現(xiàn)金流量表概述畢業(yè)論文外文翻譯

1、外文資料the summarize of cash flow statement1. introductionfinancial reports aim at assuring an efficient dialogue between the entity and the external operators interested in having realistic estimations on the growing perspectives of the entity and, equally, on its sustainability. in spite of the fact

2、that the profit and loss account, as a component of the cash-flow statement financial report, provides a dynamic image on an entitys activity, it nevertheless does not offer a clear vision on the financial flows that modify its financial structure and its cash flow. out of the information officially

3、 issued by a certain entity, only that providing financially-significant data is selected, once it expresses nonconventional realities on the cash resources necessary for supporting an efficient investment policy and for remunerating the invested capitals, or that referring to the external contribut

4、ions of capital assuring financial balance.within such a context, to evaluate a companys capacity of generating cash flow and cash-flow equivalents, the users of financial situations analyze the cash-flow statement an expression of the cash and pay operations performed by an entity, and not only the

5、 hypothetical dimension of its performances, determined by the conventions of the obligation accountancy. the cash-flow statement is conceived so that to offer a most pregnant image of the inputs and outputs of the availabilities afferent to the main categories of activities developed by a company (

6、exploitation, investment and financing activities) and to justify the treasurys balance at the end of the financial exercise. otherwise, the cash flow statement explains the company performances in generating cash.the iasb has developed, at the international level, the ias 7 norm “the cash-flow stat

7、ements”. this norm renders void and replaces ias 7 “the situation of changes in the financial position” from 1977 and has been revised in time, its last variant being applied on january 1st, 1994. the other entities, considered small and intermediate, can optionally conclude such a document. the obl

8、igation imposed to some companies to develop the cash-flow statement emphasizes the increasing importance of this statement in evaluating the companys performances.2. the informational application of cash-flow statementsdrawing a cash flow statement has several reasons.first, the financial statement

9、s are concluded according to the commitment accounting and based on the principle of exercise independence. in these circumstances, the effects of the agreements and of other events from the company are acknowledged when they are produced and not while the cash and cash considerations are cashed or

10、paid by the company, an aspect that does not always satisfy the necessities of the financial-accounting information users.second, the result of the exercise, reflected in the profit and loss account, is affected by a series of accounting conventions (for example, the redemption calculation system) a

11、nd does not express the real company performance. in exchange, the cash-flow 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 reven

12、ues 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 under-liqu

13、idity, the analysis of cash flows becomes a priority for the analysis of results. the analysis of the company results involves, from the simplest point of view, comparing the revenues and expenses from the profit and loss account, independently from the effective moment of revenues cashing and of th

14、e 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

15、 distinct approaches that characterize the company 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

16、 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 me

17、ans that the company 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 company cannot earn other profits. on a short and medium term, profitability and liquidity can be s

18、ensitively divergent. thus, the profitable companies 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 curren

19、t assets. on the contrary, the less profitable companies 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 companys profitability and on its financial structure, is an essential approach

20、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 h., van wymeersch c., 2000). fourth, the cash-flow statement,

21、by taking the census of company profits and payments, allows knowing its historical capacity to generate cash flow and offers the elements that lie at the basis of predictions, on short term, of the future cash flows. the cash-flow information is considered by the financial-accounting information us

22、ers one of the most intelligible and objective source of information that presents the facts without leaving space to subjective interpretations. as a result, the cash-flow information represents the essence of some new modern methods of business evaluation (a method based on updating/capitalization

23、 of future cash flows) (pantea i.p., deaconu a., 2004).finally (without pretending to mention all the uses of this situation), the cash-flow statement offers extra information about a series of aspects that have already been analyzed statically, on the account of financial statements. for example, t

24、he change of the company net assets can be statically analyzed starting from the balance sheet, thus being the expression of unsettled agreements. the cash-flow statement presents the change of net assets, dynamically, materialized in the profits and payments of the respective agreements carried out

25、 during the financial exercise. consequently, the financial structure is analyzed starting from the balance sheet and the statement of changing equity capital. such an analysis mainly reflects the amounts belonging to the financiers, due to be repaid at the end of the financial exercise, without rev

26、ealing their dynamics. the cash-flow statement presents the profits and payments concerning the external capital coming from the shareholders, creditors, as well as their payment by dividends and interests. the relationship between the companys profitability and the cash flows can be emphasized by a

27、nalyzing, in dynamics, the way in which the price variation influences the period turnover and profits.ias 7 “the cash-flow statement” synthesizes the informational utility of the cash-flow statement mentioning that the information offered to the financial statement users is the basis for: evaluatin

28、g the companys capacity to generate cash and cash equivalents; identifying the moment of cash and cash equivalents occurrence; knowing the destination of the respective cash flows (in order to re-start the operation cycle, the investments, financiers payment).3. the determination and interpretation

