现金流量表分析与应用外文翻译

1、现金流量表分析与应用【外文翻译】xx 科技师范学院 本科毕业论文（设计）外文翻译 对现金流量报表相关目标的量化分析xx 科技师范学院教务处制Quantitative Analysis of the Target Related to Cash Flow StatementWith the example of the trend analysis method applied to the cash flow statement, the authors study the quantitative analysis method of the target related to cash f

2、low statement. So the statement user can knows the current and previous financial condition in the enterprises, correctly evaluate the current and future abilities to pay and repay, find out the problems in financial affairs, and scientifically calculate the future financial conditions. An adequate,

3、 efficient basis is provided for scientific decision.1 IntroductionIt was America that first decided to replace statement of changes in financial position with cash flow statement. Afterwards, U.K., Australia, Canada and many other countries and areas followed. To emphasize cash flow statement and o

4、vercome the shortcomings of statement of changes in financial position, in January, 1987, FASB in America promulgated financial accounting standards announcementNo. 95Cash Flow Statement .It requires enterprise to replace the statement of changes in financial position with cash flow statement from J

5、uly 1988. In September, 1991, British Accounting Standard Board announced financial statement standard No.l Cash Flow Statement too, demands all enterprises.Concerned with the requirements should prepare cash flow statement. In 1992, International Accounting Standard Board announced lnternational Ac

6、counting Standards No.l ，required to replace statement of changes in financial position with cash flow statement. So now "cash flow statement", "equity-debt statement", and "profit and loss statement" have preliminarily formed the new system of financial accounting stat

7、ement in enterprise on the worldwide scale.2 Cash Flow Statement2.1 Contents of Cash Flow Statement and Its Compilation PurposeCash flow statement means statement of changes in financial position compiled based on cash and shows operating activities, investment activities and collecting capital acti

8、vities of the enterprise on account of flow-in and flow-out of cash during a certain period, and shows all aspects of flow-in and flow-out of cash. It is compiled on the cash basis of accounting and belongs to periodic dynamic statement. The basic purpose of compiling cash flow statement is to provi

9、de the information of flow-in and flow-out of cash during a current accounting period to shareholders, creditors and other users of the statement to help them correctly make assessment of:?The Capability of obtaining net cash flow during the future accounting period;?The Capability of repay debts an

10、d paying dividend;?The Capability of raising funds;.The reason for engendering the difference of net income and net cash flow; and,?Investment and raising funds activities affecting and not affecting cash during the current period.2.2 Components of Cash Flow1 Cash flow-inThere are three chief types

11、of economic services flow-in of cash: Reducing other assets except cash adding debts and adding shareholder's right.2 Cash flow- outThere are three chief types of economic services flow-out of cash: Adding other assets except cash, reducing debts and reducing shareholder's right.2.3 Classifi

12、cation of Cash FlowCash flow within a certain period is classified into the following three types on account of thenature of operation service:The cash flow of operation activities, the cash flow of investment activities and the cash flow of raising funds activities.1 Cash flow ofoperation activitie

13、sOperation activities mean the main service of an enterprise andother non-investment activities or raising funds activities. It includes:Cash flow-in of operation activities:The input of selling goods and providing labour force; the input of loan interest, stock dividend and bond interest; other inp

14、ut of not belonging to investment activities and raising funds activities.Cash flow-out of operation activities:The cash of paying to suppliers and providers of labour force; the expenditure of salary; the interest to creditor; the expenditure of tax on income and penalty.2 Cash flow of investment a

15、ctivitiesInvestment activities mean purchase and selling of long-term asset and other investments without the cape of cash equivalent. It includes:Cash flow-in of investment activities: recovering loan; selling stocks and bonds issued by other companies; selling fixed assets and other productive ass

16、ets.Cash flow-out of investment activities: providing loan to other enterprises; purchasing stocks and bonds issued by other companies; purchasing fixed assets and other productive assets including capitalized interest of asset cost .3 Cash flow of raising funds activitiesRaising funds activities me

