現(xiàn)金流量表概述外文翻譯-文庫吧
2024-11-14 09:15 本頁面
【正文】 for example, the redemption calculation system) and does not express the real pany performance. In exchange, The CashFlow Statement has the role to express unconventional realities because it eliminates the effect of using various accounting treatments for the same agreements and events and, also, does not take into account the operation revenues and expenses considered as calculated that do not generate profits and payments in the analyzed financial exercise (expenses for redemption and provisions, revenues from provisions, revenues from subsidies for investments, etc). Another aspect worth mentioning is that in conditions of underliquidity, the analysis of cash flows bees a priority for the analysis of results. The analysis of the pany results involves, from the simplest point of view, paring the revenues and expenses from The Profit and Loss Account, independently from the effective moment of revenues cashing and of the expenses payment. Thus, The Profit and Loss Account allows determining profitability without allowing the direct measure of liquidity by cash flows. There is a tendency to give priority to the profitability analysis to the prejudice of the analysis of liquidity. Profitability and liquidity are two distinct approaches that characterize the pany balance sheet. A significant profitability points out that the difference between revenues and expenses ensures the payment of the invested capital. But the revenues do not always correspond to the profits or to the expenses of parties. On the other hand, certain profits do not represent revenues (loans) and certain payments do not immediately determine the expenses (investments). A sufficient or insufficient liquidity does not correspond, by definition, to a significant or inexistent profitability. A chronic negative (absent) profitability means that the pany revenues are insufficient to cover expenses and the difference between them cannot pay the invested capital. On a long term, this can lead to a lack of liquidity, in case that the pany cannot earn other profits. On a short and medium term, profitability and liquidity can be sensitively divergent. Thus, the profitable 3 panies can face cash difficulties, both as a result of the rapid increase of investments in the fixed capital, which determined the increase of the financing needs for the operation cycle, and as a result of a decrease in the rotation speed of the current assets. On the contrary, the less profitable panies can maintain a satisfying liquidity in the absence of investments or through the progressive decrease of their value. As a result, liquidity, which depends on the pany’s profitability and on its financial structure, is an essential approach drawing the creditors’ attention. The difference between the revenues capable of generating profits and the expenses capable of generating payments is represented by the cash flow, an index that connects profitability and liquidity (Ooghe
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