The financial reporting is the essentialmethod topromulgate thebusiness financeinformationand thecore offinancialreport.Along withour countrymarket economysdevelopmentand consummates unceasingly,the peoplerealize to the importanceof the statement analysisdayby day.Through the analysis financial reporting,can appraisethe pastmanagement performanceofenterprise,can weightpresent financialsituation of enterprise,can forecastsfuture developmenttrendof the enterprise.Therefore,to financial reportings users,to analysis and uses the financialreportingwell is very important.But asa result of traditional,commonly usedstatement analysisexistencecertain limitation,it createscertain barrierfor usto correctunderstanding financeinformation.This articlein viewof ourcountry present statement analysisexistences limitation,discusses itscountermeasure solution,as toprovide thenew mentalityand themethod toconsummateand developour countrysstatement analysis system.Keyword:Statement analysis,method,limitation,suggestion
1.outline ofstatement analysisThe statement analysisis refersto takesthe basis and thebeginning bythefinancial reportingand othermaterial,usesthespecial method,system analysisand theappraisal enterprisespast andpresentsmanagement performance,thefinancialsituation and the change,the goalwill betounderstand the past,appraisal now,the forecastfuture,helped the interest relationsgroup improvethedecision-making.The basicfunction offinancialanalysisistotransform themassive report datato theuseful informationfor specificdecision-making,reduces theuncertainty ofthe policy-makingFinancial analysis methods Includingthe comparison analytic method and the factor analyticmethod,compared with the analytic method infinancial ratio*s comparisonisthemost importantanalysis,They through the comparisonof relativenumber,removed the enterprise sizeinfluence tocause the differentcomparison objectestablish thecommeasure abilitybetween the different timeand the differentprofession,reflected theinner linkbetween theessential factorin eachaccountant.The basicfinancial ratioofenterprisemay divideinto fourkinds:Namely cashability ratio,assetmanagement ratio,debt ratio and profitability ratio.The differentfinancial ratio is playingthe differentrolein enterprisesfinancial control.
1.1Cash abilityratioMainly has the current ratioand the quick ratio,through to these ratioscomputation and theanalysis,with appraises the enterpriserealization abilityand the reflection enterprisesshort-termcredit capacity,it willbe decidedin howmany cashcurrent assetsthe enterprisemay transforminthe nearfuture into.
1.2Asset managementratioIncluding businesscycle,goods in stock cycling rate,account receivablecycling rate,currentassets cyclingrate and total assetscyclingrate.These ratiosare importantfinancial ratiosto useforto weighenterprise assetsmanagerial effectiveness.
1.3Debt ratioMainlyincludes the property ratioof debtto net worth,the equityratio,the visiblenetworthdebtrate and theinterestmultiple hasattained.To calculatesthese ratiosthroughthereport form,thenanalyze therelated databetween therights and interests and thepropertyrelations,analysis innerlinkbetween the different rightsandinterests,with appraisescapacity of enterprises long-termcredit.2Inthe statement analysisexist question
2.2Thestatement analysis staffsexist limitationoneside,the statement analysisstaffsanalysis abilityexistence difference.As aresultofthestatement analysispersonnefs professionalquality andability levelexistence difference,thedifferent analysisstaffs graspthe degreeto bedifferent instatement analysisscorrelation theories,theanalysismethod and the explanationfinancial reportingand so on variousaspects knowledge,cause itto analyzethe targetcomputed result the understandingandtheunderstanding have thedifference,this willaffect the resultthestatementanalysisinevitably.On the other hand,whencarries on thestatementanalysis,but also has the possibility artificialoperation analysis target.Through usesthedifferentcomputational methodto obtain thedifferentanalysis target,achieves thegoalto plasterstheenterpriseoperating results22Statement analysismethod existencelimitationThe statementanalysismethodincludes thecomparisonanalyticmethod,the ratioanalyticmethod,the tendencyanalyticmethodas wellasthefactor analyticmethodand so on,thesemethods haveits superiorityrespectively,but simultaneouslyalsohas the limitation.221Compared withanalytic methodBecausesituation variesbetween thedifferent enterprise,,during the identical enterprisesdifferenttime,when comparativeanalysis itsdata willlack thecommeasure abilityunavoidably.