29、methodology of cash flowthe cash-flow statement describes the way in which the operation, investment and financing activities determine the positive (profits) and negative (payments) cash flows during the financial year. thus the cash flows are divided upon the activities that generated or consumed

30、them in: cash flows from the operation activities; cash flows from the investment activities; cash flows from the financing activities.in ias 7 “the cash-flow statement” it is mentioned that the operation cash-flows (ocf) are essential for appreciating the companys financial performance. it is on th

31、eir dimension that the company capacity depends in order to: maintain the production capacity, achieve new investments, reward new dividends, and repay loans without referring to expensive external financing resources.the cash-flow statement turns the operation result into an effectively cashed resu

32、lt. cash-flows from investment activities (cfi) are imputable to the operations of investment/disinvestment in/from invested and financial capital and reflect the deficit or surplus generated by such operations.the cash flows from financing activities (cff) present the profits and payments related t

33、o the external finances to which the company refers, when the cash resulted from the operation activities was insufficient to cover the investment operations and to reward the financiers (banks, shareholders).the separation of flows in relation to their origin has the advantage of further explanatio

34、ns concerning the companys financial position, by means of the partial balances resulted from comparing the profits and payments specific to each activity. simultaneously, the separate emphasis on cash and cash equivalents resulted from the period agreements and from cash surplus investments allows

35、the factorial analysis of their variation during the respective period and the identification of the activity that generated or consumed the highest cash flows. the total cash flow is determined according to the computing method of cash flows from exploitation activities, using the direct or indirec

36、t method. the direct method operates only with cash-ins and payments information. according to this method, the cash flows corresponding to the three activities are computed as the difference between the effective cash-ins and payments corresponding to the transactions and events that took place wit

37、hin the company, during a financial exercise. the direct method is favored by investors, as it represents the starting point in making forecasts about cash flows, with the purpose to establish the companys value. the indirect method is easier to apply and preferred, according to specialists, by the

38、managers who do not want, as we previously stated, to present to the external users the real image about their companys liquidity and solvency. it implies determining the cash flows from the operation activities by means of the information provided by the commitment accounting (from the profit and l

39、oss statement). thus, we start from the net accounting result (which includes revenues and expenses concerning the financing and investment activity, the calculated revenues and expenses). this is adjusted with the revenues and expenses related to the investment and financing activities, and with th

40、e calculated revenues and expenses (ristea m., lungu c. i., jianu i., 2004).現(xiàn)金流量表概述1 簡(jiǎn)介財(cái)務(wù)報(bào)表旨在確定區(qū)別于實(shí)際經(jīng)營(yíng)情況和對(duì)外報(bào)表數(shù)據(jù)之間的有效的數(shù)據(jù)，目的在于可據(jù)此獲得企業(yè)存在和可持續(xù)發(fā)展的能力和價(jià)值。損益表在分析中雖然占據(jù)重要地位，但是現(xiàn)金流量表作為重要補(bǔ)充報(bào)表，它不但提供經(jīng)營(yíng)活動(dòng)過(guò)程中財(cái)務(wù)動(dòng)態(tài)的狀況，而且它能對(duì)反映其財(cái)務(wù)結(jié)構(gòu)和現(xiàn)金流量的財(cái)務(wù)狀況提供一個(gè)清晰的視覺(jué)。一個(gè)公司公布的財(cái)務(wù)報(bào)表，只提供了重要的、關(guān)鍵的財(cái)務(wù)數(shù)據(jù)。但現(xiàn)金流量表除此之外還提供了資金的“來(lái)龍去脈”，對(duì)有效的投資決策和和投資成本回報(bào)率以

41、及提供外部的資金的成本對(duì)保證財(cái)務(wù)平衡的貢獻(xiàn)。為了衡量公司的產(chǎn)生的現(xiàn)金流量的容量和現(xiàn)金質(zhì)量，財(cái)務(wù)狀況的使用者通過(guò)分析現(xiàn)金流量表，可以獲得一個(gè)企業(yè)現(xiàn)金收入和支付活動(dòng)的情況，而并非只是表現(xiàn)其由權(quán)責(zé)發(fā)生制決定的表面上的財(cái)務(wù)狀況。現(xiàn)金流量表編制的目的為提供一個(gè)富有意義的企業(yè)有效的現(xiàn)金流入和現(xiàn)金流出的狀況，如企業(yè)正在運(yùn)行的各項(xiàng)主要活動(dòng)，比如投資活動(dòng)、經(jīng)營(yíng)活動(dòng)、籌資活動(dòng)，并以此判斷財(cái)政收支的平衡，進(jìn)而對(duì)企業(yè)財(cái)務(wù)狀況做出最終判斷。除此之外，現(xiàn)金流量表還展示了公司創(chuàng)造現(xiàn)金的能力。在國(guó)際水平上，國(guó)際會(huì)計(jì)理事會(huì)已經(jīng)得到了發(fā)展。在國(guó)際會(huì)計(jì)準(zhǔn)則上，對(duì)現(xiàn)金流量表進(jìn)行了具體規(guī)定。這項(xiàng)規(guī)定從1977年開(kāi)始并不斷的被修訂，最終

