Budget Unit Financial Monthly Report Analysis System (Template)
How to write a monthly financial report? If you are a financial officer, just write down the difference between the financial information and the budget in the current period and the information in the previous period and the same period. As for the reasons for the differences, that is the business of other functional departments. For example, this month's sales volume is 1 20,000, which is 1 10,000 higher than the budget,110,000 higher than the previous period, an increase of 9%, and an increase of 2 million over the same period last year, an increase of 10%. This company has a good growth. As for the reasons for the increase in sales, it may involve market development and price increase. These are all things for the sales department.
Analysis and prevention of enterprise financial risk. (1) fund-raising risk control In the market economy, fund-raising activities are the starting point of enterprise production and operation activities. Improper management measures will make the use efficiency of raised funds have great uncertainty, which will lead to the risk of raised funds. There are two main channels for enterprises to raise funds: one is owner's investment, such as capital increase and share expansion, after-tax profit distribution and reinvestment. The second is to borrow money. As for the borrowed funds, while gaining the benefits of financial leverage, enterprises borrow funds through debt management, which brings the possibility of losing their solvency and the uncertainty of income. There are several specific reasons for financing risk: the risk of increasing the financing cost of enterprises due to interest rate fluctuations, or raising funds above the average interest level. In addition, there are fund organization and scheduling risks, operational risks and foreign exchange risks. Therefore, the scale of debt management must be strictly controlled. (2) Investment risk control enterprises can make three kinds of investments after obtaining funds through fund-raising activities: first, investment in production projects, second, investment in securities markets, and third, investment in business activities. However, investment projects do not always produce expected returns, which leads to the uncertainty of reducing the profitability and solvency of enterprises. If the investment project cannot be put into production on schedule, it will not be profitable, or even if it cannot be profitable, it will cause losses, which will lead to the decline of the overall profitability and solvency of the enterprise. Although there is no loss, the profit level is very low, and the profit rate is lower than the bank deposit rate in the same period; Or although the profit rate is higher than the bank deposit rate, it is lower than the current capital profit rate of the enterprise. When making investment risk decision, its important principle is not only to dare to make venture capital to obtain excess profits, but also to overcome blind optimism and adventurism and avoid or reduce investment risks as much as possible. What we should pursue in decision-making is the best combination of profitability, risk and robustness, or let the principle of robustness play the role of balancer between profitability and risk. 3) Capital recovery risk control The important link of financial activities is capital recovery. Accounts receivable is an important aspect of the risk of capital recovery, which accelerates the outflow of cash. Although the enterprise generates profits, it does not increase the cash of the enterprise. On the contrary, it will enable enterprises to advance unrealized profits and tax expenses with limited working capital and accelerate cash outflow. Therefore, the management of accounts receivable should be strengthened from the following aspects: first, establish a stable credit policy; Second, determine the credit rating of customers and evaluate the solvency of enterprises; Third, determine a reasonable proportion of accounts receivable; Fourth, establish a sales responsibility system. (4) Income distribution risk control Income distribution is the last link of enterprise financial management circle. Income distribution includes retained income and dividend distribution. Retained income is the source of expanding investment scale, and dividend distribution is the requirement of shareholders' property expansion, which are both interrelated and contradictory. If the enterprise rapidly expands the suite and the sales and production scale develops rapidly, it needs to acquire a large number of assets, and most of the after-tax profits are retained. However, if the profit rate is high and the dividend distribution is below a certain level, it may affect the stock value of the enterprise, thus forming risks in the income distribution of the enterprise. Therefore, we must pay attention to the balance between the two and strengthen financial risk monitoring.
Measures to deal with financial risks of enterprises are as follows:
1, strengthen the analysis of the environment and increase risk awareness.
The environment exists independently of the enterprise, and the enterprise cannot intervene, but when the external environment changes, the enterprise can take certain measures. Strengthen the analysis of the external environment, grasp its changes in time, then formulate corresponding solutions and adjust the finance in time. Enterprises need to establish certain financial institutions, then arrange high-quality staff, conscientiously implement the rules and regulations of financial management, and always keep a sense of risk.
2. Adjust the capital structure
In the process of enterprise development, it is necessary to constantly study the capital structure, so as to find a way to recover capital and ensure the rationality of the capital structure. In the process of development, enterprises need to establish a capital structure that integrates financing structure, asset structure and investment structure to increase the rationality of capital. In management, if you find idle funds, you need to make short-term investment in yourself, speed up your own flow and reduce the debt ratio. There is also recycling funds, reducing 60% of shares, ensuring interests, better grasping equity and avoiding financial risks.
