(a) browse and review the accounting statements of enterprises. For the financial statements of enterprises, we should grasp several preconditions: whether the accounting statements have been audited, which accounting firm is auditing, and the credibility of the auditing institution; Whether it is a consolidated statement, such as the consolidated statement should understand the scope of consolidation, the above factors directly affect the authenticity of the audit of accounting statements.
1, accounting policies and auditing methods of enterprises. First, ask the financial personnel about the accounting policies adopted by the enterprise, and audit the account books and related financial basic materials on the spot. Understand the accounting policies of enterprises, and the economic content reflected in different statements is also different. Enterprise account books are divided into general ledger, subsidiary ledger and journal. Accounting statements are compiled according to general ledger adjustment, general ledger is compiled according to summary vouchers, subsidiary ledger is compiled according to accounting vouchers, and journal is also a subsidiary ledger, generally called running account, which mainly accounts for cash and bank deposits. Other relevant financial basic materials generally include audit reports, purchase and sale contracts, loan contracts, bank statements, tax returns, loan card inquiry details, project feasibility study reports and other materials. These materials are generally provided by the outside, which have high authenticity and can confirm the authenticity and integrity of the financial information in the accounting statements provided by enterprises.
(1) Verify whether the general ledger is consistent with the accounting statement, that is, "the account statement is consistent". It should be noted that some subjects in the accounting statements are consolidated values, such as the inventory formed by the merger of raw materials, material cost differences, production costs, manufacturing expenses, finished products and low-value consumables; Generally, there is balance adjustment in accounts receivable and accounts payable, which makes the general ledger balance inconsistent with the balance in accounting statements.
(2) Audit the subsidiary ledger. First, check whether the general ledger and subsidiary ledger are in the right place, that is, "the accounts are consistent with the facts." According to the doubts found in reading the accounting statements, check the subsidiary ledger of related subjects. Because we are not an accounting firm, it is impossible to conduct a detailed audit of every accounting subject. According to the characteristics of accounting, we divide it into several periodic audits, verify the rationality of data according to its cross-checking relationship, and check accounting vouchers to verify the authenticity, legitimacy and integrity of accounting statements. (1) sales and collection cycle audit, generally including monetary funds, accounts receivable, main business income, other business income and other subjects; ② Review of procurement, payment and production cycle, generally including monetary funds, inventory, main business costs, accounts payable, other business expenses and other subjects; (3) fund raising and investment cycle audit; (4) The tax return is the voucher for the enterprise to declare income tax and value-added tax to the tax authorities, which is generally divided into income tax return, value-added tax return and business tax return. The income tax return records the operating results and social contributions realized by the enterprise, and checks whether the income tax extracted or paid is consistent with the accounting statements; Check whether the main business income is consistent. If an enterprise has other business income that should pay value-added tax, the taxable income in the tax return is greater than the main business income recorded in the accounting statements. In addition, we should also pay attention to whether enterprises have preferential tax policies.
(3) Verify whether the long-term and short-term loan amounts are consistent through the loan card inquiry form. Accounting statements reflect hours, if there are differences between them: first, there are unrecorded bank loans or loans due for repayment; Second, the query time is later than the accounting statement time, during which bank loan business occurs. The credit card inquiry table generally reflects the balance of corporate loans, acceptance bills, letters of credit and external guarantees. Here, we should pay attention to checking whether the enterprise has overdue loans, especially paying attention to external guarantees.
In addition, we should also pay attention to the treatment of long-term and short-term loans of enterprises: first, prevent enterprises from recording short-term loans as long-term loans in order to adjust financial indicators; Second, pay attention to whether there is a phenomenon of short-term borrowing and long-term use. Buying fixed assets with short-term loans will increase the pressure of short-term debt repayment. There are other basic financial information that can prove the authenticity of the data in accounting statements and help us find the hidden major issues of the enterprise.
2. Investment and financing policies. Reflected in the changes in fixed assets, the amount of projects under construction and the changes in long-term and short-term investments, mastering the investment direction and content of enterprises will help us understand the specific use of enterprise insurance funds.
There are four main sources of funds for enterprises: first, bank loans, which are divided into long-term loans and short-term loans, and funds raised by employees within enterprises; Second, commercial financing, the so-called commercial financing refers to the payment for goods sold by enterprises on credit, specifically accounts payable; Third, shareholder investment generally refers to paid-in capital, and if there is a capital premium, it includes part of capital reserve; The fourth is the accumulation of the enterprise itself, that is, the profits created by the enterprise. Another reflection of financing policy is the cash flow of financing activities in the cash flow statement. If the proportion of accounts payable and bank loans in liabilities is close, it means that both commercial financing and bank financing are taken into account; The ratio of bank loans to accounts payable should not be too large. The high proportion of accounts payable reflects the shortage of funds in enterprises, and the high proportion of bank loans shows that enterprises rely too much on bank loans for development, so we should pay attention to their capital chain.
3. Enterprise marketing. The marketing situation of enterprises is embodied in the turnover rate of accounts receivable and the amount of accounts payable. The turnover rate of accounts receivable generally reflects the credit policy and payment policy of enterprises, and the amount of accounts payable generally reflects the credit policy of enterprises. Accounts receivable and accounts payable of an enterprise can reflect the cash flow of the enterprise, as well as its operating conditions and repayment ability.
(2) Analyze and judge the financial statements of the enterprise, and make horizontal and vertical analysis between the statements. When analyzing enterprise accounting statements, we should pay attention to the correlation between statements and the control relationship between report data, specifically: 1, the relationship between the net profit reflected in the income statement and the owner's equity of the balance sheet; 2. Long-term equity investment generally does not exceed 50% of net assets, except for companies with investment functions; 3. Pay attention to the balance between intangible assets and capital reserve. Under normal circumstances, the value-added part of surviving assets will not be recorded. In order to reduce the asset-liability ratio, some enterprises increased the asset scale and re-evaluated the existing land use rights and fixed assets without authorization. 4. Pay attention to the balance of projects under construction. If the enterprise has major investment projects, it should be reflected in this course; 5. Pay attention to the balance of current accounts. Many related transactions and hidden profits of enterprises are generally hidden here; 6. Read the notes to the accounting statements carefully.
By reading the accounting statements of enterprises, we can understand the basic economic policies and basic situation of enterprises, and find doubts according to the abnormal situation and abnormal changes of figures in the statements. However, it is difficult to find the real situation only by analyzing the accounting statements that reflect the summary data of enterprises. The next step is to go to the enterprise site to understand the accounting policies of the enterprise, master the detailed financial information of the enterprise through auditing the account books and related financial basic materials, and verify whether the data reflected in the accounting statements are true and complete, and whether there are any major false reports or omissions.
In a word, an enterprise's asset management level, fund allocation and growth can be reflected in its accounting statements. On the premise of assuming that the accounting statements of enterprises are true, auditing and analyzing the accounting statements of enterprises can grasp the economic situation of enterprises to some extent.