英文实习报告

1、InternshipReportFinancialAnalysisofaTeashopSTUDENT:STUDENTNO.:COLLEGE:MAJOR:INSTRUCTOR:AbstractWithinmyinternshipintheteashop,Iworkedastheaccountantassistantfirstandlaterasaninventorycounter.Iunderstoodhowtheaccountingprocessesactuallyworkinalocalcompanyandhowdidtheycalculatethevalueofinventories.Ba

2、sedontherelevantknowledgeonourbooks,suchascostflowassumption,inventorysystemandmeasures,financialratios,Ibrieflyanalyzedthesesystemsintheteashop.Theteashopislegitimatedtosellallsortsoftea,themostpopularonesaregreentea,redteaandoolong.Itisasoleproprietorshipcompany.Itsstatusdeterminesittoadoptthosesy

3、stemandmethodsthatareeasy,cost-savingandconvenienttopractice.Asaresult,itsinventorysystemandcostflowassumptionarealldeterminedbasedontherule.Foraccountingratios,theteashopitselfdidnotprepareacompletebalancesheetbecauseitisnotlistedinthestockmarket.SoIonlyincludessomefinancialdatanecessaryfortheanaly

4、sis.KeyWordssoleproprietorship;teashop;inventorysystem;costflowassumption;accountingratio毕业生实习报告一对一个茶庄的财务分析【摘要】2009年三月至四月，我在茶庄进行了为期一个月的实习。这篇报告主要记录了我实习期的工作，以及根据本专业所学的会计方面的知识对本茶庄的会计运用的分析包括盘存方法、一些财务指标的解释和分析等，并根据实际情况，给出了一些相应的改进措施。【关键词】财务指标；茶庄；盘存法;个体企业Content1. Introduction(42. Analysistool(52.1. Financi

5、alratios(52.2. Inventorysystemandmeasurement(62.3. Costflowassumption(73. FinancialRatioanalysis(84. Inventorysystemanalysis(95. Costflowassumptionanalysis(96. Conclusion(117. Reference(128. Acknowledgements(13IntroductionMyinternshipperiodlastedfrommiddleMarchtotheendofmiddleApril.Myjobistocheckthe

6、inventorywiththepersoninchargeofcheckingandassisttheaccountant.Duringthisperiod,Ihavelearnedhowateashoporganizesandtheaccountingprocessincludingmakingjournalentries,preparingaccountingfilesandcheckinginventories.Inthereality,acompanyalwayshastomakedecisionsthatourbookswillnevercover.Somearecloselyre

7、latedwiththesocietyenvironment,suchasguanxi.Thuswecanlearnthebasicknowledgefrombooks,buthowtousethemproperlyinthesocietyisanotherkindofknowledgeaswell.Themaincustomerisadultmen,somepurelyenjoythetasteoftea,andsomebuyteaasapresenttoothers.Also,asmallrangeofwomencametobuyteaaswell,andtheytoldmethatthe

8、ythoughtdrinkingteacanhelploseweight,especiallyoolong.Inordertopromotethesales,theteashophascarriedoutapromotionwhichspecializedondifferentkindsofconsumertargetsanddifferentconsumerneeds.AnalysisToolFinancialratiosToanalysisacompany'sperformance,therearemanydifferentways,onesignificantandeasyway

9、istocalculateratios,throughthosenumbers,wecanhowexactlyacompanyperforms.Foraprivatecompany,therearemainly4kindsofratios:(ICompanyprofitabilityratios:theyareusedtoevaluatehoweffectiveacompanyhasbeeninmeetingitsoverallprofitobjectives,particularlyinrelationtotheresourcesinvested.Including:Profitmargin

10、:usedtoevaluateacompany'sefficiencyincontrollingcostsandexpensesinrelationtosales.Profitmargin=netincome/netsalesReturnontotalassets:indicateshowefficientlyacompanyusesitseconomicresources.Returnontotalassets:netincome/totalassets(2Liquidityratios:usedtoevaluateacompany'sabilitytomeetitscurr

