解读公司财务报表分析的实用技巧.docx

财务报表分析的对象是企业的各项基本活动。公司财务报表分析技巧可以分为四种，包括横向分析、纵向分析、趋势百分率分析、财务比率分析。Object of financial statement analysis is the basic activities of enterprises. Company / financial statement analysis techniques can be divided into four types, including analysis of horizontal analysis, vertical analysis, trend analysis, the percentage of financial ratios.一、财务报表横向分析A horizontal analysis, financial statements横向分析的前提，就是采用前后期对比的方式编制比较会计报表，即将企业连续几年的会计报表数据并行排列在一起，设置“绝对金额增减”和“百分率增减”两栏，以揭示各个会计项目在比较期内所发生的绝对金额和百分率的增减变化情况。Horizontal analysis is the premise, pre and post contrast method to make comparative accounting statements, parallel arranged together to enterprises for several consecutive years of / accounting data, set up the absolute amount of change and percentage increase or decrease in two column, to reveal the various accounting item in the ratio change of a period the absolute amount and percentage of.二、财务报表纵向分析Two, the longitudinal analysis of the financial statement横向分析实际上是对不同年度的会计报表中的相同项目进行比较分析;而纵向分析则是相同年度会计报表各项目之间的比率分析。纵向分析也有个前提，那就是必须采用“可比性”形式编制财务报表，即将会计报表中的某一重要项目(如资产总额或销售收入)的数据作为100%，然后将会计报表中其他项目的余额都以这个重要项目的百分率的形式作纵向排列，从而揭示出会计报表中各个项目的数据在企业财务报表中的相对意义。采用这种形式编制的财务报表使得在几家规模不同的企业之间进行经营和财务状况的比较成为可能。由于各个报表项目的余额都转化为百分率，即使是在企业规模相差悬殊的情况下各报表项目之间仍然具有“可比性”。但是，要在不同企业之间进行比较必须有一定的前提条件，那就是几家企业都必须属于同一行业，并且所采用的会计核算方法和财务报表编制程序必须大致相同。Horizontal analysis is actually on the same project different annual accounting statements were compared and analyzed; and the longitudinal analysis is the analysis of the ratio between the same annual accounting statement items. Longitudinal / analysis is a prerequisite, that is must be comparable form of the preparation of financial statements, an important project to be in the accounting statements (such as total assets and sales revenue) data as a percentage of 100%, then the balance of other items in the financial statements on this important project in the form of longitudinal arrangement, which reveals the relative significance of each item in the financial statements data in the financial statements of companies. Use this form to preparation of the financial statements that the comparison has become a business operation and financial status in several enterprises of different sizes may be. Because the balance of each report item into percentage, even in the enterprise scale difference between different situation of each report item is still comparability. But, to be compared must have certain prerequisites in between different enterprises, it is a few enterprises must belong to the same industry, and the accounting method and the preparation of the financial statements should be roughly the same program.三、趋势百分率分析Three, the percentage of trend analysis趋势分析看上去也是一种横向百分率分析，但不同于横向分析中对增减情况百分率的提示。横向分析是采用环比的方式进行比较，而趋势分析则是采用定基的方式，即将连续几年财务报表中的某些重要项目的数据集中在一起，同期年的相应数据作百分率的比较。这种分析方法对于提示企业在若干年内经营活动和财务状况的变化趋势相当有用。趋势分析首先必须选定某一会计年度为基年，然后设基年会计报表中若干重要项目的余额为100%，再将以后各年度的会计报表中相同项目的数据按基年项目数的百分率来列示。Analysis of trend analysis looks is a transverse percentage, but different from the horizontal analysis of increase or decrease in percentage tips. Horizontal analysis is compared with sequential manner, and trend analysis is the radical way, some important projects to be financial statements for several consecutive years of data together, compared with corresponding data during the same period as percentage. This analysis method is useful for the trend that enterprise business activities and financial situation in several years. Trend analysis must first select a fiscal year as the base year, balance and then set a number of important projects base year accounting statement is 100%, then the same projects in the annual accounting statements of a percentage of the base year data of the number of items to list.四、财务比率分析Four, financial ratio analysis财务比率分析是财务报表分析的重中之重。财务比率分析是将两个有关的会计数据相除，用所求得的财务比率来提示同一会计报表中不同项目之间或不同会计报表的相关项目之间所存在逻辑关系的一种分析技巧。然而，单单是计算各种财务比率的作用是非常有限的，更重要的是应将计算出来的财务比率作各种维度的比较分析，以帮助会计报表使用者正确评估企业的经营业绩和财务状况，以便及时调整投资结构和经营决策。财务比率分析有一个显著的特点，那就是使各个不同规模的企业的财务数据所传递的经济信息标准化。正是由于这一特点，使得各企业间的横向比较及行业标准的比较成为可能。举例来说，国际商业机器公司(IBM)和苹果公司(Apple Corporation)都是美国生产和销售计算机的著名企业。从这两家公司会计报表中的销售和利润情况来看，IBM要高出苹果公司许多倍。然而，光是笼统地进行总额的比较并无多大意义，因为IBM的资产总额要远远大于后者。所以，分析时绝对数的比较应让位于相对数的比较，而财务比率分析就是一种相对关系的分析技巧，它可以被用作评估和比较两家规模相差悬殊的企业经营和财务状况的有效工具。Financial ratio analysis is the priority among priorities of financial statement analysis. Financial ratio analysis is the two accounting data about the division, using financial ratios obtained to suggest that an analytical skills between related projects between different program in the same or different accounting statements accounting statements of the existing logical relationship. However, only the calculation of the various financial ratios of the role is very limited, more important is the comparative analysis of financial ratio should be calculated for various dimensions, to help users of accounting statements to correctly evaluate the operating performance and financial situation of the enterprise, in order to adjust the investment structure and management decision. Financial ratio analysis has a remarkable characteristic, that is to make the economic information standard delivered financial data of different scale enterprises. It is because of this characteristic, compared to make horizontal comparison between enterprises and industry standard possible. For example, the International Busine Machines Corp (IBM) and Apple Corp (Apple Corporation) is a