42、于1994年1月1日施行。這一規(guī)定彌補(bǔ)了現(xiàn)金流量表原有的漏洞，并替代了國(guó)際會(huì)計(jì)準(zhǔn)則中“財(cái)務(wù)狀況變動(dòng)的形式”這一項(xiàng)內(nèi)容?，F(xiàn)金流量表能直觀的展示企業(yè)現(xiàn)金流方面的狀況，并可對(duì)企業(yè)長(zhǎng)遠(yuǎn)發(fā)展做出展望。一些中小企業(yè)也可針對(duì)現(xiàn)金流量表對(duì)企業(yè)狀況得出一個(gè)結(jié)論。人們對(duì)現(xiàn)金流量表認(rèn)識(shí)的不斷加深，表明現(xiàn)金流量表對(duì)企業(yè)價(jià)值分析越發(fā)重要。2 現(xiàn)金流量表提供的信息的應(yīng)用現(xiàn)金流量表提供的信息可用于多方面。待添加的隱藏文字內(nèi)容1第一，財(cái)務(wù)報(bào)表是基于權(quán)責(zé)發(fā)生制的財(cái)務(wù)制度和獨(dú)立性原則下編制的。在這種情況下，現(xiàn)金流量的產(chǎn)生受制度和公司的其他事項(xiàng)的影響是公認(rèn)的，而不是當(dāng)現(xiàn)金或現(xiàn)金狀況發(fā)生變動(dòng)時(shí)，并不是只是為了滿足權(quán)責(zé)發(fā)生制會(huì)計(jì)信息使

43、用者的滿意。第二是體現(xiàn)在損益表中的運(yùn)營(yíng)的結(jié)果，受一系列會(huì)計(jì)項(xiàng)目的影響，比如應(yīng)付款系統(tǒng)，即損益表并不能反映公司的這真實(shí)的財(cái)務(wù)狀況。現(xiàn)金流量表在表現(xiàn)企業(yè)真實(shí)的財(cái)務(wù)狀況上扮演重要的角色，因?yàn)樗懦藢?duì)同一個(gè)項(xiàng)目運(yùn)用的各種不同會(huì)計(jì)處理方法，并考慮在那些計(jì)入損益表中、但并沒(méi)有創(chuàng)造現(xiàn)金收入或支出的收入和費(fèi)用等。另一方面值得提起的是，非流動(dòng)資產(chǎn)使現(xiàn)金流量表的分析成為很重要的分析方法。企業(yè)現(xiàn)金流量財(cái)務(wù)狀況的分析包括，從最簡(jiǎn)單的視角，比較來(lái)自損益表的收入和費(fèi)用，并獨(dú)立地分析現(xiàn)金收入和現(xiàn)金費(fèi)用支出狀況。損益表只考慮到收益，而并沒(méi)有考慮到現(xiàn)金的償債能力。盈利能力和償債能力是描述企業(yè)資產(chǎn)負(fù)債表兩個(gè)很直接的渠道。一項(xiàng)重要的盈利能力可以指出了收入和費(fèi)用之間的不同，以確保支付費(fèi)用的投資資本。但是收入并非總是利潤(rùn)和費(fèi)用的匯聚。另一方面，一定的利潤(rùn)并不代表收入或貸款和不確定支付的費(fèi)用或投資的差額。根據(jù)定義，一個(gè)充分或不足的償債能力并等同于一個(gè)顯著或不良的盈利能力。一個(gè)負(fù)的利潤(rùn)表示公司的收入不足已支付發(fā)生的費(fèi)用，并且其差額未能完全支付其投資成本。這樣長(zhǎng)期下去，如果企業(yè)沒(méi)有其他利潤(rùn)，就會(huì)導(dǎo)致企業(yè)缺乏償債能力。在一個(gè)短、中期間，通過(guò)度獲利能力和盈利能力分析可以感知企業(yè)財(cái)務(wù)狀況的變動(dòng)。因此，快速增長(zhǎng)的固定資產(chǎn)的投資，造成融資的運(yùn)行周期變長(zhǎng)，并降低了流動(dòng)資產(chǎn)的周轉(zhuǎn)速度，最終導(dǎo)致