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1、财务报表分析之我见【摘要】财务报表是揭示企业财务信息的基本手段，是财务报告的核心。 随着我国市场经济的发展和不断完善，人们日益认识到财务报表分析的重要性。通过分析财务报表，能评价企业过去的经营成果、衡量企业目前的财务状况并预测企业未来的发展趋势。因此，对财务报表的使用者来说，分析利用好财务报表显得至关重要。但由于传统的、常用的财务报表分析存在一定的局限，这给我们正确理解财务信息造成一定的障碍。本文针对我国现行财务报表分析存在的局限性，探讨其解决对策，以期为完善和发展我国的财务报表分析体系提供新的思路和方法。【关键词】 财务报表 分析方法 局限性 对策建议一、 财务报表分析概述 财务报表分析是指
2、以财务报表和其他资料作为依据和起点，采用专门方法，系统分析和评价企业的过去和现在的经营成果 、财务状况及其变动，目的是了解过去、评价现在、预测未来，帮助利益关系集团改善决策。财务分析的基本功能是将大量的报表数据转换成对特定决策有用的信息，减少决策的不确定性。 财务分析的方法有比较分析法和因素分析法，其中，比较分析法中财务比率的比较是最重要的分析， 它们通过相对数比较，排除了企业规模的影响使不同比较对象在不同时期和不同行业之间建立起可比性，反映了各会计要素之间内在联系。企业基本的财务比率可以分为四类：即变现能力比率、资产管理比率、负债比率和盈利能力比率。不同的财务比率在企业的财务管理中发挥着不同
3、的作用。 （一）变现能力比率主要有流动比率和速动比率，通过对这些比率的计算和分析，用以评价企业变现的能力和反映企业的短期偿债能力，它取决于企业可以在近期转变为现金的流动资产的多少。（二）资产管理比率。包括营业周期、存货周转率、应收账款周转率、流动资产周转率和总资产周转率。这些比率是用来衡量企业资产管理效率的重要财务比率。 （三）负债比率。主要包括资产负债率、产权比率、有形净值债务率和已获利息倍数。通过报表中有关数据计算这些比率来分析权益与资产之间的关系，分析不同权益之间的内在联系，用以评价企业的长期偿债能力。 二、 财务报表分析中存在的问题 (一) 财务报表分析人员存在的局限性 一方面，财务分
4、析人员的分析能力存在差异。由于财务报表分析人员的业务素质和能力水平存在差异，不同的分析人员在财务报表分析的相关理论、分析方法和解读财务报表等各方面知识的掌握程度不同，导致其对分析指标计算结果的理解和认识出现差异，这势必会影响报表分析的结果。另一方面，进行财务报表分析时，还存在人为操纵分析指标的可能性。通过采用不同的计算方法得出不同的分析指标，以达到粉饰企业经营业绩的目的。 (二) 财务报表分析方法存在的局限性 财务报表分析方法有比较分析法、比率分析法、 趋势分析法以及因素分析法等，这些方法各自有其优越性，但同时也存在着局限性。1、比较分析法。由于不同企业间、同一企业的不同时期情况各异，在比较分
5、析时其数据难免会缺乏可比性。2、比率分析法。财务比率是由两个相关项目相比而得到的相对数，事实上影响该项比率的因素有很多，不能仅仅用两个项目表达出来，以致分析时难以全面衡量。 3、趋势分析法。是与企业以前年度纵向比较的结果，得出的发展趋势是以以前年度为参照，然而过去的状况并不一定是合理的 所以分析的结果难免出现偏差。 4、因素分析法。 用此方法进行分析时，需注意分析的相关性、替代的顺序性、 前提的假定性、替代的连环性等问题，可见其适用范围存在诸多限制，且需要人为的逻辑 判断，因而存在一定的局限性。 (三) 财务报表分析指标存在的局限性 在现行的财务报表分析体系中，主要根据财务分析指标对企业的经营
6、状况进行分析，为管理者经营决策提供参考依据 。但是，由于报表在信息披露方面存在局限性，使得财务报表分析难以全面化、系统化。而且，随着市场经济的不断发展，现有的指标 体系已经不能全面反映企业的经营状况，一些对企业有重大影响的非财务指标没有包括在内，如市场份额、产品质量和服务指标、人力资源指标、潜在盈利能力和持续盈利能力指标等。虽然这些指标在会计计量和核算方面还存在一些困难，但这些指标对企业经 营管理决策的影响日趋重要，如果不能充分揭示，就难以全面反映企业的软实力和经营状况。 （四）财务报表本身的局限性 1、现行财务报表所提供的财务信息主要反映已发生的历史事项，它与使用者决策所需要的有关未来信息的
7、相关性较低。由于财务报表是报告历史事项，财务分析是对过去事项的检验，因而这些信息无论何时运用于决策过程中，都存在着一个重要假设，即过去是预测未来的合理基础。2、现行财务报表主要反映能用货币计量的信息，而无法反映许多对企业财务状况和经营成果产生重大影响的重要信息，如企业的人员力资源状况、市场占有率等信息。稳健原则要求预计可能的损失而不预计可能的收益，有可能夸大费用、少计资产和收益，而使报表数据不实。正是由于财务报表存在着这些局限性，因而在进行财务分析时，必须首先确定财务报表本身信息的可靠性，否则难以真正实现财务报表分析的目的。 三、具体对策建议（一）对财务报表本身的改进 对于历史成本的会计计量而
8、言，我们不能完全摒弃，但是应当加以改进：一是加快提取折旧的速度，尽量缩小历史成本与现行成本的距离，到原有资产的保值，减少企业的损失；二是实行现行成本计价，改变传统的成本计价方法，使账面价更加接近现实价，缩小实际价值与变现价值的距离，增强企业财务报表的真实性。 （二）财务报表分析指标的改进 首先，对于速动比率指标，凡是快速变现资产能力较强的都可以归入速动资产项 目，所以可以用企业的货币资金、短期证券、应收票据、信誉好客户的应收账款或账龄小于 1年的应收账款，若企业的产品比较畅销，变现能力很强，还可以加上存货中产成品等作为速动资产，来计算企业的速动比率指标，则更能准确衡量企业快速变现资产的能力。
9、其次，对于流动比率指标，可以剔除不能变现的预付账款、预付费用等及流动性较差的且长期滞销而没有计提存货减值准备的存货和不良应收账款，来计算企业的流动比率，使之更能准确真实的反映企 业的短期偿债能力 。 再次，对于现金比率指标，反映即时付现能力，也是表明企业最坏情况下短期偿债能力如何的指标，应该包括货币资金和保持短期投资状态的短期投资净额(交易性金融资产)，而剔除短期股票投资套牢而转化为事实上的长期投资。一般来说现金比率重要性不大，因为不可能要求企业用现金和短期证券投资来偿付全部的流动负债，但是当企业应收账款、存货的变现能力存在问题时，现金比率就显得很重要了。 （三）对财务报表分析方法体系的改进
10、1、坚持定量分析与定性分析相结合。现代企业不仅面对国内环境还要面对复杂多变的国际环境，这些外部环境有时很难定量，但会对企业财务报表状况和经营成果产生重要影响，比如会计报表外部信息等 。因此，我们在定量分析的基础上，需做出定性的判断，要充分发挥人员的丰富经验和量的精密计算两方面的作用，两者相互作用可使报表分析达到最优化，更好地反映真实情况，获得决策有用的信息。 2、坚持动态分析和静态分析相结合。我们所看到的信息资料，特别是财务报表资料一般是静态的反映企业过去的或历史的经营情况，而企业的生产经营业务和财务活动是一个动态的发展过程，因此要进行动态分析，在了解过去情况的基础上，分析当前情况的可能结果对
