毕业论文外文翻译企业并购财务报表分析.doc

该【毕业论文外文翻译企业并购财务报表分析 】是由【rovend】上传分享，beplayapp体育下载一共【15】页，该beplayapp体育下载可以免费在线阅读，需要了解更多关于【毕业论文外文翻译企业并购财务报表分析 】的内容，可以使用beplayapp体育下载的站内搜索功能，选择自己适合的beplayapp体育下载，以下文字是截取该文章内的部分文字，如需要获得完整电子版，请下载此beplayapp体育下载到您的设备，方便您编辑和打印。CHANGCHUNINSTITUTEOFTECHNOLOGY
毕业设计(论文)外文资料翻译
原文题目:Enterprisemergerandacquisitionanalysisoffinancialstatements
中文题目:企业并购财务报表分析
文献出处:?Themodernenterprisefinancialmanagement?「美」.
学生姓名:崔忠楠
学院名称:管理学院
专业名称:财务管理
班级名称:财务1041
学号:1009426139
指导教师:洪筠
教师职称:教授
学历:本科
2021年6月6日
外文原文
Enterprisemergerandacquisitionanalysisoffinancialstatements
,enhancingcompetitiveness,&,itappearsinmergeranalysisofthefinancialproblemstoimprovetheefficiencyofM&Financehasanimportantpracticalsignificance.
Weneedtousefinancialratiosinanalyzingfinancialstatements.——,forexample,toknowthat,onagivendate,theSmithCompanyhasacashbalanceof$-,usedorunused,of20percent,wecanseeatoncethatthefirm'scashconditionisexhibitingaquestionabletendency.
&Amarketisessentiallyanalternativeorganizationtorealizetheinternalizationofexternaltransactions,asappropriateunderthetermsoftrade,businessorganizations,thecostmaybelowerthaninthemarketforthesametransactioncosts,therebyreducingproductionandoperationthetransactioncosts.
,becausetheinterestsofcorporatemanagementandbusinessownerswhichresultedininconsistenciesinagencycosts,includingallcontractcostswiththeagent,,theincumbentmanagersoftargetcompanieswillbereplaced,whichcaneffectivelyreducetheagencycosts.
,canexpandthesizeofthebusiness,,largecompanieseasieraccesstocapitalmarkets,,relativelyspeaking,stocksorbondscostwillbereducedtoenableenterprisestolowercapitalcost,refinancing.
&Abusinessprocesscanmakeuseofdeferredtaxintermsofareasonabletaxavoidance,butthecurrentlossofbusinessasaprofitpotentialacquisitiontarget,especiallywhentheacquiringcompanyishighlyprofitable,,interestincome,operatingincomeandcapitalgainstaxratedifferencebetweenthelargemergersandacquisitionstakeappropriatewaystoachieveareasonablefinancialdealwiththeeffectoftaxavoidance.
&-,formostoverwhoareincompetitionforcontrolofitsmotivesistoseekthecompany'smarketvalueandtheeffectivemanagementoftheconditionshouldbethedifferencebetweenthemarketvalue.
'sfinancialflexibilityisimportant,-generatingcapacityandfundingfromthecapitalmarketcapacity,butalsothecompany'soverallProfitability,Profitabilityisthesizeofwhichcanbecompany',thefixedcoststopredictthetotalexpendituresandcashflowtrends,thefixedcostsanddiscretionaryspendingisdividedintosomepartsofconstraints,inordertoaccuratelyestimatethecompany'sworkingcapitaldemandinthenearfuture,ontheaccountsreceivableturnoverandinventoryturnoverrateofthedatatobereviewed,shouldincludeotherfactorsthataffectfinancialflexibility,suchasshort-termcorporatedebtlevels,capitalstructure,thehighertheinterestrateofZhaiwurelativelyspecificweight.
M&Mpriceisthecostofanimportantpartofthetargetcompany'svalueisdeterminedbasedonM&Aprices,soenterprisesinM&JueceO'clockontargetedbusinessJinxingscientific,objectivevalueofPingGu,,generallyadjustedbookvaluemethod,marketvalueofcomparativelaw,price-earningsratiomethod,discountedcashflowmethod,incomeapproachandothermethods.
Wemaymakecomparisonsbetweenitemsinthecomparativefinancialstatementsasfollows:

