【正文】 三月 21三月 2102:10:1402:10:14March 23, 20231意志 堅 強 的人能把世界放在手中像泥 塊 一 樣 任意揉捏。 三月 212:10 上午 三月 2102:10March 23, 20231少年十五二十 時 ，步行 奪 得胡 馬騎 。 2023/3/23 2:10:1402:10:1423 March 20231做前，能 夠環(huán)視 四周；做 時 ，你只能或者最好沿著以腳 為 起點的射 線 向前。 TaxProfit and Loss StatementOperatingMarginGrossMarginExpenseMarginSellingcostsAdmin costsOverheadcostsOthercostsRaw MaterialcostsRefining CostsOverheadcosts計劃驅(qū)動預(yù)算計劃驅(qū)動預(yù)算%%%ActualBudgetKey%%CFROIOperating MarginAsset Turnover%%Gross Margin%%Expense Margin%%Raw MaterialRefining Costs%%Selling CostsAdmin Costs.87.90Fixed AssetsWorking CapitalReceivablesInventory75%80%Utilisation Rate10%12%Maintenance%%%%%驅(qū)動預(yù)算三個主要方面驅(qū)動預(yù)算三個主要方面? Provides a financial profile of the business for munication and analysis– Nonfinancial managers brought into value equation– Summary measures broken down into parts for greater focus? Graphically displays a parison of performance standards– Actual versus budget– Current versus historic– Sinopec performance versus “best practice”? Relationships can be used for “what if?” analysis:10% Improvement in: Results in CFROI Change of:Revenue %Cost of Goods Sold %Operating Costs %Overhead Costs %AFA Financial InvestmentAeltus Investment Mgmt., Inc.Alex Brown CapitalAllied Investment AdvisorsAlliance Capital Mgmt. CenturyAmerican Century InvestmentAtlantic Capital Mgmt.Atlas Capital, .Arden Group, Inc., TheAuchincloss Lawrence, Inc.BP America, Inc.BTR Capital Management, Inc.Bahl Gaynor Investment CounselBank of AmericaBay Isle FinancialBoys, Arnold CompanyCambiar Investment Inc.Canyon Partners Inc.Capital Research Co.Capital TechnologyCastleRock PartnersChase Investment Counsel Corp.CitibankClifford AssociatesColumbia Management Co.Composite Research ManagementCompuVal InvestmentsCrabbe Huson Group, Inc.Cramblit Carney, Inc.Creekside Investment ManagementCrestwood Asset ManagementDavis Selected Advisors, .Davis Skaggs Investment Mgmt.Dean Witter Intercapital Inc.Delaware Investment Advisors, Inc.Eagle Global AdvisorsEaton CorporationEdward Jones Co.Enright Financial ConsultantsEquinox Capital ManagementEveans, Bash, Magrino Klein, Inc.Farmers Insurance Group of CompaniesFirst National Bank, SW OhioFleming Capital ManagementFrontier Investment Management Co.Frost National BankGMG/Seneca Capital ManagementGEM Land CompanyGeneral Accident Insurance Co.General Motors Inv. Mgmt. Corp.GlobeFlex CapitalGoefen Glossberg, Inc.Greenleaf Capital Management Gries Financial Corp.Guardian, TheHGK Asset Management, Inc.Hotchkis WileyHoward Hughes Medical InstituteHughes Investment Management Co.Hutchens Investment ManagementInvestment Advisors, Inc.Investment Counselors, Inc.JanusJohnson Investment Counsel, Inc.Jurika Voyles, Inc., Investment Mgmt.KPM Investment Management, Inc.Kalmar Investments, Inc.Kanawha Capital ManagementKempner Capital Management, Inc.Kennedy Capital ManagementKunath Karren Rinne Atkin, Inc.Legacy Capital ManagementLegg Mason Capital Mgmt., Inc.Leonard Management GroupLockheed Martin CorpLogan Capital Management, Inc.Luther King Capital Mgmt.Lutheran Church, TheMcMurrey Investment Advisors, Inc.Mercantile TrustMeridian Investment CompanyMerrill Lynch Asset ManagementMesirow FinancialMississippi Valley AdvisorsMontag ManagementNational City BankNike Securities .Noroian Capital ManagementNorwest Capital AdvisorsNWQ Investment Management Co.Oppenheimer CapitalOppenheimerFunds, Inc.Oppenheimer ManagementPacific Alliance CapitalParnassus Fund, ThePeregrine Capital ManagementPhilip V. Swan AssociatesPioneering Management Corp.Plaza Investment Managers, Inc.Prudential Mutual Fund InvestmentPSA FinancialPutnam Companies, Inc.RCM Capital Management, LLCRM Investment Management, Inc.Richard Blum AssociatesRoberts, Glore Co.Robertson Stephens Co.Roger H. Jenswold Co., Inc.Roulston Company, Inc.Salomon Brothers Asset ManagementSand Hill Advisors, Inc.Schneider CapitalSCI Capital ManagementScholtz CompanySecurities Management ResearchSeligman, . Co., Inc.Sentinel Trust Co.SMC Capital ManagementSheffield Investment ManagementShields/AllianceSig Asset ManagementSmith Barney Investment AdvisorsSoros Fund ManagementSovereign Advisors, Inc.Spears Benzak Salomon FarrellSpero Smith Investment Advisers, Inc.Stafford Trading Standard Pacific Capital LLCStar BankStarbuck, Tisdale AssociatesState of New JerseyState Street ResearchStein Row FarnhamSterling Ltd.Stonebridge Capital Management Inc.Stoneleigh Investment CounselingStrong Capital Management, Inc. Sturdivant Company, Inc.Summit Investment ManagementSun Life of CanadaTiger