11、 恰当预测企业未来有一定的帮助。 3、坚持个别分析与综合分析相结合。要全面地看问题，而不是孤立片面地只看到个别财务指标的高与低 ，就得出好与坏的结论。财务指标数值具有相对性，同一指标数值在不同的情况下反映不同的问题，甚至会得出相反的结论。比如，资产运用效率中的应收账 款周转率指标越高，一方面反映企业平均收账期越短，应收账款的收 回越快，收账的效率高、质量好；而另一方面也可能是由于企业的信用政策过于严格所致，这也会给企业带来负面影响，丧失部分机会成本，使市场占有率下降等。因此，在进行财务分析和评价时，单个指标不能说明问题，要根据某指标对其他方面可能产生的影响进行综合分析，才能得出正确结论。 总之
12、，财务分析是对企业全方位的、系统的分析，必须考虑各种 可能的影响因素，排除各因素对会计报表的影响，只有这样才能达到财务分析的目的，满足各方相关利益者的需求 。 (四)提高财务报表分析人员的综合素质 在财务报表分析过程中，财务分析人员起到了重要的作用。管理层应从以下几个方面人手，全面提高财务报表分析人员的综合素质：1、重视对企业财务分析人员的教育培训，加强其财务会计学、经济学、统计学、企业管理和市场营销等各学科的学习，提高他们的综合业务素质，使其能够全面解读报表， 并根据财务报表分析结果做出正确的判断，使分析人员在工作中逐步提高对问题的分 析能力和判断能力。2、鼓励财务分析人员熟练掌握各种财务分
13、析软件和分析工具，在提高工作效率的同时，协助其得出正确的分析结果。3、加强会计职业道德教育，树立正确的分析理念，为企业管理者的经营投资决策提供真实可靠的参考依据。The statement analysis in my thoughtAbstract : The financial reporting is the essential method to promulgate the business finance information and the core of financial report. Along with our country market economys deve
14、lopment and consummates unceasingly, the people realize to the importance of the statement analysis day by day. Through the analysis financial reporting, can appraise the past management performance of enterprise, can weight present financial situation of enterprise, can forecasts future development
15、 trend of the enterprise. Therefore, to financial reportings users , to analysis and uses the financial reporting well is very important. But as a result of traditional, commonly used statement analysis existence certain limitation, it creates certain barrier for us to correct understanding finance
16、information. This article in view of our country present statement analysis existences limitation, discusses its countermeasure solution, as to provide the new mentality and the method to consummate and develop our countrys statement analysis system . Keyword: Statement analysis, method, limitation,
17、 suggestion 1. outline of statement analysis The statement analysis is refers to takes the basis and the beginning by the financial reporting and other material, uses the special method, system analysis and the appraisal enterprises past and presents management performance, the financial situation a
18、nd the change, the goal will be to understand the past, appraisal now, the forecast future, helped the interest relations group improve the decision-making. The basic function of financial analysis is to transform the massive report data to the useful information for specific decision-making, reduce
19、s the uncertainty of the policy-making Financial analysis methods Including the comparison analytic method and the factor analytic method, compared with the analytic method in financial ratios comparison is the most important analysis, They through the comparison of relative number, removed the ente
20、rprise size influence to cause the different comparison object establish the commeasure ability between the different time and the different profession, reflected the inner link between the essential factor in each accountant. The basic financial ratio of enterprise may divide into four kinds: Namel
21、y cash ability ratio, asset management ratio, debt ratio and profit ability ratio. The different financial ratio is playing the different role in enterprises financial control. 1.1 Cash ability ratio Mainly has the current ratio and the quick ratio, through to these ratios computation and the analys