Generally speaking, in the process of enterprise development, financial risk is very common, which is caused by many reasons. Enterprises must analyze risks and take corresponding preventive measures. Enterprises must pay attention to financial risks when managing money, so as to achieve sustainable development.
How to write a paper on the analysis of enterprise financial statements is a big problem. Just write a little bit. Starting from the financial principle, such as substance is more important than form, using the difference between cash and income statement of enterprise cash flow statement to increase step by step, write out the profit under the financial accrual system and the net cash under the realization system, analyze the reasons and solutions, and constantly ask questions from the perspective of business owners. Why don't companies make a profit when they have so much cash? Yes, it can be that inventory is occupied and accounts receivable are occupied. .....
An enterprise's financial report analysis! Urgent ... I tell you ~ ~ plus 286227594
Analysis of financial indicators of enterprise liquidity ratio
Liquidity is the ability of an enterprise to generate cash, which depends on the number of current assets that can be converted into cash in the near future.
(1) current ratio
Formula: current ratio = total current assets/total current liabilities
Significance: Reflect the ability of enterprises to repay short-term debts. The more current assets, the less short-term debt, the greater the current ratio, and the stronger the short-term solvency of enterprises.
The analysis shows that the short-term risk of corporate debt is greater when it is lower than normal. Generally speaking, business cycle, the amount of accounts receivable in current assets and inventory turnover rate are the main factors affecting the current ratio.
(2) Quick ratio
Formula: quick ratio = (total current assets-inventory)/total current liabilities.
Conservative quick ratio =0.8 (monetary fund+short-term investment+notes receivable+net accounts receivable)/current liabilities.
Significance: It can better reflect the ability of enterprises to repay short-term debts than the current ratio. Because the current assets also include the inventory that is slowly realized and may have depreciated, the current assets are deducted from the inventory and then compared with the current liabilities to measure the short-term solvency of the enterprise.
The analysis shows that the quick ratio below 1 is usually considered as low short-term solvency. An important factor affecting the credibility of quick ratio is the liquidity of accounts receivable. Accounts receivable on the books may not be realized and may not be reliable.
General tips for liquidity analysis:
(1) Factors to increase liquidity: available bank loan indicators; Long-term assets to be realized; Reputation of solvency.
(2) Factors that weaken liquidity: unrecorded contingent liabilities; Contingent liabilities arising from guarantee liability.
2. Asset management ratio
(1) Inventory turnover rate
Formula: inventory turnover rate = product sales cost/[(opening inventory+ending inventory) /2]
Significance: Inventory turnover rate is the main index of inventory turnover rate. Increasing inventory turnover rate and shortening business cycle can improve the liquidity of enterprises.
The analysis shows that the inventory turnover rate reflects the inventory management level. The higher the inventory turnover rate, the lower the inventory occupancy level, the stronger the liquidity, and the faster the inventory can be converted into cash or accounts receivable. It not only affects the short-term solvency of enterprises, but also is an important content of the whole enterprise management.
(2) Inventory turnover days
Formula: inventory turnover days =360/ inventory turnover rate
=[360* (beginning inventory+ending inventory) /2]/ product sales cost
Significance: the number of days for an enterprise to purchase inventory, put into production and sell. Increasing inventory turnover rate and shortening business cycle can improve the liquidity of enterprises.
The analysis shows that the inventory turnover rate reflects the inventory management level. The faster the inventory turnover rate, the lower the inventory occupancy level and the stronger the liquidity, and the faster the inventory can be converted into cash or accounts receivable. It not only affects the short-term solvency of enterprises, but also is an important content of the whole enterprise management.
(3) Accounts receivable turnover rate
Definition: The average number of times accounts receivable are converted into cash during the specified analysis period.
Formula: accounts receivable turnover rate = sales revenue/[(accounts receivable at the beginning+accounts receivable at the end) /2]
Significance: The higher the turnover rate of accounts receivable, the faster the recovery. On the contrary, it shows that the liquidity in accounts receivable is too sluggish, which affects the normal capital turnover and solvency.
According to the analysis, the turnover rate of accounts receivable should be considered in combination with the operation mode of enterprises. Using this indicator can not reflect the actual situation in the following situations: first, enterprises that operate seasonally; Second, the installment settlement method is widely used; Third, a large number of sales settled in cash; Fourth, a large number of sales at the end of the year or a sharp decline in sales at the end of the year.