17、an the activities to cause the scale and structure of rights and interest capital and other loan to change. It includes:Cash flow-in of investment activities: issuing stocks., bonds andbill; gaining mortgage loans and all kinds of other long-term and short-term loans.Cash flow-out of investment acti

18、vities: issuing stock interest incash; repaying loans; preceding expenditure to creditor including cash expenditure caused by extended long-term debt .2.4 Structure of Cash Flow StatementThere are two methods to compile cash flow statement: direct methodand indirect method. The structure of cash flo

19、w statement compiled by the two methods is different. This article recommendsthe basic structure of cash flow Statement compiled by direct method and usually adopted by enterprises. The basic structure of cash flow statement is composed of three parts:Cash flow of operation activities. The data need

20、ed by this part maybe found in B/S balancesheet and income sheet.Cash flow of investment activities. The information needed by thispart may be found from the change of current asset account, but the true data need to be adjusted on account of income or loss in income sheet.Cash flow of raising funds

21、 activities which may be obtained by analyzing and computing the change of relevant current liability and shareholder's rights and interests account.Non-cash investment and raising funds activities which may be discovered in the supplementary statements to show all aspects of important economic

22、activities.2.5 Compilation of Cash Flow StatementThe information that is needed for compiling cash flow statement includes: beginning balance sheet, final trial balance, other complementary data,etc. Cash flow statement is compiled on account of the original manuscript.3 Quantitative Analysis of Rel

23、evant QuotaQuantitative analysis of cash flow statement is to compare, analyze and study relevant data of cash flow statement so as to know the financial position of enterprise, find out the trouble in finance, predict the future financial position and provide the basis for scientific decision.The m

24、ethods of quantitative analysis of cash flow statement usually include trend analysis, structure analysis, rate analysis, comparative analysis and factor analysis. This article only recommendstrend analysis applied to cash flow statement.Trend analysis is an analysis method which forecasts future re

25、sultsby studying a number ofcontinual periods''- financial statement, comparing relevant program's amount of moneyand analyzing the increase and decrease of some quotas to judge its trend. Applying trend analysis, the user of statement may know the basic trend of relevant program changes

26、, judge whether thistrend is advantageous or not and predict the future development of the enterprise.Trend analysis usually computes trend percentages. There are two types of trend percentages:It is illustrated by the cash flow statement of sometelecommunication bureau. Wecompile cash flow statemen

27、t gathered from 1995 to 1998 of this bureau on account of cash flow statements from 1995 to 1998 of this bureau statement from 1995 to 1998 omitted . The form of cash flow statement and the data of this bureau in 1998 are shown as in Table 1:Table 1 Cash flow statement of a telecommunication bureauE

28、nterprise ： Year:1998 Unit:Thousands of dollarsAmountCash flow1 Cash flow of operationCash flow in:Cash from sales clients85890Other operation income12019Sub-total -f cash flow in73871Cash flow out:Paying suppliers40 871Paying interests1 287Paying other expenses19 585Paying income tax2 546Sub-total

29、of cash flow out25 119Net cash of operation48 7522 Cash flow of investmentCash flow in:Recovery of cash from investment68 000Recovery of cash relate to18 500investment activitiesSub-total of cash flow in86 500Cash flow out:Equipment purchasing66 676Sub- total of cash flow out66 676Net cash of invest

30、ment19 8243 Cash flow of raising fundsCash flow in:Cash from loan36 220Cash accepting rights and interests 15 081Sub-total of cash flow in51 301Cash flow out:Cash repayed for debts16 254Sub- total of cash flow out16 254Net cash of raising funds35 0474 Effects of exchange fluctuations on cash5 Net in

31、creased cash flow 103trendThe article only cites the data from 1995 to 1998 to compute the percentage by the trend analysis method.Table 2 The total cash flow statementEnterprise: Unit:Thousands of dollarsCash flow1995199619971998Cash income187 500203 136207 752211 672Among: cash m-68 46570 12571 53

32、273 871come of operationCash income of40 68065 42176 34586 500investmentCash income of78 35567 59059 87551 301raising fundsCash expenditure62 23379 76591 815108 049including:Cash expenditure15 90819 88022 90525 119of operationCash expenditure32 90540 89554 69066 676of investmentCash expenditure13 42

