非财务经理的财务培训教材

FinancialFundamentaltoNon-FinancialExecutives财务管理-非财务经理必备,2001年12月,目标Objective：了解财务管理原理和常用财务决策Understandfinancialmanagementprinciples&basicfinancialdecisions了解财务信息系统的基本构架Understandfinancialinformationsystemframework了解财务报表分析基本方法Analysissamplefinancialreports方法Method：,课程概要COURSESUMMARY,一、企业财务管理概览FinancialManagementFramework1企业财务本质EnterprisesFinancialEssence2企业基本目标CorporateObjectives3管理人员财务职能ManagersFinancialResponsibility二、企业经营活动中的财务优化管理FinancialManagementOptimization1预算管理BudgetManagement2投资评估InvestmentEvaluation3生产管理ProductionManagement三、财务管理工具：现代财务信息系统FinancialManagementTools:FinancialInformationSystems1财务报表FinancialStatements2财务报表分析FinancialStatementsAnalysis四、小结Summary,第一部分ChapterOne企业财务管理概览FinancialManagementFramework,企业的财务本质,原材料存货,成品存货,在产品存货,供应商,工厂/办公室固定资产,现金,股东,债权人,投资,分红/回购,贷款,还款/利息,应付,人工及服务,固定资产,材料,市场/客户,应收,现金销售,赊销,市场销售费用,折旧,AccountingEquation会计方程,A=Oi+Li,1.FunctionofTime时间函数T0:A0=L0+OE0T1:A1=L1+OE1A0+A=L0+L+OE0+OEOE0Tn2.Maximizeownersequity-businessobjective游戏规则：股东权益最大化,1.利润Profit2.风险Risk,TheGoalsoftheFirm企业基本目标:MaximizeValue,管理人员财务职能ManagersFinancialResponsibility,一、合理分配公司资金资源Allocatingcapitalresources二、提高公司资金使用效率Improvingcapitalefficiency三、保护公司资产安全Protectingofcompanyassets,第二部分ChapterTwo企业经营活动中的财务优化管理FinancialManagementOptimization,GoalsSetting目标设置AlternativesChoice方案/路径，评估/选择ResourcesOrganization组织资源Pre-liveSimulation预演/彩排,为什么要预算WhyBudget,MarketAnalysis市场分析MissionStatement公司宗旨3-5YearObjectives3年目标SelfSWOTAnalysis差异分析ProductsandServices产品/服务选择FinancialFeasibility财务可行性分析OneYearBudget年度预演,如何预算HowtoBudget,CapitalExpenditure资本性支出ExpensesControl费用控制PerformanceFeedback进展反馈PerformanceControl进展控制调整,预算管理BudgetManagement,预计现金流量FutureCashFlowFi贴现率CashDiscountRater净现值NetPresentValue,投资决策InvestmentDecision,nNPV=i=0,Fi,(1+r),i,NPV0ori10%15%Payback回收期2-5年BuyorLease租或买?,Fi,投资决策标准InvestmentDecisionCriteria,时间Time,MakeorBuy制造或购买SpecialOrder特殊订单DivisionDrop部门精减ProductsMix产品构成,营运决策OperationDecisions,利润率和贡献毛益ProfitMarginandContributionMargin,去除产品所有成本后剩余的价格ExcessofPriceoverUnitFullCost,固定销售费用和管理费用FixedMarketingandAdministrativeCosts,变动销售费用和管理费用VariableMarketingandAdministrativeCosts,固定生产成本FixedManufacturingCosts,变动生产成本VariableManufacturingCosts,销售价格SalesPrice8.00,贡献毛益ContributionMargin3.50,每件产品的变动成本VariableCostperunit4.50,利润率ProfitMargin1.65,变动成本法的存货价值InventoryValueusingVariableCostingMethod4.00,每件产品的全部成本FullCostperunit6.35,边际贡献ContributionMargin=P-V,利润=总收入（TR）-总成本（TC）=价格X售量-（固定成本+单位变动成本X售量）=PX-（F+VX）=-F+（P-V）X,营运决策依据,边际贡献率ContributionMarginRatio=,P-V,P,Profit,PX,VX,利润Profit,产销量Volume,100,营运决策依据,损益平衡点x=BreakevenPoint,最低订量LowestOrderVolume（生产量Capacity）最低售价LowestPrice制造或购买MakeorBuy特殊订单SpecialOrder部门精减DivisionDrop产品构成ProductsMix,P-V,F,=,CM,F,或损益平衡销售额：x*P=（BreakevenRevenue,P-V,F,）*P,S=,（P-V）/P,F,决策应用DecisionMaking,第三部分ChapterThree现代财务信息系统FinancialInformationSystems,财务会计FinancialAccounting,财务会计FinancialAccounting,使用者Users,企业的外部人士-股东,债权人等,Externalusersofinformation-usuallyshareholders,financialanalysts,andcreditors,通用会计准则GenerallyAcceptedAccountingPrinciples,受会计准则监管,Compliancewithgenerallyacceptedaccountingprinciples,时间焦点FutureversusPast,使用过去会计期间的数据评估管理者的表现,Useshistoricaldatainevaluatingperformanceofthefirmanditsmanagersbyoutsiders,报告需求ReportingRequirements,规则中要求的信息,呈现的内容DetailPresented,呈现的是汇总数据,Regulationsoftenspecifyhowmuchinformationisenough,Summarydataarepresented,管理会计ManagerialAccounting,管理会计ManagerialAccounting,Internalusersofinformation-usuallymanagers.,Neednotcomplywithgenerallyacceptedaccountingprinciples,Usesestimatesofthefuturefordecisionmakingandhistoricaldataforinternalperformanceevaluation.,Internalcost/benefitevaluationdetermineshowmuchinformationisenough,内部费用和利润评估所需的信息,Moredetaileddataarerequiredaboutproductcosts,revenues,andprofits.,使用者Users,企业的内部人士-通常是管理者,不受会计准则监管,通用会计准则GenerallyAcceptedAccountingPrinciples,时间焦点FutureversusPast,使用预计的数据作决策依据,历史数据作内部管理评估,对于产品成本收入利润需要更具体的数据,报告需求ReportingRequirements,呈现的内容DetailPresented,FinancialReportsFormat报表格式,Assets资产,Liability负债,OwnersEquity所有者权益,BalanceSheet资产负债表,IncomeStatement损益表,收入Revenue,减:支出Cost,利润Profit,Dothecompanyandindividualbelongtoownersequityorliability?我们所在单位个人是股东的资产,还是负债?,TheTwoDealingCompaniesFinancialReports两个交易公司的财务报表,资产Assets,负债Liability,所有者权益OwnersEquity,收入Revenue,减:支出Cost,公司Company,资产Assets,减:支出Cost,银行Bank,银行现金ACashinBank,客户存款AClientDeposit,A的利息收入InterestIncome,A的利息支出InterestExpense,贷款BLoan,B的利息支出InterestExpense,应收BAccountReceivable,B的利息收入InterestIncome,所有者权益OwnersEquity,负债Liability,收入Revenue,DoubleEntryAccounting复式记账系统,Large-ScaleIndustrializationManagement大规模工业化经营,SmallWorkshopManagement小作坊经营,Manager=Owner管理者=所有者SingleEntrySystem简式记账系统,ManagerOwner管理者所有者DoubleEntrySystem复式记账系统,A=Oi+Li,CashAccountBeginningBalance现金期初额CashAccountEndingBalance现金期末额,IndustrialRevolutionActivator工业革命催化剂1、Largescalefinancialresourcesandspecializedskillssynergy,add-valueefficiencyofsocialfortune资金资源与专业管理技能相结合，社会财富增值效率；2、Ownershiptransfer,accommodateliquidity所有权转移，资金市场效率；3、Liabilityimportfinancialleverage,accommodatedifferentrisk/returnexpectation.债务引入财务杠杆，风险/回报。,FinancialStatements财务报表,T0:Cash0+CA0+FA0=CL0+LL0+OE0T1:Cash0+Cash+CA0+CA+FA0+FACashFlowStatement现金流量表=CL0+CL+LL0+LL+OE0+OEIncomeStatement损益表Tn.,BalanceSheet资产负债表,Revenue-Expenses收入-费用,时间,OE,LL,CL,Cash,CA,FA,T0,T1,资产负债表,产品成本,销售费用,管理费用,利润,收入,融资活动,投资活动,营运现金,期初现金余额,期末现金余额,股东权益变量,现金变量,科目,FA1,LL1,CL1,财务架构概述,利息,税,盈利能力分析ProfitabilityAnalysis,资产回报率ROA,NetIncome,AverageTotalAssets,净利润,平均总资产,=,净利润,总收入,=,X,总收入,总资产,利润率,=,X,资产周转率,=,NetIncome,TotalRevenue,X,TotalRevenue,TotalAssets,ProfitMargin,=,X,AssetsTurnover,周转率分析TurnoverAnalysis,资产周转率AssetsTurnover=,年度总收入AnnualRevenue,年度平均总资产AnnualAverageAssets,年度应收款销售总额SalesinA/R,平均应收账款AverageAccountReceivable,年度产品成本TotalProductCost,平均存货额AverageInventory,应收账款周转率AccountReceivableTurnover=,存货周转率InventoryTurnover=,固定资产周转率FixedAssetsTurnover=,总收入TotalRevenue,平均固定资产AverageFixedAssets,NOWC营运流动资金,=,应收账款+预付账款+存货-应付账款-预收账款,现金Cash,应收账款AccountsReceivable,存货Inventory,预付账款PaymentinAdvance,固定资产FixedAssets,资产Assets,应付账款AccountsPayable,预收账款UnearnedRevenue,长期负债Long-TermLiability,股东权益OwnersEquity,营运流动资金NOWC,负债和股东权益Liability&OwnersEquity,流动资金周转率WorkingCapitalTurnover=,总收入Revenue,流动资金WorkingCapital,AccountsReceivable+PaymentinAdvance+Inventory-AccountsPayable-UnearnedRevenue,股东权益回报率=ROE,净利润NetProfit,平均股东权益AverageOwnersEquity,=,总收入,净利润,X,总收入,平均总资产,X,平均股东权益,平均资产,利润率,=,X,资产周转率,X,杠杆比率,盈利能力分析ProfitabilityAnalysis,=,Revenue,NetProfit,X,Revenue,AverageAssets,X,AverageOwnersEquity,AverageAssets,ProfitMargin,=,X,AssetsTurnover,X,LeverageRatio,ROA模型/ROAModel,Sales销售,59,Costofgoodssold产品成本,24,Minus减,Contribution贡献毛益,35,Commoncosts销售费用,24,Mi