(4) Average collection period
Definition: indicates the time required for an enterprise to obtain the right of accounts receivable, recover the money and convert it into cash.
Formula: average collection period = 360/ accounts receivable turnover rate.
= (accounts receivable at the beginning+accounts receivable at the end) /2]/ product sales revenue
Significance: The higher the turnover rate of accounts receivable, the faster the recovery. On the contrary, it shows that the liquidity in accounts receivable is too sluggish, which affects the normal capital turnover and solvency.
According to the analysis, the turnover rate of accounts receivable should be considered in combination with the operation mode of enterprises. Using this indicator can not reflect the actual situation in the following situations: first, enterprises that operate seasonally; Second, the installment settlement method is widely used; Third, a large number of sales settled in cash; Fourth, a large number of sales at the end of the year or a sharp decline in sales at the end of the year.
(5) Business cycle
Formula: business cycle = inventory turnover days+average collection cycle.
= {[(opening inventory+ending inventory) /2]* 360}/ product sales cost+{[(opening accounts receivable+ending accounts receivable) /2]* 360}/ product sales revenue
Significance: The business cycle is the time from acquiring inventory to selling inventory and recovering cash. Under normal circumstances, the short business cycle indicates that the capital turnover speed is fast; The long business cycle indicates that the capital turnover rate is slow.
Analysis hint: Business cycle should generally be analyzed together with inventory turnover rate and accounts receivable turnover rate. The length of business cycle not only reflects the asset management level of enterprises, but also affects the solvency and profitability of enterprises.
(6) Turnover rate of current assets
Formula: turnover rate of current assets = sales revenue/[(current assets at the beginning+current assets at the end) /2]
Significance: The turnover rate of current assets reflects the turnover rate of current assets. The faster the turnover rate, the more economical the current assets, which is equivalent to expanding the investment of assets and enhancing the profitability of enterprises. To slow down the turnover rate, it is necessary to supplement the current assets to participate in the turnover, which will waste assets and reduce the profitability of enterprises.
The analysis suggests that the turnover rate of current assets should be analyzed together with inventory and accounts receivable, and used together with indicators reflecting profitability, which can comprehensively evaluate the profitability of enterprises.
(7) Total assets turnover rate
Formula: total assets turnover rate = sales revenue/[(total assets at the beginning+total assets at the end) /2]
Significance: This indicator reflects the turnover rate of total assets. The faster the turnover, the stronger the sales ability. Enterprises can adopt the method of small profits but quick turnover to speed up asset turnover and increase absolute profits.
It is considered that the total assets turnover rate index is used to measure the ability of enterprises to make profits by using assets. It is often used together with indicators reflecting profitability to comprehensively evaluate the profitability of enterprises.
3. Debt ratio
Debt ratio is the ratio reflecting the relationship between liabilities and assets and net assets. It reflects the ability of enterprises to pay long-term debts due.
(1) Asset-liability ratio
Formula: Asset-liability ratio = (total liabilities/total assets) * 100%
Importance: Reflect the ratio of the capital provided by creditors to the total capital. This indicator is also called leverage ratio.
The analysis shows that the greater the debt ratio, the greater the financial risks faced by enterprises and the stronger their ability to obtain profits. If enterprises are short of funds and rely on liabilities to maintain, resulting in a particularly high asset-liability ratio, debt risk should be paid special attention to. The asset-liability ratio is 60%-70%, which is reasonable and steady; When it reaches more than 85%, it should be regarded as an early warning signal and enterprises should pay enough attention to it.
(2) Proportion of property rights
Formula: Property right ratio = (total liabilities/shareholders' equity) * 100%
Significance: Reflect the relative proportion of capital provided by creditors and shareholders. Reflect whether the capital structure of the enterprise is reasonable and stable. It also shows that the capital invested by creditors is protected by shareholders' rights and interests.
Analysis hint: Generally speaking, high equity ratio is a high-risk and high-return financial structure, while low equity ratio is a low-risk and low-return financial structure. From the perspective of shareholders, in the period of inflation, enterprises can transfer losses and risks to creditors through lending; In the period of economic prosperity, debt management can get extra profits; In the period of economic contraction, borrowing less can reduce the interest burden and financial risks.
(3) tangible net debt ratio
Formula: debt ratio of tangible assets = [total liabilities/(shareholders' equity-intangible assets) ]* 100%
Significance: The expansion of property right ratio index reflects the degree to which the capital invested by creditors is protected by shareholders' rights and interests when enterprises are liquidated more cautiously and conservatively. Regardless of the value of intangible assets such as goodwill, trademarks, patents and non-patented technologies, they shall not be used to pay off debts. For the sake of prudence, they are all considered non-repayable.
