reallymodifieddupontanalysisfiveways(真正修改后的杜邦分析法五種方式改善)-外文翻譯-wenkub
2022-11-14 06:00:39 本頁(yè)面
【正文】 資產(chǎn)收益率。 等式 2：總資產(chǎn)凈利率 （總資產(chǎn) /所有者權(quán)益總額） =凈資產(chǎn)收益率 等式 3：（凈利潤(rùn) /銷售收入） （銷售收入 /總資產(chǎn)） （總資產(chǎn) /所有者權(quán)益總額）=凈資產(chǎn)收益率 修改后的杜邦模型，成為了所有財(cái)務(wù)管理教科書的標(biāo)準(zhǔn)模式和學(xué)生閱讀的初級(jí)、高級(jí)課程的一個(gè)樣板，如： “ 歸根結(jié)底，最重要的”，或 “ 基本 ”的 會(huì)計(jì)比率就是凈資產(chǎn)收益率。 “ 真 ” 修改的杜邦模型如下公式4。這些將會(huì)在 “ 真 ” 修改的模型中的第三和第四個(gè)比率顯現(xiàn)。 （見(jiàn)公式 4.） 總結(jié) 在 “ 真正 ” 修改的杜邦分析模型比例分析中可以揭露相對(duì)復(fù)雜的財(cái)務(wù)分析神秘性，在決策會(huì)影響凈資產(chǎn)收益率的基礎(chǔ)上，每個(gè)經(jīng)營(yíng)財(cái)務(wù)決策都可以制定。這些選擇導(dǎo)致了每一個(gè)不同的財(cái)務(wù)戰(zhàn)略。此外，小企業(yè)主可確定它們是否明智地使用債務(wù)。 總之，凈資產(chǎn)收益率是評(píng)價(jià)一個(gè)公司的盈利情況的最全面的指標(biāo)。 注：圖表、參考文獻(xiàn)已略去（見(jiàn)原文） Thomas J. Liesz Mesa State College 2020 Really modified Du Pont analysis: Five ways to improve return on equity Abstract While the actual number of small business failures is often a topic of debate, the fact that poor financial planning and control ranks as one of the top causes of business distress and ultimate failure has been widely documented. Further, owners and managers of both struggling and successful small businesses alike often ponder how to improve the return they are getting from their enterprises. Ratio analysis provides a wealth of information that is useful in this regard and one type of analysis in particular – the modified Du Pont technique – can be used to enhance decision making with an eye on improving return. This paper: 1） explains the development and mechanics of the “really” modified Du Pont ratio model, 2) gives practical direction for the use of the model, and 3) discusses implications for the model’s use as a strategic management tool for small business owners, managers, and consultants. Key words: Du Pont analysis； modify； implications Chapter one ： The Du Pont Model: A Brief History The useof financial ratios by financial analysts, lenders, academic researchers, and small business owners has been widely acknowleged in the literature.(See, for example, Osteryoung amp。 Company, LLC. Ine Statement Net Sales …………………………………………………….. $766,990 Cost of Goods Sold ………………………………………….. (560,000) Selling, General, amp。 Wilson, 1986). In its simplest form, we can say that to improve ROE the only choices one has are to increase operating profits, bee more efficient in using existing assets to generate sales, recapitalize to make better use of debt and/orbetter control the cost of borrowing, or find ways to reduce the tax liability of the firm. Each of these choices leads to a different financial strategy. For example, to increase operating profits one must either increase sales (in a higher proportion than the cost of generating those sales) or reduce expenses. Since it is generally more difficult to increase sales than it is to reduce expenses, a small business owner can try to lower expenses by determining: 1) if a new supplier might offer equivalent goods at a lower cost, or 2) if a website might be a viable alternative to a catalog, or 3) can some tasks currently being done by outsiders be done inhouse. In each case ine will rise without any increase in sales and ROE will rise as , small business owners can determine if they are using debt wisely. Refinancing an existing loan at a cheaper rate will reduce interest expenses and,
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