22、is, with appraises the enterprise realization ability and the reflection enterprises short-term credit capacity, it will be decided in how many cash current assets the enterprise may transform in the near future into.1.2 Asset management ratioIncluding business cycle, goods in stock cycling rate, ac
23、count receivable cycling rate, current assets cycling rate and total assets cycling rate. These ratios are important financial ratios to use for to weigh enterprise assets managerial effectiveness . 1.3 Debt ratio Mainly includes the property ratio of debt to net worth, the equity ratio, the visible
24、 net worth debt rate and the interest multiple has attained. To calculates these ratios through the report form , then analyze the related data between the rights and interests and the property relations, analysis inner link between the different rights and interests, with appraises capacity of ente
25、rprises long-term credit. 2. In the statement analysis exist question 2.1 The statement analysis staffs exist limitationone side , the statement analysis staffs analysis ability existence difference. As a result of the statement analysis personnels professional quality and ability level existence di
26、fference, the different analysis staffs grasp the degree to be different in statement analysiss correlation theories, the analysis method and the explanation financial reporting and so on various aspects knowledge, cause it to analyze the target computed result the understanding and the understandin
27、g have the difference, this will affect the result the statement analysis inevitably. On the other hand, when carries on the statement analysis, but also has the possibility artificial operation analysis target. Through uses the different computational method to obtain the different analysis target,
28、 achieves the goal to plasters the enterprise operating results 2.2 Statement analysis method existence limitation The statement analysis method includes the comparison analytic method, the ratio analytic method, the tendency analytic method as well as the factor analytic method and so on, these met
29、hods have its superiority respectively, but simultaneously also has the limitation. 2.2.1 Compared with analytic method Because situation varies between the different enterprise,. during the identical enterprises different time, when comparative analysis its data will lack the commeasure ability una
30、voidably. 2.2.2 Ratio analytic method The financial ratio is the relative number which compares by two related projects obtains, in fact affects this ratio the factor to have many, cannot just use two projects to express merely, when analyzes weighs comprehensively with difficulty. 2.2.3 Tendency an
31、alytic methodThis is result which with the enterprise the previous year longitudinal comparison, obtained the trend of development was take the previous year as the reference, however past condition was not necessarily reasonable, therefore the analysis result presented the deviation unavoidably. 2.
