Part I Balance Sheet
Balance sheet basis
1. What is a balance sheet? Balance sheet is an accounting statement that reflects the financial status of assets, liabilities and owners' equity of an enterprise on a specific date. Generally speaking, 2. In assets and liabilities, 3. How many assets does the enterprise have? 4. What assets are there, 5. How much debt, 6. What are the liabilities, 7. What is net assets, 8. What is its composition, 9. It's all clearly reflected. In the study of financial statements, 10, balance sheet is a good start, 1 1, because it reflects the financial structure and status of enterprises. The balance sheet describes the financial situation of the enterprise at the time of publication, 12, just like 13. We hold the camera and press the shutter in a high-speed vehicle, 14, only 15, and the "vehicle" passing through here is the capital flow. We get a static picture, 16, which only describes the situation at that time, 17, that is, the information is timely.
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First, reflect the assets and their distribution.
B, explain the debts undertaken by the enterprise and the repayment time.
C, reflect the net assets and their reasons
D, reflect the financial development trend of enterprises
19. Format of balance sheet
At present, there are two main balance sheet formats in the world: one is the account table and the other is the report table. The reference format stipulated in China's accounting system is the account table, and the account balance sheet should disclose three figures: one is how many assets there are at the moment, and the other is how many assets there are at the moment.
How much debt, the third is how much owner's equity you have at this time. (Accounting identity: assets = liabilities+owners' equity)
20. Contents of balance sheet (see balance sheet for details)
Three steps to reading the balance sheet:
The first step is general observation. The increase of assets may be the increase of liabilities or the increase of owners' equity; The decrease of assets may be the decrease of liabilities or the decrease of owners' equity (i.e. assets = liabilities+owners' equity). The purpose is to grasp the direction of financial change.
The second step is to browse specific projects. The method is to look up and down and compare left and right, with the aim of finding out the reasons for the change, and the characteristics are targeted. The third step is to test whether the conventional financial indicators of the enterprise are normal with the help of relevant financial ratios. The relevant financial ratios are asset-liability ratio, current ratio and quick ratio.
1, asset-liability ratio = total liabilities/total assets * 100%
This indicator shows how much of an enterprise's assets are debts, and can also be used to check whether the financial situation of an enterprise is stable. From the financial point of view, it is generally believed that China's idealized asset-liability ratio is around 40%.
2. Current ratio = current assets/current liabilities * 100%
Financially speaking, the ideal value of this ratio is 2, that is, the relationship between current assets and current liabilities should be 2: 1.
3. Quick ratio = quick assets/total current liabilities * 100% quick assets = current assets-inventory)
Generally speaking, the ideal value of quick ratio is 1. If the quick ratio of an enterprise is greater than 1, it is generally considered that the short-term solvency of this enterprise is relatively strong; If the quick ratio of the enterprise is less than
1, it is generally believed that the short-term solvency of this enterprise is relatively weak.
Therefore, when the asset-liability ratio of an enterprise is high, the financial structure may be unstable, and the most important factor to judge whether the financial structure of an enterprise is stable is the short-term solvency, so we should follow up and check two contents: current ratio and quick ratio. With the help of these two indicators, we can check whether the financial situation of the enterprise is stable.
Look at the balance sheet from another angle
First of all, we should understand a very important rule, which is the 2+2 rule. From the accounting point of view, 2+2=4 is an eternal law. It tells managers how to interpret the figures in accounting statements through metaphor. In accounting statements, 2+2 always equals 4. However, in the eyes of meter readers, 2+2 is sometimes equal to 4 and sometimes equal to 5, which should be true for both assets and liabilities and owners' equity.
Secondly, it is necessary to understand that the asset valuation basis reflected in the balance sheet is the actual cost rather than the market price, and there is a gap between the cost and the market price, so we should pay attention to the main items.
1, pay attention to asset quality, and pay attention to asset quality when reviewing the balance sheet with the 2+2 rule. From the perspective of China enterprises, paying attention to asset quality means paying attention to the "water content" in the balance sheet.
