外文相关文献翻译

1、浙江大学城市学院毕业论文 外文翻译财务报表分析所有财务报表基本上是历史上的历史文献。他们告诉了在一段特定时期发生了什么事情。然而，大多数财务报表的使用者在关注未来将发生什么。股东关心的是未来收益和股息。债权人关心的是公司未来偿还债务的能力。经理关心的是公司未来扩张的融资能力。尽管财务报表也是一种历史文献，它们仍然可以提供有关这些问题的所有有价值的信息。财务报表分析涉及预测公司财务健康的主要财务报表数据。这可以通过检查主要金融数据的趋势，比较各公司财务数据，分析关键财务比率来完成。经理们也广泛关注财务比率。首先比率能提供本公司及其业务部门运行如何的指标。这些比率通常被使用于平衡的记分方法。所选择

2、的具体比率取决于公司的战略。例如，一个公司要强调关于客户可能会密切监察存货周转率。由于管理者必须向股东报告，并可能想从外部筹集资金来源，管理人员必须重视这样的财务比率被使用于外部存货来评估公司的投资潜力和信誉的。虽然财务报表分析是一个非常有用的工具，它有两个限制。这两个限制涉及到公司之间财务数据的可比性，以及比率以外的需要。一个公司与另一个公司的比较可以提供关于一个组织财务健康的有价值的线索。不幸的是，公司之间的某个时候的会计方法的差异使公司的财务数据难以比较。例如，如果一个公司的价值采用后进先出法，另一公司采用平均成本法，这样直接比较财务数据能会产生误导，如两个公司之间的存货估值和商品销售成

3、本的比较。否则，分析师应该牢记做出任何明确的结论之前的数据缺乏可比性。然而，即使有了这个限制，与其他公司和行业平均水平比较主要比率时经常建议作进一步的调查。一个没有经验的分析师可能认为比率本身就足以作为对未来判断的依据。没有什么比这更远离真理了。基于比率分析上的结论必须被视为暂时的。比率不应该被看作是一个结束，而是应作为出发点看，作为追求更深入的指标。他们可能提出问题，但他们很少回答自己提出的任何问题。除了比率，其他来源的数据应该被进行分析，以便使有关组织对未来做出判断。分析师应该看这些，例如行业的发展趋势，技术变化，消费者口味的变化，广泛的经济因素的变化，以及公司本身的变化。一个关键管理职位

4、近期的更改，例如，可能提供一个对未来乐观的基础，尽管该公司过去的表现可能已经平庸。一些在财务报表上出现的数字对于他们本身而言有很大的意义。这对于在财务报表分析中很重要，可能关系到另一个数字和金额，以及随着时间推移的改变方向。分析师对信息关系的分析重点在哪里？分析师如何挖掘出重要的发展趋势和公司改变的信息？三种分析技术被广泛使用;报表上美元和百分比的改变，共同比财务报表和会计比率financial statement analysisall financial statements are essentially historically historical documents. they t

5、ell what has happened during a particular period of time. however most users of financial statements are concerned about what will happen in the future. stockholders are concerned with future earnings and dividends. creditors are concerned with the company's future ability to repay its debt

6、s. managers are concerned with the company's ability to finance future expansion. despite the fact that financial statements are historical documents, they can still provide valuable information bearing on all of these concerns. financial statement analysis involves careful selection of data fro

7、m financial statements for the primary purpose of forecasting the financial health of the company. this is accomplished by examining trends in key financial data, comparing financial data across companies, and analyzing key financial ratios. managers are also widely concerned with the financial rati

8、os. first the ratios provide indicators of how well the company and its business units are performing. some of these ratios would ordinarily be used in a balanced scorecard approach. the specific ratios selected depend on the company's strategy. for example a company that wants to emphasize resp

9、onsiveness to customers may closely monitor the inventory turnover ratio. since managers must report to shareholders and may wish to raise funds from external sources, managers must pay attention to the financial ratios used by external inventories to evaluate the company's investment potential

10、and creditworthiness.although financial statement analysis is a highly useful tool, it has two limitations. these two limitations involve the comparability of financial data between companies and the need to look beyond ratios. comparison of one company with another can provide valuable clues about

11、the financial health of an organization. unfortunately, differences in accounting methods between companies sometime makes it difficult to compare the companies' financial data. for example if one company values its inventories by the lifo method and another firm by average cost method, then dir

12、ect comparisons of financial data such as inventory valuations are and cost of goods sold between the two firms may be misleading. otherwise, the analyst should keep in mind the lack of comparability of the data before drawing any definite conclusion. nevertheless, even with this limitation in mind,

13、 comparisons of key ratios with other companies and with industry averages often suggest avenues for further investigation. an inexperienced analyst may assume that ratios are sufficient in themselves as a basis for judgment about the future. nothing could be further from the truth. conclusions base

14、d on ratio analysis must be regarded as tentative. ratios should not be viewed as an end, but rather they should be viewed as a starting point, as indicators of what to pursue in greater depth. they raise may questions, but they rarely answer any question by themselves. in addition to ratios, other

15、sources of data should be analyzed in order to make judgments about the future of an organization. the analyst should look, for example, at industry trends, technological changes, changes in consumer tastes, changes in broad economic factors, and changes within the firm itself. a recent change in a

16、key management position, for example, might provide a basis for optimism about the future, even though the past performance of the firm may have been mediocre. few figures appearing on financial statements have much significance standing by themselves. it is the relationship of one figure to another and the amount and direction of change over time that are important in financial statement analysis. how does the