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1.2Ratio analyticmethodThe financialratio isthe relativenumber whichcompares bytwo relatedprojects obtains,in factaffectsthis ratiothefactorto havemany,cannot justuse twoprojects toexpress merely,whenanalyzes weighscomprehensively withdifficulty.
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1.3Tendency analyticmethodThis isresult whichwith theenterprise the previous yearlongitudinal comparison,obtained thetrendof developmentwas takethepreviousyear asthe reference,however pastcondition wasnotnecessarily reasonable,therefore theanalysis resultpresented thedeviation unavoidably.
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1.4factor analyticmethod.When withthis methodto Carryon theanalysis,must payattention to theanalysisthe relevance,the substitution,the premisehypothesis,substitution seriesquestions andsoonorder,obviously itsapplicablescope hasmany limits,and needsthe artificiallogical judgement,thus hascertainlimitation.
2.35tatementanalysistarget existencelimitationIn the presentstatementanalysissystem,mainly carriesontheanalysis accordingto thefinancial analysistargetto enterprisesstate of operation,provides thereference for thesuperintendent operatingdecisions.But,because thereport formhas thelimitation in the informationdisclosedthat theaspect,causes thestatementanalysiscomprehensively withdifficulty,and thesystematization.Moreover,along withdevelopment ofmarket econom/sunceasing,the existingindicatorsystem alreadycould notreflect enterprisesstate ofoperation comprehensively,somenon-financial normhavethe major impactto theenterprise notincluding,likethemarket share,theproduct qualityandtheservice target,the humanresources target,latent profitabilityandgaincontinually abilitytarget andsoon.Although thesetargets measureandthecalculation aspectinaccountant alsohave somedifficulties,but thesetargets areimportant tothe enterprisemanagementand operationdecision-makings influenceday byday,if cannotpromulgate fully,withdifficulty reflectsenterprises softstrength andthestateofoperationcomprehensively.
2.36inancialreportingslimitation
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36.1The presentfinancial reportingprovides thefinancial informationmain reflectionthehistorical itemhas occurred,it therelated futureinformation relevancewhich willneed withthe userdecision-making is low.Because thefinancial reportingreports thehistorical item,the financialanalysiswas examinationtothepast item,thus theseinformation wheneverutilized inthedecision-making process,has animportant supposition,namely thepast isfoundation forecastsfuturereasonable.
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36.2The presentfinancial reportingmain reflectthe informationwhich canusethecurrencymeasurement,but isunable toreflect importantinformation thatmany pairof businessfinancecondition andthe managementperformance havethemajorimpact,like informationenterprisespersonnel,transport chargessource condition,market share,andsoon.But thesteady principlerequestestimate possibleloss notto estimatethat thepossible income,to havethepossibilityto beexaggeratingthe expense,little tocount theproperty andthe income,causes thereportdatanot tobesolid.Is preciselybecause thefinancial reportinghas theselimitations,thus whencarryonthefinancialanalysis,must firstdetermine thefinancialreportingitself informationthe reliability,otherwise realizesthestatementanalysis goaltruly withdifficulty.
3.Concrete countermeasuresuggestion
3.1improve thefinancial reportingAboutmeasure speakingof historicalcosts*accountant,we cannotabandon completely,butmust performto improve:First,speeds upspeed whichthe extractionamortizes,reduces thedistancebetween historicalcosts andthepresent cost asfar aspossible,totheoriginal propertysstoreof value,reduces enterprisesloss;Second,implements thepresentcost valuation,the changetraditioncostvaluationmethod,causes theaccount facevalue tobe closertothepresent actualprice,reduces theactual valueandtherealization valuedistance,the enhancementbusinessfinance reportform authenticity.