33、018 99014 22016 254Of raising fundsThe data comefromthe annualaccountantstatements from 1995 to 1997omitted .We can compute the constant relative with the year- of 1995 as the base period, see Table 3, and Link relative with previous year as the base period, see Table 4, on account of the total cash

34、 flow statement from 1995 to 1998 of this telecommunication bureau.From Table 3, we can conclude that cash flow of the enterprise continuously increases. Cash flow in 1998 was 12.89 percent more than that in 1995， among which the increase of cash income of operation activities was faster than that o

35、f general cash income and was 7.90 percent. Cash income of investment activities increases doubly and up to 112.64 percent, which shows the previous investment gradually expires and thencash income of investment activities increases; but cash income of raising funds activities doesn't increase,

36、on the contrary, 34.53 percent less than that in 1995, which shows the dependence on raising funds gradually reduces. Cash expenditure also gradually increases and cash expenditure in 1998 was 73.62 percent more than that in 1995, among which cash expenditure of investment activities increased by 57

37、.90 percent, which is slower than the general cash flow. Cash expenditure of investment activities increased by 102.63 percent, which shows cash expenditure of investment activities in 1998 was double that in 1995 and the enterprise strengthens investment. Cash expenditure of raising funds activitie

38、s has increased by 21.09 percent, which shows a huge amount of loans still don't expire or the enterprise does not issue dividends or distribute interests to investors.Table 3 Comparison of constant relative indexCashflow1995199619971998percentpercentpercentpercentCash income100108.34110.80112.8

39、9Among: cash incomeof operation 100 102.42107.90Cash income ofInvestment 100 160.82212.64Cash income ofraising funds 100 86.2665.47Cash expenditureincluding: 100 128.17173.62Cash expenditure ofOperation 100 124.97157.90Cash expenditure ofInvestment 100 124.28202.63Cash expenditure ofraising funds100

40、 141.51104.48187.6776.42147.53143.98166.21105.96121.09Table 4 Comparison of link-relative quotaCash flow1995199619971998percentpercent percentCash income100108.34102.27percent101.89Cash income ofOperation100102.42102.01103.27Cash income ofVestment100160.82116.70113.30Cash income ofraising funds10086

41、.2688.5985.68Cash expenditure100128.17115.11Cash expenditure of117.68109.67Cash expenditure ofInvestment 100124.28133.73121.92cash expenditure ofraising funds 100141.5174.88operation100124.97115.22114.30From Table 4, we can conclude not only cash income of enterprise increases continuously, but also

42、 its increase speed increases progressively. The increase speed of cash income of operation activities and investment activities basically reduce progressively, but cash income of raising funds activities shows a negative increase. Cash expenditure of enterprise also increases progressively, whose s

43、peed is basically smooth and steady. Cash expenditure of operation activities reduces progressively, the increase speed of cash expenditure of investment activities in 1997 was higher than that in 1996. But that in 1998 was lower than that in 1997. Cash expenditure of raising funds activities in 199

44、7 cut down faster than in 1996, but that in 1998 rose again after a fall.4 Trend Forecast AnalysisThe so-called trend forecast analysis means to use regression analysis method, exponential smooth method and so on to analyze andforecast the statement of financial data, analyze its development trend,

45、and this possible development result on this basis.Trend Analysis also includes trend forecast analysis usually withtrend linear equation applies.The equation is: y a+bxWherea and b are constant, and x is the period coefficient value which is decided by distributenand made 刀x 0 .For 刀 x 0, the distr

46、ibutionvalue makes little difference whether the number of the period is odd or even.When the number of the period is odd, x may be decided as follows:199019911992 19931994x-2-10 12When the number of the period is even, x may be decided as follow:79 80 81 82 83 84 85 8687 88-10 -9 -8 -7 -6 -5 -4 -38

47、9 90 91 92 93 94 95 9697 98x +1 +2 +3 +4 +5 +6 +7 +8+9 +10The constants a and b may be decided by following formula:The data are obtained from accountant statements from 1979 to 1998of the telecommunication bureau accountant statements from 1979 to 1994 omitted .Cash income of operation activities o