Analysis and suggestion: From the perspective of long-term solvency, the low ratio indicates that the enterprise has good solvency and the debt scale is normal.
(4) Multiples of earning interest
Formula: Earned interest multiple = EBIT/interest expense.
= (total profit+financial expenses)/(interest expenses in financial expenses+capitalized interest)
Generally, an approximate formula can also be used:
Earned interest multiple = (total profit+financial expenses)/financial expenses
Significance: The ratio of operating income to interest expenditure of an enterprise is used to measure the ability of an enterprise to repay loan interest, also called interest guarantee multiple. As long as the multiple of earning interest is large enough, the enterprise has enough ability to pay interest.
The analysis shows that enterprises should have enough income before interest and tax to ensure that they can afford capitalized interest. The higher this index is, the smaller the debt interest pressure of enterprises will be.
4. Profit rate
Profitability is the ability of an enterprise to earn profits. Investors and debtors are very concerned about this project. When analyzing profitability, factors such as abnormal items such as securities trading, business items that have been or will be stopped, special items such as major accidents or legal changes, and cumulative effects caused by changes in accounting policies and financial systems should be excluded.
(1) net sales rate
Formula: net sales interest rate = net profit/sales revenue * 100%.
Significance: This indicator reflects the net profit per yuan of sales revenue. Income level representing sales revenue.
According to the analysis, while increasing sales revenue, enterprises must obtain more net profit accordingly, so as to keep the net sales interest rate unchanged or improve. The net profit rate of sales can be decomposed into sales gross profit rate, sales tax rate, sales cost rate and expense rate during sales.
(2) Gross profit margin of sales
Formula: gross sales margin = [(sales revenue-sales cost)/sales revenue ]* 100%.
Meaning: It means how much money can be used for expenses of each period after deducting the sales cost from each yuan of sales income, thus forming a profit.
According to the analysis, the gross profit rate of sales is the initial basis of the net profit rate of sales. Without a large enough gross sales margin, it is impossible to form a profit. Enterprises can analyze the gross profit margin of sales on schedule, so as to judge the occurrence and proportion of sales revenue and sales cost.
(3) Net interest rate on assets (return on total assets)
Formula: net interest rate of assets = net profit/[(total assets at the beginning+total assets at the end) /2]* 100%.
Significance: Compare the net profit of an enterprise in a certain period with its assets, and show the comprehensive utilization effect of its assets. The higher the index, the higher the efficiency of asset utilization, indicating that enterprises have achieved good results in increasing revenue and reducing expenditure, and vice versa.
The analysis shows that the net interest rate of assets is a comprehensive index. The net profit is closely related to the number of assets, asset structure and management level of an enterprise. The reasons that affect the net interest rate of assets are: product price, unit product cost, product output and sales volume, and capital occupation. We can combine DuPont financial analysis system to analyze the problems existing in the operation.
(4) Return on net assets (return on equity)
Formula: ROE = net profit/[(total owner's equity at the beginning+total owner's equity at the end) /2]* 100%.
Significance: ROE reflects the return on investment of company owners' equity, also known as ROE or ROE, which is very comprehensive. Is the most important financial ratio.
Analysis hint: DuPont analysis system can decompose this index into many related factors, and further analyze all aspects that affect owners' equity reward. Such as asset turnover rate, sales profit rate, equity multiplier and so on. In addition, when using this indicator, we should also analyze "accounts receivable", "other receivables" and "prepaid expenses".
5. Cash flow analysis
The main functions of cash flow statement are: first, to provide the actual situation of enterprise cash flow; Second, it helps to evaluate the quality of current income, third, it helps to evaluate the financial flexibility of enterprises, and fourth, it helps to evaluate the liquidity of enterprises; Fifth, it is used to predict the future cash flow of enterprises.
Liquidity analysis
Liquidity analysis is the ability to quickly convert assets into cash.
(1) Cash maturity debt ratio
Formula: Cash-to-debt ratio = net cash flow from operating activities/debt due in the current period.
Debt due in current period = long-term debt due within one year+notes payable.
Significance: Comparing the net cash flow generated from operating activities with the debts due in the current period can reflect the enterprise's ability to repay the debts due.
According to the analysis, besides borrowing new debts to pay off old debts, the cash inflow from business activities should generally be used to pay off debts.