2. Pay attention to liabilities. Not all liabilities of an enterprise can be reflected on the balance sheet. The liabilities reflected on the balance sheet are only existing liabilities, or real liabilities, while the potential risks and liabilities cannot be reflected on the balance sheet. The potential liabilities are reflected in the appendix of the balance sheet, and the preparer should explain them in detail.
3. Pay attention to the rights and interests of the owners. The use of funds should correspond to the registered capital of the enterprise.
When the registered capital of the enterprise is fully in place, the share capital or paid-in capital on the balance sheet shall be consistent with the registered capital of the enterprise. If the registered capital of an enterprise is put in place by stages, in this case, there are many figures on the table and relatively few actually put in place. As a manager, you should pay attention to this situation when reading the table. If the undistributed profit in the table is positive, it means that there is no distribution after the enterprise profit; If it is negative, it means accumulated uncompensated losses. The balance sheet is hours, and only one result can be reported. If the amount is negative, it means that the business risk of this enterprise is very high.
Because the assets in an enterprise's balance sheet are moist, the new accounting system stipulates that eight assets should be provided for impairment. That is, short-term investment, inventory, fixed assets, long-term investment, construction in progress, intangible assets, entrusted loans, accounts receivable and other receivables should be set aside for bad debts.
Finally, we should understand that not all the economic resources of an enterprise can be reflected on the balance sheet, for example, the goodwill and excellent management level of an enterprise can not be reflected on the balance sheet. Part II Income Statement
Basis of income statement
1) What is the income statement? Income statement is a general accounting statement that reflects the realization of profits or losses of an enterprise in a certain period (monthly and annual). 2) The formula of "revenue-expense = profit" is expressed in a clear tabular form. In fact, the income statement is a video of enterprise operation. 3) The video has a starting point and an ending point, and 4) The income statement describes the process from the starting point to the ending point. What needs to be recorded in this process is not 5) all the contents, 6) how much income and expenses have occurred during this period, 7) whether the enterprise is profitable or losing money during this period, and 8)
This is the basic content of the income statement.
9) Format of income statement
At present, countries around the world mainly adopt two basic income statement formats: the first format is a single-step income statement, and the second is a multi-step income statement. According to China's accounting system, the sudden income statement generally consists of four steps: the first step is to calculate the profit of main business (main business income-main business cost-main business tax and surcharge); Step 2, calculate the operating profit (main business profit+other business profit-operating expenses-management expenses-financial expenses); Step 3, calculate the total profit (operating profit+investment income+subsidy income+non-operating income-non-operating expenditure); The fourth step is to calculate the listed net profit (total profit-income tax)
10) Functions of the income statement
First, reflect the operating results of the enterprise in a certain period of time;
B, help to evaluate the profitability of enterprises;
C, can help to judge the value of the enterprise;
D, predict the future profit trend of the enterprise.
Through the comparative figures of different periods provided by the income statement (the number of this month and the cumulative number of this year), we can predict the future profit trend and profitability of enterprises, because the income statement is a comprehensive embodiment of the business performance of enterprises and the main basis for profit distribution. Therefore, the income statement is one of the main statements in accounting statements.
Basic methods and skills of reading income statement
How to assess the operating results of enterprises? Comprises three steps: firstly, mastering the results,
12) depends on whether the enterprise is making money or losing money, 13) if it is positive, 14) says that the enterprise is making money; If it is negative, 15) indicates that the enterprise is losing money; The second is layered observation. floor
The purpose of observation is to let enterprises know where to make money. In the income statement, 16) the main business profit and operating profit of the enterprise are the profits generated by the daily business activities of the enterprise, and 17) can best explain the profitability of the enterprise. If the enterprise makes money from the main business profit or operating profit, 18) indicates that the enterprise has good profitability; If the enterprise does make money, 19) but not 20) is the main business profit, while 2 1) is obtained through uncontrollable events or accidental transactions, 22) cannot 23) explain the size of the enterprise profit. The third is project comparison. Project comparison is usually compared with two objectives (24): the first is to compare with the previous year; Second, it is related to goal 25 (budget goal) set at the beginning of the year.