a)Betweenitemsinthebalancesheetforonedate,.,cashmaybecomparedwithcurrentliabilities
b)Betweenaniteminthebalancesheetforonedateandthesameiteminthebalancesheetforanotherdate,.,cashtodaymaybecomparedwithcashayearago
c)Ofratios,ormathematicalproportions,betweentwoitemsinthebalancesheetforonedateandalikeratiointhebalancesheetforanotherdate,.,theratioofcashtocurrentliabilitiestodaymaybecomparedwithalikeratioayearagoandthetrendofcashconditionnoted

a)Betweenitemsinthestatementforagivenperiod
b)Betweenoneiteminthisperiod'sstatementandthesameiteminlastperiod'sstatement
c)Ofratiosbetweenitemsinthisperiod'sstatementandsimilarratiosinlastperiod'sstatement

a)Betweenitemsinthesestatementsforagivenperiod,.,netprofitforthisyearmaybecalculatedasapercentageofnetworthforthisyear
b)Ofratiosbetweenitemsinthetwostatementsforaperiodofyears,.,theratioofnetprofittonetworththisyearmay-becomparedwithlikeratiosforlastyear,andfortheyearsprecedingthat
Ourcomparativeanalysiswillgaininsignificanceifwetaketheforegoingcomparisonsorratiosand;inturn,comparethemwith:
'sfinancialhistoryandcondition,forexample,thestageofthebusinesscycle
.-Comparativeanalysisofcomparativefinancialstatementsmaybeexpressedbymathematicalratiosbetweentheitemscompared,forexample,aconcern',forexample,.
Weshallusethefollowingfinancialratiosinanalyzingcomparativefinancialstatements:
-capitalratios


,salablesecurities,notesandaccountsreceivabletototalcurrentliabilities
,.,theturnoverofreceivables
,.,theturnoverofinventory






,.,theturnoveroffixedcapital
,.,theturnoverofintangibles



.
.










-operatingincometonetoperatingprofit
-operatingexpense



Thisclassificationoffinancialratiosispermanentnotexhaustive.-,,inventory,fixedandintangiblecapital;theratiosofnetoperatingprofittototalcapitalandtosales;andtheratiosofsalestooperatingcostsandexpensesreflectefficiencyintheuseofcapital.'Mostoftheotherratiosreflectfinancialefficiency.
Arethestatementsadequateingeneral?-,ofcourse,,.
Doesthecomparativebalancesheetreflectaseasonablesituation?Ifso,,andundulyunfavorablejudgmentatthehighpointwhenassetsarelessliquidanddebtlikelytoberelativelyhigh.
Doesthebalancesheetforanydatereflecttheestimatedfinancialconditionafterthesaleofaproposednewissueofsecurities?Ifso,inordertoascertaintheactualfinancialconditionatthatdateitisnecessarytosubtracttheamountofthesecurityissuefromnetworth,,orfromliabilities,.
Arethestatementsauditedorunaudited?Itisoftensaidthatauditedstatements,thatis,completeauditsratherthanstatements"rubberstamped"bycertifiedpublicaccountants,,butthestatementanalystshouldbecertainthatthegivenauditingfilm'sreputationisbeyondreproach.
Isworking-capitalsituationfavorable?-Ifthecomparativestatementstobeanalyzedarereasonablyadequateforthepurpose,thenextstepistoanalyzetheconcern'sworking--atestoftheconcern',inpart,ameasureofabilitytoborrowadditionalworkingcapitalortorenewshort--termcreditorsandthebetterthecreditofthebusiness,"rule-of-thumb"ratiogenerallyconsideredsatisfactory,assumingallcurrentassetsareconservativelyvaluedandallcurrentliabilitiesrevealed.
Therule-of-thumbcurrentratioisnotasatisfactorytestofworking-,,foronething,upontheliquidityofthecurrentassets.
Theliquidityofcurrentassetsvarieswithcashposition.-,cashshouldequalatleast20percentoftotalcurrentliabilities(dividecashbytotalcurrentliabilities).Bankerstypicallyrequireaconcerntomaintainbankbalancesequalto20percentofcreditlineswhetherusedorunused.