Although both belong to the company's solvency, the previous analysis is different. When analyzing short-term solvency, we need to consider several important indicators, such as working capital, quick ratio, current ratio, cash ratio and cash current debt ratio. But the first three are widely used, and only current assets, current liabilities and quick assets are involved in the balance sheet. As far as working capital is concerned, the larger the business volume, the more stable its financial situation, which means that enterprises basically have no debt repayment pressure, and vice versa; However, the greater the current ratio, the more stable the solvency of the enterprise, because it may be the increase of accounts receivable, the accumulation of inventory and so on. The current international ratio is about 200%, which is more appropriate. The flow ratio should not be too high or too low, and it is best to keep it in a relatively stable state. When measuring the long-term debt capacity, we should consider both the stock index and the flow index. Quality indicators usually refer to asset-liability ratio, long-term capital-liability ratio, equity multiplier of property right ratio and interest-bearing debt ratio. Liquidity indicators mainly refer to interest multiples, cash flow interest guarantee multiples and cash flow debt ratio.
(B) the need to analyze the company's operational capabilities
Operational capacity can be roughly divided into human resources operational capacity and means of production operational capacity. A more comprehensive analysis includes the analysis of these two operating capacities, but in practice, only the latter is usually considered, because the operating capacity of the means of production is actually the operating capacity of the company's total assets and its various elements. We need to start from all aspects. The turnover of current assets, inventory and non-current assets needs to be considered. The turnover of accounts receivable needs to consider the deep-seated problems such as the proportion of credit sales, reliability, impairment provision and turnover days, such as the impairment provision of accounts receivable disclosed in the statements, which needs to be fully concerned in the analysis. The future development potential and profit level can be obtained from the company's operating ability, which is indispensable information for managers or investors.
(3) The income statement can reflect the profit and loss, operating results and their distribution relations of listed companies in a certain period, which is an important basis for measuring the company's ability to survive and develop.
Through the analysis of operating gross profit margin, operating net profit rate, cost profit rate, total assets profit rate, return on total assets, total assets net profit rate and return on total assets in the income statement. Generally speaking, it is divided into two categories, one is the analysis of operating profitability, and the other is the analysis of asset management ability. In the income statement, we often pay more attention to the data of main business cost, main business income, main business profit, operating profit, total profit and net profit. However, accountants and investors can't just care about net profit, thinking that the higher the profit, the better, because companies can include investment income and non-operating income in current profits, but these profits are not stable main business income. Among listed companies, companies with a surplus in net profit but a loss in main business are more dangerous than companies with a loss in net profit but a surplus in main business income. The cost of public disclosure of listed companies is very limited, and it is difficult for external analysts to conduct a comprehensive and in-depth analysis.
In addition, different methods will have different results in the analysis of operating profit, and even turn losses into profits through certain accounting methods. This needs to analyze the cost behavior, and then use accounting methods for correct accounting. When the early production output is optimistic and the inventory is large, but the current sales volume is not satisfactory, accountants can make the statements look optimistic through certain accounting methods. The Yinguangxia incident is a typical example. During the period from 1997 to 200 1, the fictitious sales revenue accumulated to more than 10 billion, and the inflated profit reached 770 million. These false information misled many individual investors and institutional investors.
(4) Pay attention to the inflow and outflow of cash in the cash flow statement, especially the information and data of accounts receivable, other accounts receivable, prepayments and property losses to be handled.
Generally speaking, accounts receivable aged more than three years need to be transferred to bad debt reserve, but many companies do not set up bad debt reserve subjects, and the bad debts left over for many years are hung in accounts receivable, which will inevitably lead to the increase of assets. Therefore, when accountants or investors find that the company's assets are very high, they must analyze accounts payable and other payables in detail, and analyze whether there are fixed assets that should be transferred to bad debt reserves, which leads to inflated asset accounts.
Accounting information is obtained by statistical analysis of various accounting data, and accounting information can be compared by historical standards, industry standards, target standards and industry standards. However, the financial situation of some listed companies is very limited, which leads to the deviation of the analysis of their financial ability by managers and ordinary investors. Therefore, both accountants and managers of listed companies need to maintain a comprehensive, serious and objective working attitude when analyzing the financial situation of listed companies, and make a full and comprehensive analysis with limited data to avoid accounting distortion.