26)) Comparison, 27) By comparing these two goals, 28), 29) To some extent, we can determine whether we are satisfied with this year's performance.
30) With the help of relevant financial ratios, 3 1) perspective the operating results of enterprises.
1) gross profit margin
Gross profit margin = gross profit margin/main business income * 100% (gross profit margin = main business income-main business cost)
The gross profit margin of enterprises is relatively high or moderate, and it is generally believed that this commodity has relatively strong competitiveness. In other words, if the gross profit margin is high, even if it is profiteering, the profitability and competitiveness of this product should be relatively strong as long as the market can accept it. If the gross profit margin of an enterprise's goods is very low, even to the point of meager profit, then the profitability of this commodity is relatively poor, and it is more difficult for enterprises to make money.
2) Net profit rate of sales
Net profit rate of sales = net profit/main business income * 100%
The net profit rate of sales means that an enterprise sells 100 yuan of goods or obtains 100 yuan of operating income.
How much net profit can it bring to the enterprise? This indicator can also explain the profit level of enterprises or the profit level of this industry.
3) Net interest rate of assets
Net interest rate on assets = net profit/total assets * 100%
The goal of the net interest rate of assets is to explain how much money an enterprise can earn net for every asset it owns 100 yuan. A high net interest rate on assets means that the economic benefits of enterprises are good, and vice versa. Of course, good efficiency means high management level, and poor efficiency may lead to certain problems in management level. Therefore, the level of enterprise management can be seen through the net interest rate of assets.
4) Net rate of return
Return on net assets = net profit/average shareholders' equity * 100%
The basic content of return on net assets is how much return investors can bring to the enterprise for every 100 yuan of assets, that is, the rate of return. The higher the net rate of return, the higher the return on investment of investors; If this ratio is low, investors' return on investment will be low.
5) P/E ratio
P/E ratio = current share price/earnings per share
P/E ratio refers to how many times the current stock price is the net profit per share. This is a multiple relationship, which shows how the profit factors support the stock price. For example, the present value of a company's stock is 10 yuan, and the net profit per share is 1 yuan. If the net profit is divided by the total number of shares, the concept of 10: 1, 10: 1 can be understood in this way. If every
32) Pay attention to the influence of human factors on statements, and 33) correctly understand the profits in statements.
A. Cost carry-over method
B, the calculation method of depreciation
C. preparation of eight impairment reserves d and d
E. amortization of expenses
F, loan interest
Part III Basis of Profit Distribution Statement
What is the profit distribution table? The profit distribution statement is an accounting statement that reflects the distribution of net profit or the compensation of losses realized by an enterprise in a certain period of time. It is the schedule of the income statement, which explains the distribution direction of net profit reflected in the income statement.
Function of profit distribution table
Reflect the profit sources available for distribution this year.
Explain the distribution of profits this year.
Grasp the undistributed profits at the end of this year.
Basic contents of profit distribution table
There are three sources of profits that enterprises can distribute: the first is net profit; The second item is the undistributed profit at the beginning of the year; The third item is the transfer of surplus reserves.
If the enterprise obtains net profit, can it distribute the profit? China's "Company Law" stipulates that if an enterprise has a net profit, it shall first draw the statutory surplus reserve at the rate of 65,438+00%, then draw the public welfare fund at the rate of 5-65,438+00%, and the investors shall decide how to distribute the rest. Then investors have the right to decide not to allocate the money and stay in the enterprise to expand their strength. Investors have the right to use it as the distribution content of profits.
Row.
If the profit of the enterprise is zero, can it be distributed? If the net profit of the enterprise is zero, the enterprise profit can also be distributed. Because profit not only refers to the profit earned this year, but also includes the surplus earned in previous years, you can use the balance of previous years to participate in this year's profit distribution.