11、entmaturingfinancialobligations.Theseratiosgenerallyinvolveallormostofthecomponentsofacompany"sworkingcapital.Including:Currentratio:probablythemostcommonlyusedratiotoevaluateacompany-'sshorunliquidity.Sometimesitisreferredtoastheworkingcapitalratio.Currentratio=currentassets/currentliabili

12、tiesAcid-testratio:amoreseveretestofacompany-termdebs-playinigabilities.Acid-testratio=quickassets/currentliabilities(3Activityratios:areusedtoevaluatetheliquidityofcertaincurrentassetsbyestimatingthelengthofvarioussegmentsofacompany'soperatingcycle.Theratiosareindicatorsoftheefficiencywithwhich

13、thecompanyusesitsshort-termeconomicresources.Inventoryturnover:indicatesthenumberiftimestheinveitoryis“turnedover”orsoldduringthatperiod.Inventoryturnover=costofgoodssold/averageinventoryReceivablesturnover:indicateshowmanytimesreceivablesare“turnedover”orcollectedeachperiod.Receivablesturnover=netc

14、reditsales/averagenetreceivablesPayablesturnover:measuresthenumberoftimesaccountspayableturnoverduringtheyear.Payablesturnover=costofgoodssold/averageaccountspayable(dStabilityratios:usedtoevaluatethelong-runsolvencyandstabilityofacompany.Theyprovideevidenceofthesafetyoftheinvestmentsinthecompanybyl

15、ong-termbondholders,preferredstockholders,andcommonstockholders.Debtratio:indicatesthepercentageoftotalassetscontributedbycreditors.Debtratio=totalliabilities/totalassetsTimesinterestearned:usedtoevaluatetheabilityofacompanytocoveritsinterestobligationsthroughitsannualearnings.Itisameasureofthesafet

16、yofcreditorsinvestmentsinthecompany.Timesinterestearned=pretaxoperatingincome/interestexpenseInventorysystemandmeasurementAcompanymayaccountforinventoryquantitiesandcostsusingeithertheperpetualsystemortheperiodicsystem.Perpetualinventorysystem:requiresthecompanytomaintainacontinuousrecordofthephysic

17、alquantitiesinitsinventory.Itrecordsthepurchase,orproduction,anduseofeachitemofinventoryindetailedsubsidiaryrecords,althoughoftenonlyinunitswithoutincludingcost.Periodicinventorysystem:donotrequirethecompanytomaintainacontinuousrecordofthephysicalquantities(orcostsofinventoryonhand.Ittakesphysicalco

18、untsperiodically,whichshouldbeatleastonceayearandgenerallyattheendoftheyear.CostflowassumptionsBecauseofthevariationsinprice,thecostofeachinventorymaybedifferent.Andaproblemoccurred,howtorecordthecostofinventory?Costflowassumptionssolvedthisproblem.Themajorcostflowassumptionscurrentlyusedarelistedin

19、thefollowing:Specificidentification:underthis,acompanyidentifieseachunitsoldandeachunitremainingintheendinginventoryandincludestheactualcostsofthoseunitsincostofgoodssoldandendinginventory,respectively.First-in,first-out(FIFO:underthis,acompanyincludestheearliestcostsincurredinthecostofgoodssold,and

20、includesthemostrecentcostsintheendinginventory.Inotherwords,itassumesthatthegoodspurchasedfirstaresoldoutfirst.Averagecost:underthisassumption,acompanyconsidersallthecostsandunitstobecomingledsothatnoindividualunitsorcostsareidentified.Itisalsoknownastheweightedaveragemethod.Inotherwords,itmixedalli

21、nventoriesandcalculatedanaveragecost.Last-in,first-out(LIFO:underthisassumption,acompanyincludesthemostrecentcostsincurredinthecostofgoodssold,andincludestheearliestcostsintheendinginventory.Inotherwords,itassumesthatgoodspurchasedinthelastaresoldoutfirst.ItistheoppositeofFIFO.FinancialRatioanalysis

22、Theteashopisasoleproprietorshipcompany.Takingsomenumbersfromthenetincomesheetandassetssection,wecangetthefollowinganalysisratios:Profitmargin:14.1%ReturnonTotalAssets:48%InventoryTurnover:17.36timesDebtratio:0Receivablesturnover:1000timesProfitmarginis14.1%,thatmeanscostsandexpensesoccupy85.9%oftota