48、f a telecommunicationbureau:Unit:Thousands of dollarsCash flow 1979 1980 1981 19821983Cash income ofoperation activities 26 000 28 753 29 87531 080 35 780Unit:Thousands of dollarsCash flow1984 1985 1986 19871988Cash income ofoperation activities4312345 3894710048 200 49 318Unit:Thousands of dollarsC

49、ash flow 19891990199119921993Cash income ofoperation activities50 89752 31055 43258 765 60 581Unit:Thousands of dollarsCash flow 19941995199619971998Cash income ofoperation activities65 30068465 70 12571 532 73 871SO:50 594.8 Thousands of dollars2 337.82 Thousands of dollarsthen the forecast trend e

50、quation is:y 50 594.8+2 337.82xif the enterprise wants to forecast cash income of operation activities in 1999, then:y 50 594.8+2 337.82*11 76 310.82 Thousands of dollars5 ConclusionBy quantitative analysis of cash flow statement, we can conclude the trend analysis is an analysis method which foreca

51、sts the future result by studying a number of continual periods' financial statements, comparing the amount of relevant programs and analyzing the increase and decrease of some quotas to judge its trend. Applying trend analysis, the user of statement may know the basic trend of relevant program

52、changes, judge whether this trend is advantageous or not and predict the future development of the enterprise.Joe Johnson and Larry Brown 1999. “Analysis of cash flow statement ” the cap journal; October译文：对现金流量报表相关目标的量化分析 以适用于现金流量表的趋势的分析方法为例子， 研究与现金流量表相关的目 标。所以，流量表的使用者可以知道企业当前和以前的状况， 正确评价当前和未来投入与产出

53、的能力，找出在中的问题并的计算的财务状况。为决策提供充分、有效的基础。介绍 美国是第一个决定用现金流量表代替财务状况变动表的国家。事后，英国、 澳大利亚、 加拿大和许多其他国家和地区也开始效仿。为强调现金流量表和克 服财务状况变表的缺点， 美国的财务会计准则委员会于 1987 年 1月颁布了第 95 号现金流量表这一财务会计标准的声明。它要求企业从 1988年 7月开始用 现金流量表取代财务状况变动表。 1991年 9 月，英国会计准则委员会考虑到需 要准备现金流量表的要求，也公布了财务报表标准第 1 号 现金流量表用来 要求所有的企业。国际会计标准委员会在 1992 年公布了 会计，要求用流

54、量 表代替财务状况变动表。 所以，现在"现金流量表" 、"股权债务声明 "和"损益表" 已在世界范围内的企业中初步形成了新的财务会计报告制度。2 现金流量表2.1 现金流量表的内容和其编译目的现金流量表是指基于现金和活动的财务状况变动表， 它企业在某阶段的经营 活动、 投资活动来计算现金的投入与产出， 并显示现金投入与产出的各个方面。 它基础，属于定期动态表。编制现金流量表的基本目的是为股东、 债权人及其 他提供现阶段现金流入和流出的信息，帮助他们正确地出评估：编制单位： 年份:1998 单位 : 千美 元现金流量 合计1 经营活动产

55、生的现金流量现金流入量 :销售商品、提供劳务收到的现金 收到其他与经营活动有关的现金 经营活动现金流入小计 现金流出量 : 购买商品、接受劳务支付的现金 支付给职工以及为职工支付的现金 支付其他与经营活动有关的现金 支付的各项税费 经营活动现金流出小计 经营活动产生的现金流量净额2 投资活动产生的现金流量 现金流入量 : 收回投资收到的现金 取得投资收益收到的现金 收到其他投资活动有关的现金 投资活动现金流入小计 现金流出量 : 购买固定资产支付的现金 投资活动现金流出小计 投资活动产生的现金流量净额85890120197387140 8711 28719 5852 54625 11948 75268 00018 500086 50066 67666 67619 8243 筹资活动产生的现金流量 现金流入量 :36 22015