If the balance of the previous year is also insufficient, how to distribute it? If it is a listed company or joint-stock company, shareholders will not see a penny of dividends by the end of the year, then investors have insufficient confidence in the development of the enterprise. Therefore, in order to support the confidence of investors, the state stipulates that enterprises can use the accumulated provident fund to distribute profits when they do not make money. The main performance of accumulation is the surplus extracted before. There are three distributable profit sources for an enterprise: net profit, undistributed profit at the beginning of the year and surplus reserve. Although there are these three items in the report, in real life, they are rarely seen at the same time. If it is a profit-making enterprise, there are two sources of profit available for distribution: one is the net profit in the income statement; The other is the undistributed profit at the beginning of this year's profit distribution. If the enterprise doesn't make a penny this year, it can also distribute profits. There are two main sources of distributable profits here: first, undistributed profits at the beginning of the year; The other is the surplus reserve extracted before. When distributing profits to investors with surplus reserves, we must pay attention to the provisions of the state: if an enterprise distributes profits to investors with surplus reserves, the surplus reserve shall not be less than 25% of the registered capital. In other words, the bottom line for enterprises to use this money cannot be less than 25% of the registered capital. If it is less than 25%, this distribution is illegal. Therefore, when enterprises do not make money but support investors' confidence and distribute profits to investors, they can use surplus reserves, but the distribution ratio should conform to the state regulations, and the balance of surplus reserves should also conform to the state regulations.
A) profit distribution items and proportion
I. Withdraw legal surplus reserve (65438+ 00% of net profit)
Two. Withdraw statutory public welfare fund (within 5% to 10% of net profit)
Three. Dividends payable on preferred shares (prior to dividends)
Four. Withdraw any surplus reserve
financial affairs
Distribute profits according to the plan
Common stock payable
profit
operator
Submit a profit distribution plan
board of directors
Review, submit
general meeting of shareholders
Final review, determine the distribution plan.
Common stock dividends converted from intransitive verbs into share capital
How to read the profit distribution table
As an enterprise manager, when reading the profit distribution table, we should pay attention to two aspects:
B) Grasp the profit sources available for distribution.
In the profit distribution table, there are three sources of profit available for distribution: net profit, undistributed profit at the beginning of the year and surplus reserve. When reading the profit distribution table, we should examine the reliability of these three sources. The review method is:
The net profit in the profit distribution statement should be equal to the net profit in the income statement. Two. The undistributed profit at the beginning of this year should be the undistributed profit at the end of last year
Three. Pay special attention to whether the participation of surplus reserve in profit distribution conforms to the relevant regulations of the company.
C) pay attention to the whereabouts of profit distribution
For managers at all levels of the company, special attention should be paid to the legality of profit distribution. First of all, it conforms to the provisions of national laws, that is, the Company Law of People's Republic of China (PRC);
The second is to abide by the family law, that is, the relevant regulations of the company, especially the right to distribute profits; Third, when reading the profit distribution table, we should first check whether the profit distribution plan approved by the shareholders' meeting of the enterprise is consistent with the profit distribution content reflected in the income statement. For example, in the profit distribution plan, what proportion and amount should be used to distribute profits to preferred shareholders; The proportion and amount of surplus reserve; According to what proportion to extract the profits of ordinary shareholders; How much to withdraw to increase the registered capital of the enterprise. The proportion and amount of each figure in the profit distribution table shall be consistent with the profit distribution plan reviewed and approved by the shareholders' meeting. (that is, the source should be reliable and the destination should be legal)
The fourth part is how to evaluate the overall financial situation of the enterprise.
The overall evaluation of an enterprise's financial situation is to truly perceive the actual situation of the enterprise's financial situation, including the evaluation of the operating results of the operating process and the evaluation of the data reflected in the balance sheet at a certain time, that is, the understanding of both time figures and period figures. Generally speaking, the financial situation of an enterprise can be evaluated from the following four aspects:
1, enterprise profitability evaluation (mainly refers to 2, target 3, gross profit margin, net profit rate of sales, net profit rate of assets, 4, the calculation of these 5, target 6, the same as in the income statement, 8. )
9. The evaluation of an enterprise's operational capability is usually called turnover capability (mainly refers to 10, standard.
1 1,: inventory turnover, accounts receivable turnover, current assets turnover, asset turnover)
12, corporate solvency (financial safety evaluation)
A, profit security (check whether the profit is safe, b, generally refers to the margin of safety.