32、2.4 factor analytic method. When with this method to Carry on the analysis, must pay attention to the analysis the relevance, the substitution, the premise hypothesis, substitution series questions and so on order, obviously its applicable scope has many limits, and needs the artificial logical judg
33、ement, thus has certain limitation. 2.3Statement analysis target existence limitation In the present statement analysis system, mainly carries on the analysis according to the financial analysis target to enterprises state of operation, provides the reference for the superintendent operating decisio
34、ns. But, because the report form has the limitation in the information disclosed that the aspect, causes the statement analysis comprehensively with difficulty, and the systematization. Moreover, along with development of market economys unceasing, the existing indicator system already could not ref
35、lect enterprises state of operation comprehensively, some non-financial norm have the major impact to the enterprise not including, like the market share, the product quality and the service target, the human resources target, latent profit ability and gain continually ability target and so on. Alth
36、ough these targets measure and the calculation aspect in accountant also have some difficulties, but these targets are important to the enterprise management and operation decision-makings influence day by day , if cannot promulgate fully, with difficulty reflects enterprises soft strength and the s
37、tate of operation comprehensively. 2.4Financial reportings limitation 2.4.1 The present financial reporting provides the financial information main reflection the historical item has occurred, it the related future information relevance which will need with the user decision-making is low. Because t
38、he financial reporting reports the historical item, the financial analysis was examination to the past item, thus these information whenever utilized in the decision-making process, has an important supposition, namely the past is foundation forecasts future reasonable. 2.4.2 The present financial r
39、eporting main reflect the information which can use the currency measurement, but is unable to reflect important information that many pair of business finance condition and the management performance have the major impact, like information enterprises personnel , transport charges source condition,
40、 market share ,and so on. But the steady principle request estimate possible loss not to estimate that the possible income, to have the possibility to be exaggerating the expense, little to count the property and the income, causes the report data not to be solid. Is precisely because the financial
41、reporting has these limitations, thus when carry on the financial analysis, must first determine the financial reporting itself information the reliability, otherwise realizes the statement analysis goal truly with difficulty.3. Concrete countermeasure suggestion 3.1 improve the financial reportingA
42、bout measure speaking of historical costs accountant, we cannot abandon completely, but must perform to improve: First, speeds up speed which the extraction amortizes, reduces the distance between historical costs and the present cost as far as possible, to the original propertys store of value, red
43、uces enterprises loss; Second, implements the present cost valuation, the change tradition cost valuation method, causes the account face value to be closer to the present actual price, reduces the actual value and the realization value distance, the enhancement business finance report form authenti
44、city. 3.2statement analysis target improvement First, regarding the quick ratio target, every ability fast realization property strong may belong to the quick asset project, therefore may use enterprises monetary fund, the short-term negotiable securities, the notes receivable, the prestige good cus
45、tomer account receivable or the account age is smaller than 1 year account receivable, if enterprises product quite sells well, the cash ability is very strong, but may also add on stores goods the finished product to take the quick asset, calculates enterprises quick ratio target, then can weigh ab
46、ility the enterprise fast realization property accurately Next, regarding the current ratio target, may reject prepay credit cannot the realization, the prepaid expenses and the fluidity bad, and long-term unsalable but has not counted raises the goods in stock depreciation preparation the goods in
47、stock with the bad account receivable, calculates enterprises current ratio, enables it reflect capacity of enterprises short-term accurately Once more, regarding the cash ratio target, reflected pays in cash ability immediately, is also indicated that how target in the enterprise worst situation sh
48、ort-term credit capacity, to include the monetary fund and to maintain the short term investment condition the short term investment net amount (transaction monetary assets), but rejects a short-term stock investment set of jail to transform as long-term investment in fact. Generally speaking the im
49、portance of cash ratio is not big, because is impossible to request the enterprise reimburses the complete current liability with the cash and the short-term securities investment, but works as when enterprise account receivable, goods in stock cash ability existence question, the cash ratio appeared is very important. 3.3 To i