(2) Cash current debt ratio
Formula: ratio of cash current liabilities = annual net cash flow generated from operating activities/current liabilities at the end of the period.
Significance: It reflects the degree of cash generated from operating activities to protect current liabilities.
According to the analysis, besides borrowing new debts to pay off old debts, the cash inflow from business activities should generally be used to pay off debts.
(3) Total cash-to-debt ratio
Formula: Cash flow debt ratio = net cash flow from operating activities/total liabilities at the end of the period.
Significance: The cash inflow from business activities can be used to pay off debts except for borrowing new debts to pay off old debts.
Analysis hint: the calculation results should be compared with the past, and compared with peers to determine the level. The higher the ratio, the stronger the ability of enterprises to bear debts. This ratio also reflects the maximum interest-paying ability of enterprises.
Ability to obtain cash
(1) Cash sales ratio
Formula: sales cash ratio = net cash flow from operating activities/sales.
Significance: Reflect the net inflow of cash per yuan of sales, and the larger the value, the better.
Analysis hint: the calculation results should be compared with the past and the industry to determine the level. The higher the ratio, the better the income quality of the enterprise and the better the capital utilization effect.
(2) Operating cash flow per share
Formula: Operating cash flow per share = net cash flow from operating activities/number of common shares.
The number of ordinary shares shall be filled in by the enterprise according to the actual number of shares.
Standard value set by the enterprise: depending on the actual situation.
Significance: Reflect the net cash obtained from operation per share, and the larger the value, the better.
Analysis suggests that this index reflects the maximum ability of enterprises to distribute cash dividends. Beyond this limit, you must borrow money to pay dividends.
(3) Cash recovery rate of all assets
Formula: cash recovery rate of all assets = net cash flow from operating activities/total assets at the end of the period.
Significance: Explain the ability of enterprise assets to generate cash. The greater the value, the better.
Analysis Tip: If the above indicators are counted backwards, we can analyze the length of time required for all assets to be recovered with cash from operating activities. Therefore, this index reflects the significance of enterprise asset recovery. The shorter the payback period, the stronger the ability of assets to obtain cash.
Financial elasticity analysis
(1) Cash meets investment ratio
Formula: cash investment ratio = cumulative net cash flow from operating activities in recent five years/sum of capital expenditure, inventory increase and cash dividend in the same period.
Data retrieval method: the cumulative net cash flow generated by business activities in the last five years should refer to the sum of the net cash flow generated by business activities in the previous five years; The sum of capital expenditure, inventory increase and cash dividend in the same period is also taken from the relevant columns of the cash flow statement, all taking the average of the past five years;
Capital expenditure comes from cash items paid for the purchase and construction of fixed assets, intangible assets and other long-term assets;
When inventory increases, data is extracted from the cash flow statement. Take the opposite number of the column of inventory decrease, that is, the increase of inventory; Cash dividend refers to the cash items paid by distributing profits or dividends in the main table of cash flow statement. If the new enterprise accounting system is implemented, the cash paid for dividends, profits or interest in this project will be distributed in the following ways: the cash paid for dividends, profits or interest in the main table minus the financial expenses in the attached table.
Significance: Explain the ability of cash generated by enterprise operation to meet capital expenditure, inventory increase and cash dividend distribution. The greater the value, the better. The greater the proportion, the higher the self-sufficiency rate of funds.
Analysis prompt: reaching 1 means that the enterprise can use the cash obtained from operation to meet the funds needed for enterprise expansion; If it is less than 1, it means that part of the enterprise's funds must be supplemented by external financing.
(2) Cash dividend guarantee multiple
Formula: cash dividend guarantee multiple = operating cash flow per share/cash dividend per share.
= Net cash flow from operating activities/cash dividends
Significance: The greater the ratio, the stronger the cash dividend ability, and the greater the value, the better.
Analysis Tip: The analysis results can be compared with those of peers and enterprises in the past.
(3) Operation index
Formula: Operating indicator = net cash flow generated from operating activities/cash generated from operating activities.
In which: operating cash = net income from operating activities+non-cash expenses.
= net profit-investment income-non-operating income+non-operating expenses+depreciation in current period+amortization of intangible assets+amortization of deferred expenses+amortization of deferred assets.
Significance: Analyze the proportional relationship between accounting income and net cash flow, and evaluate the income quality.
Analysis tips: close to 1, indicating that the cash that the enterprise can obtain is equivalent to the cash that it should obtain, and the income quality is high; If it is less than 1, the income quality of the enterprise is not good enough.
Analysis report of enterprise financial report