C, mark, d, the higher, the safer)
E, capital structure (commonly used in capital structure research refers to F, standard G, that is, asset-liability ratio, H, the lower the more stable).
1. Debt repayment safety (the ideal value of current ratio is 2, the ideal value of quick ratio is 1, and the interest earned is j times. The larger the number, the stronger the debt repayment ability).
13, enterprise development ability evaluation
When evaluating the financial situation of an enterprise, we should look at its future financial situation. To understand the development trend of enterprises, we can't just stay on the evaluation of historical situation, because such evaluation is incomplete. The evaluation of enterprise development ability mainly includes the following aspects:
Business development (sales growth)
Business development evaluation is to guess the future of an enterprise according to its past data. If an enterprise's business is booming, its sales should be rising. You can calculate the annual sales growth of an enterprise. For example, this enterprise grew by 65,438+00% in 65,438+0 years, by 20% in the second year and by 30% in the third year, which indicates that its business has a good development prospect.
Earning quality (operating cash index)
If the profit of an enterprise is 2% in 1 year, 3% in the second year and 3.5% in the third year, then the operating results of this enterprise are increasing year by year, but it is not enough to pay attention to the operating results only, but also to the quality of the operating results. The quality of enterprise profits can be measured by operating cash indicators. If the operating cash index of an enterprise is close to 1, the profit is on the rise and develops in a good direction every year, then the profit quality of the enterprise is high; On the contrary, the quality of corporate profits is low.
Value preservation and appreciation (value preservation and appreciation rate)
Investors put money into enterprises in order to make money. Whether capital is maintained and increased in the operation of an enterprise from the beginning of the year to the end of the year is a matter of great concern to investors. In practical work, the measure of maintaining and increasing value is the rate of maintaining and increasing value of capital. The specific calculation method is: capital preservation and appreciation rate = ending owner's equity/beginning owner's equity.
The last item in the balance sheet is owner's equity, that is, shareholders' equity. There are two figures in the year-end balance sheet: one is the beginning of the year and the other is the end of the year. Generally speaking, if the rate of capital preservation and appreciation is equal to 1, it means that the enterprise has not made money or lost money from the beginning of the year to the end of the year, and the capital is only preserved; If the capital preservation and appreciation rate is less than 1, the enterprise has arrived from the beginning of the year.
Loss at the end of the year, capital impairment; If the capital preservation and appreciation rate is greater than 1, it means that the number at the beginning of the year is greater than the number at the end of the year. Generally speaking, the capital of enterprises is increasing at this time. (Note: If the capital preservation and appreciation rate is greater than 1, the enterprise capital may not necessarily increase. Because there are two ways to increase the owner's equity: making money and increasing capital and investors' investment. If the owner's equity is increased by investors' investment, then the rate of capital preservation and appreciation is doubtful. )
Enterprise value (P/E ratio)
If the enterprise has the ability to develop, it means that the enterprise is more and more valuable, that is, the value of the enterprise is increasing. The value to the enterprise can be calculated by the price-earnings ratio:
P/E ratio = current share price/earnings per share
Attachment: Calculation formula of each index
Asset-liability ratio = total liabilities/total assets * 100%
Current ratio = current assets/current liabilities
Quick ratio = quick assets/current liabilities
Gross profit margin = gross profit margin/main business income * 100% (gross profit margin = main business income-main business cost) (note: main business income is the net value of main business income minus discounts).
Net profit rate of sales = net profit/main business income * 100%
Net interest rate on assets = net profit/total assets * 100%
Return on net assets = net profit/average shareholders' equity * 100%
P/E ratio = current stock price/earnings per share (multiple relationship)
Inventory turnover rate = cost of goods sold/average inventory occupation
Accounts receivable turnover rate = net sales revenue/average balance of accounts receivable
Turnover rate of current assets = main business income/average current assets
Asset turnover rate = main business income/average total assets
Margin of safety = (main business income-breakeven point main business income)/main business income * 100%.
Earned interest multiple = earnings before interest and tax/interest expense.
Earnings before interest and tax = net profit+interest expense.