23、lsales.Agreatmanycostsandexpensesincurredfromthefirststepinproductiontothefinalsale.Thecostofrawmaterialandlaborprobablyoccupyahighpercentinthetotalcost.Inordertobemoreefficientinsales,ithastodecreasecostsandexpenses.Findingnewwaystodecreasecostisimportantbecauseprofitistheessentialofacompany,andthe

24、nprofitmarginwillgoup.Returnontotalassetsis14.2%,itmeansnetincomeis14.2%oftotalassets.Differentindustrymayhavedifferentlevelsofreturnontotalassets.Intheteashopindustry,sufficientinventoryisthemostimportantaspect.Onlywithasmallshopandoneortwoemployees,canateashopopen.Thusithasnottoinvestalotinfixedas

25、sets.Asaresult,returnontotalassetsratiois48%,whichisprettyhighcomparedwithotherindustries.Tofurtherimprovethisratio,theteashopcanestimatetheneedsofteaandstorethemostefficientnumberoftea.Thiscandecreasetheinventoryvalueandmakethecashflowsmorefluently.Inventoryturnoveris17.36times.Inventorycanbesold17

26、.36timesayear.Generally,thehighertheinventoryturnover,themoreeffectivethecompanyisintheoperations,thelessertheamountofinvestmentthatmustbetiedupininventoryandtheshortertheoperatingcyclenecessarytoreplenishcash.Andfortheteashop,inventoryturnoverisnotbad,thusitenablesthecompanytohavemoremoneytodoother

27、operatingactivities.Debtratiois0,meanstheteashopborrowsnothing,andtheownerprovidesallthefundsneeded.AsIhavementionedbefore,itisasoleproprietorshipcompany.0debtratioindicatesitcanborrowsomemoneyfrombanks,orotherpeople,aslongastheinterestrateisnothigh,andthebenefitofborrowingmoneyisgreaterthanthepitfa

28、lls.Receivablesturnoveris1000times,accountreceivablesarecollected1000timesayear.Usually,customerspayatthetimeofpurchasingtea,onlythosecustomerswhobuyalargeamountofteaandareacquaintanceoftheownercanpaylater.Andaquickerreceivablescollectionperiodenablesthecompanytoinvestmore.nventorysystemanalysisThet

29、eashopusestheperiodicinventorysystem,becauseteaisrelativelylowcostandeasytocount.Also,installingtheperpetualinventorysystemcostsalot,thebenefitsametobemuchsmallerthantheexpenses,soitisnotnecessarytoinstalltheperpetualinventorysystem.Usually,attheendofeachmonth,thepersoninchargeofcheckinginventoriesg

30、oesintothestoragesandcountinventories.CostflowassumptionanalysisTheteashopadoptstheperiodicinventorysystem,itdoesnotrecordeachunitsold,soitisreallydifficulttousespecificidentificationassumption,whichisanexpensiveandlaborconsumingwork.FIFOandLIFOassumptionsneedmoreenergytoo,becausetheyrequireadetaile

31、drecordoftheinventories.Usually,attheendofeachmonth,thepersoninchargeofcheckinginventorieswillcounttheremainingtea.Theycalculateanaveragecostfirstbydividingthetotalcostsofteapurchasedbythetotalquantity.Thentheycangetthecostoftea,itisjusttheproductoftheendingquantityandtheaveragecost.Differentcostflo

32、wassumptionsused,theeffectsontaxandincomemaybedifferent.Fortheteashop,theaveragecostflowassumptioniseasytouse,buthasadisadvantageintax.In2008,thepriceisgoingup,andthenitcanusethelast-in,first-outflowassumptioninordertopaylesstax.10ConclusionAftermyinternshipperiodintheteashop,Ihavelearnedalot.Theknowledgeonbooksmaynotsuitallcompaniesinthereality,theyhavetothinkoutthebestandconvenientwaytomanagethecompany,tocontrolthemanufacturingprocess,andtoearnm