3.25tatementanalysistarget improvementFirst,regarding the quickratio target,every abilityfast realizationproperty strongmay belongtothe quickasset project,therefore mayuse enterprisesmonetary fund,the short-term negotiablesecurities,the notesreceivable,the prestigegood customeraccount receivableortheaccount ageissmaller than1year account receivable,if enterprisesproduct quitesells well,the cashability isverystrong,but mayalso addon storesgoods thefinished productto takethequickasset,calculatesenterprises quickratiotarget,thencanweigh abilitytheenterprisefast realizationpropertyaccuratelyNext,regarding thecurrentratiotarget,may rejectprepay creditcannot therealization,theprepaid expensesandthefluidity bad,and long-term unsalablebut hasnot countedraisesthe goodsin stockdepreciation preparationthegoods instockwiththebad accountreceivable,calculatesenterprises currentratio,enables itreflect capacityofenterprisesshort-term accuratelyOncemore,regarding the cash ratiotarget,reflected paysin cashability immediately,is alsoindicatedthat howtarget intheenterpriseworst situationshort-term creditcapacity,to includethemonetary fundandtomaintain the short term investment conditiontheshortterm investmentnetamount transactionmonetary assets,but rejectsa short-term stockinvestment setof jailtotransform aslong-terminvestmentin fact.Generally speakingthe importanceof cashratioisnot big,because isimpossible torequest theenterprisereimburses thecomplete currentliability withthe cashandtheshort-term securitiesinvestment,but worksas whenenterprise accountreceivable,goodsinstock cashability existencequestion,thecashratio appearedisveryimportant.33To improvestatementanalysismethod system
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3.1insisted that the quantitativeanalysisandthe qualitativeanalysis unify.The modernenterprise not only facesthe domesticenvironment alsoto needto facethecomplicated anddiversified internationalenvironment,these externalenvironment verydifficult toquotasometimes,but hasthe materialeffect tothe conditionof businessfinance reportform andthemanagement performance,for instancefiscal statementextraneous informationandsoon.Therefore,we needto analysisfoundation inquantitative,must makethe qualitativejudgment,mustdisplay personnefsrich experienceandthequantity fullycalculates aftertwo aspectsprecisely thefunctions,both interactionmay enablethestatementanalysis toachievetheoptimization,reflectsthe realsituation well,obtains theuseful informationfor policy-making.
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3.2insisted thatthe dynamic analysisandthe verticalanalysis unify.We sawthe informationpaper,specially thefinancialreportingmaterial generallywas thestaticwhich reflectenterprise pastorthehistorical operatingcondition,but enterprisesproductionoperation serviceandthefinancial operationisadynamic developingprocess,must thereforecarryon thedynamicanalysis,inthefoundation ofunderstanding inthepastsituation,to analysiscurrentsituations possibleresult tohave certainhelp tothe appropriateforecast enterpriseinthefuture.
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3.3insisted thatanalyzes andthe generalizedanalysis individuallyunifies.Must lookatthequestion comprehensively,notonlysaw one-sidedly isolatedindividual financialnormGao Yuislow,draws goodandthebad conclusion.The financialnorm valuehastherelativity,theidenticaltarget valuereflects thedifferent questioninthedifferent situation,will drawtheopposite conclusion.For instance,intheproperty utilizationefficienc/s accountreceivable cyclingratetarget is higher,ontheone handthereflectionenterprise averagedebt collectiontime isshorter,accountreceivable^reclamation isquicker,the debtcollection efficiencyishigh,the qualityis good;But ontheotherhand alsopossibly isbecause enterprisescredit policyis toostrict istheresult,thiswill alsobring thenegative influencetotheenterprise,will losethe partialopportunity cost,will causethemarket share。