【正文】 應(yīng)收款項的流通性也反應(yīng)在應(yīng)收賬款的利率上，在多數(shù)情況下貨物在往來賬戶上代表性地銷售，應(yīng)收賬款利率的下降可能預(yù)示著信用標(biāo)準(zhǔn)的下降，通常關(guān)閉逾期賬戶。這就是所謂的“嚴(yán)峻考驗”當(dāng)前條件下的流動性。其他條件相同的情況，售出存貨越快，現(xiàn)金流入量越接近現(xiàn)金流出量。 流動資產(chǎn)的流動性隨現(xiàn)金狀況的變化而變化。我們可以開始確定的流動資產(chǎn)對流動負(fù)債的比率。例如 2020年條件的結(jié)論不能完全地建立在 2020年報表數(shù)據(jù)上。 財務(wù)比率是永久性的這種分類并非詳盡無遺，其他比率可用于購買指示。 2．項目報表中收入和支出的比較： a）一定時期中的報表項目的比較； b）同一項目在報表中現(xiàn)階段與上個階段的比較； c）報表中項目之間的比率與去年相似比率的比較； 3．資產(chǎn)負(fù)債表中的項目與報表中收入和支出項目的比較： a）在這些報表項目之間的一個給定的時間內(nèi)，例如，今年凈利潤可能以百分比計算今年凈值； b）兩個報表中項目之間的比率在這幾年時間的比較，例如，凈利潤的比率占 今年凈值的百分比與去年或者前年的相似比率的比較 如果我們采用上述比較或比率，然后依次比較它們，我們的比較分析結(jié)果將獲得重要意義： 1. 這樣的數(shù)據(jù)比較是報表缺少的，但這種數(shù)據(jù)對于金融史和條件判斷是十分重要的，例如，商業(yè)周期的階段性； 2. 使用財務(wù)財務(wù)比率分析財務(wù)報表，從競爭角度，人民比較關(guān)注類似業(yè)務(wù)的比較。企業(yè)的財務(wù)彈性很重要，它主要是指企業(yè)保持良好的資金流動性以便及時償還債務(wù)。 取得稅收優(yōu)惠。企業(yè)并購實質(zhì)上是企業(yè)組織對市場的替代，實現(xiàn)了外部交易的內(nèi)部化，由于在適當(dāng)?shù)慕灰讞l件下 ，企業(yè)的組織成本有可能低于在市場上進行同樣交易的成本，從而減少了生產(chǎn)經(jīng)營活動的交易費用。企業(yè)運用這種資本經(jīng)營方式實現(xiàn)對外部的低成本擴張，將生產(chǎn)和資本集中，獲取協(xié)同效應(yīng)，對提高競爭能力、分散經(jīng)營風(fēng)險起到了很重要的作用。s cash position may be tested by dividing the item of cash by the total of current liability items and using the quotient to express the result of the test. Each ratio may be expressed in two ways, for example, the ratio of sales to fixed assets may be expressed as the ratio of fixed assets to sales. We shall express each ratio in such a way that increases from period to period will be favorable and decreases unfavorable to financial condition. We shall use the following financial ratios in analyzing parative financial statements: I. Workingcapital ratios 1. The ratio of current assets to current liabilities 2. The ratio of cash to total current liabilities 3. The ratio of cash, salable securities, notes and accounts receivable to total current liabilities 4. The ratio of sales to receivables, ., the turnover of receivables 5. The ratio of cost of goods sold to merchandise inventory, ., the turnover of inventory 6. The ratio of accounts receivable to notes receivable 7. The ratio of receivables to inventory 8. The ratio of working capital to inventory 9. The ratio of notes payable to accounts payable IO. The ratio of inventory to accounts payable II. Fixed and intangible capital ratios 1. The ratio of sales to fixed assets, ., the turnover of fixed capital 2. The ratio of sales to intangible assets, ., the turnover of intangibles 3. The ratio of annual depreciation and obsolescence charges to the assets against which depreciation is written off 4. The ratio of worth to fixed assets III. Capitalization ratios 1. The ratio of worth to debt. 2. The ratio of capital stock to total capitalization . 3. The ratio of fixed assets to funded debt IV. Ine and expense ratios 1. The ratio of operating profit to sales 2. The ratio of operating profit to total capital 3. The ratio of sales to operating costs and expenses 4. The ratio of profit to sales 5. The ratio of profit to worth 6. The ratio of sales to financial expenses 7. The ratio of borrowed capital to capital costs 8. The ratio of ine on investments to investments 9. The ratio of nonoperating ine to operating profit 10. The ratio of operating profit to nonoperating expense 11. The ratio of profit to capital stock 12. The ratio of profit reinvested to total profit available for dividends on mon stock 13. The ratio of profit available for interest to interest expenses This classification of financial ratios is permanent not exhaustive. Other ratios may be used for purposes later indicated. Furthermore, some of the ratios reflect the efficiency with which a business has used its capital while others reflect efficiency in financing capital needs. The ratios of sales to receivables, inventory, fixed and intangible capital。 Juece O39。s market value and the effective management of the condition should be the difference between the market value. The pany liquidity and solvency position is to maintain the basic conditions for good financial flexibility. Company39。中文 4840 字 畢業(yè)設(shè)計 (論文 )外文資料翻譯 原文題目： Enterprise merger and acquisition analysis of financial statements 中文題目： 企業(yè)并購 財務(wù)報表分析 文獻(xiàn)出處： 《 The modern enterprise financial management》「美」 James Horne. 2020 年 6 月 6 日 外文原文 Enterprise merger and acquisition analysis of financial statements Corporate mergers and acquisitions have bee a major form of capital operation. Enterprise use of this mode of operation to achieve the capital cost of the external expansion of production and capital concentration to obtain synergies, enhancing petitiveness, spread business plays a very important role. M amp。s financial flexibility is important, it mainly refers to the enterprises to maintain a good liquid